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Packaging And Design

Packaging Firm Ardagh Sees Revenue Up 2% In Full Year

Packaging firm Ardagh Group has posted a 2% increase in revenue from continuing operations, to $6.7 billion (€6.19 billion), for its financial year 2019.

Adjusted EBITDA at the group was up 8% at constant currency levels, but adjusted earnings per share increased by 10%, the group said.

The group saw fourth quarter revenue rise 1%, with its glass packaging business performing strongly in Europe in the quarter, it said.

In addition, beverage can shipments were up 4% for the quarter, and 5% for the year.

'Significant Progress'

“2019 was a year of significant progress for the Group. Metal Packaging demand was strong, notably in the Americas, and global beverage can shipments increased by 5%," commented Paul Coulson, Ardagh chairman and chief executive.

"Glass Packaging Europe delivered another excellent year of growth, while Glass Packaging North America successfully stabilised earnings. The sustainability-driven demand backdrop for our infinitely-recyclable products remains favourable and we look to further progress in 2020.”

Ardagh has forecast an adjusted EBITDA of approximately $1.2 billion for the coming financial year.

© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine.

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