Ardagh Metal Packaging SA · Q2 2025 earnings

Briefing

Ardagh Metal Packaging beats Q2 with 18% Adjusted EBITDA growth and raises full-year guidance to $705–725M

Ardagh Metal Packaging reported strong second-quarter 2025 results, with revenue rising 16% to $1.46 billion and Adjusted EBITDA up 18% to $210 million, exceeding guidance. Global beverage can shipments grew 5%, led by over 8% growth in the Americas. CEO Oliver Graham upgraded full-year Adjusted EBITDA guidance to $705–725 million while maintaining 3–4% shipment growth expectations and a $0.10 quarterly dividend.

• Revenue reached $1.46B (+16% reported, +13% constant currency) with Adjusted EBITDA of $210M (+18%), topping the high end of Q2 guidance.
• Americas Adjusted EBITDA surged 34% to $133M on strong volume; Europe EBITDA fell 3% to $77M on input-cost recovery timing.
• Global beverage can shipments rose 5%, including 8% growth in North America and 12% in Brazil.
• Full-year 2025 Adjusted EBITDA guidance was raised to $705–725M; Q3 Adjusted EBITDA is expected at $200–210M.
• Net debt to Adjusted EBITDA improved to 5.3x with $680M total liquidity; adjusted EPS was $0.08 versus $0.06 a year ago.

Headline financials

Revenue & EPS history

Management raised full-year 2025 Adjusted EBITDA guidance to $705–725 million (from prior range), expects Q3 Adjusted EBITDA of $200–210 million, maintains 3–4% shipment growth, at least $150M adjusted free cash flow, and capex just over $200M.