Ardagh Group SA (ARD) Q2 2021 Earnings Call Transcript fool.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fool.com Daily Mail and Mail on Sunday newspapers.
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Paul Coulson, Chairman and Chief Executive, said: We have made an excellent start to 2021, with strong earnings growth in Metal Packaging and a robust performance in Glass Packaging Europe. Our $2.1 billion investment program is fully on track and we are well-placed to deliver further growth over the course of the year.
Revenue increased by 9% to $1,774 million, reflecting increased shipments in both Metal Packaging and Glass Packaging, the pass through of higher input costs and favorable currency translation effects.
Metal Packaging shipments increased by 8% in the quarter. Speciality can volumes increased by 16% and represented c.45% of total shipments.
Glass Packaging shipments increased by 2%, led by growth in North America. Shipments in Europe were in line with the prior year, despite continuing lockdowns in much of Europe during the quarter.
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Ardagh reports 2% increase in glass shipments
Published 24th February, 2021 by Greg Morris
Glass container manufacturer Ardagh Group reported a 2% increase in glass shipments in the second half of 2020 compared to the year before.
In its Quarter 4 and Final Year 2020 financial results the group said its Glass Packaging Europe division performed strongly in the quarter, with packaging volume/mix increasing by 2% compared to the same period last year.
Volume/mix in Glass Packaging in Europe increased in most categories, notably food, as lockdowns had a diminishing impact on consumption patterns compared with earlier in the year.
Adjusted EBITDA in Glass Europe of $92 million was 12% lower than the same period last year due to the timing of furnace rebuild activity and some capacity management initiatives in the quarter.