Ardagh Metal Packaging S.A. (AMBP): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el mundo dinámico del envasado de metales, Ardagh Metal Packaging S.A. (AMBP) surge como una fuerza transformadora, revolucionando cómo las industrias globales y las industrias alimentarias abordan las soluciones de contenedores sostenibles. Con un modelo de negocio estratégico que combina sin problemas la fabricación innovadora, la responsabilidad ambiental y el diseño de vanguardia, AMBP no solo produce envases de metal, sino que elaboran un futuro donde la funcionalidad cumple con la sostenibilidad. Su enfoque integral toca todos los aspectos de la producción de contenedores de metales, desde el abastecimiento de materia prima hasta las iniciativas de reciclaje avanzado, posicionándolos como un jugador fundamental en el ecosistema de empaque global.

Ardagh Metal Packaging S.A. (AMBP) - Modelo de negocios: asociaciones clave

Proveedores estratégicos de aluminio y acero

Ardagh Metal Packaging ha establecido asociaciones con proveedores clave de aluminio y acero a nivel mundial:

Proveedor	Volumen de suministro anual	Duración del contrato
Novelis Inc.	425,000 toneladas métricas	Acuerdo a 5 años
Corporación de la pelota	275,000 toneladas métricas	Contrato de 3 años

Fabricantes de bebidas y alimentos globales

Las asociaciones clave del cliente incluyen:

• Compañía Coca-Cola: contrato de embalaje anual de $ 185 millones
• Anheuser-Busch InBev: Acuerdo de varios años de $ 220 millones
• PepsiCo: Asociación de envasado de $ 145 millones

Socios de fabricación de equipos

Asociaciones de tecnología y equipo:

Pareja	Enfoque tecnológico	Valor de inversión
Grupo lateral	Maquinaria de embalaje	$ 42 millones
KHS GMBH	Tecnología de llenado	$ 35 millones

Socios de reciclaje y sostenibilidad

Métricas de reciclaje de colaboración:

• Asociaciones de reciclaje de circuito cerrado: 7 acuerdos activos
• Uso anual de material reciclado: 215,000 toneladas métricas
• Tasa de reciclaje objetivo: 75% para 2025

Socios de logística y distribución

Asociaciones de transporte y distribución:

Socio de logística	Volumen de transporte anual	Cobertura geográfica
Logística XPO	185,000 toneladas métricas	América del norte
DB Schenker	135,000 toneladas métricas	Europa

Ardagh Metal Packaging S.A. (AMBP) - Modelo de negocio: actividades clave

Fabricación y producción de envases de metal

Capacidad de producción anual: 36 mil millones de unidades en 2023

Ubicaciones de las instalaciones de producción	Número de instalaciones
América del norte	12 instalaciones
Europa	8 instalaciones

Diseño e ingeniería de contenedores de metal

Inversión en I + D en 2023: $ 42.3 millones

• Tamaño del equipo de diseño: 127 ingenieros especializados
• Iteraciones anuales de diseño de contenedores nuevos: 64

Desarrollo del programa de sostenibilidad y reciclaje

Objetivo de tasa de reciclaje para 2024: 75%

Métrica de sostenibilidad	Rendimiento actual
Reducción de emisiones de carbono	22% desde 2020
Contenido reciclado en el embalaje	45%

Control de calidad e innovación de productos

Presupuesto de control de calidad: $ 18.7 millones en 2023

• Tasa de inspección de calidad: 99.8%
• Tasa de defectos del producto: 0.02%

Gestión y optimización de la cadena de suministro

Gastos operativos de la cadena de suministro: $ 213.6 millones en 2023

Métrica de la cadena de suministro	Actuación
Diversidad de proveedores	87 proveedores certificados
Eficiencia logística	98.5% entrega a tiempo

Ardagh Metal Packaging S.A. (AMBP) - Modelo de negocio: recursos clave

Instalaciones de fabricación avanzadas

A partir de 2024, Ardagh Metal Packaging opera 21 instalaciones de fabricación en varios países, incluidos:

Región	Número de instalaciones
América del norte	10
Europa	8
Sudamerica	3

Equipo de producción de embalaje de metal especializado

Inversión total de capital en equipos de fabricación: $ 782 millones a partir de 2023 informes financieros.

