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Amcor plc Ordinary Shares (NYSE: AMCR, ASX: AMC) is a global leader in the development and production of responsible packaging solutions. With a history that dates back to the 1860s, Amcor has grown to become the world’s largest packaging company, serving diverse industries such as food, beverage, pharmaceutical, medical, home, and personal-care products. Operating in over 40 countries, Amcor employs approximately 41,000 people and generated $14.7 billion in annual sales for the fiscal year 2023.
Amcor specializes in both flexible and rigid packaging, providing innovative solutions that ensure products are fresh, clean, safe, and secure. The company's portfolio includes life-saving pharmaceuticals, medical equipment, food staples, and beverages, with a significant focus on sustainability and developing packaging that is increasingly lighter weight, recyclable, and reusable. Their breakthrough products like AmSky™ and AmPrima™, recognized by Walmart’s 'Circular Connector' platform, showcase Amcor’s commitment to a circular economy and sustainability.
Recent achievements include a Memorandum of Understanding with SK Geo Centric to source advanced recycled material for the Asia Pacific region and the launch of an expanded thermoforming capacity in North America to support healthcare customer growth. Amcor also recently opened its European Innovation Center in Belgium, a hub dedicated to pioneering new material technologies for sustainable packaging.
Financially, Amcor has demonstrated robust performance with a consistent growth trajectory. As of the latest updates, the company reported net sales of $3.443 billion for the three months ended September 30, 2023, and reaffirmed its adjusted EPS guidance for fiscal 2024 at 67 to 71 cents per share. Amcor continues to deliver strong cash returns to shareholders, including increased dividends and share repurchases.
Amcor's latest initiatives include the Bottles of the Year program, highlighting innovative and responsible bottle designs that align with consumer trends and preferences. With a strong focus on research and development, strategic partnerships, and sustainability, Amcor is well-positioned to lead the packaging industry in the next wave of innovation and environmental responsibility.
Amcor (NYSE: AMCR, ASX: AMC), a global leader in responsible packaging solutions, has announced that its long-term carbon reduction targets have been approved by the Science Based Targets initiative (SBTi). The company aims to achieve net-zero greenhouse gas emissions across its value chain by 2050. This goal includes significant absolute reductions in scope 1, 2, and 3 emissions, using fiscal year 2022 as a base year.
The approval complements Amcor's near-term emission reduction targets, confirmed in early 2024, which align with a 1.5-degree Celsius trajectory. These near-term targets aim for a 54.6% reduction in absolute Scope 1 and 2 emissions and a 32.5% reduction in Scope 3 emissions by fiscal year 2033.
Amcor's Chief Sustainability Officer, David Clark, emphasized that these targets are integral to the company's sustainability strategy and reflect their commitment to delivering packaging that minimizes environmental impact while supporting customers' decarbonization ambitions.
Amcor plc (NYSE: AMCR; ASX: AMC) has announced changes to its Board of Directors. Graham Chipchase has been nominated as a non-executive director for election at the Company's Annual Meeting of Shareholders on November 6, 2024. Mr. Chipchase is currently the CEO of Brambles and previously served as CEO of Rexam plc, a major consumer packaging company. He brings extensive experience in finance leadership roles and has served on the board of AstraZeneca plc.
The Board believes Mr. Chipchase's leadership experience in global packaging and his strategic development background will complement the existing skill set. Additionally, Karen Guerra will retire from the Board of Directors at the Annual Meeting after years of dedicated service. The Board has expressed gratitude for her expertise and significant contributions during her tenure.
Amcor (NYSE: AMCR; ASX: AMC), a global leader in responsible packaging solutions, has announced key executive appointments to accelerate organic growth. Fred Stephan, previously President of Amcor Flexibles North America, has been named Chief Operating Officer, a newly created role. He will focus on leveraging growth opportunities across global flexible packaging businesses.
David Clark, formerly Vice President of Sustainability, has been appointed Chief Sustainability Officer. This new role, reporting directly to the CEO, will oversee the implementation of Amcor's sustainability strategies and policies company-wide.
These appointments aim to enhance collaboration, drive faster growth in the flexibles business, and increase focus on sustainability initiatives. CEO Peter Konieczny emphasized the company's strong position and significant growth potential, highlighting the opportunity to leverage Amcor's global footprint and scale more effectively.
