{"id":492,"date":"2024-05-01T10:29:51","date_gmt":"2024-05-01T03:29:51","guid":{"rendered":"https:\/\/thaipropertynews.com\/feeds\/?p=492"},"modified":"2024-05-01T10:29:51","modified_gmt":"2024-05-01T03:29:51","slug":"amcor-reports-third-quarter-result-and-raises-fiscal-2024-adjusted-eps-guidance","status":"publish","type":"post","link":"https:\/\/thaipropertynews.com\/feeds\/?p=492","title":{"rendered":"Amcor reports third quarter result and raises fiscal 2024 Adjusted EPS guidance"},"content":{"rendered":"

March 2024<\/span> quarter:
GAAP diluted EPS of 12.9 cps; GAAP net income of $187 million<\/span>
Adjusted EBIT of $397 million<\/span> up 3% on a comparable constant currency basis
Adjusted EPS of 17.8 cps, up 1% on a comparable constant currency basis<\/p>\n

YTD Highlights – Nine Months Ended March 31, 2024<\/span><\/p>\n

Net sales of $10,105 million<\/span>; GAAP Net income of $473 million<\/span>; GAAP diluted earnings per share (EPS) of 32.7\u00a0cps; Adjusted EPS of 49.1\u00a0cps and Adjusted EBIT of $1,106 million<\/span>; Adjusted Free Cash Flow of $115 million<\/span>, approximately $100 million<\/span> ahead of prior year; Strong cash returns to shareholders: Quarterly dividend increased to 12.5 cents<\/span> per share and $30 million<\/span> of shares repurchased; and Fiscal 2024 outlook for Adjusted EPS raised to 68.5-71 cents<\/span> per share.\u00a0 Adjusted Free Cash Flow outlook of $850<\/span>-950 million reaffirmed. <\/p>\n

ZURICH<\/span>, May 1, 2024 \/PRNewswire\/ —\u00a0<\/span><\/p>\n

\n

Volume and earnings trajectory improved; Raising fiscal 2024 earnings outlook<\/span><\/p>\n

Amcor\u00a0Interim CEO Peter\u00a0Konieczny\u00a0said: “Amcor\u00a0delivered improved financial results above our guidance for the third quarter driven by\u00a0outperformance\u00a0in the underlying business and our third consecutive quarter of improved earnings leverage.\u00a0 As a result, we returned to earnings growth one quarter earlier than expected, raised our adjusted EPS guidance for fiscal 2024 and reaffirmed guidance for adjusted free cash flow.
<\/span><\/p>\n

While overall March quarter volumes were lower than last year, our volume performance was better than anticipated and substantially improved on the previous quarter with growth delivered across several categories and geographies.\u00a0 A combination of sequential volume improvement, the realization of benefits from structural cost initiatives and maintaining our focus on flexing the cost base resulted in year over year growth in adjusted\u00a0EBIT\u00a0for the quarter.\u00a0 We expect our momentum will continue to build, including delivering mid single digit adjusted EPS growth in our final quarter of fiscal 2024.
<\/span><\/p>\n

We remain confident in our capital allocation framework and strategy for long term growth.\u00a0 We believe our underlying business and market positions are strong and we will continue to invest for organic growth, pursue acquisitions or repurchase shares and return cash to shareholders through a compelling and growing dividend.”
<\/span><\/p>\n<\/div>\n

\u00a0<\/p>\n

\n

Key Financials<\/span><\/p>\n

<\/p>\n

Nine Months Ended March 31, <\/span><\/p>\n

GAAP results<\/span><\/p>\n

<\/p>\n

2023 $ million<\/span><\/p>\n

<\/p>\n

2024 $ million<\/span><\/p>\n

Net sales<\/span><\/p>\n

<\/p>\n

11,021<\/span><\/p>\n

<\/p>\n

10,105<\/span><\/p>\n

Net income attributable to Amcor plc<\/span><\/p>\n

<\/p>\n

868<\/span><\/p>\n

<\/p>\n

473<\/span><\/p>\n

EPS (diluted US cents)<\/span><\/p>\n

<\/p>\n

58.1<\/span><\/p>\n

<\/p>\n

32.7<\/span><\/p>\n

<\/p>\n

Comparable
constant
currency \u2206%<\/span><\/p>\n

Nine Months Ended March 31, <\/span><\/p>\n

<\/p>\n

Reported \u2206% <\/span><\/p>\n

<\/p>\n

Adjusted non-GAAP results(1)<\/span><\/span><\/p>\n

<\/p>\n

2023 $ million<\/span><\/p>\n

<\/p>\n

2024 $ million<\/span><\/p>\n

Net sales<\/span><\/p>\n

<\/p>\n

11,021<\/span><\/p>\n

<\/p>\n

10,105<\/span><\/p>\n

<\/p>\n

(8)<\/span><\/p>\n

<\/p>\n

(7)<\/span><\/p>\n

EBITDA<\/span><\/p>\n

<\/p>\n

1,478<\/span><\/p>\n

<\/p>\n

1,412<\/span><\/p>\n

<\/p>\n

(4)<\/span><\/p>\n

<\/p>\n

(3)<\/span><\/p>\n

EBIT<\/span><\/p>\n

<\/p>\n

1,173<\/span><\/p>\n

<\/p>\n

1,106<\/span><\/p>\n

<\/p>\n

(6)<\/span><\/p>\n

<\/p>\n

(3)<\/span><\/p>\n

Net income<\/span><\/p>\n

<\/p>\n

808<\/span><\/p>\n

<\/p>\n

710<\/span><\/p>\n

<\/p>\n

(12)<\/span><\/p>\n

<\/p>\n

(9)<\/span><\/p>\n

EPS (diluted US cents)<\/span><\/p>\n

<\/p>\n

54.1<\/span><\/p>\n

<\/p>\n

49.1<\/span><\/p>\n

<\/p>\n

(9)<\/span><\/p>\n

<\/p>\n

(7)<\/span><\/p>\n

Free Cash Flow<\/span><\/p>\n

<\/p>\n

14<\/span><\/p>\n

<\/p>\n

115<\/span><\/p>\n

<\/p>\n

(1) Adjusted non-GAAP results exclude items which are not considered representative of ongoing operations. Comparable constant currency \u2206%
excludes the impact of movements in foreign exchange rates and items affecting comparability.\u00a0 Further details related to non-GAAP measures and\u00a0
reconciliations\u00a0to GAAP measures can be found under “Presentation of non-GAAP information” in this release.\u00a0
<\/span><\/p>\n

<\/p>\n

Note:\u00a0 All amounts referenced throughout this document are in US dollars unless otherwise indicated and numbers may not add up precisely to the
totals provided due to rounding.
<\/span><\/p>\n<\/div>\n

Shareholder returns<\/p>\n

Amcor generates significant annual cash flow and is committed to an investment grade credit rating.\u00a0 We believe that the Company’s strong annual cash flow and balance sheet provides capacity to reinvest in the business for organic growth, pursue acquisitions or share repurchases and return cash to shareholders through a compelling and growing dividend.<\/p>\n

During the nine months ended March 31, 2024<\/span>, the Company returned approximately $570 million<\/span> to shareholders through cash dividends and share repurchases.<\/p>\n

Dividend<\/p>\n

The Amcor Board of Directors today declared a quarterly cash dividend of 12.5 cents<\/span> per share (compared with 12.25 cents<\/span> per share in the same quarter last year). The dividend will be paid in US dollars to holders of Amcor’s ordinary shares trading on the NYSE. Holders of CDIs trading on the ASX will receive an unfranked dividend of 19.32 Australian cents per share, which reflects the quarterly dividend of 12.5 cents<\/span> per share converted at an AUD:USD average exchange rate of\u00a00.6469 over the five trading days ended April 26, 2024<\/span>.<\/p>\n