• Líneas de fabricación de lata de alta velocidad
• Tecnologías avanzadas de recubrimiento e impresión
• Equipo de formación de metal de precisión

Experiencia técnica

Detalles de la cartera de propiedad intelectual:

Categoría de IP	Número
Patentes activas	47
Marcas registradas	22

Fuerza laboral hábil

Fuerza laboral total a partir del cuarto trimestre 2023: 5.600 empleados

Categoría de empleado	Porcentaje
Técnicos de fabricación	68%
Profesionales de ingeniería	15%
Gestión	12%
Personal administrativo	5%

Recursos financieros

Métricas financieras a partir del informe anual de 2023:

• Activos totales: $ 3.2 mil millones
• Efectivo y equivalentes en efectivo: $ 287 millones
• Deuda total: $ 1.9 mil millones

Ardagh Metal Packaging S.A. (AMBP) - Modelo de negocio: propuestas de valor

Soluciones de envasado de metal sostenible y reciclable

En 2023, el envasado de metal de Ardagh informó que el 87% de su empaque de metal era reciclable. La compañía produjo 16,6 mil millones de contenedores de metal con un potencial de tasa de reciclaje del 75,4%.

Métrica de sostenibilidad	Valor 2023
Porcentaje de envasado reciclable	87%
Contenedores de metal totales producidos	16.6 mil millones
Tasa de reciclaje potencial	75.4%

Contenedores de metal livianos de alta calidad

Los contenedores de envases de metal de Ardagh promedian 30 gramos por unidad, reduciendo el uso del material y los costos de transporte.

• Peso promedio del contenedor: 30 gramos
• Eficiencia del material: 15% más ligero que el estándar de la industria
• Reducción de la huella de carbono: estimado 22% más bajo en comparación con el embalaje alternativo

Diseños de embalaje personalizables para industrias de bebidas y alimentos

En 2023, la compañía ofreció más de 250 configuraciones de diseño personalizadas para segmentos de bebidas y envases de alimentos.

Categoría de diseño	Número de configuraciones
Diseños de embalaje de bebidas	175
Diseños de embalaje de alimentos	75
Configuraciones personalizadas totales	250

Alternativas de embalaje rentables

Las soluciones de embalaje de Ardagh Metal Packaging demostraron un Reducción de costos del 12% en comparación con los métodos de empaque tradicionales en 2023.

• Manufactura de costo de eficiencia: 12% más bajo
• Ahorro de costos del material: estimado $ 0.03 por contenedor
• Ahorro anual de costos para grandes clientes: hasta $ 1.5 millones

Opciones de embalaje ambientalmente responsables

La compañía invirtió $ 45 millones en tecnología de envasado sostenible en 2023, reduciendo las emisiones de gases de efecto invernadero en 28,000 toneladas métricas.

Inversión ambiental	Valor 2023
Inversión en tecnología sostenible	$ 45 millones
Reducción de emisiones de gases de efecto invernadero	28,000 toneladas métricas
Uso de energía renovable	22%

Ardagh Metal Packaging S.A. (AMBP) - Modelo de negocio: relaciones con los clientes

Acuerdos contractuales a largo plazo con las principales marcas de bebidas

A partir del cuarto trimestre de 2023, Ardagh Metal Packaging ha establecido acuerdos contractuales con los siguientes clientes clave:

Cliente	Duración del contrato	Volumen anual estimado
Anheuser-Busch InBev	Acuerdo a 5 años	1.200 millones de unidades
Monster Beverage Corporation	Acuerdo de 3 años	650 millones de unidades
Heineken N.V.	Acuerdo de 4 años	890 millones de unidades

Soporte técnico y servicios de diseño colaborativo

Las capacidades de soporte técnico incluyen:

• Soporte de ingeniería del cliente 24/7
• Desarrollo de prototipo rápido
• Plataformas de colaboración de diseño digital
• Consulta de innovación de materiales

Equipos de gestión de cuentas dedicados

Estructura de la relación con el cliente:

Segmento de clientes	Gerentes de cuentas dedicados	Tiempo de respuesta promedio
Marcas de bebidas globales	12 equipos especializados	4 horas
Productores de bebidas regionales	8 equipos especializados	6 horas

