Ardagh Group has reported strong results for the fourth quarter of 2020.
The company reported that metal packaging shipments increased by 7% in Q4 and 5% for the year; speciality can volumes increased by 13% for the year. Its Q4 adjusted EBITDA increased by 5% to $281 million (€231 million), led by growth of 27% in metal beverage packaging.
Ardagh holds a 42% interest in Trivium Packaging, a major supplier of metal packaging to the food and speciality and personal care markets. Trivium produces steel and aluminium aerosols for various markets.
Ardagh’s business growth investment programme is on track in all regions, with new lines in Olive Branch, Mississippi ramping up, expansion underway in Winston-Salem, North Carolina, and a new plant in Huron, Ohio under development. The company’s investment programme increased to $2.1 billion (€1.7 billion) for 2021-2024, due to additional metal beverage packaging growth opportunities.
Paul Coulson, chairman and chief executive of Ardagh, said: “The Group performed well in the quarter, with strong earnings growth in metal beverage packaging and volume growth in glass packaging.
“The resilience of our business, the adaptability of our teams and the outlook for our sustainable products was underlined in 2020. We remain focused on growth and have increased our 2021-2024 business growth investment programme. These highly accretive investments underpin accelerated growth, including a projected doubling in metal beverage packaging adjusted EBIDTA by 2024. We look forward to further strong progress in 2021.”
For the full year of 2020, Ardagh’s revenue increased by $71 million (€58 million) to $6.7 billion (€.5 billion), compared to $6.6 billion (€5.4 billion) in 2019.
The firm also advanced its sustainability agenda in 2020. Its revised strategy, overseen by the Board Sustainability Committee, commits Ardagh to adopt science-based sustainability targets, resulting in a target of a 27% reduction in total carbon emissions by 2030.