Ardagh 3Q17 - good organic performance despite unfavorable US product mix
Ardagh, the Irish packager, has released satisfactory 3Q17 results. Sales were down 1% to €2.0bn due to FX headwinds but up 2% organically, and EBITDA was stable at €377m, or an unchanged margin of 18.9%. Once again, this quarter showed the dynamism of metal packaging (63% of sales), which consumers tend to prefer to glass (37% of sales) in certain end-markets such as drinks. The former posted 3% organic growth with both good volumes and prices in Europe and the US.
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