Innovación y personalización de productos continuos

Métricas de inversión de innovación:

• Gastos de I + D en 2023: $ 42.3 millones
• Nuevos ciclos de desarrollo de productos: 6-8 meses
• Soluciones de envasado personalizado: 37% de la cartera de productos totales

Informes regulares de rendimiento e sostenibilidad

Métricas de informes de sostenibilidad:

Métrica de informes	2023 rendimiento	Frecuencia de informes
Reducción de emisiones de carbono	18% de reducción año tras año	Trimestral
Uso de material reciclado	52% de la entrada de material total	Semestral
Índice de satisfacción del cliente	8.7/10	Anual

Ardagh Metal Packaging S.A. (AMBP) - Modelo de negocio: canales

Equipos de ventas directos

A partir del cuarto trimestre de 2023, Ardagh Metal Packaging emplea a 317 representantes de ventas directas en América del Norte y Europa. Su equipo de ventas generó $ 1.47 mil millones en ingresos en 2023.

Región	Tamaño del equipo de ventas	Ventas anuales promedio por representante
América del norte	184	$ 4.2 millones
Europa	133	$ 3.8 millones

Ferias y conferencias comerciales de la industria

Ardagh Metal Packaging participa en 12 principales ferias comerciales de la industria anualmente, con una inversión de marketing estimada de $ 1.3 millones.

• Cumbre de innovación de envases de bebidas
• Conferencia de contenedores de metal
• Expo de envasado global
• Exposición de tecnología de lata internacional

Plataformas digitales en línea

Los canales de ventas digitales generaron $ 245 millones en ingresos en 2023, lo que representa el 16,7% de las ventas totales.

Plataforma digital	Volumen de transacción anual	Tasa de participación del cliente
Sitio web corporativo	$ 87 millones	42%
Portal en línea B2B	$ 158 millones	58%

Redes de asociación estratégica

Ardagh mantiene 37 asociaciones estratégicas en los sectores de bebidas y envases de alimentos, generando $ 672 millones en ingresos colaborativos en 2023.

• Compañía Coca-Cola
• Pepsico
• Anheuser-Busch InBev
• Heineken

Servicios de consulta técnica

Los servicios de consulta técnica generaron $ 93 millones en 2023, con 124 consultores técnicos dedicados.

Tipo de consulta	Ingresos anuales	Valor promedio del proyecto
Diseño de envasado	$ 42 millones	$338,000
Optimización de fabricación	$ 51 millones	$411,000

Ardagh Metal Packaging S.A. (AMBP) - Modelo de negocio: segmentos de clientes

Fabricantes de bebidas grandes

Ardagh Metal Packaging sirve a los principales fabricantes de bebidas globales con una importante presencia en el mercado:

Cliente	Volumen de lata anual	Cuota de mercado
Anheuser-Busch InBev	6.2 mil millones de latas	22%
Heineken N.V.	4.800 millones de latas	17%
Molson Coors Beverage Company	3.500 millones de latas	12%

Empresas de embalaje de alimentos

Los segmentos clave de los clientes incluyen:

• Compañía de sopa Campbell
• Kraft Heinz
• Molinos generales

Productores de cerveza artesanal y bebidas especializadas

Detalles del segmento de mercado:

Segmento	Tasa de crecimiento anual	Puede demandar
Productores de cerveza artesanal	8.5%	1.200 millones de latas
Productores de bebidas especializadas	6.3%	750 millones de latas

Marcas globales de bienes de consumo

Los principales clientes de la marca Global Consumer Goods:

• Coca-Cola Company: 2.9 mil millones de latas anualmente
• PepsiCo: 2.5 mil millones de latas anualmente
• Nestlé: 1.7 mil millones de latas anualmente

Mercados de bebidas regionales

Desglose del mercado regional:

Región	Tamaño del mercado	Producción de lata
América del norte	$ 4.2 mil millones	12.5 mil millones de latas
Europa	$ 3.8 mil millones	10.300 millones de latas
América Latina	$ 1.5 mil millones	4.600 millones de latas

Ardagh Metal Packaging S.A. (AMBP) - Modelo de negocio: Estructura de costos

Gastos de adquisición de materia prima

A partir del tercer trimestre de 2023, los gastos de materia prima de empaquetado de metal de Ardagh totalizaron $ 1.09 mil millones, lo que representa aproximadamente el 60-65% de los costos operativos totales. La adquisición de lingotes de aluminio constituía el componente más grande de los gastos de materia prima.

