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Ardagh Metal Packaging S.A. - Second Quarter 2025 Results

1. Ardagh Metal Packaging reports 16% revenue growth in Q2 2025. 2. Adjusted EBITDA rises 18%, driven by strong volume growth in Americas. 3. Dividend remains steady at $0.10 per share despite macro uncertainties. 4. Full-year Adjusted EBITDA guidance upgraded to $705-$725 million. 5. Robust liquidity position of $680 million reported at end of Q2.

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Why Bullish?

Positive revenue and EBITDA growth suggest strong operational performance; historically, strong earnings performances like this typically lead to upward stock price momentum.

How important is it?

The article provides key financial results and guidance that directly influence investors' perceptions and market movements for AMBP.

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The positive quarterly results are expected to impact stock prices immediately as investors react to upgraded guidance and financial performance.

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, /PRNewswire/ -- Ardagh Metal Packaging S.A. (NYSE: AMBP) today announced results for the second quarter ended June 30, 2025. Three months ended June 30, 2025 June 30, 2024 Change Constant Currency ($'m except per share data) Revenue 1,455 1,259 16 % 13 % Profit for the period 5 2 Adjusted EBITDA (1) 210 178 18 % 16 % Earnings/(loss) per share — (0.01) Adjusted earnings per share (1) 0.08 0.06 Dividend per ordinary share 0.10 0.10 Oliver Graham, CEO of Ardagh Metal Packaging (AMP), said: "We continued our strong year-to-date performance in the second quarter, with 5% global shipments growth and 18% Adjusted EBITDA growth versus the prior year, again ahead of our guidance. Our financial results in the quarter were particularly driven by strong volume growth in the Americas, reflecting the strength of our customer portfolio with its exposure to several key attractive and growing categories. Our performance is also testament to the resilience of our business, despite macro-economic uncertainties, with shipments growth reported across each of our markets. Global beverage can growth continues to benefit from innovation and share gains in our customers' packaging mix, and we still anticipate only a minimal impact to our business arising from tariff measures announced. Our robust business momentum in the current macro environment gives us confidence to further upgrade our full year Adjusted EBITDA guidance to $705-$725 million – reflecting both improved underlying performance and favorable currency movements." Global beverage can shipments grew by 5% in the quarter driven by growth of over 8% in the Americas and growth of 1% in Europe. North America grew by 8% – reflecting continued strong growth in non-alcoholic categories. Brazil volumes outperformed the industry, with growth of 12%. Adjusted EBITDA of $210 million for the quarter exceeded the upper end of guidance and represented an 18% increase (16% at constant currency). In the Americas Adjusted EBITDA for the quarter increased by 34% on both a reported and constant currency basis to $133 million driven by strong volume growth and lower operational and overhead costs. In Europe Adjusted EBITDA for the quarter decreased by 3% (6% at constant currency) to $77 million, due to lower input cost recovery, including temporary metal timing misalignment, partly offset by volume growth and lower operating costs. Adjusted Free Cash Flow expectations for 2025 remain unchanged - expected to be at least $150 million. Expectations for total capex in 2025 also remain unchanged at just over $200 million, of which $70 million is related to growth investment. Strong total liquidity position of $680 million at June 30, 2025. Net debt to Adjusted EBITDA ratio reduces to 5.3x, down from 5.8x at June 30, 2024. Regular quarterly ordinary dividend of 10c announced. No change to capital allocation priorities. 