Group 1 - A lawsuit has been filed by an investor in Ardagh Metal Packaging S.A. (formerly Gores Holdings V, Inc.) seeking damages related to the merger that occurred in August 2021 [1][2] - The merger between Ardagh Metal Packaging S.A. and Gores Holdings V, Inc. was completed in August 2021, with shares starting to trade under the ticker symbol "AMBP" [1] - Following the merger, the share price of Ardagh Metal Packaging S.A. declined significantly, reaching a low of $3.25 per share on April 16, 2024, from a high of over $12 per share in late August 2021 [2] Group 2 - The Shareholders Foundation, Inc. is involved in monitoring legal issues related to shareholders and provides information on securities class actions and settlements [2] - Investors who purchased shares of Gores Holdings V, Inc. are encouraged to contact the Shareholders Foundation for assistance regarding the lawsuit [2]

Financial Data and Key Metrics Changes - Adjusted EBITDA grew by 18%, reaching $631 million for the last twelve months (LTM), with expectations for further growth in Q3 [5][12] - Liquidity position improved to $405 million from $329 million at the end of Q1 [12] - Net leverage ratio reduced to 5.8 times from 6.2 times, with expectations to end the year around 5.2 times [13][14] Business Line Data and Key Metrics Changes - In Europe, Q2 revenue increased by 2% to $566 million, with shipments up by 5% [6][7] - Adjusted EBITDA in Europe rose by 23% to $79 million, driven by favorable volume mix and stronger input cost recovery [7] - In the Americas, revenue decreased by 1% to $693 million, with adjusted EBITDA increasing by 14% to $99 million [8][9] Market Data and Key Metrics Changes - Global beverage shipments grew by 3% in Q2 compared to the prior year [4] - In North America, shipments grew by 3%, while Brazil saw a 7% decline in beverage can shipments [9][10] - The overall beverage can market in Brazil is expected to grow above mid-single digits for the year [10] Company Strategy and Development Direction - The company is focused on sustainability, with a solar power purchase agreement extended to 2030 to cover up to 40% of German demand [5] - Plans to continue improving operating cost performance and input cost recovery, particularly in Europe [8][30] - The company aims to balance capacity in Brazil while assessing customer demand needs [10] Management Comments on Operating Environment and Future Outlook - The economic backdrop remains challenging with inflation and pressured consumer spending, but industry growth expectations in Europe and Brazil have strengthened [5] - Management expressed confidence in the full-year outlook, raising adjusted EBITDA guidance to $640 million to $660 million [5][16] - Management noted that promotional activity is expected to normalize, with customers leaning more on volume for revenue growth [37][73] Other Important Information - A new $300 million secured financing commitment from Apollo is expected to be drawn in Q3, increasing year-end liquidity to approximately $0.9 billion [13][14] - The company announced a quarterly ordinary dividend of $0.10 per share to be paid in September [14] Q&A Session All Questions and Answers Question: Why did the company decide to secure the $300 million financing agreement? - The company aimed to demonstrate resilience and strengthen its balance sheet, especially after a credit downgrade, to reach nearly $1 billion in liquidity by year-end [19][20] Question: What is the outlook for energy drink demand in North America? - Energy drink demand has been weaker in Q2, but the company expects it to return to growth, driven by innovation and new players in the market [22][70] Question: How much of the demand growth in Europe is attributed to the Euro comp and Olympics? - Management believes that while the Euro and Olympics may have had some effect, the main factors are a return to traditional growth in the European beverage can market and increased customer focus on volume [26][27] Question: What are the expectations for promotional activity in the second half of the year? - The company expects continued improvement in promotional activity as customers will need to lean more on volume for revenue growth [37][73] Question: What is the current status of the North American customer volume dispute? - The company remains optimistic about its contractual position but cannot provide specific updates on the litigation [55] Question: What is the expected cash interest for 2024 and 2025? - Cash interest for 2024 is expected to be around $200 million, with a slight increase to about $210 million for 2025 due to the new term loan [56][57]

Company Performance - Ardagh Metal Packaging S.A. reported quarterly earnings of $0.06 per share, missing the Zacks Consensus Estimate of $0.07 per share, but showing an increase from $0.04 per share a year ago, representing an earnings surprise of -14.29% [1] - The company posted revenues of $1.26 billion for the quarter ended June 2024, which also missed the Zacks Consensus Estimate by 4.77%, remaining unchanged from year-ago revenues [1] - Over the last four quarters, the company has not surpassed consensus EPS estimates, although it has topped consensus revenue estimates twice [1] Future Outlook - The current consensus EPS estimate for the coming quarter is $0.08 on revenues of $1.35 billion, and for the current fiscal year, it is $0.21 on revenues of $4.99 billion [4] - The estimate revisions trend for Ardagh Metal Packaging is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [4] Industry Context - The Metal Products - Procurement and Fabrication industry, to which Ardagh belongs, is currently in the top 32% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% [5] - Timken, another company in the same industry, is expected to report quarterly earnings of $1.60 per share, reflecting a year-over-year decline of 20.4%, with revenues anticipated to be $1.18 billion, down 7.3% from the previous year [5][6]

