Ardagh Group¡¯s adjusted EBITDA up 4% in three-month period

Ardagh Group, a global supplier of infinitely recyclable, metal and glass packaging for the world’s leading brands, published results for the first quarter ended March 31, 2019. Revenue in the three-month period was broadly in line with the prior year. Revenue stood at $2,220 million.

On a constant currency basis, revenue up by 4% on increased volume/mix effects of 2% and the pass through of increased input costs.

Paul Coulson, Chairman and Chief Executive, said: “Our first quarter performance was good, with growth in volumes, earnings and cash generation. Demand for our sustainable packaging solutions is generally strong and we grew volume in both our Americas and European metal packaging divisions notably in beverage cans, as well as in glass packaging in Europe.”

Adjusted EBITDA for the quarter stood at $363 million, up 4% at actual exchange rates, compared with the same period last year. Adjusted EBITDA rose by 9% on a constant currency basis, reflecting the impact of IFRS 16 of $23 million and a pension credit in Metal Packaging Europe.

Ardagh Group expects $390-$400 million of Adjusted EBITDA in in the second quarter of 2019.

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