Amcor (NYSE: AMCR; ASX: AMC), a global leader in responsible packaging solutions, has appointed Peter Konieczny as Chief Executive Officer. Konieczny, who has served as Interim CEO since April 2024, will also be nominated as a director for election at the Company's Annual Meeting of Shareholders in November 2024. Amcor Chairman Graeme Liebelt expressed confidence in Konieczny's leadership, citing his exceptional performance in various roles at Amcor, including as Interim CEO.
Konieczny stated his gratitude for the opportunity and highlighted Amcor's strong fiscal 2024 performance, expressing confidence in continued momentum for fiscal 2025 and beyond. He emphasized Amcor's commitment to safety, customer success, and disciplined capital allocation, positioning the company for industry-leading value creation.
Amcor (NYSE: AMCR, ASX:AMC), a global leader in responsible packaging solutions, has published its Decarbonization Roadmap to reduce greenhouse gas emissions. The roadmap, aligned with the Science-Based Targets initiative (SBTi), focuses on five key areas: product redesign, increased use of recycled content, transition to renewable electricity, supply chain collaboration, and operational efficiency enhancements.
In fiscal year 2023, Amcor achieved significant progress, with 22 sites reaching 100% renewable electricity use and a 10.2% reduction in absolute GHG emissions compared to FY22. The company also increased its renewable electricity use by 244% year-over-year. This roadmap demonstrates Amcor's ongoing commitment to sustainability and climate mitigation efforts.
Amcor reported strong Q4 FY2024 results, with volumes returning to growth and earnings exceeding expectations. Key highlights include:
- Q4 net sales of $3,535 million, with volumes up 1%
- Q4 adjusted EBIT of $454 million, up 4% on comparable constant currency basis
- Q4 adjusted EPS of 21.1 cents, up 9% on comparable constant currency basis
- Full year FY2024 net sales of $13,640 million
- Full year adjusted EPS of 70.2 cents
- Full year adjusted free cash flow of $952 million, up 12% year-over-year
For FY2025, Amcor expects adjusted EPS of 72-76 cents and adjusted free cash flow of $900-1,000 million. The company increased its annual dividend to 50.0 cents per share and repurchased $30 million in shares during FY2024.
Amcor plc (NYSE: AMCR; ASX: AMC) has announced it will release its full year results for the twelve months ended 30 June 2024 after the US market closes on Thursday 15 August 2024. A conference call and webcast to discuss the results is scheduled for 5.30pm US Eastern Daylight Time on the same day, corresponding to 7.30am Australian Eastern Standard Time on Friday 16 August 2024.
The company has provided toll-free and local dial-in numbers for participants from various countries, including the USA, Australia, United Kingdom, Hong Kong, and Singapore. Access to the webcast and supporting materials will be available via the Investors section of Amcor's website. A webcast replay will be made available after the call concludes.
Amcor has inaugurated its European Innovation Center (AICE) in Ghent, Belgium, enhancing its global network of packaging innovation hubs.
This new center aims to pioneer sustainable and high-performance packaging solutions, integrating advanced material science and innovative designs.
The AICE offers end-to-end services from concept to commercialization, utilizing the Catalyst™ approach, a flexible and collaborative methodology.
Key facilities include the Material Science Center, Customer Engagement Center, E-Commerce Lab, and the forthcoming Packaging and Recycling Test Center.
The center will focus on developing recyclable, compostable, and reusable packaging, aligned with Amcor's sustainability goals for 2025.
Amcor, a global leader in responsible packaging solutions, announced the launch of its Bottles of the Year program, recognizing innovative and responsible packaging designs in various segments. The program aims to inspire and empower consumers, manufacturers, brands, and enthusiasts with elegant, thoughtful, and responsible packaging designs.
Amcor reported strong financial results for the third quarter, with adjusted EPS growth and improved earnings leverage. The company raised its fiscal 2024 Adjusted EPS guidance and reaffirmed its Adjusted Free Cash Flow outlook. Despite lower volumes in certain regions, Amcor remains confident in its long-term growth strategy and commitment to returning cash to shareholders.
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