The second element is, we've not built out all the investment in the original program, so particularly the Brazil greenfield. First quarter adjusted EBITDA in Europe fell by 8% on a constant currency basis to $49 million as the contribution from higher shipments and input cost recovery was offset by higher overhead costs and the known impact from the timing of inflation recovery recognition in EBITDA. 567 South Riverside Drive. Adjusted EBITDA for the quarter of $49 million decreased by $7 million, or 13%, at actual exchange rates, and by 8% at constant currency, compared with $56 million in the same period last year. Our Code of Conduct is a guide for conducting our business in an honest and professional manner. Appreciate that. Luxembourg B 251465, Modern Slavery Statement So I'm just mentioning it, [indiscernible] is more kind of, that's a one-off example of some things happening in the first quarter, we're not picking up in the U.S. because of the geographical footprint, but it is actually them planning -- they're planning to launch in Europe. Ardagh Metal Packaging (AMP) is a leading global supplier of infinitely recyclable, sustainable, metal beverage cans and ends to brand owners. The timing and terms of any such transaction, if effected at all, has not been determined. 2023-04-27 | NYSE:AMBP | Press Release | Ardagh Metal Packaging S.A. Gores Holdings V is a special purpose acquisition company sponsored by an affiliate of The Gores Group for the purpose of effecting a merger, acquisition, or similar business combination. Our adjusted EBITDA result represented an 8% decline on a constant currency basis versus the prior year quarter. Cookie Policy | Privacy Statement | Terms&Conditions. Aluminum Can Manufacturer to Significantly Expand Capacity through Shipments for the quarter grew by 2% on the prior year. Thanks. We will achieve our vision by delivering customer innovation, providing an inspirational environment for our people and creating sustainable value for our business through growth and development. So I think when you add it all together, it makes all sorts of sense that you'd see some increased promotional activity as we go through the year. We'll now move to Arun Viswanathan from RBC. Thanks, Stephen. Ardagh Metal Packaging S.A. - First Quarter 2023 Results - Yahoo Finance The cash proceeds from the transactions will be used to reduce net debt at Ardagh. You can update your preferences by clicking the "Cookie Policy" link at the bottom of any page on our website. Through PLTW, we plan to deliver positive results for more than 2,000 schools and 500,000 PreK-12 students in our local communities. In Europe, first quarter revenue increased by 3% on a constant currency basis to $486 million compared with the same period in 2022, mainly due to more favorable input cost recovery. The future were creating for Ardagh is built around our three core values of Trust, Teamwork and Excellence. We strive to add value in line with customer aspirations and develop packaging that continually improves the consumer experience. Website (562) 699-9800. Is that part of your European outlook as well? Please go ahead. [Operator Instructions]. With a compelling financial profile and clear trajectory for growth, we believe AMP can continue to lead the charge, and we look forward to partnering with Paul Coulson and the team as they continue to execute a targeted expansion strategy supported by highly visible market demand and a strong track record of disciplined and efficient capital deployment., Sustainability is an important component of our investment strategy, and AMP is a clear leader in this spaceenvironmentally, ecologically and socially, said Mark Stone, Senior Managing Director of The Gores Group and CEO of Gores Holdings V. As customers around the world continue to demand sustainable solutions, we believe the Company is strongly positioned to capitalize on the exceptional growth opportunities ahead and were thrilled to be partnering with the team to do so.. Management of Ardagh and Gores Holdings V will host an investor conference call on February 23, 2021 at 9:00 a.m. EST / 6:00 a.m. PST to discuss the proposed business combination. This offset softer performance in Brazil where industry demand is slowly recovering. Investors and security holders will be able to obtain free copies of the Registration Statement and the Definitive Proxy Statement and all other relevant documents filed or that will be filed with the SEC by Gores Holdings V or AMP through the website maintained by the SEC at www.sec.gov, or by directing a request to Gores Holdings V, Inc., 9800 Wilshire Boulevard, Beverly Hills, CA 90212, attention: Jennifer Kwon Chou or by contacting Morrow Sodali LLC, Gores Holdings Vs proxy solicitor, for help, toll-free at (800) 662-5200 (banks and brokers can call collect at (203) 658-9400). And then I think you'll see that the competition or return to the off-trade into the cans and to the extent they can source it one-way glass, because that's where market share will be gained and that's what led to the shift out of returnable over the last few years was the fact that players didn't like losing market share. As that moves to the U.S., are you going to get that business, do you need to make any investments for it? And we have unwavering standards for how we keep that integrity intact, from our research and data to our policies on content and your personal data. Ardagh Metal Packaging To Combine With Gores Holdings V And - Nasdaq Neither AMPs independent auditors, nor the independent registered public accounting firm of Gores Holdings V, have audited, reviewed, compiled or performed any procedures with respect to the projections for the purpose of their inclusion in this press release, and accordingly, neither of them have expressed an opinion or provided any other form of assurance with respect thereto for the purpose of this press release. How we use your information depends on the product and service that you use and your relationship with us. So yes. So we also get some enhanced inflation recovery in the subsequent quarters. We trace our roots all the way back to the Irish Glass Bottle Company, founded in 1932. . Before making any voting or other investment decision, investors and security holders of Gores Holdings V are urged to read the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC in connection with the proposed Business Combination as they become available because they will contain important information about Gores Holdings V, AMP and the proposed Business Combination.
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