Ardagh Group S.A. - Third Quarter 2026 Results

LUXEMBOURG, Oct. 22, 2026 /PRNewswire/ -- Ardagh Group S.A. today announced results for the third quarter ended September 30, 2026. 

Third Quarter 2026 highlights:

• Third Quarter 2026 Adjusted EBITDA of $392 million, broadly unchanged versus the prior year
• Last Twelve Months (LTM) Adjusted EBITDA of $1,466 million, +9% annual growth
• Cash and available liquidity of $1,470 million at September 30, 2026

Mark Porto, Executive Chairman of Ardagh Group, said:

"Ardagh Group delivered a resilient performance for the third quarter, with Adjusted EBITDA broadly in line with the prior year quarter, despite the more challenging macro-economic environment. Performance for Ardagh Metal Packaging (AMP) included Adjusted EBITDA growth slightly ahead of guidance, and growth in global beverage can shipments. Performance in Ardagh Glass Packaging (AGP) was in line with our previously lowered expectations - following the disruption in global energy markets – with lower Adjusted EBITDA versus the prior year quarter, reflecting inflationary pressures and challenging glass operating conditions.

AMP has moderately upgraded its full year 2026 Adjusted EBITDA guidance range and has indicated plans to accelerate its growth investments in Europe, reflecting strong customer demand. AGP is pleased to be able to maintain its full year 2026 Adjusted EBITDA guidance, with no additional downgrade despite persistently high energy prices, which is testament to our energy hedging strategy. However, glass demand conditions remain subdued and well below historic levels, particularly so in Northern Europe. In response to which we are considering further action to address excess capacity with the possible closure of two additional furnaces, in addition to actions already taken in Germany, which is consistent with our Clearly Ardagh glass turnaround strategy."

Ardagh Group Adjusted EBITDA of $392 million for the quarter was broadly in line with the prior year quarter on a reported basis, and down 2% on a constant currency basis. This was driven by growth of 2%, on both a reported and constant currency basis, in AMP to $213 million, partly offset by a decline of 4% (-6% at constant currency) in AGP to $179 million.

AMP global shipments increased by 2% in the quarter versus the prior year quarter, due to growth of 6% in Europe, partly offset by a 1% decrease in the Americas – reflecting a 1% decline in North America and a 5% decline in Brazil.

AGP global shipments declined by 1% in the quarter versus the prior year quarter, due to a 6% decline in North America, partly offset by an increase of over 1% in Europe & Africa shipments – reflecting growth of 1% in Europe and an increase of 2% in Africa.

AGP is reviewing capacity across its glass manufacturing facilities in Europe, in response to challenging market conditions which have resulted in reduced customer demand and surplus production capacity. Following careful consideration, AGP is proposing to close a furnace at its Holmegaard facility in Denmark and a furnace at its Knottingley facility in the UK. AGP is currently engaging in discussions on these proposals with the management teams and local employee representatives across both of these locations. Ongoing supply will not be affected by these proposals, as customers will continue to be served from available capacity across other facilities. 

Ardagh Group ended the quarter with consolidated cash and available liquidity of $1,470 million at September 30, 2026, of which $734 million is held in ARGID Group (ARGID) – which refers to Ardagh Group S.A. and certain of its subsidiaries – includes the glass packaging operations but excludes AMP.

On July 28, 2026, Ardagh Group announced the results of its Excess Proceeds Offer, following which approximately $90.4 million, arising from the redemption of the AMP preferred shares in December 2025, was applied towards the purchase of first lien senior secured notes and second lien senior secured notes.

Ardagh Group net debt to Adjusted EBITDA reduced to 6.0x at September 30, 2026, down from 7.8x at the end of the prior year quarter (prior to the impact of the recapitalization). ARGID net debt to Adjusted EBITDA was 5.5x at September 30, 2026.