The ex-dividend date will be May 21, 2024<\/span>, the record date will be May 22, 2024<\/span> and the payment date will be June 11<\/span>, 2024.\u00a0<\/p>\n

Share repurchases<\/p>\n

Amcor repurchased approximately 3 million shares during the nine months ended March 31, 2024<\/span> for a total cost of approximately $30 million<\/span>.<\/p>\n

Financial results – Nine Months Ended March 31, 2024<\/span><\/p>\n

Segment information<\/p>\n

\n

Nine Months Ended March 31, 2023<\/span><\/p>\n

Nine Months Ended March 31, 2024<\/span><\/p>\n

Adjusted non-GAAP
results<\/span><\/p>\n

Net sales <\/span><\/p>\n

$ million<\/span><\/p>\n

EBIT<\/span><\/p>\n

$ million<\/span><\/p>\n

EBIT \/
Sales %<\/span><\/p>\n

EBIT \/ Average
funds
employed %(1)<\/span><\/span><\/p>\n

Net sales
$ million<\/span><\/p>\n

EBIT<\/span><\/p>\n

$ million<\/span><\/p>\n

EBIT \/
Sales %<\/span><\/p>\n

EBIT \/ Average
funds
employed %(1)<\/span><\/span><\/p>\n

Flexibles<\/span><\/p>\n

8,378<\/span><\/p>\n

1,043<\/span><\/p>\n

12.4\u00a0%<\/span><\/p>\n

<\/p>\n

7,646<\/span><\/p>\n

992<\/span><\/p>\n

13.0\u00a0%<\/span><\/p>\n

<\/p>\n

Rigid Packaging<\/span><\/p>\n

2,643<\/span><\/p>\n

192<\/span><\/p>\n

7.3\u00a0%<\/span><\/p>\n

<\/p>\n

2,459<\/span><\/p>\n

184<\/span><\/p>\n

7.5\u00a0%<\/span><\/p>\n

<\/p>\n

Other(2)<\/span><\/p>\n

\u2014<\/span><\/p>\n

(62)<\/span><\/p>\n

\u2014<\/span><\/p>\n

(70)<\/span><\/p>\n

Total Amcor<\/span><\/p>\n

11,021<\/span><\/p>\n

1,173<\/span><\/p>\n

10.6\u00a0%<\/span><\/p>\n

16.2\u00a0%<\/span><\/p>\n

10,105<\/span><\/p>\n

1,106<\/span><\/p>\n

10.9\u00a0%<\/span><\/p>\n

14.7\u00a0%<\/span><\/p>\n

<\/p>\n

(1) Return on average funds employed includes shareholders’ equity and net debt, calculated using a four quarter average and last twelve months
adjusted\u00a0EBIT.
<\/span><\/p>\n

(2) Represents corporate expenses.
<\/span><\/p>\n<\/div>\n

March 2024<\/span> YTD:<\/p>\n

Net sales of $10,105 million<\/span> were 8% lower than last year on a reported basis, including a favorable impact of 2% related to movements in foreign exchange rates, an unfavorable impact of 1% related to items affecting comparability and an unfavorable impact of 1% related to the pass through of lower raw material costs of approximately $145 million<\/span>.\u00a0\u00a0<\/p>\n

Net sales on a comparable constant currency basis were 7% lower than last year, mainly reflecting approximately 7% lower volumes.\u00a0<\/p>\n

Adjusted EBIT of $1,106 million<\/span> was 3% lower than last year on a comparable constant currency basis, reflecting lower volumes partly offset by strong cost performance.\u00a0<\/p>\n

March 2024<\/span> quarter:<\/p>\n

Net sales of $3,411 million<\/span> were 7% lower than last year on a reported basis, including a favorable impact of 1% related to movements in foreign exchange rates and an unfavorable impact of 2% related to the pass through of lower raw material costs of approximately $60 million<\/span>.\u00a0\u00a0<\/p>\n

Net sales on a comparable constant currency basis were 6% lower than last year reflecting sales from acquired businesses of approximately 1%, an unfavorable price\/mix impact of approximately 3% and approximately 4% lower volumes, largely driven by expected weakness in healthcare categories and in the North America<\/span> beverage business.\u00a0 Across the balance of the business, overall net volumes were in line with the prior year.<\/p>\n

Adjusted EBIT of $397 million<\/span> was 3% higher than last year on a comparable constant currency basis.\u00a0 Unfavorable impacts from price\/mix and lower volumes were more than offset by strong cost performance and benefits from restructuring initiatives, which significantly improved operating leverage.<\/p>\n

\n

Flexibles segment<\/span><\/p>\n

<\/p>\n

Nine Months Ended March 31, <\/span><\/p>\n

<\/p>\n

Reported
\u2206%<\/span><\/p>\n

<\/p>\n

Comparable
constant
currency \u2206%<\/span><\/p>\n

2023 $ million<\/span><\/p>\n

2024 $ million<\/span><\/p>\n

Net sales<\/span><\/p>\n

<\/p>\n

8,378<\/span><\/p>\n

7,646<\/span><\/p>\n

<\/p>\n

(9)<\/span><\/p>\n

<\/p>\n

(7)<\/span><\/p>\n

Adjusted EBIT<\/span><\/p>\n

<\/p>\n

1,043<\/span><\/p>\n

992<\/span><\/p>\n

<\/p>\n

(5)<\/span><\/p>\n

<\/p>\n

(2)<\/span><\/p>\n

Adjusted EBIT \/ Sales %<\/span><\/p>\n

<\/p>\n

12.4\u00a0%<\/span><\/p>\n

13.0\u00a0%<\/span><\/p>\n<\/div>\n

March 2024<\/span> YTD:<\/p>\n

Net sales of $7,646 million<\/span> were 9% lower than last year on a reported basis, including a favorable impact of 2% related to movements in foreign exchange rates, an unfavorable impact of 2% related to items affecting comparability and an unfavorable impact of 2% related to the pass through of lower raw material costs of approximately $140 million<\/span>.\u00a0 On a comparable constant currency basis, net sales were 7% lower, mainly reflecting lower volumes of approximately 7%.\u00a0 Volume weakness largely reflects lower market and customer demand and destocking particularly through the first half of the year.\u00a0 The trajectory of volumes improved significantly in the March quarter.\u00a0<\/p>\n

In North America<\/span>, net sales declined at high single digit rates driven by lower volumes. Volumes were higher in the condiments, snacks and cheese categories and this was more than offset by lower volumes in categories including healthcare, meat and liquid beverage.<\/p>\n

In Europe<\/span>, net sales declined at low double digit rates driven by lower volumes. Volumes were lower mainly in the healthcare, snacks, coffee and yoghurt end markets.<\/p>\n

Across the Asian region, volumes were modestly higher than the prior year with volume growth in Thailand<\/span>, India<\/span> and China<\/span>, partly offset by lower volumes in the South East Asian healthcare business.\u00a0 In Latin America, net sales declined at mid single digit rates, driven by lower volumes mainly in Chile<\/span> and Mexico<\/span>, partly offset by growth in Brazil<\/span>.<\/p>\n

Adjusted EBIT of $992 million<\/span> was 2% lower than last year on a comparable constant currency basis, reflecting lower volumes partly offset by benefits from restructuring initiatives and ongoing actions taken to lower costs and increase productivity. \u00a0Adjusted EBIT margin of 13.0% was higher than the prior year notwithstanding weaker volumes and a 30 basis point unfavorable impact compared to the prior year related to the sale of the Russian business in December 2022<\/span>.<\/p>\n

March 2024<\/span> quarter:<\/p>\n

Net sales of $2,598 million<\/span> were 7% lower than last year on a reported basis, including a favorable impact of 1% related to movements in foreign exchange rates and an unfavorable impact of 2% related to the pass through of lower raw material costs of approximately $50 million<\/span>.\u00a0 On a comparable constant currency basis, net sales were 6% lower than last year, reflecting approximately 2% lower volumes and an unfavorable price\/mix impact of approximately 4%, primarily due to lower volumes in high value healthcare categories.\u00a0\u00a0<\/p>\n

