Packaging company Ardagh Group saw an increase of 22% in 2016 revenue, totalling €6.3 billion.
The company attributed the leap to beverage-can assets acquired from metal and plastic packaging company Ball Corporation and Rexam PLC, acquired on 30 June 2016, prior to the merger of the two entities.
On a pro-forma basis, group revenue was €7.6 billion in 2016, a decrease of 2% on a constant-currency basis.
Ardagh Group said that the lower revenue was primarily a result of lower input costs, as well as diminished weather-related volumes in its metal-packaging segment in Europe and beer volumes in Glass North America.
Metal-packaging revenue grew to €3.3 billon in 2016, an increase of 61%. Its pro-forma revenue was €4.6 million, a drop of 2% on a constant-currency basis.
Revenue from its glass-packaging unit was €3.1 billion, which was 2% lower than 2015 (in constant currency). Its North American and European divisions dropped 3% and 1%, respectively, at constant exchange rates.
The company had an adjusted EBITDA of €1.2 billion, an increase of 24%, compared to 2016.
Ardagh Group operates 109 glass- and metal-manufacturing facilities in 22 countries around the world, employing over 23,500 staff members.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Karen Henderson. Click subscribe to sign up to ESM: The European Supermarket Magazine.