Ardagh Group has announced its financial results for the second quarter
Ardagh Group S.A. has announced its financial results for the second quarter ended 30 June 2017.
* Revenue increased by 58% to EUR 2,021 million with pro forma growth of 1% at actual and constant currency;
* Adjusted EBITDA increased by 48% to EUR 379 million, with pro forma growth of 6%;
* Adjusted EBITDA margin of 18.8%, an increase of 100bps on a pro forma basis;
* Earnings per share EUR 0.13 (2016: loss per share EUR 0.34);
* Adjusted earnings per share of EUR 0.49, up from EUR 0.10 in the prior year;
* Net debt to LTM Adjusted EBITDA reduced from 5.3x to 5.1x during the quarter;
* 10-year GBP 400 million Senior Notes issuance, further improving debt maturities to almost 7 years;
* $750 million of available cash and IPO proceeds used or allocated to repay debt to date in 2017;
* Quarterly cash dividend of US 0.14 per common share, payable on 31 August 2017;
* Prior guidance for 2017 Adjusted EBITDA of EUR 1.4 billion (USD 1.5 billion) was based on then prevailing exchange rates. At current exchange rates this guidance becomes EUR 1.37 billion (USD 1.6 billion) due entirely to currency. Targeted leverage of approximately 4.75x Adjusted EBITDA at 31 December 2017 is unchanged.
Group revenue in the quarter ended 30 June 2017 increased by 58% to EUR 2,021 million, compared with the same period last year. Revenue growth principally reflected the Beverage Can Acquisition, completed on 30 June 2016, as well as organic growth of 1%. Second quarter Adjusted EBITDA of EUR 379...
* Revenue increased by 58% to EUR 2,021 million with pro forma growth of 1% at actual and constant currency;
* Adjusted EBITDA increased by 48% to EUR 379 million, with pro forma growth of 6%;
* Adjusted EBITDA margin of 18.8%, an increase of 100bps on a pro forma basis;
* Earnings per share EUR 0.13 (2016: loss per share EUR 0.34);
* Adjusted earnings per share of EUR 0.49, up from EUR 0.10 in the prior year;
* Net debt to LTM Adjusted EBITDA reduced from 5.3x to 5.1x during the quarter;
* 10-year GBP 400 million Senior Notes issuance, further improving debt maturities to almost 7 years;
* $750 million of available cash and IPO proceeds used or allocated to repay debt to date in 2017;
* Quarterly cash dividend of US 0.14 per common share, payable on 31 August 2017;
* Prior guidance for 2017 Adjusted EBITDA of EUR 1.4 billion (USD 1.5 billion) was based on then prevailing exchange rates. At current exchange rates this guidance becomes EUR 1.37 billion (USD 1.6 billion) due entirely to currency. Targeted leverage of approximately 4.75x Adjusted EBITDA at 31 December 2017 is unchanged.
Group revenue in the quarter ended 30 June 2017 increased by 58% to EUR 2,021 million, compared with the same period last year. Revenue growth principally reflected the Beverage Can Acquisition, completed on 30 June 2016, as well as organic growth of 1%. Second quarter Adjusted EBITDA of EUR 379...
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