Ardagh Metal Packaging reports 6% revenue growth in Q4 FY2024 

LUXEMBOURG – Ardagh Metal Packaging (AMP) has posted a 6% year-over-year revenue increase to US$1.19 billion in Q4 of FY24, up from US$1.13 billion in Q4 FY23.

This growth was driven by favorable volume and mix effects and the pass-through of higher input costs to customers. 

In the Americas, AMP reported US$653 million in revenue for Q4 2024, reflecting a 7% decline from US$705 million in the same period the previous year.

The drop was primarily due to adverse volume and mix effects, though it was partially offset by passing higher input costs on to customers.

The company’s adjusted EBITDA for the region came in at US$108 million, down 8% from US$117 million in Q4 2023.

Conversely, AMP’s European business showed exceptional growth, with revenue surging 22% year-over-year to US$542 million, up from US$427 million in Q4 2023.

This strong performance was reflected in the region’s adjusted EBITDA, which soared 81% to US$56 million, compared to US$31 million in the same quarter last year.

The growth was attributed to strong volume recovery and improved cost management, following customer destocking in 2023. 

For the full fiscal year 2024, AMP recorded US$4.90 billion in revenue, representing a 2% increase from US$4.81 billion in 2023.

The company also reported double-digit adjusted EBITDA growth, with earnings rising 12% to US$672 million, up from US$600 million the previous year. 

AMP CEO Oliver Graham highlighted the company’s strong global performance and the strategic recovery in Europe, “2024 represented a successful year for our business, as reflected by double-digit adjusted EBITDA growth.

“This result was underpinned by 3% global volume growth, as well as stronger input cost recovery. Europe’s adjusted EBITDA performance was consistently strong, as the industry demonstrated good volume growth and a recovery from customer destocking in the prior year.”

The company remains optimistic about sustained demand growth for aluminum beverage cans, driven by consumer preferences for sustainable packaging and the continued expansion of AMP’s production capacity.

While challenges persist in the Americas, AMP’s European segment continues to outperform, positioning the company for stronger global growth in 2025.

Subscribe to our email newsletters that provide busy executives like you with the latest news insights and trends from Africa and the World. SUBSCRIBE HERE