Categoría de materia prima	Costo anual (USD)	Porcentaje de gastos totales de materia prima
Lingotes de aluminio	$ 682 millones	62.4%
Revestimientos y forros	$ 214 millones	19.6%
Otros componentes de metal	$ 194 millones	17.8%

Costos de fabricación y producción

Los costos de fabricación para el empaque de metal Ardagh en 2023 alcanzaron $ 1.45 mil millones, con categorías de gastos clave de la siguiente manera:

• Depreciación del equipo de fábrica: $ 278 millones
• Consumo de energía: $ 213 millones
• Mantenimiento y reparaciones: $ 164 millones
• Control de calidad: $ 92 millones

Inversiones de investigación y desarrollo

El gasto de I + D para 2023 fue de $ 87.6 millones, lo que representa el 3.2% de los ingresos totales de la compañía.

Área de enfoque de I + D	Inversión (USD)
Innovación de envasado sostenible	$ 42.3 millones
Optimización del proceso de fabricación	$ 31.2 millones
Investigación de Ciencias de Materiales	$ 14.1 millones

Logística y transporte

Los gastos anuales de logística y transporte para 2023 ascendieron a $ 312 millones, con el siguiente desglose:

• Transporte de camiones: $ 186 millones
• Freer Freight: $ 84 millones
• Envío y logística marítima: $ 42 millones

Labor y gastos generales operativos

Los costos totales de mano de obra y gastos generales operativos en 2023 fueron de $ 524 millones:

Categoría de costos	Cantidad (USD)	Porcentaje de total
Trabajo directo	$ 276 millones	52.7%
Salarios administrativos	$ 148 millones	28.2%
Beneficios y seguro	$ 100 millones	19.1%

Ardagh Metal Packaging S.A. (AMBP) - Modelo de negocio: flujos de ingresos

Venta de productos de envasado de metal

Para el año fiscal 2023, Ardagh Metal Packaging reportó ventas netas totales de $ 4.01 mil millones. La cartera de productos de la compañía incluye:

Categoría de productos	Contribución de ingresos
Latas de bebidas	$ 3.42 mil millones
Latas de comida	$ 580 millones

Servicios de diseño e ingeniería personalizados

Los servicios de diseño personalizado generaron aproximadamente $ 85 millones en ingresos adicionales para 2023, lo que representa el 2.1% de las ventas netas totales.

Modelos de precios basados ​​en volumen

Ardagh Metal Packaging implementa estrategias de precios escalonados con clientes clave:

• Contratos de alto volumen con descuentos de precios de hasta un 7%
• Valores anuales del contrato que van desde $ 50 millones a $ 250 millones
• Compromisos de volumen de compra mínimo

Contratos de fabricación a largo plazo

Tipo de contrato	Duración promedio	Valor anual estimado
Fabricantes de bebidas principales	5-7 años	$ 750 millones
Contratos de envasado de alimentos	3-5 años	$ 180 millones

Ingresos del programa de sostenibilidad y reciclaje

Las iniciativas de sostenibilidad generaron $ 42 millones en flujos de ingresos adicionales a través de programas de reciclaje y soluciones de empaque ecológicas en 2023.

Fuente de ingresos de sostenibilidad	Ingresos anuales
Primas de contenido reciclado	$ 22 millones
Comercio de crédito de carbono	$ 12 millones
Certificaciones de embalaje verde	$ 8 millones

Ardagh Metal Packaging S.A. (AMBP) - Canvas Business Model: Value Propositions

You're looking at the core reasons why brand owners choose Ardagh Metal Packaging S.A. (AMBP) for their products, grounded in their late 2025 operational and sustainability performance.

