The company, which is majority-owned by Ardagh Group, said that its adjusted earnings before interest, tax, depreciation and amortisation (Ebitda) rose 10pc last year to $739m (€626m). The company had predicted that the figure would be between $720m and $735m.
Revenue for the year was 12pc higher at $5.5bn. On a constant currency basis, it was up 10pc. The company’s adjusted Ebitda for the fourth quarter of 2025 was $166m. That was 1pc higher on a reported basis, but 1pc lower on a constant currency basis.
The company said the decline was mainly due to higher operations and overhead costs, partly offset by favourable volume and mix effects. However, the $166m figure was ahead of the company’s guidance range of between $147m and $162m.
Oliver Graham, Ardagh Metal Packaging’s chief executive, said the performance during the year was underpinned by more than 3pc growth in shipments, a favourable product mix and what he said was a solid operating performance.
“Our tight focus on cost control generated meaningful operational and overhead cost savings, while our operations teams effectively balanced evolving demand patterns – both in terms of category mix and can sizes – to position our capacity to support our customers’ growth,” he said.
In North America, the company delivered what he said was 6pc growth in full-year volumes, despite supply chain challenges.
“Our strong customer portfolio, in particular in the energy category, drove a favourable mix which more than offset the impact of softness in the Brazil beer market,” he said. “In Europe, operations and overhead cost savings, as well as shipments growth in carbonated soft drinks and in other growing non–alcoholic categories offset the expected metal input cost recovery headwind.”
Mr Graham said that the company’s adjusted Ebitda for 2026 is expected to be driven by volume growth in Europe and Brazil, an attractive customer mix, operational efficiencies and other savings. About 76pc of Ardagh Metal Packaging is owned by Ardagh Group.
Last November, Ardagh Group sealed a major restructuring deal that saw founder Paul Coulson step away from the business with an estimated $100m payoff. The deal saw $4.3bn of Ardagh’s debt written off and converted into equity. A further $1.5bn in fresh capital was also provided for the business via the issue of new debt.
That $15bn was used to refinance certain existing debt facilities, to fund the consideration being paid in connection to a sales transaction to facilitate the recapitalisation, and for general corporate purposes.
Ardagh, whose clients include a raft of global household brands, had been trying for more than a year to finalise a recapitalisation as it dealt with a huge debt pile.
source