Ardagh Metal Packaging S.a. · NYSE:AMBP
Ardagh Metal Packaging — Q2 2025 Earnings Presentation
27 slides from Ardagh Metal Packaging's earnings presentation, Jul 28, 2025
Slide 1: Ardagh Metal Packaging S.A. Second Quarter 2025 Update
Ardagh Metal Packaging S.A. Second Quarter 2025 Update July 24, 2025 Oliver Graham CEO Stefan Schellinger CFO 1
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements This presentation contains "forward-looking statements" within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Forward-looking statements are not historical facts
Slide 3: Introduction
Introduction —— Y
Slide 4: Ardagh Metal Packaging at a glance
Ardagh Metal Packaging at a glance NYSE: AMBP Global beverage can manufacturer Servicing leading brand owners Benefitting from secular tailwinds Revenue split by destination Leading market positions Cans are winning in the packaging mix 10% 43% Europe* #2 $5.2bn North America #3 Q2 LTM Brazil #3 47%
Slide 5: Strong Q2 results, outperforming guidance
Strong Q2 results, outperforming guidance Full year Adjusted EBITDA guidance raised to $705-$725 million Global shipments growth of 5% in Q2 • Strong growth in the Americas of over 8%, with NA growth of 8% - driven by non- alcoholic beverages - and Brazil growth of 12%, reflecting customer mix +5% Q
Slide 6: Drivers of secular growth remain strong
Drivers of secular growth remain strong Category Pack Sustainability/ growth advantages regulation Traditional categories Convenience, efficiency Plastics substitution New categories (e.g., health & Imagery, quality, ‘coolness’ Decarbonization roadmap wellness) and beverage can playing a leading rol
Slide 7: Key messages
Key messages 7
Slide 8: Regional snapshots
Regional snapshots AMP shipment growth of 5% in Q2 +1% growth in Europe in Q2 +8% growth in the Americas in Q2 Europe North America South America • +1% growth in Q2, reflecting • +8% growth in Q2, reflecting • +12% growth in Q2, ahead category and geographic mix favorable customer and of the industr
Slide 9: Globally the beverage can is winning
Globally the beverage can is winning Growing share of the beverage packaging mix Beverage can penetration rates* by region Non-alcoholic drinks Alcoholic drinks Beverage cans as an overall % of Beverage cans as an overall % of beverage packaging market beverage packaging market +130bps +190bps 70% 7
Slide 10: US Tariff Impact
US Tariff Impact Customers and supply chains are largely regional in nature ❑ At the current time we anticipate minimal impact to our business arising from the tariff measures announced. In North America, we have no can making operations outside of the United States. Across our global operations our
Slide 11: Q2 Financial review
Q2 Financial review 11
Slide 12: Key financial metrics
Key financial metrics Second quarter 2025 $m except per share data Three months ended Three months ended Change Change June 30, 2025 June 30, 2024 reported constant currency Revenue 1,455 1,259 16% 13% Profit for the period 5 2 Adjusted EBITDA 210 178 18% 16% Profit/(loss) per share - (0.01) Adjuste
Slide 13: Financial bridge
Financial bridge Three months ended June 30, 2025 Revenue $m Europe Americas Group Revenue Q2 2024 566 693 1,259 ➢ Group revenue in Q2 was 16% higher Organic 26 147 173 versus the prior year (13% at constant currency [CCY]) and Adjusted EBITDA FX translation 23 - 23 increased by 18% (16% CCY) Revenu
Slide 14: Net debt and liquidity
Net debt and liquidity Strong liquidity and maturity profile June 30, 2025 Drawn amount Available liquidity $m $m Senior Facilities* 3,679 ➢ Senior facilities have no maturity Global Asset Based/Brazil Loan Facilities - 424 before 2027 and a weighted average maturity of 3.5yrs. All Lease obligations
Slide 15: Fiscal 2025 guidance
Fiscal 2025 guidance Upgrade to Adjusted EBITDA on Q2 outperformance and FX Adjusted EBITDA expected to be between $705-$725 million ❑ Upgrade versus prior guidance ($695-$720 million) reflects strong Q2 performance, as well as favorable currency movements ❑ Adjusted EBITDA growth supported by shipm
Slide 16: Investment highlights
Investment highlights 16
Slide 17: Business strengths
Business strengths Leading pure play global beverage can company focused on sustainable products • Scale network player operating in a long-term growth industry with defensive qualities • Geographically diversified - #2 player in Europe* and #3 player in each of North America and Brazil • Experience
Slide 18: Summary historic financials
Summary historic financials* Adj. EBITDA less maintenance Revenue ($ billion) Adjusted EBITDA ($ million) capex & cash conversion ratio** 5.0 800 700 90% 725 700 662 672 625 600 4.5 600 600 545 86.7% 85% 519 503 500 84.6% 4.0 500 83.4% 400 82.6% 400 81.7% 80% 81.3% 300 3.5 300 200 200 75% 3.0 100 10
Slide 19: Supplemental information
Supplemental information 19
Slide 20: Reconciliation of profit for the period to Adjusted profit
Reconciliation of profit for the period to Adjusted profit Three months ended June 30, 2025 2024 $m $m Profit for the period 5 2 Less: Dividend on preferred shares (6) (6) Loss for the period used in calculating earnings per share (1) (4) Exceptional items, net of tax 21 8 Intangible amortization, n
Slide 21: Reconciliation of profit for the period to Adjusted EBITDA
Reconciliation of profit for the period to Adjusted EBITDA Three months ended June 30, 2025 2024 $m $m Profit/(loss) for the period 5 2 Income tax charge 10 2 Net finance expense 67 51 Depreciation and amortization 114 113 Exceptional operating items 14 10 Adjusted EBITDA 210 178 21
Slide 22: Reconciliation of Adjusted EBITDA to Adjusted free cash flow
Reconciliation of Adjusted EBITDA to Adjusted operating cash flow and Adjusted free cash flow Three months ended June 30, 2025 2024 $m $m Adjusted EBITDA 210 178 Movement in working capital 113 152 Maintenance capital expenditure (27) (26) Lease payments (26) (23) Exceptional restructuring costs - (
Slide 23: Sustainability strategy
Sustainability strategy Built on three key pillars 23
Slide 24: Sustainability leadership recognition
Sustainability leadership recognition B ratings for Climate Change and Water Management, Awarded a Gold rating by EcoVadis for and an A rating for Supplier Engagement from global not- Sustainability* for-profit CDP *Ardagh Group rating 24
Slide 25: Core Values
ZAUSIOL Valuing contribution Development + Empowerment Mutual respect Integrity Transparency Collaboration + Safety and responsibility + Communication MCmCe Continuous improvement Innovation Sustainability
Slide 26: Purpose
ArdaghMetalPackaging yy We make packaging for good We work We are proud of Our sustainable, infinitely We are shaping a sustainable future together as our manufacturing recyclable, quality as part of the circular economy while one team. heritage and packaging protects our actively supporting and inv
Slide 27: Ardagh Metal Packaging
_ ArdaghMetalPackaging hy
Ardagh Metal Packaging — Q2 2025 Earnings Presentation on 6ix