Infinitely recyclable and sustainable packaging solution

Ardagh Metal Packaging S.A. (AMBP) positions its beverage cans as a leading circular economy solution. The company's beverage cans now average 78% recycled aluminum content across its portfolio, a figure among the highest in the industry. 83% of AMP facilities achieved Zero Waste to Landfill status. This commitment is reflected in their emissions performance; Ardagh Metal Packaging S.A. achieved a 25% reduction in Scope 3 emissions compared to the 2020 baseline, surpassing its 2030 Science-Based Targets initiative goal several years early. Furthermore, for direct and energy-related emissions, Ardagh Metal Packaging S.A. recorded a 10% drop in Scope 1 & 2 emissions between 2023 and 2024, alongside an 18% reduction in emissions intensity since 2020. The company's overall global renewable electricity coverage reached 30% in 2024.

Here are the key sustainability metrics reported:

Metric	Value/Target	Region/Scope
Average Recycled Aluminum Content	78%	Beverage Cans (2024)
Scope 3 Emissions Reduction	25% vs 2020 baseline (Target surpassed)	Ardagh Metal Packaging (AMP)
Scope 1 & 2 Emissions Reduction	10% vs 2023 levels	Ardagh Metal Packaging (AMP)
Emissions Intensity Reduction	18% since 2020	Ardagh Metal Packaging (AMP)
Zero Waste to Landfill (ZWTL) Rate	83% of facilities	Ardagh Metal Packaging (AMP)
Global Renewable Electricity Coverage	30%	AMP (2024)

The company maintains a long-term goal to reduce its water intensity usage by 20% by 2030.

Cost pass-through mechanisms for volatile metal input prices

Ardagh Metal Packaging S.A. has contractual mechanisms that allow it to manage input cost volatility, which was evident in recent quarters. In the second quarter of 2025, reported revenue growth of 21% in the Americas reflected the pass-through of higher input costs to customers, including the impact of the higher Midwest premium in the U.S. Similarly, in the first quarter of 2025, revenue growth on a constant currency basis reflected the pass through to customers of higher input costs. For the third quarter of 2025, the constant currency revenue reflected the pass through of lower input costs to customers. Regarding external market pressures like tariffs, the CEO estimated the impact on the total retail price of a can would be less than 1 cent, with the expectation that costs would be passed on to the consumer.

Global supply footprint across Europe and the Americas

Ardagh Metal Packaging S.A. supports its value proposition with a significant, established operational base across two major continents. The company operates 23 metal beverage production facilities in nine countries, employing more than 6,000 people. Looking at 2024 revenue figures, the Americas contributed $2.75 billion, while Europe contributed $2.16 billion. For the third quarter of 2025, the company reported total revenue of $1,428 million and an Adjusted EBITDA of $208 million. Shipment performance in Q3 2025 showed Europe growing volumes by 2%, while the Americas saw a 3% decline, with North America shipments growing by 1%.

The regional performance highlights the scale of the footprint:

• North America shipments grew by 8% in Q2 2025.
• Americas Adjusted EBITDA increased by 34% in Q2 2025.
• Europe Q2 2025 revenue increased by 9% to $615 million.

Packaging innovation for high-growth categories like energy drinks

Ardagh Metal Packaging S.A. actively aligns its capacity and innovation efforts with high-growth beverage segments. In North America, the portfolio is heavily skewed towards faster-growing non-alcoholic categories. The energy drink category showed signs of stability, supporting an expectation for shipments to grow at least by low single digits in 2025. In Q1 2025, global shipments rose more than 6%, driven by growth in non-alcoholic categories, including the energy category returning to growth. Categories like sparkling water and carbonated soft drinks (CSDs) represent 60% of the portfolio. The company noted that capacity investments in North America proved powerful for trends in innovation and energy drinks, and the can continues to outperform glass in the beer category.

Lower carbon footprint compared to plastic or glass alternatives

The inherent material properties and high recycled content support the lower carbon value proposition. The CEO noted that the energy shock added more cost into glass than cans, and the can is seen as lowering carbon. The high recycled content of 78% in beverage cans minimizes the need for primary aluminum, which is energy-intensive to produce. Ardagh Metal Packaging S.A. is also focused on decarbonization levers such as investing in low-carbon transport and developing alternative low-carbon thermal solutions to further reduce its environmental impact relative to other substrates.