As expected, destocking continued in healthcare categories and volumes remained soft, unfavorably impacting overall segment volumes for the quarter by approximately 3%.\u00a0 Across the balance of the portfolio, overall net volumes were approximately 1% higher than last year with growth in several end markets including meat, petcare, cheese and unconverted film and foil and in a number of geographies including China<\/span>, India<\/span>, Brazil<\/span> and Thailand.\u00a0<\/p>\n

Adjusted EBIT of $358 million<\/span> was 5% higher than last year on a comparable constant currency basis.\u00a0 The impact of lower volumes and unfavorable price\/mix was more than offset by strong cost performance and benefits from restructuring initiatives, which resulted in significantly improved earnings leverage.\u00a0 Adjusted EBIT margin of 13.8% was 170 basis points higher than the March quarter last year.<\/p>\n

\n

Rigid Packaging segment<\/span><\/p>\n

<\/p>\n

Nine Months Ended March 31, <\/span><\/p>\n

<\/p>\n

Reported
\u2206%<\/span><\/p>\n

<\/p>\n

Comparable
constant
currency \u2206%<\/span><\/p>\n

2023 $ million<\/span><\/p>\n

2024 $ million<\/span><\/p>\n

Net sales<\/span><\/p>\n

<\/p>\n

2,643<\/span><\/p>\n

2,459<\/span><\/p>\n

<\/p>\n

(7)<\/span><\/p>\n

<\/p>\n

(8)<\/span><\/p>\n

Adjusted EBIT<\/span><\/p>\n

<\/p>\n

192<\/span><\/p>\n

184<\/span><\/p>\n

<\/p>\n

(4)<\/span><\/p>\n

<\/p>\n

(6)<\/span><\/p>\n

Adjusted EBIT \/ Sales %<\/span><\/p>\n

<\/p>\n

7.3\u00a0%<\/span><\/p>\n

7.5\u00a0%<\/span><\/p>\n<\/div>\n

March 2024<\/span> YTD:<\/p>\n

Net sales of $2,459 million<\/span> were 7% lower than last year on a reported basis, including a favorable impact of 1% related to movements in foreign exchange rates.\u00a0 On a comparable constant currency basis, net sales were 8% lower than last year, reflecting price\/mix benefits of approximately 1% and volumes were approximately 9% lower than last year.<\/p>\n

In North America<\/span>, overall beverage volumes were\u00a013% lower than last year, including a 15% reduction in hot fill beverage container volumes.\u00a0 This reflects a combination of lower consumer and customer demand, as well as significant destocking particularly through the first half of the year.\u00a0 Specialty container volumes were lower than last year.<\/p>\n

In Latin America<\/span>, volumes were 3% higher than last year, reflecting new business wins with a broad range of customers in Brazil<\/span> and Colombia<\/span>, partly offset by lower volumes in Mexico<\/span> and Argentina<\/span>.<\/p>\n

Adjusted EBIT of $184 million<\/span> was 6% lower than last year on a comparable constant currency basis, reflecting lower volumes partly offset by price\/mix benefits and favorable cost performance.<\/p>\n

March 2024<\/span> quarter:<\/p>\n

Net sales of $813 million<\/span> were 8% lower than last year on a reported basis, including a favorable impact of 1% related to movements in foreign exchange rates and an unfavorable impact of 1% related to the pass through of lower raw material costs of approximately $10 million<\/span>.\u00a0 On a comparable constant currency basis, net sales were 8% lower than last year, mainly reflecting approximately 8% lower volumes.<\/p>\n

In North America<\/span>, overall beverage volumes improved compared to the December 2023<\/span> quarter.\u00a0 Volumes were 11% lower and hot fill beverage container volumes were 18% lower than the same quarter last year.\u00a0 Lower beverage volumes mainly reflects soft consumer and customer demand in key categories.\u00a0 Specialty Container volumes were lower than last year and, in Latin America<\/span>, volumes were in line with the prior year, reflecting weaker demand in Argentina<\/span>, partly offset by growth in Brazil<\/span> and Colombia<\/span> driven by new business wins.<\/p>\n

Adjusted EBIT of $71 million<\/span> was 1% higher than last year on a comparable constant currency basis, with the impact of lower volumes more than offset by favorable cost performance and benefits from restructuring initiatives, resulting in improved earnings leverage.<\/p>\n

Net interest and income tax expense<\/p>\n

For the nine months ended March 31, 2024<\/span>, net interest expense of $232 million<\/span> was $43 million<\/span> higher than last year, reflecting higher interest rates.\u00a0 GAAP income tax expense was $107 million<\/span> compared with $125 million<\/span> last year. Adjusted tax expense for the nine months ended March 31, 2024<\/span> was $158 million<\/span> compared with $170 million<\/span> last year. Adjusted tax expense represents an effective tax rate of 18%, compared with 17% in the same period last year.<\/p>\n

Adjusted Free Cash Flow<\/p>\n

For the nine months ended March 31, 2024<\/span>, adjusted free cash inflow was $115 million<\/span>, which is approximately $100 million<\/span> higher than $14 million<\/span> in the prior year, and in line with our expectations.\u00a0 Compared with last year, the improvement primarily reflects improved working capital performance.\u00a0<\/p>\n

Net debt was $6,729 million<\/span> at March 31, 2024<\/span>. Leverage, measured as net debt divided by adjusted trailing twelve month EBITDA, was 3.4 times and in line with our expectations.\u00a0 Leverage is expected to return to approximately three times at June 30, 2024<\/span>.<\/p>\n

Fiscal 2024 Guidance – updated<\/p>\n

For the twelve month period ending June 30, 2024<\/span>, the Company expects:<\/p>\n

Adjusted EPS of 68.5 to 71 cents<\/span> per share (previously 67 to 71 cents<\/span> per share) which includes: <\/p>\n

\u2022\u00a0 Comparable constant currency earnings made up of underlying business performance down low single digit % to up low single digit %, a benefit of approximately 2% from share repurchases, and a negative impact of up to 6% related to higher estimated net interest and tax expense;
\u2022\u00a0 A negative impact of approximately 3% related to the sale of the Company’s Russian business on December 23, 2022<\/span>, the impact of which was all in the first half of fiscal 2024; and
\u2022\u00a0 A benefit of up to 2% related to currency translation, assuming current rates prevail through the balance of fiscal 2024.
\u2022\u00a0 In comparable constant currency terms, the Company expects fourth quarter 2024 adjusted EPS to be up mid single digit % higher than the fourth quarter of fiscal 2023.<\/p>\n

Adjusted Free Cash Flow of approximately $850 million<\/span> to $950 million<\/span>. Approximately $70 million<\/span> of cash to be allocated towards share repurchases as part of the program previously announced in fiscal 2023. <\/p>\n

Amcor’s guidance contemplates a range of factors which create a degree of uncertainty and complexity when estimating future financial results. Further information can be found under ‘Cautionary Statement Regarding Forward-Looking Statements’ in this release.<\/p>\n

Conference Call<\/p>\n

Amcor is hosting a conference call with investors and analysts to discuss these results on April 30, 2024<\/span> at 5.30pm<\/span> US Eastern Daylight Time \/ May 1, 2024<\/span> at 7.30am<\/span> Australian Eastern Standard Time. Investors are invited to listen to a live webcast of the conference call at our website, www.amcor.com<\/a>, in the “Investors” section.<\/p>\n

Those wishing to access the call should use the following numbers, with the Conference ID 9115937:<\/p>\n

