Slide 1: FY23 First Quarter Results
FY23 First Quarter Results Ron Delia CEO Michael Casamento CFO November 1, 2022 US November 2, 2022 Australia NYSE: AMCR | ASX: AMC
Slide 2: Disclaimers
Disclaimers Cautionary Statement Regarding Forward-Looking Statements This document contains certain statements that are “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are generall
Slide 3: Safety
Safety Guided by our values. Committed to our goal of ‘no injuries’ Recordable-case frequency rate Amcor Values (per million hours worked) 11.2 Includes impact of acquired businesses 4.1 • 31% reduction in number of injuries 2.0 2.8 2.1 1.4 • 63% of sites injury free for > 12 months 0.3 2005 2010 20
Slide 4: Key messages
Key messages 1. Another strong quarterly result 2. Reaffirmed FY23 guidance for comparable constant currency EPS growth and free cash flow 3. Further advancing our sustainability agenda 4. Strong, resilient business driving long term value creation and compelling investment case 4
Slide 5: Another strong result in fiscal 2023 first quarter
Another strong result in fiscal 2023 first quarter Organic sales growth, recovery of inflation and strong cost performance Shareholder returns Net sales EBIT EPS • Quarterly dividend increased to 12.25 cps $3,712m $392m 18.1 cents • RoAFE 16.5% +3% +9% +10% (+15% including 12% (comparable constant (
Slide 6: Flexibles segment
Flexibles segment Solid sales growth, mix management and outstanding cost performance 1Q22 1Q23 Comparable First quarter highlights constant currency • Net sales of $2.8bn includes price increases of ~$270m Net sales ($m) 2,634 2,779 +3% (10% growth) related to higher raw material costs Adjusted EBI
Slide 7: Rigid Packaging segment
Rigid Packaging segment Volume growth, solid operating and cost performance 1Q22 1Q23 Comparable First quarter highlights constant currency • Net sales of $933m includes price increases of ~$130m Net sales ($m) 786 933 +3% (17% growth) from higher raw material costs Adjusted EBIT ($m) 62 66 +7% • No
Slide 8: Cash flow and balance sheet
Cash flow and balance sheet Strong balance sheet and fiscal 2023 free cash flow outlook unchanged Year to date cash flow ($ million) 1Q22 1Q23 First quarter highlights Adjusted EBITDA 486 494 • Strong, investment grade balance sheet Interest and tax payments (54) (69) • Leverage in line with expecta
Slide 9: Fiscal 2023 guidance – updated for stronger US dollar
Fiscal 2023 guidance – updated for stronger US dollar Adjusted EPS Guidance • FY23 adjusted EPS assumptions include: Previously (~2%). Increase reflects • 7-12% EPS growth from a combination of strengthening of the US organic growth and share repurchases ~2% dollar since August 80.5 (~4%) • Estimate
Slide 10: Investing in multiple drivers of sustainable organic growth
Investing in multiple drivers of sustainable organic growth Priority Emerging Innovation Segments Markets >$4 bn sales in higher growth, >$3 bn Emerging Markets sales Driving value through higher value segments: across 27 countries: differentiated packaging: Healthcare Protein Hot-fill beverage Prem
Slide 11: Net Zero
Leading the industry on sustainability More sustainable operations Transparent risk management and performance metrics Net Zero GHG emissions by 2050 35% Reduction in GHG emissions intensity since 2008 153 Sites with zero waste to disposal 100% Sites adopted Operation Clean Sweep methodology Notes:
Slide 12: Leading the industry on Responsible Packaging
Leading the industry on Responsible Packaging Responsible Packaging: Waste management Consumer Packaging design infrastructure participation Product design progress Increasing use of recycled across our portfolio content globally % Designed to be recycled Rigid Packaging 96% ~2.5x Increase in PCR us
Slide 13: Strong foundation for growth & value creation
Strong foundation for growth & value creation Global leader in primary packaging for consumer staples and healthcare with a strong track record Consistent growth from priority segments, emerging markets and innovation Strong cash flow and balance sheet provide ongoing capacity to invest Increasing i
Slide 14: Key messages
Key messages 1. Another strong quarterly result 2. Reaffirmed FY23 guidance for comparable constant currency EPS growth and free cash flow 3. Further advancing our sustainability agenda 4. Strong, resilient business driving long term value creation and compelling investment case 14
Slide 15: Appendix slides
Appendix slides Supplementary schedules and reconciliations
Slide 16: FX translation impact
FX translation impact 1Q23 currency impact Combined net income currency exposures(1) Total currency impact $ million Adjusted EBIT (20) EUR, 20-30% Adjusted net income (17) EUR:USD Euro weakened vs USD, Average USD million impact on USD to EUR rate 1Q23 0.9933 vs 1Q23 adjusted net income 1Q22 0.8482
Slide 17: Reconciliations of non-GAAP financial measures
Reconciliations of non-GAAP financial measures 17
Slide 18: Reconciliations of non-GAAP financial measures
Reconciliations of non-GAAP financial measures 18
Slide 19: Reconciliations of non-GAAP financial measures
Reconciliations of non-GAAP financial measures 19