Ardagh Metal Packaging Raises Forecasts after a Solid Second Quarter

Ardagh Metal Packaging (AMP) reported solid results in the second quarter of 2025, with a 5% increase in global beverage can shipments and an 18% increase in its adjusted EBITDA, which reached $210 million, exceeding previous forecasts.

CEO Oliver Graham highlighted the strong performance in all regions, especially in North America, with 8% volume growth, and Brazil, with a 12% rebound. Adjusted EBITDA in the Americas grew 34% to $133 million, while in Europe it fell 3% to $77 million due to input cost pressures.

The company raised its annual adjusted EBITDA forecast to between $705 and $725 million, supported by the good pace of business and favorable exchange rate effects. Full-year shipment growth estimates remain at 3–4%, with stable forecasts for adjusted free cash flow and capex, above 150 and 200 million, respectively.

AMP ended the quarter with $680 million in liquidity and reduced its net debt to adjusted EBITDA ratio to 5.3 times, compared to 5.8 the previous year. In addition, a regular quarterly dividend of $0.10 per share was announced.

For the third quarter, the company expects adjusted EBITDA of between $200 and $210 million, compared to $196 million recorded in the same period of 2024.