Ardagh Group S.A.: fourth quarter and full year 2019 results

Highlights
Paul Coulson, Chairman and Chief Executive, said, “2019 was a year of significant progress for Ardagh Group. Metal Packaging demand was strong, notably in the Americas, and global beverage can shipments increased by 5%. Glass Packaging Europe delivered another excellent year of growth, while Glass Packaging North America successfully stabilized earnings. The sustainability-driven demand backdrop for our infinitely-recyclable products remains favourable and we look to further progress in 2020.”

• Revenue from Continuing Operations increased by 2% at constant currency, to 6.7 billion USD fort he year;
• Adjusted EBITDA from Continuing Operations increased by 8% at constant currency, to 1,173 million USD;
• Adjusted earnings per share increased by 10% at constant currency to 1.82 USD (2018: 1.69 USD);
• Earnings per share of 6.17 USD for the year (2018: loss per share of 0.40 USD);
• Fourth quarter revenue and Adjusted EBITDA growth of 1% and 6% respectively at constant currency;
• Global beverage can shipments growth of 4% for the quarter and 5% for the year, with full year specialty can growth of 6%;
• Glass Packaging revenue and Adjusted EBITDA growth of 2% and 20% respectively at constant currency in the quarter, reflecting continued strong delivery in Europe and stabilization in North America;
• Food & Specialty Packaging divestment completed in October 2019, with proceeds used to repay debt;
• Leverage reduced to 4.5x at year end, with further maturity and interest rate savings achieved during the year;
• 2020 outlook: Adjusted EBITDA of approximately 1.2 billion USD; Adjusted free cash flow of 375 -400 million USD,before Business Growth Investments of approximately 250 million USD; Adjusted earnings per share of 1.48 -1.64⁽³⁾ USD; First quarter Adjusted EBITDA of approximately 270 million USD.

¹ Continuing Operations results unless stated otherwise. For a reconciliation to the most comparable GAAP measures, see page 3, 11 and 12.
² Payable on April 1, 2020 to shareholders of record on March 18, 2020.
³ 2020 Adjusted EPS outlook excludes contribution from joint venture.

For more information visit the Investors Section.