2025 Adjusted EBITDA guidance improved: Raising the full year Adjusted EBITDA guidance range to between $705-$725 million – based on prevailing currency rates (euro/dollar at 1.17 resulting in an expected 2025 average of 1.12 vs. 1.086 average for 2024). Maintaining full year shipments growth forecast range of between 3-4%. Third quarter Adjusted EBITDA expected to be in the range of $200-$210 million. This compares with Q3 2024 Adjusted EBITDA of $196 million ($202 million at constant currency). Financial Performance Review Bridge of 2024 to 2025 Revenue and Adjusted EBITDA Three months ended June 30, 2025 Revenue Europe Americas Group $'m $'m $'m Revenue 2024 566 693 1,259 Organic 26 147 173 FX translation 23 — 23 Revenue 2025 615 840 1,455 Adjusted EBITDA Europe Americas Group $'m $'m $'m Adjusted EBITDA 2024 79 99 178 Organic (5) 34 29 FX translation 3 — 3 Adjusted EBITDA 2025 77 133 210 2025 Adjusted EBITDA margin % 12.5 % 15.8 % 14.4 % 2024 Adjusted EBITDA margin % 14.0 % 14.3 % 14.1 % Six months ended June 30, 2025 Revenue Europe Americas Group $'m $'m $'m Revenue 2024 1,047 1,353 2,400 Organic 90 227 317 FX translation 6 — 6 Revenue 2025 1,143 1,580 2,723 Adjusted EBITDA Europe Americas Group $'m $'m $'m Adjusted EBITDA 2024 122 190 312 Organic 3 49 52 FX translation 1 — 1 Adjusted EBITDA 2025 126 239 365 2025 Adjusted EBITDA margin % 11.0 % 15.1 % 13.4 % 2024 Adjusted EBITDA margin % 11.7 % 14.0 % 13.0 % Group Performance GroupRevenue of $1,455 million in the three months ended June 30, 2025, increased by $196 million, or 16%, compared with $1,259 million in the same period last year. On a constant currency basis, revenue increased by 13%, reflecting favorable volume/mix effects and the pass through of higher input costs to customers. Adjusted EBITDA increased by $32 million, or 18%, to $210 million in the three months ended June 30, 2025, compared with $178 million in the same period last year. On a constant currency basis, Adjusted EBITDA increased by 16%, principally due to favorable volume/mix effects and lower operational and overhead costs, partly offset by lower input cost recovery. AmericasRevenue increased by $147 million, or 21%, on a reported and constant currency basis, to $840 million in the three months ended June 30, 2025, compared with $693 million in the same period last year, principally reflecting favorable volume/mix effects and the pass through of higher input costs to customers. Adjusted EBITDA increased by $34 million, or 34%, to $133 million on a reported and constant currency basis, compared with $99 million in the same period last year, primarily driven by favorable volume/mix effects and lower operational and overhead costs, partly offset by lower input cost recovery. EuropeRevenue increased by $49 million, or 9%, to $615 million in the three months ended June 30, 2025, compared with $566 million in the same period last year. On a constant currency basis, revenue increased by 4% principally due to favorable volume/mix effects and the pass through of higher input costs to customers. Adjusted EBITDA decreased by $2 million, or 3%, to $77 million compared with $79 million in the same period last year. On a constant currency basis, Adjusted EBITDA decreased by 6% principally due to lower input cost recovery, partly offset by lower operational and overhead costs and favorable volume/mix effects. Earnings Webcast and Conference Call DetailsArdagh Metal Packaging S.A. (NYSE: AMBP) will hold its second quarter 2025 earnings webcast and conference call for investors at 9.00 a.m. EDT (2.00 p.m. BST) on Thursday July 24, 2025. Please use the following webcast link to register for this call: Webcast registration and access:https://event.webcasts.com/starthere.jsp?ei=1724288&tp_key=fde539a674 Conference call dial in:United States/Canada: +1 800 289 0438International: +44 330 165 4027Participant pin code: 6003240 An investor earnings presentation to accompany this release is available at https://ir.ardaghmetalpackaging.com About Ardagh Metal PackagingArdagh Metal Packaging (AMP) is a leading global supplier of sustainable and infinitely recyclable metal beverage cans to brand owners globally. An operating business of sustainable packaging business Ardagh Group, AMP is a leading industry player across Europe and the Americas with innovative production capabilities. AMP operates 23 metal beverage can production facilities in nine countries, employing more than 6,000 people with sales of approximately $4.9 billion in 2024. For more information, visit https://ir.ardaghmetalpackaging.com Forward-Looking StatementsThis release contains "forward-looking statements" within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Forward-looking statements are not historical facts and are inherently subject to known and unknown risks and uncertainties, many of which may be beyond our control. We caution you that the forward-looking information presented in this press release is not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking information contained in this release. Certain factors that could cause actual events to differ materially