USA<\/span> & Canada<\/span>: 800 715 9871 (toll-free) USA<\/span>: 646 307 1963 (local) Australia<\/span>: 02 9133 7103 (local), 1800 519 630 (toll-free) United Kingdom<\/span>: 020 3433 3846 (local), 0800 358 0970 (toll-free) Singapore<\/span>: +65 3159 5133 (local) Hong Kong<\/span>: +852 3002 3410 (local) <\/p>\n

From all other countries, the call can be accessed by dialing +1 646 307 1963 (toll).<\/p>\n

A replay of the webcast will also be available in the “Investors” section at www.amcor.com<\/a> following the call.<\/p>\n

About Amcor<\/p>\n

Amcor is a global leader in developing and producing responsible packaging solutions for food, beverage, pharmaceutical, medical, home and personal-care, and other products.\u00a0 Amcor works with leading companies around the world to protect their products, differentiate brands, and improve supply chains through a range of flexible and rigid packaging, specialty cartons, closures and services. The Company is focused on making packaging that is increasingly light-weighted, recyclable and reusable, and made using an increasing amount of recycled content. In fiscal year 2023, 41,000 Amcor people generated $14.7 billion<\/span> in annual sales from operations that span 218 locations in 41 countries.\u00a0 NYSE: AMCR; ASX: AMC\u00a0<\/p>\n

www.amcor.com<\/a>\u00a0 I\u00a0 LinkedIn\u00a0 I\u00a0 Facebook\u00a0 I\u00a0 YouTube<\/p>\n

Contact Information<\/p>\n

\n

Investors<\/span><\/p>\n

Tracey Whitehead<\/span><\/p>\n

<\/p>\n

Damien Bird<\/span><\/p>\n

<\/p>\n

Damon Wright<\/span><\/p>\n

Global Head of Investor Relations<\/span><\/p>\n

<\/p>\n

Vice President Investor Relations Asia Pacific<\/span><\/p>\n

<\/p>\n

Vice President Investor Relations North America<\/span><\/p>\n

Amcor<\/span><\/p>\n

<\/p>\n

Amcor<\/span><\/p>\n

<\/p>\n

Amcor<\/span><\/p>\n

+61 408 037 590<\/span><\/p>\n

<\/p>\n

+61 481 900 499<\/span><\/p>\n

<\/p>\n

+1 224 313 7141<\/span><\/p>\n

tracey.whitehead@amcor.com<\/a>\u00a0<\/span><\/p>\n

<\/p>\n

damien.bird@amcor.com<\/a>\u00a0<\/span><\/p>\n

<\/p>\n

damon.wright@amcor.com<\/a>\u00a0<\/span><\/p>\n

<\/p>\n

Media – Australia<\/span><\/p>\n

<\/p>\n

Media – Europe <\/span><\/p>\n

<\/p>\n

Media – North America<\/span><\/p>\n

James Strong<\/span><\/p>\n

<\/p>\n

Ernesto Duran<\/span><\/p>\n

<\/p>\n

Julie Liedtke<\/span><\/p>\n

Partner<\/span><\/p>\n

<\/p>\n

Head of Global Communications<\/span><\/p>\n

<\/p>\n

Director, Media Relations<\/span><\/p>\n

Citadel-MAGNUS<\/span><\/p>\n

<\/p>\n

Amcor<\/span><\/p>\n

<\/p>\n

Amcor<\/span><\/p>\n

+61 448 881 174<\/span><\/p>\n

<\/p>\n

+41 78 698 69 40<\/span><\/p>\n

<\/p>\n

+1 847 204 2319<\/span><\/p>\n

jstrong@citadelmagnus.com<\/a>\u00a0<\/span><\/p>\n

<\/p>\n

ernesto.duran@amcor.com<\/a>\u00a0<\/span><\/p>\n

<\/p>\n

julie.liedtke@amcor.com<\/a>\u00a0<\/span><\/p>\n

<\/p><\/div>\n

Amcor plc UK Establishment Address: 83 Tower Road North, Warmley, Bristol, England<\/span>, BS30 8XP, United Kingdom<\/span>
UK Overseas Company Number: BR020803
Registered Office: 3rd Floor, 44 Esplanade, St Helier, JE4 9WG, Jersey
Jersey Registered Company Number: 126984, Australian Registered Body Number (ARBN): 630 385 278<\/p>\n

Cautionary Statement Regarding Forward-Looking Statements\u00a0<\/p>\n

This document contains certain statements that are “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identified with words like “believe,” “expect,” “target,” “project,” “may,” “could,” “would,” “approximately,” “possible,” “will,” “should,” “intend,” “plan,” “anticipate,” “commit,” “estimate,” “potential,” “ambitions,” “outlook,” or “continue,” the negative of these words, other terms of similar meaning, or the use of future dates. Such statements are based on the current expectations of the management of Amcor and are qualified by the inherent risks and uncertainties surrounding future expectations generally. Actual results could differ materially from those currently anticipated due to a number of risks and uncertainties. Neither Amcor nor any of its respective directors, executive officers, or advisors provide any representation, assurance, or guarantee that the occurrence of the events expressed or implied in any forward-looking statements will actually occur. Risks and uncertainties that could cause actual results to differ from expectations include, but are not limited to: changes in consumer demand patterns and customer requirements; the loss of key customers, a reduction in production requirements of key customers; significant competition in the industries and regions in which Amcor operates; failure by Amcor to expand its business; challenging current and future global economic conditions, including the Russia<\/span>–Ukraine<\/span> conflict and inflation; impact of operating internationally; price fluctuations or shortages in the availability of raw materials, energy, and other inputs; disruptions to production, supply, and commercial risks, including counterparty credit risks, which may be exacerbated in times of economic volatility;\u00a0 pandemics, epidemics, or other disease outbreaks; an inability to attract and retain our global executive management team and our skilled workforce or successfully manage the transition of key roles, including our Chief Executive Officer; costs and liabilities related to\u00a0 environment, health, and safety (“EHS”) laws and regulations as well as changes in the global climate; labor disputes and an inability to renew collective bargaining agreements at acceptable terms; risks related to climate change; cybersecurity risks; failures or disruptions in information technology systems; rising interest rates; a significant increase in indebtedness or a downgrade in the credit rating; foreign exchange rate risk; a significant write-down of goodwill and\/or other intangible assets; a failure to maintain an effective system of internal control over financial reporting; inability of Amcor’s insurance policies to provide adequate protections; challenges to or the loss of intellectual property rights; litigation, including product liability claims or regulatory developments; increasing scrutiny and changing expectations from investors, customers, and governments with respect to Amcor’s Environmental, Social and Governance practices and commitments resulting in increased costs; changing government regulations in environmental, health, and safety matters; changes in tax laws or changes in our geographic mix of earnings; and other risks and uncertainties identified from time to time in Amcor’s filings with the U.S. Securities and Exchange Commission (the “SEC”), including without limitation, those described under Item 1A. “Risk Factors” of Amcor’s annual report on Form 10-K for the fiscal year ended June 30, 2023<\/span> and any subsequent quarterly reports on Form 10-Q. You can obtain copies of Amcor’s filings with the SEC for free at the SEC’s website (www.sec.gov<\/a>). Forward-looking statements included herein are made only as of the date hereof and Amcor does not undertake any obligation to update any forward-looking statements, or any other information in this communication, as a result of new information, future developments or otherwise, or to correct any inaccuracies or omissions in them which become apparent, except as expressly required by law. All forward-looking statements in this communication are qualified in their entirety by this cautionary statement.<\/p>\n