Financial Performance - Q2 2024 Adjusted EBITDA reached $178 million, an 18% increase year-over-year[43] - The company improved its full-year Adjusted EBITDA guidance to a range of $640 - $660 million[13] - LTM Adjusted EBITDA rose to $631 million in Q2[13] - Group revenue was broadly unchanged versus the prior year at $1,259 million[44] Regional Performance - Europe shipments grew by 5% in Q2, indicating a recovery[13, 16] - Americas shipments grew by 1% in Q2, with North America growing by 3%[13, 16] - Brazil shipments declined by 7% in Q2 due to temporary customer effects[16] - Europe Adjusted EBITDA margin was 14%, up from 11.5% in the prior year[44] - Americas Adjusted EBITDA margin was 14.3%, up from 12.4% in the prior year[44] Liquidity and Debt - A new $300 million secured financing commitment with Apollo Capital Management will further strengthen liquidity in H2[25] - Net debt stood at $3.657 billion with available liquidity of $405 million[45] - The company expects modest deleveraging in 2024[25, 47] Sustainability - All global AMP production facilities have now achieved ISO 14001 certification[22] - A solar power purchase agreement in Germany has been extended to 2030, covering up to 40% of German demand needs[21]

Group 1 - Ardagh Metal Packaging S.A. has announced a quarterly cash dividend of $0.10 per ordinary share, payable on September 26, 2024, to shareholders of record on September 12, 2024 [1] - The company operates 23 production facilities across Europe and the Americas and employs approximately 6,300 people [2] - Ardagh Metal Packaging recorded revenues of $4.8 billion in 2023, indicating its strong market presence [2] Group 2 - Ardagh Metal Packaging is a leading global supplier of infinitely recyclable and sustainable metal beverage cans and ends, catering to brand owners [2] - The company is a subsidiary of the sustainable packaging business Ardagh Group, highlighting its commitment to sustainability [2]

Core Viewpoint - Ardagh Metal Packaging S.A. (AMBP) shows a significant improvement in earnings outlook, making it an attractive investment option as analysts continue to raise earnings estimates, which is expected to positively impact the stock price [1][2]. Earnings Estimate Revisions - Current-quarter earnings estimate is $0.07 per share, reflecting a +75% change from the previous year [3]. - Over the last 30 days, the Zacks Consensus Estimate for the current quarter has increased by 14.29%, with one estimate moving higher and no negative revisions [3]. - For the full year, the expected earnings are $0.20 per share, indicating a +900% change from the prior year [4]. - The consensus estimate for the current year has increased by 15.39% due to one estimate moving higher and no negative revisions [4]. Zacks Rank and Performance - Ardagh Metal Packaging currently holds a Zacks Rank 2 (Buy), indicating favorable conditions for investment based on earnings estimate revisions [5]. - Research indicates that stocks with Zacks Rank 1 (Strong Buy) and 2 (Buy) significantly outperform the S&P 500 [5]. Stock Performance - The shares of Ardagh Metal Packaging have increased by 6.4% over the past four weeks, suggesting positive investor sentiment driven by strong estimate revisions [6].

Core Viewpoint - Ardagh Metal Packaging (AMBP) is experiencing a potential turnaround with signs of volume growth and improved cash flow, despite previous capital losses and concerns over capital allocation priorities [2][4][15] Financial Performance - AMBP reported a total revenue increase of 1% to $1.14 billion, with a gross profit increase of nearly 10% due to a 1% decrease in COGS [7] - The company experienced volume growth of 11% in the Americas, including a 13% increase in North America [4] - Adjusted EBITDA for Q1 2024 was $134 million, a 3% increase year-over-year, with guidance for Q2 2024 set at $170 million, indicating a potential 25% quarter-over-quarter increase [10][15] Cash Flow and Capital Expenditure - AMBP's operating cash flow was negative at $338 million, primarily due to a $423 million investment in working capital [9][10] - After adjustments, the underlying sustaining free cash flow was positive at $39 million, or $0.065 per share, although this is insufficient to cover dividend payments [10] - The company anticipates sustaining capex of around $120 million for the year, which is less than half of the depreciation expenses, leading to a projected net sustaining free cash flow of approximately $236 million [10][12] Debt Management - AMBP has a net debt of $3.35 billion, approximately six times the lease-adjusted EBITDA, with no immediate pressure on funding as the first bond matures in 2027 [14] - The company is encouraged to utilize free cash flow to buy back bonds trading below par to accelerate debt reduction [14] Investment Outlook - The company is expected to meet its adjusted EBITDA guidance for the current quarter, with a strong volume momentum continuing into April [15] - Despite concerns over capital allocation and corporate governance, the stock remains reasonably priced, and a lower debt ratio could enhance market confidence in AMBP's recovery [15]

Ardagh Metal Packaging S.A. (NYSE:AMBP) Q1 2024 Earnings Conference Call April 25, 2024 11:00 AM ET Company Participants Stephen Lyons - IR Oliver Graham - CEO David Bourne - CFO Conference Call Participants Anthony Pettinari - Citi Michael Roxland - Truist Securities George Staphos - Bank of America Stefan Diaz - Morgan Stanley Curtis Woodworth - UBS Arun Viswanathan - RBC Capital Markets Ning Yang - Jupiter Asset Management Paul Simenauer - BNP Paribas Gabriel Hajde - Wells Fargo Securities Operator Welco ...

Ardagh Metal Packaging S.A. First Quarter 2024 Update Oliver Graham CEO David Bourne CFO 25th April 2024 1 Disclaimer Forward-Looking Statements Thispresentationcontains"forward-lookingstatements"withinthemeaningofSection27AoftheU.S.SecuritiesActof1933,asamendedandSection21EoftheU.S.Securities ExchangeActof1934,asamended.Forward-lookingstatementsarenothistoricalfactsandareinherentlysubjecttoknownandunknownrisksanduncertainties,manyofwhich maybebeyondourcontrol.Wecautionyouthattheforward-lookinginformati ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATIONSTATEMENTPURSUANTTOSECTION12(b)OR(g)OFTHESECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUALREPORTPURSUANTTOSECTION13OR15(d)OF THESECURITIESEXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ...