Ardagh posts $94 million loss in ’18

Ardagh Group, the parent company of Dunkirk’s glass container plant and a plant in Winchester, this week reported a net loss of $94 million in fiscal 2018.

The loss was blamed largely on the weak performance of the glass and metal container company’s North American glass unit.

The company’s earnings before interest, tax, depreciation and amortization (EBITDA) dropped by $30 million.

This led to a loss per share of $0.40 for the year, with adjusted earnings per share of $1.69, down from $1.84 a year earlier.

Ardagh chairman Paul Coulson said many parts of the international operation continued to show strength.

"Glass packaging in Europe delivered another strong performance in 2018, with broad-based volume growth,” Coulson said in a prepared statement.

"In Glass North America, our ongoing initiatives to improve financial performance are proceeding as planned,” he said.

The company annou­nced last month that it would permanently close its glass container plant in Lincoln, Illinois, which had employed 150.

Employment at the Dunkirk plant has been about 400 in recent years.

Ardagh has more than 100 facilities in 22 countries across 5 continents, and employs approximately 23,000.

Revenue for the North American Glass unit decreased one percent to $391 million in the fourth quarter, compared with the same period last year.

The company said that was primarily due to lower volumes in the beer end-market.

Meanwhile it was announced that the company has been awarded a gold-level certification by EcoVardis for its sustainability performance.

The company was awarded the highest level of recognition for the fourth consecutive year. 

Assessments conducted by EcoVadis help companies understand the sustainability performance of their suppliers.