Ardagh Metal Packaging S.A. (AMBP) - Canvas Business Model: Customer Relationships

You're analyzing the core of Ardagh Metal Packaging S.A.'s (AMBP) value capture, which is deeply embedded in its customer relationships. These aren't quick sales; they are strategic alliances built on high-volume, specialized manufacturing.

Dedicated account management for large, global brand owners is the bedrock here. Ardagh Metal Packaging S.A. services leading brand owners globally, a fact reflected in its scale. For the three months ended September 30, 2025, the company generated revenue of $1,428 million, with an Adjusted EBITDA of $208 million for that quarter alone. This level of revenue is only sustainable through deep integration with major beverage producers.

The nature of these relationships is cemented by long-term, high-volume supply contracts with automatic cost adjustments. Management noted that following significant resets in 2024 and 2025, the North American business is now described as highly contracted and commercially resolved. This structure is key to managing input volatility; for instance, Q3 2025 revenue reflected the pass-through of higher input costs to customers. This mechanism helps stabilize margins, evidenced by the full-year Adjusted EBITDA guidance being raised to $720-$735 million for 2025.

The focus on innovation is a shared value proposition. The beverage can continues to benefit from innovation and share gains in customers' packaging mix, contributing to overall volume growth. This collaborative effort is essential, as Ardagh Metal Packaging S.A. is a leading global supplier of sustainable and infinitely recyclable metal beverage cans.

The service model requires high-touch service to ensure supply chain flexibility and reliability. The company's ability to manage global volumes, despite regional variations-like the 17% volume decline in Brazil in Q3 2025 offset by growth in Europe and North America-shows this operational agility is critical for keeping major customers supplied. The company maintained a strong total liquidity position of $627 million at September 30, 2025, which underpins this reliability.

Ultimately, the relationship is strategic, not transactional, due to high switching costs. The sheer scale of the required infrastructure investment by Ardagh Metal Packaging S.A. and the integration into a customer's packaging line create significant barriers for a brand owner to switch suppliers. This strategic alignment is supported by consistent capital allocation, with expectations for total capital expenditure in 2025 of approximately $200 million, of which about one-third relates to growth investment. The company also maintained its regular quarterly ordinary dividend at $0.10 per share through Q3 2025, signaling stability to its partners.

Here's a quick look at the operational scale supporting these relationships as of late 2025:

Metric	Value (Q3 2025 or Latest Available)	Context
Q3 2025 Revenue	$1,428 million	Total revenue for the quarter
Full Year 2025 Adjusted EBITDA Guidance	$720-$735 million	Upgraded guidance for the full fiscal year
Net Debt to Adjusted EBITDA Ratio	5.2x	Ratio as of September 30, 2025
Global Shipments Growth (YTD vs. Prior Period)	Up over 3%	Year-to-date growth through Q3 2025
Total Liquidity	$627 million	Position at September 30, 2025

The reliance on these large partners means that contract resets, such as those experienced in 2024 and 2025, are a key focus, with management suggesting 2026 might be a transition year following these events. The strength of the customer base is also reflected in the company's high ranking within its industry.

• Quant Industry Ranking (as of 11/28/2025): 2 out of 10.
• North America Shipments Growth (Q3 2025): 1%.
• Europe Shipments Growth (Q3 2025): 2%.
• Dividend per Ordinary Share (Q3 2025): $0.10.

Finance: draft 13-week cash view by Friday.

Ardagh Metal Packaging S.A. (AMBP) - Canvas Business Model: Channels

You're looking at how Ardagh Metal Packaging S.A. (AMBP) gets its infinitely recyclable metal beverage cans and ends into the hands of the brand owners, which is a massive, physical undertaking. The primary channel is direct, moving product straight from the factory floor to the customer's bottling line.

Direct sales and distribution from 23 manufacturing plants define the core physical channel. Ardagh Metal Packaging (AMP) operates 23 metal beverage production facilities. These plants are strategically located across nine countries to serve their key markets in Europe and the Americas. This physical footprint is the backbone of their ability to supply high-volume beverage producers.

