Ardagh Metal Packaging S.A. (NYSE:AMBP) Q2 2022 Earnings Conference Call July 28, 2022 9:00 AM ET
Company Participants
David Bourne - Chief Financial Officer
Oliver Graham - Chief Executive Officer
Conference Call Participants
Kyle White - Deutsche Bank
George Staphos - Bank of America
Mark Wilde - Bank of Montreal
Arun Viswanathan - RBC Capital Markets
Angel Castillo - Morgan Stanley
Jay Mayers - Goldman Sachs
Ed Brucker - Barclays
Michael Wolfe - Credit Suisse
Operator
Welcome to the Ardagh Metal Packaging S.A. Second Quarter 2022 Update Call. Today's conference is being recorded.
At this time, I'd like to turn the conference over to Mr. Oliver Graham, CEO of Ardagh Metal Packaging. Please go ahead.
Oliver Graham
Thank you, Anna. Welcome, everybody, and thank you for joining today for Ardagh Metal Packaging second quarter 2022 earnings call, which follows the earlier publication of AMP's earning release for the second quarter. We have also added an earnings presentation onto our investor website for your reference. I'm joined today by David Bourne, AMP's Chief Financial Officer; and by Stephen Lyons, AMP's Investor Relations Officer. Before moving to your questions, I'll first provide some introductory remarks around AMP's performance and outlook.
Remarks today will include certain forward-looking statements. These reflect circumstances at the time they are made, and the company expressly disclaims any obligation to update or revise any forward-looking statements. Actual results or outcomes may differ materially from those that may be expressed or implied due to a wide range of factors, including those set forth in AMP's most recently filed Form 20-F with the SEC and any other public filings. AMP's earnings release and related materials for the second quarter can be found on AMP's website at ardaghmetalpackaging.com. Information regarding the use of non-IFRS financial measures may also be found in the Notes section of the earnings release, which also includes a reconciliation to the most comparable IFRS measures of adjusted EBITDA, adjusted operating cash flow and adjusted free cash flow. Details of AMP's forward-looking statements disclaimer can be found in AMP's earnings release.
If I turn to some opening remarks. For the second quarter of 2022, we are pleased to have delivered a result in line with our guidance despite currency headwinds and unprecedented inflationary and supply chain pressures. Global demand remains robust. And while the near-term macroeconomic outlook is more challenging and less predictable, the beverage can industry has historically proven resilient through economic cycles. We remain confident in the long-term secular growth of the beverage can, from which we're well placed to capitalize. That growth continues to be underpinned by category growth and expansion with 75% of beverage innovation in North America weighted towards the beverage can; the cans' pack-mix advantages in terms of efficiency, quality and branding potential; and strong backing by favorable sustainability characteristics and associated regulatory drivers.