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Ardagh Metal Packaging (AMBP) investor relations material
Ardagh Metal Packaging Citigroup 2025 Basic Materials Conference summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.North America demand and outlook
Achieved mid-single digit growth year-to-date, led by energy drinks and new entrants expanding distribution.
Carbonated soft drinks and sparkling water also contributed to growth, though CSD growth moderated in the second half.
2026 expected to be a transition year with low single-digit market growth, with some headwinds from tariffs and contract resets.
Most contracts are now long-term and commercially resolved, reducing near-term risk.
Not significantly exposed to mass beer, which has seen weakness; can continues to take share from glass and plastic.
Brazil and Europe market trends
Brazil saw volatility due to a cold winter and consumer pressure, but expects recovery in 2024 with World Cup and fiscal stimulus.
Nearly all Brazil volume is beer; brewers expected to respond to recent weakness.
Europe experienced low single-digit growth, supported by sustainability trends and innovation, with beer and soft drinks strong.
Can is outgrowing glass in Europe, aided by higher energy costs for glass and regulatory pressures.
Aluminum conversion costs were a headwind in 2023 but are expected to normalize by 2026.
Capacity, utilization, and investment
North America and Europe both operated at high utilization rates, with Europe tighter in season and some room for operational improvement.
No new capacity needed in the next year; ongoing debottlenecking and ramping in France and Germany.
Specialty can formats (sleek, slim) are a strength across all regions, supporting innovation and growth.
CapEx for 2023 guided at ~$1 billion, with future investments in Europe funded by free cash flow.
Dividend policy unchanged; focus on organic investment and maintaining leverage just above 5x, with plans to deleverage as EBITDA grows.
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Operating profit rose 28.9% in 2025, with strong core business and digital segment growth. - GM
Disciplined transformation, resilient cash flow, and software growth drive a strong outlook. - BTBT
Transitioned to a strategic asset model centered on ETH staking and AI infrastructure growth. - COR
Q1 FY2026 revenue up 5.5% to $85.9B; adjusted EPS rose 9.4% to $4.08. - STC
Scalable, high-margin IT communications provider for SMBs with strong recurring revenue and growth momentum. - APAM
AUM hit $180B, strong returns and Grandview deal drove growth despite equity outflows. - PSX
Q4 2025 earnings hit $2.9B, with record refining yields and strong portfolio transformation. - ARCC
FY 2025 delivered $2.01 Core EPS, $1.86 net income/share, and a $0.48 Q1 2026 dividend. - HMN
Record core earnings, 12.4% ROE, and 10% EPS growth guidance for 2026. - AFG
Record underwriting profit, strong ROE, and over $700M returned to shareholders in 2025.
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