On Sept. 21, 2020, Ardagh announced its commitment to the Science-Based Targets initiative (SBTi), aiming to set measurable targets for reducing greenhouse gas emissions in line with the Paris Agreement. The initiative will drive Ardagh's sustainability efforts towards achieving carbon neutrality by 2050. Chief Sustainability Officer John Sadlier emphasized the company's dedication to sustainability, stating that the SBTi commitment is a pivotal step in their pursuit of a sustainable future. Ardagh operates 56 facilities across 12 countries, generating approximately $7 billion in global sales.
Ardagh Group S.A. (NYSE: ARD) reported a 6% decline in revenue to $1,606 million for Q2 2020 compared to the previous year, with adjusted EBITDA decreasing 11% to $271 million. Metal Beverage Packaging grew 3%, but Glass Packaging saw a 7% decline. The company declared a dividend of $0.15 per share, slightly up from $0.14. Total liquidity remained strong at $1.6 billion, supported by favorable market conditions for capital structure enhancement. The COVID-19 pandemic negatively impacted demand, especially in Glass Packaging, leading to decreased profits and increased costs.