from those discussed in any forward-looking statements include the risk factors described in Ardagh Metal Packaging S.A.'s Annual Report on Form 20-F for the year ended December 31, 2024 filed with the U.S. Securities and Exchange Commission (the "SEC") and any other public filings made by Ardagh Metal Packaging S.A. with the SEC. In addition, new risk factors and uncertainties emerge from time to time, and it is not possible for us to predict all risk factors and uncertainties, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual events to differ materially from those contained in any forward-looking statements. Under no circumstances should the inclusion of such forward-looking statements in this release be regarded as a representation or warranty by us or any other person with respect to the achievement of results set out in such statements or that the underlying assumptions used will in fact be the case. Therefore, you are cautioned not to place undue reliance on these forward-looking statements. Any forward-looking information presented herein is made only as of the date of this release, and we do not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise. This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014. The person responsible for the release of this information on behalf of Ardagh Metal Packaging Finance plc and Ardagh Metal Packaging Finance USA LLC is Stephen Lyons, Investor Relations Director.  Non-IFRS Financial Measures This release may contain certain financial measures such as Adjusted EBITDA, Adjusted operating cash flow, Adjusted free cash flow, net debt and ratios relating thereto that are not calculated in accordance with IFRS® Accounting Standards. Non-IFRS financial measures may be considered in addition to IFRS financial information, but should not be used as substitutes for the corresponding IFRS measures. The non-IFRS financial measures used by Ardagh Metal Packaging S.A. may differ from, and not be comparable to, similarly titled measures used by other companies. Contacts:Investors: Email: [email protected] Unaudited Consolidated Condensed Income Statement for the three months ended June 30, 2025 and 2024 Three months ended June 30, 2025 Three months ended June 30, 2024 Before exceptionalitems Exceptional items Total Before exceptional items Exceptionalitems Total $'m $'m $'m $'m $'m $'m Revenue 1,455 — 1,455 1,259 — 1,259 Cost of sales (1,257) (13) (1,270) (1,081) (9) (1,090) Gross profit 198 (13) 185 178 (9) 169 Sales, general and administration expenses (67) (1) (68) (76) (1) (77) Intangible amortization (35) — (35) (37) — (37) Operating profit 96 (14) 82 65 (10) 55 Net finance expense (59) (8) (67) (51) — (51) Profit before tax 37 (22) 15 14 (10) 4 Income tax charge (11) 1 (10) (4) 2 (2) Profit for the period 26 (21) 5 10 (8) 2 Earnings/(loss) per share: Basic and diluted earnings/(loss) per share — (0.01) Unaudited Consolidated Condensed Income Statement for the six months ended June 30, 2025 and 2024 Six months ended June 30, 2025 Six months ended June 30, 2024 Beforeexceptional items Exceptionalitems Total Before exceptional items Exceptional items Total $'m $'m $'m $'m $'m $'m Revenue 2,723 — 2,723 2,400 — 2,400 Cost of sales (2,373) (15) (2,388) (2,091) (17) (2,108) Gross profit 350 (15) 335 309 (17) 292 Sales, general and administration expenses (142) (2) (144) (146) (4) (150) Intangible amortization (68) — (68) (73) — (73) Operating profit 140 (17) 123 90 (21) 69 Net finance expense (115) (2) (117) (103) 17 (86) Profit/(loss) before tax 25 (19) 6 (13) (4) (17) Income tax (charge)/credit (7) 1 (6) 4 3 7 Profit/(loss) for the period 18 (18) – (9) (1) (10) Loss per share: Basic and diluted loss per share (0.02) (0.04) Unaudited Consolidated Condensed Statement of Financial Position  At June 30, 2025 At December 31, 2024 $'m $'m Non-current assets Intangible assets 1,242 1,223 Property, plant and equipment 2,526 2,480 Other non-current assets 145 129 3,913 3,832 Current assets Inventories 471 382 Trade and other receivables 532 332 Contract assets 269 251 Income tax receivable 36 35 Derivative financial instruments 11 20 Cash, cash equivalents and restricted cash 256 610 1,575 1,630 TOTAL ASSETS 5,488 5,462 TOTAL EQUITY (318) (136) Non-current liabilities Borrowings including lease obligations 3,949 3,797 Other non-current liabilities* 381 353 4,330 4,150 Current liabilities Borrowings including lease obligations 112 105 Payables and other current liabilities 1,364 1,343 1,476 1,448 TOTAL LIABILITIES 5,806 5,598 TOTAL EQUITY and LIABILITIES 5,488 