Ardagh Glass Packaging North America had exceptional costs of $166 million related to the closure of two manufacturing facilities.
In its half-year financial report for 2024, it outlined one-off, exceptional costs related to its Houston, Texas production facility and the indefinite curtailment of the Seattle, Washington production site.
This included $131 million related to the impairment of property, plant and equipment and $35 million of restructuring and other costs primarily in connection with these activities.
The same division also reported $3 million of costs related to fire and storm damage in the first half of the year.
In the report Ardagh Glass Packaging saw revenue decline in Europe and Africa and in its North American divisions in the first half of the year.
European and African revenue decreased by $117 million, or 8%, to $1,340 million in the six months ended June 30, 2024, compared with $1,457 million in the same period last year.
The decrease was principally due to the pass through of lower input costs to customers, notably energy, partly offset by favourable volume/mix effects.
In North America revenue decreased by $78 million, or 9%, to $781 million in the six months ended June 30, 2024, compared with $859 million in the same period last year.
The decrease principally reflected lower volume/mix, partly offset by the pass through of higher input costs.
In the same note it said Demand for beverage products within its glass packaging business is strongest during the summer and during periods of warm weather, as well as during the period leading up to holidays in December.
02.08.2024, Ardagh Glass Packaging
Les informations publiées sur notre portail sont soumises au droit d´auteur et appartiennent à la société en question resp. à la source des nouvelles. Tous les droits sont réservés expressément. N´importe quel utilisateur qui accède à un tel matériel peut faire ainsi seulement pour sa propre utilisation personnelle, et l´usage d´un tel matériel est au risque unique de l´utilisateur. La redistribution ou toute autre exploitation commerciale d´un tel matériel de nouvelles est expressément interdite. Là où un tel matériel de nouvelles est fourni par un tiers, chaque utilisateur accepte d´observer et être lié par les limites spécifiques de l´utilisation s´appliquant à un tel matériel de nouvelles. Glass Global ne représente ou n´approuve pas l´exactitude ou la fiabilité d´aucune des informations citées dans les nouvelles ou pages externes auxquelles on se réfère ici.
Should the content or the design of these sites violate third parties rights or legal prescriptions, we kindly ask you to send us a respective message without invoice or cost. We guarantee that passages where the claim is considered as justified will be removed immediately, without any necessity to involve any lawyer into this issue. We will reject any claim caused by submission of a honorary note in this regard without any prior contact and confirmation of the issueby us and we reserve the right ssue counter claim ourselves because of violation of aforesaid conditions.