Ardagh Metal Packaging (AMBP) Q1 2026 Transcript

Motley Fool Transcribing, The Motley Fool

Thu, April 23, 2026 astatine 8:22 AM CDT 28 min read

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Thursday, April 23, 2026 astatine 8 a.m. ET

• Chief Executive Officer — Oliver Graham

• Chief Financial Officer — Stefan Schellinger

• Investor Relations — Stephen Lyons

Oliver Graham: Thanks, Stephen. We are pleased to study beardown archetypal 4th results for Ardagh Metal Packaging S.A., with adjusted EBITDA maturation of 15% versus the anterior year, importantly up of our guidance and demonstrating the resilience of our business. Beverage tin income declined by 1% versus the anterior twelvemonth quarter, successful enactment with our expectations arsenic we cycled beardown anterior twelvemonth maturation of 6% and owed to the interaction of declaration resets successful North America. Our adjusted EBITDA outperformance successful the 4th was driven by Europe, which benefited from beardown input outgo recovery, including a favorable timing interaction from the revaluation of freight cost-related hedging, arsenic good arsenic favorable measurement premix effects.

Performance successful the Americas was broadly successful enactment with expectations. Brazil delivered beardown results, driven by above-market measurement growth, which was offset by the interaction of a much challenging operating situation successful North America wherever adverse upwind conditions and aluminum proviso concatenation disruptions drove higher operational costs. While the proviso concatenation concern is improving, we bash expect to spot further interaction into Q2. The conflicts successful the Middle East did not person immoderate worldly interaction connected our Q1 performance. Ardagh Metal Packaging S.A. has nary manufacturing operations successful the Middle East and nary important nonstop proviso concatenation exposure. We proceed to show the geopolitical situation and the associated volatility successful input costs, successful peculiar energy, freight, and definite nonstop materials.

Ardagh Metal Packaging S.A.’s vulnerability to the caller summation successful vigor prices is small, fixed our hedge positions for 2026 and beyond. However, we bash expect immoderate mean input outgo increases successful the 2nd fractional arsenic a effect of the interaction of the Middle East struggle connected definite nonstop materials. Now looking astatine Ardagh Metal Packaging S.A.’s Q1 results by segment. In Europe, archetypal 4th gross accrued by 18% to $625 million, oregon by 6% connected a changeless currency ground compared with the aforesaid play successful 2025. This was owed to favorable measurement premix effects, including the interaction of the IFRS 15 declaration asset, and the pass-through of higher input costs, including higher aluminum prices.

Shipments declined by 1% for the quarter, which reflected the ramp-up of caller contracts and the cycling of a beardown anterior twelvemonth comparable of 5%. We experienced bully maturation successful carbonated brushed drinks, successful the vigor category, and crossed our divers scope of smaller increasing categories. Through this beardown underlying maturation successful non-alcoholic categories, arsenic good arsenic our commercialized actions and web enhancements, our portfolio saw a favorable premix displacement successful the play and bully maturation successful specialty tin volumes. First 4th adjusted EBITDA successful Europe accrued by 53% versus the anterior twelvemonth to $75 million, powerfully up of expectations.