The sales function relies on dedicated personnel to manage these large-scale, ongoing customer relationships. While the exact size of the sales force isn't public, we know the company employs more than 6,000 people globally to support operations, which includes the necessary commercial and technical support staff. These teams manage relationships with a wide variety of leading beverage producers across categories like beer, carbonated soft drinks, energy drinks, and hard seltzers.

The movement of product is managed through an integrated logistics network for just-in-time delivery to bottlers. This network spans their operational regions, primarily Europe and the Americas, ensuring that the cans arrive when needed to meet the fast-paced production schedules of their customers. The focus on volume growth, with shipments expected to rise between 2% and 3% in 2025, underscores the importance of this efficient physical flow.

For the financial community, the Investor Relations website for financial communication serves as a critical, non-physical channel. You can find the release of the Third Quarter 2025 results and related materials on their investor relations website, ir.ardaghmetalpackaging.com. This channel delivered key forward-looking guidance, projecting full year 2025 Adjusted EBITDA between $705 million and $725 million.

Here's a quick look at the scale of the physical channel as of late 2025, based on the latest reported figures:

Metric	Value	Context
Metal Beverage Production Facilities	23	Global Footprint
Countries of Operation	9	Geographic Reach
Total Employees	More than 6,000	Supporting Sales and Operations
2024 Sales	$4.9 billion	Prior Year Revenue Scale
2025 Expected Shipments Growth	2% to 3%	Volume Channel Demand

The customer engagement through these channels is supported by technical service and a graphics portal, which are part of the regional service offerings for customers in the Americas and Europe. These digital tools help streamline the process once the initial sales relationship is established.

• Serve categories including beer, carbonated soft drinks, energy drinks, hard seltzers, juices, pre-mixed cocktails, teas, sparkling waters and wine.
• Key regions served are Europe and the Americas.
• Investor communications are centralized on the IR website, with key documents like the Q3 2025 Earnings Release available there.

Ardagh Metal Packaging S.A. (AMBP) - Canvas Business Model: Customer Segments

You're looking at the core customer base for Ardagh Metal Packaging S.A. (AMBP) as of late 2025, based on their recent performance metrics. The business model clearly leans on large-scale beverage producers across the Americas and Europe, with specific categories driving the most growth.

Large, multinational Carbonated Soft Drink (CSD) companies represented a segment with solid, though moderating, demand. In North America during the second quarter of 2025, growth in carbonated soft drinks was noted, though by the third quarter, management indicated this was 'a bit less in the second half' compared to the strong first half.

Global and regional beer brewers showed mixed results. While there was 'broad-based performance in beer' in the first quarter of 2025, the beer market weakened in the second half of the year. Specifically, in Brazil, which is a key market, volumes saw a sharp decline of 17% in the third quarter of 2025 as the industry faced a weak consumer backdrop.

High-growth beverage brand owners, particularly in non-alcoholic segments, were a major driver of volume. The energy drinks category in North America delivered double-digit percentage growth in the second quarter of 2025. Sparkling waters also showed strong growth in that same quarter. The cocktail segment is noted for its innovation, which serves as a tailwind for can adoption.

Brand owners prioritizing sustainable and circular packaging are influencing substrate choice across the board. The beverage can continues to take share from glass and plastic in both Europe and North America, driven by sustainability concerns from major customers and consumers. This trend supports the overall global volume growth, which was up over 3% year-to-date as of the third quarter of 2025.

Here's a quick look at how the geographic segments, which house these customer types, performed in the third quarter of 2025:

Metric	Europe (Q3 2025)	Americas (Q3 2025)	Global (Q3 2025)
Revenue (in $ millions)	$625 million	$803 million	$1,428 million
Shipments Change vs. Prior Year	+2% growth	-3% decline	-1% decline
Adjusted EBITDA (in $ millions)	$82 million	Not specified	$208 million
North America Shipments Change vs. Prior Year	N/A	+1% growth	N/A

The company's operational footprint directly supports these segments:

• Total production facilities: 23 across 9 countries.
• Total employees: Approximately 6,300.
• Full-year 2025 shipments growth forecast: Around 3%.