Presentation of non-GAAP information<\/p>\n

Included in this release are measures of financial performance that are not calculated in accordance with U.S. GAAP. These measures include adjusted EBITDA and EBITDA (calculated as earnings before interest and tax and depreciation and amortization), adjusted EBIT and EBIT (calculated as earnings before interest and tax), adjusted net income, adjusted earnings per share, adjusted free cash flow and net debt.\u00a0 In arriving at these non-GAAP measures, we exclude items that either have a non-recurring impact on the income statement or which, in the judgment of our management, are items that, either as a result of their nature or size, could, were they not singled out, potentially cause investors to extrapolate future performance from an improper base. Note that while amortization of acquired intangible assets is excluded from non-GAAP adjusted financial measures, the revenue of the acquired entities and all other expenses unless otherwise stated, are reflected in our non-GAAP financial performance earnings measures. While not all inclusive, examples of these items include:<\/p>\n

material restructuring programs, including associated costs such as employee severance, pension and related benefits, impairment of property and equipment and other assets, accelerated depreciation, termination payments for contracts and leases, contractual obligations, and any other qualifying costs related to restructuring plans; material sales and earnings from disposed or ceased operations and any associated profit or loss on sale of businesses or subsidiaries; changes in the fair value of economic hedging instruments on commercial paper and contingent purchase consideration; significant pension settlements; impairments in goodwill and equity method investments; material acquisition compensation and transaction costs such as due diligence expenses, professional and legal fees, and integration costs; material purchase accounting adjustments for inventory; amortization of acquired intangible assets from business combination; gains or losses on significant property and divestitures and significant property and other impairments, net of insurance recovery; certain regulatory and legal matters; impacts from highly inflationary accounting; expenses related to the Company’s Chief Executive Officer transition; and impacts related to the Russia<\/span>–Ukraine<\/span> conflict. <\/p>\n

Amcor also evaluates performance on a comparable constant currency basis, which measures financial results assuming constant foreign currency exchange rates used for translation based on the average rates in effect for the comparable prior year period. In order to compute comparable constant currency results, we multiply or divide, as appropriate, current-year U.S. dollar results by the current year average foreign exchange rates and then multiply or divide, as appropriate, those amounts by the prior-year average foreign exchange rates. We then adjust for other items affecting comparability. While not all inclusive, examples of items affecting comparability include the difference between sales or earnings in the current period and the prior period related to disposed, or ceased operations. Comparable constant currency net sales performance also excludes the impact from passing through movements in raw material costs.\u00a0\u00a0<\/p>\n

Management has used and uses these measures internally for planning, forecasting and evaluating the performance of the Company’s reporting segments and certain of the measures are used as a component of Amcor’s Board of Directors’ measurement of Amcor’s performance for incentive compensation purposes. Amcor believes that these non-GAAP measures are useful to enable investors to perform comparisons of current and historical performance of the Company. For each of these non-GAAP financial measures, a reconciliation to the most directly comparable U.S. GAAP financial measure has been provided herein. These non-GAAP financial measures should not be construed as an alternative to results determined in accordance with U.S. GAAP.\u00a0The Company provides guidance on a non-GAAP basis as we are unable to predict with reasonable certainty the ultimate outcome and timing of certain significant forward-looking items without unreasonable effort.\u00a0 These items include but are not limited to the impact of foreign exchange translation, restructuring program costs, asset impairments, possible gains and losses on the sale of assets, and certain tax related events.\u00a0These items are uncertain, depend on various factors, and could have a material impact on U.S. GAAP earnings and cash flow measures for the guidance period.<\/p>\n

Dividends<\/p>\n

Amcor has received a waiver from the ASX’s settlement operating rules, which will allow the Company to defer processing conversions between its ordinary share and CDI registers from May 21, 2024<\/span> to May 22, 2024<\/span> inclusive.<\/p>\n

\u00a0<\/p>\n

\u00a0<\/p>\n

\n

U.S. GAAP Condensed Consolidated Statements of Income (Unaudited)<\/span><\/p>\n

<\/p>\n

Three Months Ended March 31, <\/span><\/p>\n

Nine Months Ended March 31, <\/span><\/p>\n

($ million)<\/span><\/p>\n

<\/p>\n

2023<\/span><\/p>\n

<\/p>\n

2024<\/span><\/p>\n

2023<\/span><\/p>\n

<\/p>\n

2024<\/span><\/p>\n

Net sales<\/span><\/p>\n

<\/p>\n

3,667<\/span><\/p>\n

<\/p>\n

3,411<\/span><\/p>\n

11,021<\/span><\/p>\n

<\/p>\n

10,105<\/span><\/p>\n

Cost of sales<\/span><\/p>\n

<\/p>\n

(2,994)<\/span><\/p>\n

<\/p>\n

(2,719)<\/span><\/p>\n

(9,018)<\/span><\/p>\n

<\/p>\n

(8,147)<\/span><\/p>\n

Gross profit<\/span><\/p>\n

<\/p>\n

673<\/span><\/p>\n

<\/p>\n

692<\/span><\/p>\n

2,003<\/span><\/p>\n

<\/p>\n

1,958<\/span><\/p>\n

Selling, general, and administrative expenses<\/span><\/p>\n

<\/p>\n

(317)<\/span><\/p>\n

<\/p>\n

(330)<\/span><\/p>\n

(917)<\/span><\/p>\n

<\/p>\n

(931)<\/span><\/p>\n

Research and development expenses<\/span><\/p>\n

<\/p>\n

(27)<\/span><\/p>\n

<\/p>\n

(25)<\/span><\/p>\n

(76)<\/span><\/p>\n

<\/p>\n

(80)<\/span><\/p>\n

Restructuring and other related activities, net<\/span><\/p>\n

<\/p>\n

(50)<\/span><\/p>\n

<\/p>\n

(30)<\/span><\/p>\n

162<\/span><\/p>\n

<\/p>\n

(82)<\/span><\/p>\n

Other income\/(expenses), net<\/span><\/p>\n

<\/p>\n

3<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

11<\/span><\/p>\n

<\/p>\n

(46)<\/span><\/p>\n

Operating income<\/span><\/p>\n

<\/p>\n

282<\/span><\/p>\n

<\/p>\n

307<\/span><\/p>\n

1,183<\/span><\/p>\n

<\/p>\n

819<\/span><\/p>\n

Interest expense, net<\/span><\/p>\n

<\/p>\n

(71)<\/span><\/p>\n

<\/p>\n

(79)<\/span><\/p>\n

(189)<\/span><\/p>\n

<\/p>\n

(232)<\/span><\/p>\n

Other non-operating income, net<\/span><\/p>\n

<\/p>\n

2<\/span><\/p>\n

<\/p>\n

2<\/span><\/p>\n

5<\/span><\/p>\n

<\/p>\n

2<\/span><\/p>\n

Income before income taxes and equity in loss of
affiliated companies<\/span><\/p>\n

<\/p>\n

213<\/span><\/p>\n

<\/p>\n

230<\/span><\/p>\n

999<\/span><\/p>\n

<\/p>\n

589<\/span><\/p>\n

Income tax expense<\/span><\/p>\n

<\/p>\n

(34)<\/span><\/p>\n

<\/p>\n

(40)<\/span><\/p>\n

(125)<\/span><\/p>\n

<\/p>\n

(107)<\/span><\/p>\n

Equity in loss of affiliated companies, net of tax<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

