Sustainable packaging solution provider Ardagh Group has announced $2.35bn in revenue for the second quarter (Q2) of financial year 2024 (FY24), compared to $2.446bn in the same period of the previous year.
The company’s loss before tax was $175m for the quarter, compared to the $100m loss reported in Q2 FY23.
Its overall loss for the period was $205m against a loss of $97 in Q2 FY23.
The group's adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) remained stable at $383m in Q2 FY24.
Ardagh Metal Packaging (AMP)-Europe's revenue increased by 2% to $566m in the three months ended 30 June 2024, compared with $555m in Q2 FY23.
This growth was attributed to favourable volume and mix effects and a positive impact from foreign currency translation.
However, AMP Americas saw a slight decline in revenue to end with $693m, marking a 1% decline from $700m in the same period last year.
Ardagh Glass Packaging (AGP)-Europe & Africa registered $696m in revenue over the quarter, decreasing 9% from $766m in Q2 FY23.
Meanwhile, revenue of AGP-North America decreased by 7% to $395m in Q2 FY24 compared with $425m in the prior year quarter.
The decline was largely a result of lower volume and mix effects, although this was somewhat mitigated by the pass-through of higher input costs.
In the year to date, Ardagh Group's revenue decreased to $4.52bn from $4.70bn in the same period in FY23.
The company registered a loss for the period of $341m, compared to a loss of $144m in the first half of FY23.
Recently, AGP-North America expanded its American-made bottles with the launch of a new series of craft beverage bottles.
