Ardagh Group (ARD) investor relations material

Executive summary

• Q3 adjusted EBITDA was $392 million, down 2% at constant currency and broadly in line with the prior-year quarter; AMP growth offset lower AGP results.

• AMP raised its FY 2026 adjusted EBITDA guidance; AGP maintained its reduced outlook amid high energy costs and soft glass demand.

• Strategic priorities include aligning glass capacity with demand, improving SG&A efficiency and strengthening customer partnerships.

Financial highlights

• Q3 revenue was $2,785 million versus $2,504 million a year earlier; constant-currency revenue increased 11% to $2.8 billion.

• Q3 adjusted EBITDA was $392 million versus $394 million; 9M adjusted EBITDA was $1,124 million versus $1,072 million.

• Q3 loss for the period was $164 million versus $326 million; 9M loss was $459 million versus $535 million.

• Q3 pre-exceptional loss was $14 million versus $20 million; 9M pre-exceptional loss was $234 million versus $143 million.

• LTM adjusted EBITDA was $1,466 million, up 9% YoY.

Outlook and guidance

• AMP raised FY 2026 adjusted EBITDA guidance to $785 million-$795 million; AGP reaffirmed its FY 2026 guidance.

• Global glass shipments are expected to decline slightly in FY 2026; Europe and Africa are expected to offset softer North America.

• Europe expects low-single-digit shipment decline, Africa mid-single-digit growth and North America a low- to mid-single-digit decline.

• Two additional furnace closures in Denmark and the UK are under consideration to address excess capacity; ongoing customer supply is not expected to be affected.

• 2027 outlook is planned for February following work on demand, energy hedges and cost savings; existing Clearly Ardagh targets remain unchanged for now.