<\/p>\n

(1)<\/span><\/p>\n

\u2014<\/span><\/p>\n

<\/p>\n

(3)<\/span><\/p>\n

Net income<\/span><\/p>\n

<\/p>\n

179<\/span><\/p>\n

<\/p>\n

189<\/span><\/p>\n

874<\/span><\/p>\n

<\/p>\n

479<\/span><\/p>\n

Net income attributable to non-controlling interests<\/span><\/p>\n

<\/p>\n

(2)<\/span><\/p>\n

<\/p>\n

(2)<\/span><\/p>\n

(6)<\/span><\/p>\n

<\/p>\n

(6)<\/span><\/p>\n

Net income attributable to Amcor plc<\/span><\/p>\n

<\/p>\n

177<\/span><\/p>\n

<\/p>\n

187<\/span><\/p>\n

868<\/span><\/p>\n

<\/p>\n

473<\/span><\/p>\n

USD:EUR average FX rate<\/span><\/p>\n

<\/p>\n

0.9318<\/span><\/p>\n

<\/p>\n

0.9208<\/span><\/p>\n

0.9687<\/span><\/p>\n

<\/p>\n

0.9231<\/span><\/p>\n

Basic earnings per share attributable to Amcor<\/span><\/p>\n

<\/p>\n

0.120<\/span><\/p>\n

<\/p>\n

0.129<\/span><\/p>\n

0.585<\/span><\/p>\n

<\/p>\n

0.327<\/span><\/p>\n

Diluted earnings per share attributable to Amcor<\/span><\/p>\n

<\/p>\n

0.119<\/span><\/p>\n

<\/p>\n

0.129<\/span><\/p>\n

0.581<\/span><\/p>\n

<\/p>\n

0.327<\/span><\/p>\n

Weighted average number of shares outstanding \u2013
Basic<\/span><\/p>\n

<\/p>\n

1,470<\/span><\/p>\n

<\/p>\n

1,439<\/span><\/p>\n

1,473<\/span><\/p>\n

<\/p>\n

1,439<\/span><\/p>\n

Weighted average number of shares outstanding \u2013
Diluted<\/span><\/p>\n

<\/p>\n

1,476<\/span><\/p>\n

<\/p>\n

1,440<\/span><\/p>\n

1,482<\/span><\/p>\n

<\/p>\n

1,440<\/span><\/p>\n<\/div>\n

\u00a0<\/p>\n

\u00a0<\/p>\n

\n

U.S. GAAP Condensed Consolidated Statements of Cash Flows (Unaudited)<\/span><\/p>\n

<\/p>\n

Nine Months Ended March 31, <\/span><\/p>\n

($ million)<\/span><\/p>\n

<\/p>\n

2023<\/span><\/p>\n

<\/p>\n

2024<\/span><\/p>\n

Net income<\/span><\/p>\n

<\/p>\n

874<\/span><\/p>\n

<\/p>\n

479<\/span><\/p>\n

Depreciation, amortization and impairment<\/span><\/p>\n

<\/p>\n

428<\/span><\/p>\n

<\/p>\n

448<\/span><\/p>\n

Net gain on disposal of businesses<\/span><\/p>\n

<\/p>\n

(219)<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

Changes in operating assets and liabilities, excluding effect of acquisitions, divestitures, and
currency<\/span><\/p>\n

<\/p>\n

(869)<\/span><\/p>\n

<\/p>\n

(680)<\/span><\/p>\n

Other non-cash items<\/span><\/p>\n

<\/p>\n

115<\/span><\/p>\n

<\/p>\n

131<\/span><\/p>\n

Net cash provided by operating activities<\/span><\/p>\n

<\/p>\n

329<\/span><\/p>\n

<\/p>\n

378<\/span><\/p>\n

Purchase of property, plant and equipment and other intangible assets<\/span><\/p>\n

<\/p>\n

(382)<\/span><\/p>\n

<\/p>\n

(358)<\/span><\/p>\n

Proceeds from sales of property, plant and equipment and other intangible assets<\/span><\/p>\n

<\/p>\n

12<\/span><\/p>\n

<\/p>\n

12<\/span><\/p>\n

Business acquisitions and investments in affiliated companies, and other<\/span><\/p>\n

<\/p>\n

(143)<\/span><\/p>\n

<\/p>\n

(23)<\/span><\/p>\n

Proceeds from divestitures<\/span><\/p>\n

<\/p>\n

365<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

Net debt proceeds<\/span><\/p>\n

<\/p>\n

464<\/span><\/p>\n

<\/p>\n

426<\/span><\/p>\n

Dividends paid<\/span><\/p>\n

<\/p>\n

(545)<\/span><\/p>\n

<\/p>\n

(542)<\/span><\/p>\n

Share buyback\/cancellations<\/span><\/p>\n

<\/p>\n

(200)<\/span><\/p>\n

<\/p>\n

(30)<\/span><\/p>\n

Purchase of treasury shares and tax withholdings for share-based incentive plans<\/span><\/p>\n

<\/p>\n

(88)<\/span><\/p>\n

<\/p>\n

(51)<\/span><\/p>\n

Other, including effect of exchange rate on cash and cash equivalents<\/span><\/p>\n