On October 15, 2026, a summary judge of the district court of Luxembourg withdrew an order against Ardagh Holdings S.A. that, prior to its withdrawal, had prohibited it from proceeding with the sale of all or part of its interests in Ardagh Metal Packaging S.A. Following the withdrawal, Ardagh Holdings S.A. has now re-engaged with its advisers to prepare for a potential sale of Ardagh Metal Packaging S.A., as outlined in its press release dated August 13, 2026 – please refer to https://ir.ardaghgroup.com/news-events/press-releases for additional information.

On October 19, 2026, following the decision of Ontario Teachers' Pension Plan to sell its majority stake in Trivium Packaging B.V. ("Trivium") to Silgan Holdings Inc. ("Silgan") and funds affiliated with American Industrial Partners ("AIP"), Ardagh Group, as minority joint venture partner, announced it has entered into an agreement to sell its entire ~42% stake in Trivium. The transaction values Trivium at approximately $3.4 billion. The proposed sale is expected to close in mid-2027 and is subject to required regulatory approvals, completion of applicable works council consultation processes, and satisfaction of other customary closing conditions. The transaction is expected to result in estimated net cash proceeds to Ardagh Group of approximately $90 million, which are expected to be used towards reinvestment in the business or deleveraging.

A copy of the third quarter 2026 interim report be found at: https://ir.ardaghgroup.com/financial-results

About Ardagh Group
Ardagh Holdings S.A. is the ultimate parent company of Ardagh Group, which is a global supplier of infinitely recyclable metal beverage and glass container packaging for brand owners around the world. Ardagh Group operates 58 metal and glass production facilities in 16 countries, employing approximately 19,000 people with sales of approximately $9.6 billion.

For more information, visit https://ir.ardaghgroup.com/

Earnings Webcast and Conference Call Details

Ardagh Group S.A. will hold its third quarter 2026 earnings webcast and conference call for investors at 11.00 a.m. EDT (4.00 p.m. BST) on Thursday October 22, 2026. Please use the following webcast link to register for this call:

Webcast registration and access:
https://event.webcasts.com/starthere.jsp?ei=1777078&tp_key=54c16c3d0f

Conference call dial in:

United States/Canada: +1 646-769-9200
International: +44 (0)20 7769 6464
Participant pin code: 5992209

Disclaimer
This release presents Adjusted EBITDA and net debt to Adjusted EBITDA, which are not defined under IFRS Accounting Standards. Adjusted EBITDA consists of profit/(loss) for the period before income tax charge/(credit), net finance expense, depreciation and amortization, exceptional operating items and share of profit or loss in equity accounted joint venture. We use Adjusted EBITDA to evaluate and assess our segment performance. Adjusted EBITDA is presented because we believe that it is frequently used by securities analysts, investors and other interested parties in evaluating companies in the packaging industry. However, other companies may calculate Adjusted EBITDA in a manner different from ours. Adjusted EBITDA and net debt to Adjusted EBITDA are not measures of financial performance under IFRS Accounting Standards and should not be considered an alternative to profit/(loss) as indicators of operating performance or any other measures of performance derived in accordance with IFRS Accounting Standards.

This release may include "forward-looking statements," including certain statements, estimates, targets and projections provided by Ardagh Group S.A. with respect to its anticipated future performance, financial condition, plans, objectives and business outlook. In some cases, these forward-looking statements can be identified by the use of forward-looking terminology, including the words "believes," "could," "estimates," "anticipates," "aims," "expects," "intends," "may," "will," "plans," "continue," "potential," "predict," "project," "target," "seek," "should," or "would," or, in each case, their negative or comparable terminology. These forward-looking statements include all matters that are not historical facts.

By their nature, forward-looking statements involve known and unknown risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Such forward-looking statements are not guarantees of future performance. You should not place undue reliance on these statements. They reflect significant assumptions and subjective judgments by management, which may or may not prove to be correct, and there can be no assurance that any estimates, targets or projections are attainable or will be realized. Neither Ardagh Group S.A., nor any of its affiliates or directors, partners, employees or advisers, accepts any responsibility for the accuracy or completeness of such statements or assumes any obligation to update or revise them to reflect changes in expectations or events, conditions or circumstances on which such statements are based.

SOURCE Ardagh Group S.A.