Ardagh Metal Packaging (AMP) has reported a revenue of $1.19bn for the fourth quarter (Q4) of 2024, a 6% increase compared to the $1.13bn reported in the same period a year ago.
This increase in revenue has been attributed to favourable volume/mix effects and the pass-through of higher input costs to customers.
For the fourth quarter ended 31 December 2024, the company’s adjusted earnings before interest, taxes, depreciation (EBITDA), and amortisation increased by 11% to $164m, compared with $148m in the three months ended 31 December 2023 on a reported basis.
In the Americas, Ardagh reported revenue of $653m in the three months ended 31 December 2024, a decrease of 7% compared to $705m a year ago.
The decline in revenue is mainly attributed to adverse volume/mix effects in the region, partially offset by the transfer of higher input costs to customers.
Its adjusted EBITDA was $108m, a decrease of 8% on a reported and constant currency basis when compared with $117m in the same quarter last year.
During Q4 2024, AMP’s revenue in Europe was $542m, an increase of 22% compared to $427m in the three months ended 31 December 2023.
In Europe, the company’s adjusted EBITDA was also up by 81% on a reported basis to $56m in the latest quarter.
Ardagh Metal Packaging Group’s revenue in the year ended 31 December 2024 was $4.90bn, an increase of 2% on a reported basis, compared with $4.81bn in the year ended 31 December 2023.
During the year, the company’s adjusted EBITDA increased by 12% on a reported basis, to $672m, compared to $600m that was recorded in the last year.
AMP CEO Oliver Graham said: “2024 represented a successful year for our business, as reflected by double-digit adjusted EBITDA growth. This result was underpinned by 3% global volume growth, as well as stronger input cost recovery.
“Europe’s adjusted EBITDA performance was consistently strong, as the industry demonstrated good volume growth and a recovery from customer destocking in the prior year.”