<\/p>\n

(98)<\/span><\/p>\n

<\/p>\n

(44)<\/span><\/p>\n

Net decrease in cash and cash equivalents<\/span><\/p>\n

<\/p>\n

(286)<\/span><\/p>\n

<\/p>\n

(232)<\/span><\/p>\n

Cash and cash equivalents balance at beginning of the year<\/span><\/p>\n

<\/p>\n

850<\/span><\/p>\n

<\/p>\n

689<\/span><\/p>\n

Cash and cash equivalents balance at end of the period<\/span><\/p>\n

<\/p>\n

564<\/span><\/p>\n

<\/p>\n

457<\/span><\/p>\n<\/div>\n

\u00a0<\/p>\n

\u00a0<\/p>\n

\n

U.S. GAAP Condensed Consolidated Balance Sheets (Unaudited)\u00a0<\/span><\/p>\n

<\/p>\n

($ million)<\/span><\/p>\n

<\/p>\n

June 30, 2023<\/span><\/p>\n

<\/p>\n

March 31, 2024<\/span><\/p>\n

Cash and cash equivalents<\/span><\/p>\n

<\/p>\n

689<\/span><\/p>\n

<\/p>\n

457<\/span><\/p>\n

Trade receivables, net<\/span><\/p>\n

<\/p>\n

1,875<\/span><\/p>\n

<\/p>\n

1,935<\/span><\/p>\n

Inventories, net<\/span><\/p>\n

<\/p>\n

2,213<\/span><\/p>\n

<\/p>\n

2,085<\/span><\/p>\n

Property, plant, and equipment, net<\/span><\/p>\n

<\/p>\n

3,762<\/span><\/p>\n

<\/p>\n

3,762<\/span><\/p>\n

Goodwill and other intangible assets, net<\/span><\/p>\n

<\/p>\n

6,890<\/span><\/p>\n

<\/p>\n

6,791<\/span><\/p>\n

Other assets<\/span><\/p>\n

<\/p>\n

1,574<\/span><\/p>\n

<\/p>\n

1,630<\/span><\/p>\n

Total assets<\/span><\/p>\n

<\/p>\n

17,003<\/span><\/p>\n

<\/p>\n

16,660<\/span><\/p>\n

Trade payables<\/span><\/p>\n

<\/p>\n

2,690<\/span><\/p>\n

<\/p>\n

2,195<\/span><\/p>\n

Short-term debt and current portion of long-term debt<\/span><\/p>\n

<\/p>\n

93<\/span><\/p>\n

<\/p>\n

131<\/span><\/p>\n

Long-term debt, less current portion<\/span><\/p>\n

<\/p>\n

6,653<\/span><\/p>\n

<\/p>\n

7,055<\/span><\/p>\n

Accruals and other liabilities<\/span><\/p>\n

<\/p>\n

3,477<\/span><\/p>\n

<\/p>\n

3,271<\/span><\/p>\n

Shareholders’ equity<\/span><\/p>\n

<\/p>\n

4,090<\/span><\/p>\n

<\/p>\n

4,008<\/span><\/p>\n

Total liabilities and shareholders’ equity<\/span><\/p>\n

<\/p>\n

17,003<\/span><\/p>\n

<\/p>\n

16,660<\/span><\/p>\n<\/div>\n

\u00a0<\/p>\n

\u00a0<\/p>\n

\n

Components of Fiscal 2024 Net Sales growth<\/span><\/p>\n

Three Months Ended March 31, <\/span><\/p>\n

Nine Months Ended March 31, <\/span><\/p>\n

($ million)<\/span><\/p>\n

Flexibles<\/span><\/p>\n

Rigid
Packaging<\/span><\/p>\n

Total<\/span><\/p>\n

Flexibles<\/span><\/p>\n

Rigid
Packaging<\/span><\/p>\n

Total<\/span><\/p>\n

Net sales fiscal 2024<\/span><\/p>\n

2,598<\/span><\/p>\n

813<\/span><\/p>\n

3,411<\/span><\/p>\n

7,646<\/span><\/p>\n

2,459<\/span><\/p>\n

10,105<\/span><\/p>\n

Net sales fiscal 2023<\/span><\/p>\n

2,787<\/span><\/p>\n

880<\/span><\/p>\n

3,667<\/span><\/p>\n

8,378<\/span><\/p>\n

2,643<\/span><\/p>\n

11,021<\/span><\/p>\n

Reported Growth %<\/span><\/p>\n

(7)<\/span><\/p>\n

(8)<\/span><\/p>\n

(7)<\/span><\/p>\n

(9)<\/span><\/p>\n

(7)<\/span><\/p>\n

(8)<\/span><\/p>\n

FX %<\/span><\/p>\n

1<\/span><\/p>\n

1<\/span><\/p>\n

1<\/span><\/p>\n

2<\/span><\/p>\n

1<\/span><\/p>\n

2<\/span><\/p>\n

Constant Currency Growth %<\/span><\/p>\n

(8)<\/span><\/p>\n

(9)<\/span><\/p>\n

(8)<\/span><\/p>\n

(11)<\/span><\/p>\n

(8)<\/span><\/p>\n

(10)<\/span><\/p>\n

RM Pass Through %<\/span><\/p>\n

(2)<\/span><\/p>\n

(1)<\/span><\/p>\n

(2)<\/span><\/p>\n

(2)<\/span><\/p>\n

\u2014<\/span><\/p>\n

(1)<\/span><\/p>\n

Items affecting comparability %<\/span><\/p>\n

\u2014<\/span><\/p>\n

\u2014<\/span><\/p>\n

\u2014<\/span><\/p>\n

(2)<\/span><\/p>\n

\u2014<\/span><\/p>\n

(1)<\/span><\/p>\n

Comparable Constant Currency
Growth %<\/span><\/p>\n

(6)<\/span><\/p>\n

(8)<\/span><\/p>\n

(6)<\/span><\/p>\n

(7)<\/span><\/p>\n

(8)<\/span><\/p>\n

(7)<\/span><\/p>\n

Acquired operations %<\/span><\/p>\n

1<\/span><\/p>\n

\u2014<\/span><\/p>\n

1<\/span><\/p>\n

1<\/span><\/p>\n

\u2014<\/span><\/p>\n

1<\/span><\/p>\n

Organic Growth %<\/span><\/p>\n

(6)<\/span><\/p>\n

(8)<\/span><\/p>\n

(7)<\/span><\/p>\n

(8)<\/span><\/p>\n

(8)<\/span><\/p>\n

(8)<\/span><\/p>\n

Volume %<\/span><\/p>\n

(2)<\/span><\/p>\n

(8)<\/span><\/p>\n

(4)<\/span><\/p>\n

(7)<\/span><\/p>\n

(9)<\/span><\/p>\n

(7)<\/span><\/p>\n

Price\/Mix %<\/span><\/p>\n

(4)<\/span><\/p>\n

1<\/span><\/p>\n

(3)<\/span><\/p>\n

(1)<\/span><\/p>\n

1<\/span><\/p>\n

(1)<\/span><\/p>\n<\/div>\n

\u00a0<\/p>\n

\u00a0<\/p>\n

\n

Reconciliation of Non-GAAP Measures<\/span><\/p>\n

Reconciliation of adjusted Earnings before interest, tax, depreciation, and amortization (EBITDA), Earnings before interest
and tax (EBIT), Net income, Earnings per share (EPS) and Adjusted Free Cash Flow<\/span><\/p>\n

