Ardagh Metal Packaging Group has reported revenue of $1.26bn for the first quarter ending 31 March 2025, reflecting a $127m increase, or 11%, from $1.14bn posted during the same period last year.
On a constant currency basis, the company’s revenue rose by 13%, primarily due to positive volume and mix effects, along with the transfer of increased input costs to customers.
In the Americas, revenue grew by $80m, or 12%, on both a reported and constant currency basis, reaching $740m compared with $660m reported during the same period last year. In Europe, revenue grew 10% to $528m, up from $481m a year earlier.
The group’s adjusted EBITDA climbed by $21m, or 16%, reaching $155m for the three months, compared with $134m in the same period last year.
In the Americas, adjusted EBITDA increased 16% to $106m, driven by higher volumes and lower operating costs.
Ardagh’s adjusted EBITDA in Europe grew 14% to $49m, driven by volume growth, improved input cost recovery, and reduced operating costs.
The company’s global beverage can shipments in the latest quarter increased by over 6% in the quarter, with the Americas growing by 7% and Europe by 5%.
In North America, shipments rose 8%, driven by growth in non-alcoholic categories, including a rebound in energy drinks.
Brazil volumes grew 4%, outpacing the industry, while the company’s liquidity remained strong at $570m.
Following a better Q1, Ardagh Metal Packaging has updated its full-year forecast, expecting 3% to 4% shipment growth and adjusted EBITDA of $695m to $720m.
Ardagh Metal Packaging CEO Oliver Graham said: “Our first quarter performance represents a strong start to the year.
“Against the backdrop of a highly dynamic macro environment, this performance is testament to the resilience of our business and the attractiveness of the beverage can as a packaging choice for our customers.
“Adjusted EBITDA for both geographic segments performed ahead of our expectations, driven by a strong shipments performance.”
