Ardagh full-year underlying earnings fall amid rising costs and dollar

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Glass and metal containers group led by Paul Coulson saw margins contract

Ardagh Group has been investing heavily in recent times in ramping up production, especially in its beverage cans business. Photograph: iStockArdagh Group, the glass and metal containers group led by Irishman Paul Coulson, reported on Thursday that its underling earnings fell last year, as margins contracted due to rising input costs and dollar strength against currencies such as the euro and sterling.

Pro-forma adjusted earnings before interest, tax, depreciation and amortisation , which assumes a South African glass business acquired last May had been part of the group since the start of 2021, fell almost 7 per cent on the year $1.41 billion . The group’s ebitda margin contracted to 14.2 per cent from 17.2 per cent for the previous year. Pro-forma revenues rose 12.5 per cent to $9.23 billion as it passed through higher costs to customers where possible.

Ardagh Group owns 100 per cent of Ardagh Glass Packaging and 76 per cent of Ardagh Metal Packaging , which is listed on the New York Stock Exchange.

 

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