5,462 * Other non-current liabilities include liabilities for Earnout Shares of $13 million at June 30, 2025 (December 2024: $10 million). Unaudited Consolidated Condensed Statement of Cash Flows Three months ended June 30, Six months ended June 30, 2025 2024 2025 2024 $'m $'m $'m $'m Cash flows from/(used in) operating activities Cash generated from/(used in) operations (2) 319 315 43 (1) Net interest paid (82) (78) (99) (93) Settlement of foreign currency derivative financial instruments (24) 6 (31) 1 Income tax paid (3) (9) (13) (11) Cash flows from/(used in) operating activities 210 234 (100) (104) Cash flows used in investing activities Net capital expenditure (42) (36) (81) (98) Net cash used in investing activities (42) (36) (81) (98) Cash flows (used in)/received from financing activities Changes in borrowings (4) (23) (6) 181 Deferred debt issue costs paid (2) – (3) – Lease payments (26) (23) (51) (44) Dividends paid (66) (66) (132) (132) Net cash (used in)/received from financing activities (98) (112) (192) 5 Net increase/(decrease) in cash, cash equivalents andrestricted cash 70 86 (373) (197) Cash, cash equivalents and restricted cash at beginning of period 177 155 610 443 Foreign exchange gains/(losses) on cash, cash equivalents and restricted cash 9 (5) 19 (10) Cash, cash equivalents and restricted cash at end of period 256 236 256 236 Financial assets and liabilities At June 30, 2025, the Group's net debt and available liquidity was as follows: Drawn amount Available liquidity $'m $'m Senior Facilities* 3,679 — Global Asset Based Loan Facility — 333 Bradesco Facility — 91 Lease obligations 370 — Other borrowings 36 — Total borrowings / undrawn facilities 4,085 424 Deferred debt issue costs (24) — Net borrowings / undrawn facilities 4,061 424 Cash, cash equivalents and restricted cash (256) 256 Derivative financial instruments used to hedge foreign currency and interest rate risk 46 — Net debt / available liquidity 3,851 680 *Includes Senior Secured Green Notes, Senior Green Notes and Senior Secured Term Loan. Reconciliation of profit for the period to Adjusted profit Three months ended June 30, 2025 2024 $'m $'m Profit for the period as presented in the income statement 5 2 Less: Dividend on preferred shares (6) (6) Loss for the period used in calculating earnings per share (1) (4) Exceptional items, net of tax 21 8 Intangible amortization, net of tax 28 29 Adjusted profit for the period 48 33 Weighted average number of ordinary shares 597.7 597.7 Earnings/(loss) per share — (0.01) Adjusted earnings per share 0.08 0.06 Reconciliation of profit/(loss) for the period to Adjusted EBITDA Three months ended June 30, Six months ended June 30, 2025 2024 2025 2024 $'m $'m $'m $'m Profit/(loss) for the period 5 2 — (10) Income tax charge/(credit) 10 2 6 (7) Net finance expense 67 51 117 86 Depreciation and amortization 114 113 225 222 Exceptional operating items 14 10 17 21 Adjusted EBITDA 210 178 365 312 Reconciliation of Adjusted EBITDA to Adjusted operating cash flow and Adjusted free cash flow Three months ended June 30, Six months ended June 30, 2025 2024 2025 2024 $'m $'m $'m $'m Adjusted EBITDA 210 178 365 312 Movement in working capital 113 152 (315) (271) Maintenance capital expenditure (27) (26) (51) (50) Lease payments (26) (23) (51) (44) Exceptional restructuring costs — (6) (1) (20) Adjusted operating cash flow 270 275 (53) (73) Interest paid (82) (78) (99) (93) Settlement of foreign currency derivative financial instruments (24) 6 (31) 1 Income tax paid (3) (9) (13) (11) Adjusted free cash flow - pre Growth Investment capital expenditure 161 194 (196) (176) Growth investment capital expenditure (15) (10) (30) (48) Adjusted free cash flow - post Growth Investment capitalexpenditure 146 184 (226) (224) Related Footnotes (1) For a reconciliation to the most comparable IFRS measures, see Page 9. (2) Cash from operations for the three months ended June 30, 2025 is derived from the aggregate of Adjusted EBITDA as presented on Page 9, working capital inflows of $113 million (2024: $152 million) and other exceptional cash outflows of $4 million (2024: $15 million). Cash used in operations for the six months ended June 30, 2025 is derived from the aggregate of Adjusted EBITDA as presented on Page 9, working capital outflows of $315 million (2024: outflows of $271 million) and other exceptional cash outflows of $7 million (2024: $42 million). SOURCE Ardagh Metal Packaging S.A. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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