Ardagh Metal Packaging (AMBP) investor relations material

Executive summary

• Consolidated Q3 Adjusted EBITDA was $392m versus $394m a year earlier; AMP growth partly offset lower AGP results amid difficult glass-market conditions.

• AMP’s Q3 Adjusted EBITDA was $213m, up 2%, and FY26 guidance was raised to $785m-$795m.

Financial highlights

• Q3 revenue was $2,785m versus $2,504m; net loss narrowed to $164m from $326m. 9M revenue was $8,074m versus $7,215m, and Adjusted EBITDA was $1,124m versus $1,072m.

• Consolidated Q3 Adjusted EBITDA was $392m versus $394m; 9M net loss was $459m versus $535m.

• Q3 gross profit was $318m versus $95m, and operating profit was $60m versus an operating loss of $158m; exceptional operating items were $133m versus $324m.

Segment performance

• AMP Europe Q3 revenue rose 11% to $693m and Adjusted EBITDA rose 11% to $91m; shipments increased 6%.

• AMP Americas Q3 revenue rose 25% to $1,001m, while Adjusted EBITDA fell 3% to $122m; shipments declined 1%, including a 5% drop in Brazil.

• AGP Q3 Adjusted EBITDA fell 4% to $179m, or 6% at constant currency; shipments declined 1%, with North America down 6%, Europe up 1% and Africa up 2%.

• Glass Europe & Africa Q3 revenue rose 5% to $741m; Adjusted EBITDA was $138m, flat reported. Glass North America revenue fell 5% to $350m and Adjusted EBITDA fell 15% to $41m.

• Metal Americas EBITDA reflected lower volumes, higher operating and overhead costs, and lower input-cost recovery, partly offset by favorable category mix; Metal Europe gains reflected volume and input-cost recovery.