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UPCOMING EVENTS
 
Ardagh Group 26Q1 Results Call
Ardagh AMP 25Q3 Results Call
 

SHORT Idea - video

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sarria live model
sarria analysis
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- for speed listening, go to the settings wheel on the bottom right of the video and choose playback speed - after one minute video becomes high-resolution.

 

Intro, Cap and Legal Structure - 5 Mar 24

Description of Divisions - 5 Mar 24

Cash Flow and Valuation - 5 Mar 24

Value Leakage - 5 Mar 24

Investment Discussion - 5 Mar 24

 
SARRIA News -INTU
Aengus McMahon
Ardagh Group - comment
Aengus McMahon

The excess proceeds tender from Ardagh will see the SSNs and 2nd Liens slightly firmer. The purchase was expected, so

Aengus McMahon
Aengus McMahon
Ardagh Group
Aengus McMahon

The attached article is a good summary of the challenge facing Ardagh Glass. We have said for some time that part of the drops are

Aengus McMahon
Aengus McMahon
Ardagh Group - comment
Aengus McMahon

The management changes are supportive of the bonds. The structure reflects a break with the old regime, indicating that Ardagh is

Aengus McMahon
Ardagh Group - comment
Aengus McMahon
Ardagh Group - comment
Aengus McMahon

Operational results were broadly in line with company guidance, so the bonds should be slightly higher. Given its liquidity of

Aengus McMahon
Ardagh Group - Looking Forward - Model update
Aengus McMahon
Ardagh Group - Looking Forward - Model update
Aengus McMahon

Please find our updated analysis here.

The recapitalisation closed in Q4, and Ardagh Group can now start to look to the future. The large restructuring costs are behind it, but

Aengus McMahon