Ardagh Glass’s shipments in the third quarter were 3% lower than the third quarter of 2020, with broadly similar reductions in Europe and North America.
The world’s second largest container glass manufacturer reported revenues were unchanged on a reported basis and fell 1% at constant currency compared to the same period last year.
In its latest financial note adjusted EBITDA of $162 million was 11% lower than the prior year constant exchange rates, reflecting lower shipments and increased costs in both regions.
The third quarter of 2020 coincided with the re-opening of the hospitality sector after lockdowns in many of its markets and shipments therefore increased by 6%. Shipments for the third quarter of 2021 were 3% above 2019 levels.
Revenue for the quarter in Glass Europe fell 6% compared to the same period last year, of which almost half was attributable to its engineering equipment business.
Adjusted EBITDA for the quarter of $104 million was 10% lower than the same period last year due to the impact of higher energy and other costs, partly offset by a strong operating performance and a contribution from its growth investment programme.
In Glass North America, revenue of $444 million increased by 3% compared with the same period last year.
Shipments were 4% lower than the prior year, with growth in spirits more than offset by lower shipments in other categories as out-of-home dining and hospitality resumed.
Adjusted EBITDA of $58 million was a reduction of 13% on the same period in 2020 and reflected lower shipments and increased costs, including out-of-pattern freight costs.
The third quarter of 2021 also saw the group progress its $100 million glass investment programme .
Glass Europe has also been successfully pursuing targeted opportunities aimed at premium and faster-growing segments of the market, while efficiency and operational enhancement remains a priority in Glass North America.