Ardagh Metal Packaging S.A. (AMBP) - Canvas Business Model: Cost Structure

You're looking at the cost side of Ardagh Metal Packaging S.A. (AMBP), and honestly, it's dominated by the physical reality of making billions of cans. The structure is capital-intensive, which means you have big, unavoidable fixed costs alongside the costs that swing with every can you ship.

High variable costs dominated by aluminum and raw material procurement

The single biggest driver of variable cost is the raw material itself-aluminum sheet. While I don't have the exact percentage of revenue that goes to aluminum procurement for 2025, you know that aluminum pricing volatility is a key risk factor that directly hits your bottom line. The company has to manage this through pass-through mechanisms, but timing mismatches can still cause short-term pressure on margins, as seen in past quarters with input cost recovery timing.

Significant fixed costs from operating 23 manufacturing facilities

Running a global footprint means substantial fixed overhead. Ardagh Metal Packaging S.A. operates 23 metal beverage can production facilities across nine countries. That scale locks in costs related to facility maintenance, property taxes, and the base operational structure, regardless of minor fluctuations in order volume.

Capital expenditure (capex) of approximately $200 million expected for 2025

The investment cycle, while perhaps easing from peak years, still requires significant outlay to maintain and modernize the asset base. For fiscal year 2025, Ardagh Metal Packaging S.A. expects total capital expenditure (capex) to be approximately $200 million. That's a major cash commitment before you even look at debt service.

Labor and energy costs for a global, industrial operation

As a global, industrial operation, labor and energy are non-trivial fixed and semi-variable costs. Ardagh Metal Packaging S.A. employs more than 6,000 people across its network. Furthermore, the CEO specifically called out the 'energy cost piece' as a component of the fundamental cost structure, meaning energy prices are a constant focus for cost control and negotiation.

Here's a quick look at some of the key financial metrics that frame these costs:

Metric	Value (as of late 2025 data)	Context
Total Expected Capex for 2025	$200 million	Total investment planned for the year
Number of Manufacturing Facilities	23	Global operational footprint
Net Debt to Adjusted EBITDA Ratio	5.2x	As of September 30, 2025
Employees Globally	More than 6,000	Labor base for operations

Interest expense on substantial net debt, which is at 5.2x Adjusted EBITDA

This is where the capital structure directly impacts the P&L. Even with operational improvements, the cost of servicing the debt load is significant. As of the third quarter of 2025, the Net debt to Adjusted EBITDA ratio stood at 5.2x. That leverage means interest expense consumes a substantial portion of operating profit, which is why debt reduction remains a management priority.

You need to watch how that 5.2x leverage moves, as it dictates the size of the interest payment you'll face, which is a fixed cost that doesn't care about your can shipments.

Ardagh Metal Packaging S.A. (AMBP) - Canvas Business Model: Revenue Streams

Ardagh Metal Packaging S.A. (AMBP) generates revenue primarily through the sales of sustainable, infinitely recyclable metal beverage cans and ends to brand owners globally. This is the fundamental value exchange in the business model.

Revenue growth is a function of two main levers: volume/mix changes and the ability to implement input cost pass-through mechanisms with customers. The performance across the geographic segments directly impacts the top line. For instance, the second quarter of 2025 showed strong regional contributions.

Segment	Q2 2025 Revenue (Reported)	Q2 2025 Revenue Growth (Reported)
Americas	$840 million	21%
Europe	$615 million	9%

The total reported revenue for the second quarter ended June 30, 2025, was $1,455 million. By the third quarter ended September 30, 2025, revenue increased to $1,428 million, reflecting a 9% increase year-over-year.

The company's financial outlook reflects this momentum. Following strong Q2 and Q3 performance, Ardagh Metal Packaging S.A. raised its full-year Adjusted EBITDA guidance to $720-$735 million for 2025. This guidance upgrade was based on improved underlying performance and favorable currency movements observed through the third quarter.

Shareholder returns are also a component of the financial structure, supported by consistent cash generation:

• Quarterly ordinary dividend payments were approved at $0.10 per ordinary share in October 2025, payable in November 2025.
• The Q2 2025 Americas Adjusted EBITDA climbed 34% to $133 million.
• The TTM revenue as of late 2025 is reported around $5.35 Billion USD.
• Global beverage can shipments growth for the full year 2025 is still expected to be between 3% and 4%.