Q2 2024 Ardagh Metal Packaging SA Earnings Call Transcript
Key Points
- Global beverage shipments grew by 3% in Q2 2024 compared to the previous year.
- Adjusted EBITDA increased by 18%, with strong double-digit growth across both segments.
- AMP raised its full-year adjusted EBITDA guidance range to $640 million to $660 million.
- The company extended a solar power purchase agreement in Germany, covering up to 40% of demand needs.
- All AMP production facilities received ISO 14001 certification, demonstrating best practice environmental management.
- Economic backdrop remains challenging with heightened political uncertainty, ongoing inflation, and pressured consumer spending.
- Revenue in the Americas decreased by 1% in Q2 2024 due to the pass-through of lower input costs.
- Brazil's beverage can shipments declined by 7% in Q2 2024 due to temporary customer mix effects.
- Softer demand in the energy drinks category led to a modest reduction in shipment growth forecasts.
- Net leverage ratio remains high at 5.8 times, though it is expected to reduce to 5.2 times by year-end.
Welcome to the Ardagh Metal Packaging SA second quarter 2024 results call. Today's call is being recorded. At this time, I'd like to turn the call over to Mr. Stephen Lyons, Investor Relations. Please go ahead.
Thank you, operator, and welcome, everybody. Thank you for joining today for Ardagh Metal Packaging second quarter 2024 earnings call. Which follows the earlier publication of AMP's earnings release for the second quarter.
I am joined today by Oliver Graham, AMP's Chief Executive Officer; and David Bourne, AMP's Chief Financial Officer. Before moving to your questions, we will first provide some introductory remarks around AMP's performance and outlook. AMP's earnings release and related materials for the second quarter can be found on AMP's website at www.ardaghmetal packaging.com.
Remarks today will include certain forward-looking statements and include use of non-IFRS financial measures. Actual results could vary materially from such statements. Please review the detail of AMP's
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