Ardagh Metal Packaging S.A. announced results for the fourth quarter and year ended December 31, 2024. 

Global beverage can shipments grew by 3% for the full year versus the prior year, which was driven by growth of over 4% in Europe and growth of 2% in the Americas – which lapped a high single-digit increase in the prior year.

Global beverage can shipments showed modest growth in the quarter versus the prior year quarter, which was driven by a significant increase of 8% in Europe. 

Americas shipments declined by 5% which was broadly in line with expectation – this reflected a strong prior year comparable, as well as temporary issues related to customer mix in Brazil and softness in the North America energy category.

Oliver Graham, CEO of Ardagh Metal Packaging (AMP), said: “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. 

“Our performance in the Americas was resilient, with a higher Adjusted EBITDA despite temporary issues related to customer mix in Brazil and softness in the energy category in North America. 

“Our actions on liquidity and strong Adjusted EBITDA generation resulted in AMP ending the year with nearly $1 billion of liquidity and a reduced net leverage ratio of 4.9x net debt / Adjusted EBITDA.

“Our fourth quarter Adjusted EBITDA grew by 11%, with performance positively impacted by higher than forecast sales volumes and production in Europe, which included a particularly strong end to the quarter. 

“Americas performance was broadly in line with our expectations, supported by an encouraging improvement in monthly volumes towards the end of the quarter in Brazil and strong operating cost performance in North America.

“Across our global footprint the beverage can continues to gain share in our customers’ packaging mix. While we are still in a challenging consumer environment, this supports our expectation for industry shipments growth into 2025 and we are encouraged by our solid start to the year. 

“We are confident that our team can drive further growth in Adjusted EBITDA in 2025. This will be achieved through increased shipments, further improvements to capacity utilisation and operational improvements, more than offsetting some inflationary pressures in Europe and currency headwinds.”