Ardagh Posts Revenue Growth, Boosted By Higher Metal And Glass Shipments In Q2
Ardagh Group has posted a revenue increase, due to higher shipments in both metal and glass, in its second quarter.
The metal and glass packaging firm reported that glass packaging shipments increased by 7% in the quarter to 30 June, led by 10% growth in Europe.
Revenue at the group stood at $1.87 billion (€1.58 billion) in the quarter, up from $1.6 billion (€1.35 billion) in the same period last year. On a reported basis, this was a 17% increase.
Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) increased by 19% in Ardagh Metal Packaging (AMP), reflecting a 36% increase in Glass Packaging Europe, where demand recovered strongly compared with the same quarter in the prior year, the company said.
In a statement, Paul Coulson, chairman and chief executive, noted that the group "performed very well" in the quarter.
"Our growth investments across our business are on track and we expect to deliver further progress in the second half of the year,” he added.
Despite this, it said that AMP shipments increased by 3% in the quarter, following the cyber attack.
At the time, the group released a statement declaring that its IT team, with support from external cybersecurity specialists, were "working to remediate this issue, while continuing to safely operate the group's facilities."
It said that it would conduct a forensic investigation into the incident with help from a number of specialists.
While the group's production facilities stayed operational, the packaging giant said it was experiencing delays in the supply chain.