Ardagh Metal Packaging S.A. Ordinary Shares (AMBP) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

At this time, I'd like to turn the conference over to Mr. Stephen Lyons, Investor Relations. Please go ahead, sir. Thank you, Operator, and welcome, everybody. Thank you for joining today for ARDA Metal Packaging's fourth quarter 2024 earnings call, which follows the earlier publication of AMP's earnings release for the fourth quarter and the full year. I'm joined today by Oliver Graham, AMP's Chief Executive Officer, and Stefan Schellinger, AMP's Chief Financial Officer. Before moving to your questions, we will first provide some introductory remarks around AMP's performance and outlook. AMP's earnings release and related materials for the fourth quarter can be found on AMP's website at ir.ardametalpackaging.com. Remarks today will include certain forward-looking statements and include use of non-IFRS financial measures. Actual results could vary materially in such statements. Please review the details of AMP's forward-looking statements disclaimer and reconciliation of non-IFRS financial measures to IFRS financial measures in AMP's earnings release. I will now turn the call over to Oliver Graham. Thanks, Stephen. So 2024 represented a successful year for our business as we delivered a double-digit adjusted EBITDA increase underpinned by 3% growth in global volumes. Our growth drove improved capacity utilization and fixed cost recovery, while the business achieved stronger input cost recovery than anticipated and delivered further operational cost improvements. Europe's adjusted EBITDA performance was consistently strong, AMP demonstrating good volume growth as the industry recovered from customer destocking in the prior year. Our performance in the Americas was resilient, with a higher adjusted EBITDA despite temporary customer filling location issues in Brazil and...