DAVY VIEW

2019 was a year of good progress for Ardagh. A solid operational performance was accompanied by the Trivium transaction, which resulted in a de-risking of the group’s debt profile. The group starts 2020 well placed. Of particular note is the high level of revenue visibility for its metal packaging operations and its glass division in Europe. This has prompted Ardagh to announce a planned investment of circa $250m in its existing facilities. This is above maintenance capital expenditure and will support the group’s growth potential in 2020 and beyond.