Three Months Ended March 31, 2023<\/span><\/p>\n

<\/p>\n

Three Months Ended March 31, 2024<\/span><\/p>\n

($ million)<\/span><\/p>\n

<\/p>\n

EBITDA<\/span><\/p>\n

<\/p>\n

EBIT<\/span><\/p>\n

<\/p>\n

Net
Income<\/span><\/p>\n

<\/p>\n

EPS
(Diluted
<\/span>US\u00a0
cents)(1)<\/span><\/span><\/p>\n

<\/p>\n

EBITDA<\/span><\/p>\n

<\/p>\n

EBIT<\/span><\/p>\n

<\/p>\n

Net
Income<\/span><\/p>\n

<\/p>\n

EPS
(Diluted
US
cents)(1)<\/span><\/span><\/p>\n

Net income attributable to Amcor<\/span><\/p>\n

<\/p>\n

177<\/span><\/p>\n

<\/p>\n

177<\/span><\/p>\n

<\/p>\n

177<\/span><\/p>\n

<\/p>\n

11.9<\/span><\/p>\n

<\/p>\n

187<\/span><\/p>\n

<\/p>\n

187<\/span><\/p>\n

<\/p>\n

187<\/span><\/p>\n

<\/p>\n

12.9<\/span><\/p>\n

Net income attributable to non-controlling
interests<\/span><\/p>\n

<\/p>\n

2<\/span><\/p>\n

<\/p>\n

2<\/span><\/p>\n

<\/p>\n

2<\/span><\/p>\n

<\/p>\n

2<\/span><\/p>\n

Tax expense<\/span><\/p>\n

<\/p>\n

34<\/span><\/p>\n

<\/p>\n

34<\/span><\/p>\n

<\/p>\n

40<\/span><\/p>\n

<\/p>\n

40<\/span><\/p>\n

Interest expense, net<\/span><\/p>\n

<\/p>\n

71<\/span><\/p>\n

<\/p>\n

71<\/span><\/p>\n

<\/p>\n

79<\/span><\/p>\n

<\/p>\n

79<\/span><\/p>\n

Depreciation and amortization<\/span><\/p>\n

<\/p>\n

142<\/span><\/p>\n

<\/p>\n

146<\/span><\/p>\n

EBITDA, EBIT, Net income, and EPS<\/span><\/p>\n

<\/p>\n

426<\/span><\/p>\n

<\/p>\n

284<\/span><\/p>\n

<\/p>\n

177<\/span><\/p>\n

<\/p>\n

11.9<\/span><\/p>\n

<\/p>\n

454<\/span><\/p>\n

<\/p>\n

308<\/span><\/p>\n

<\/p>\n

187<\/span><\/p>\n

<\/p>\n

12.9<\/span><\/p>\n

Impact of highly inflationary accounting<\/span><\/p>\n

<\/p>\n

6<\/span><\/p>\n

<\/p>\n

6<\/span><\/p>\n

<\/p>\n

6<\/span><\/p>\n

<\/p>\n

0.4<\/span><\/p>\n

<\/p>\n

4<\/span><\/p>\n

<\/p>\n

4<\/span><\/p>\n

<\/p>\n

4<\/span><\/p>\n

<\/p>\n

0.2<\/span><\/p>\n

Restructuring and other related activities, net(2)<\/span><\/p>\n

<\/p>\n

48<\/span><\/p>\n

<\/p>\n

48<\/span><\/p>\n

<\/p>\n

48<\/span><\/p>\n

<\/p>\n

3.3<\/span><\/p>\n

<\/p>\n

30<\/span><\/p>\n

<\/p>\n

30<\/span><\/p>\n

<\/p>\n

30<\/span><\/p>\n

<\/p>\n

2.1<\/span><\/p>\n

CEO transition costs<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

<\/p>\n

8<\/span><\/p>\n

<\/p>\n

8<\/span><\/p>\n

<\/p>\n

8<\/span><\/p>\n

<\/p>\n

0.6<\/span><\/p>\n

Other<\/span><\/p>\n

<\/p>\n

4<\/span><\/p>\n

<\/p>\n

4<\/span><\/p>\n

<\/p>\n

4<\/span><\/p>\n

<\/p>\n

0.1<\/span><\/p>\n

<\/p>\n

4<\/span><\/p>\n

<\/p>\n

4<\/span><\/p>\n

<\/p>\n

4<\/span><\/p>\n

<\/p>\n

0.4<\/span><\/p>\n

Amortization of acquired intangibles(3)<\/span><\/p>\n

<\/p>\n

40<\/span><\/p>\n

<\/p>\n

40<\/span><\/p>\n

<\/p>\n

2.7<\/span><\/p>\n

<\/p>\n

43<\/span><\/p>\n

<\/p>\n

43<\/span><\/p>\n

<\/p>\n

2.9<\/span><\/p>\n

Tax effect of above items<\/span><\/p>\n

<\/p>\n

(15)<\/span><\/p>\n

<\/p>\n

(0.9)<\/span><\/p>\n

<\/p>\n

(19)<\/span><\/p>\n

<\/p>\n

(1.3)<\/span><\/p>\n

Adjusted EBITDA, EBIT, Net income and EPS <\/span><\/p>\n

<\/p>\n

484<\/span><\/p>\n

<\/p>\n

382<\/span><\/p>\n

<\/p>\n

260<\/span><\/p>\n

<\/p>\n

17.5<\/span><\/p>\n

<\/p>\n

499<\/span><\/p>\n

<\/p>\n

397<\/span><\/p>\n

<\/p>\n

257<\/span><\/p>\n

<\/p>\n

17.8<\/span><\/p>\n


Reconciliation of adjusted growth to comparable constant currency growth<\/span><\/p>\n

% growth – Adjusted EBITDA, EBIT, Net income, and EPS<\/span><\/p>\n

<\/p>\n

3<\/span><\/p>\n

<\/p>\n

4<\/span><\/p>\n

<\/p>\n

(1)<\/span><\/p>\n

<\/p>\n

2<\/span><\/p>\n

% items affecting comparability(4)<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

% currency impact<\/span><\/p>\n

<\/p>\n

(1)<\/span><\/p>\n

<\/p>\n

(1)<\/span><\/p>\n

<\/p>\n

(1)<\/span><\/p>\n

<\/p>\n

(1)<\/span><\/p>\n

% comparable constant currency growth<\/span><\/p>\n

<\/p>\n

2<\/span><\/p>\n

<\/p>\n

3<\/span><\/p>\n

<\/p>\n

(2)<\/span><\/p>\n

<\/p>\n

1<\/span><\/p>\n

Adjusted EBITDA<\/span><\/p>\n

<\/p>\n

484<\/span><\/p>\n

<\/p>\n

499<\/span><\/p>\n

Interest paid, net<\/span><\/p>\n

<\/p>\n

(57)<\/span><\/p>\n

<\/p>\n

(55)<\/span><\/p>\n

Income tax paid<\/span><\/p>\n

<\/p>\n

(39)<\/span><\/p>\n

<\/p>\n

(39)<\/span><\/p>\n

Purchase of property, plant and equipment and<\/span><\/p>\n

other intangible assets<\/span><\/p>\n

<\/p>\n

(132)<\/span><\/p>\n

<\/p>\n

(113)<\/span><\/p>\n

Proceeds from sales of property, plant and<\/span><\/p>\n

equipment and other intangible assets<\/span><\/p>\n

<\/p>\n

4<\/span><\/p>\n

<\/p>\n

1<\/span><\/p>\n

Movement in working capital<\/span><\/p>\n

<\/p>\n

(191)<\/span><\/p>\n

<\/p>\n

(225)<\/span><\/p>\n

Other<\/span><\/p>\n

<\/p>\n

6<\/span><\/p>\n

<\/p>\n

(5)<\/span><\/p>\n

Adjusted Free Cash Flow<\/span><\/p>\n

<\/p>\n

75<\/span><\/p>\n

<\/p>\n

63<\/span><\/p>\n

<\/p>\n

(1) Calculation of diluted EPS for the three months ended March 31, 2024 excludes net income attributable to shares to be repurchased under
forward contracts of $1 million.\u00a0 Calculation of diluted EPS for the three months ended March 31, 2023 excludes net income attributable to shares to
be repurchased under forward contracts of $1 million.\u00a0<\/span><\/p>\n

(2) Includes incremental restructuring and other costs attributable to group wide initiatives to partly offset divested earnings from the Russian
business.\u00a0<\/span><\/p>\n

(3) Amortization of acquired intangible assets from business combinations.\u00a0<\/span><\/p>\n

(4) Reflects the impact of disposed and ceased operations.<\/span><\/p>\n

\u00a0<\/p>\n<\/div>\n

\u00a0<\/p>\n

\u00a0<\/p>\n

\n

Nine Months Ended March 31, 2023<\/span><\/p>\n

<\/p>\n

Nine Months Ended March 31, 2024<\/span><\/p>\n

($ million)<\/span><\/p>\n

<\/p>\n

EBITDA<\/span><\/p>\n

<\/p>\n

EBIT<\/span><\/p>\n

<\/p>\n

Net
Income<\/span><\/p>\n

<\/p>\n

EPS
(Diluted
<\/span>US\u00a0
cents)(1)<\/span><\/span><\/p>\n

<\/p>\n

EBITDA<\/span><\/p>\n

<\/p>\n

EBIT<\/span><\/p>\n

<\/p>\n

Net
Income<\/span><\/p>\n

<\/p>\n

EPS
(Diluted
US
cents)(1)<\/span><\/span><\/p>\n

Net income attributable to Amcor<\/span><\/p>\n

<\/p>\n

868<\/span><\/p>\n

<\/p>\n

868<\/span><\/p>\n

<\/p>\n

868<\/span><\/p>\n

<\/p>\n

58.1<\/span><\/p>\n

<\/p>\n

473<\/span><\/p>\n

<\/p>\n

473<\/span><\/p>\n

<\/p>\n

473<\/span><\/p>\n

<\/p>\n

32.7<\/span><\/p>\n

Net income attributable to non-controlling
interests<\/span><\/p>\n

<\/p>\n

6<\/span><\/p>\n

<\/p>\n

6<\/span><\/p>\n

<\/p>\n

6<\/span><\/p>\n

<\/p>\n

6<\/span><\/p>\n

Tax expense<\/span><\/p>\n

<\/p>\n

125<\/span><\/p>\n

<\/p>\n

125<\/span><\/p>\n

<\/p>\n

107<\/span><\/p>\n

<\/p>\n

107<\/span><\/p>\n

Interest expense, net<\/span><\/p>\n

<\/p>\n

189<\/span><\/p>\n

<\/p>\n

189<\/span><\/p>\n

<\/p>\n

232<\/span><\/p>\n

<\/p>\n

232<\/span><\/p>\n

Depreciation and amortization<\/span><\/p>\n

<\/p>\n

425<\/span><\/p>\n

<\/p>\n

433<\/span><\/p>\n

EBITDA, EBIT, Net income, and EPS<\/span><\/p>\n

<\/p>\n

1,613<\/span><\/p>\n

<\/p>\n

1,188<\/span><\/p>\n

<\/p>\n

868<\/span><\/p>\n

<\/p>\n

58.1<\/span><\/p>\n

<\/p>\n

1,251<\/span><\/p>\n

<\/p>\n

818<\/span><\/p>\n

<\/p>\n

473<\/span><\/p>\n

<\/p>\n

32.7<\/span><\/p>\n

Impact of highly inflationary accounting<\/span><\/p>\n

<\/p>\n

19<\/span><\/p>\n

<\/p>\n

19<\/span><\/p>\n

<\/p>\n

19<\/span><\/p>\n

<\/p>\n

1.3<\/span><\/p>\n

<\/p>\n

55<\/span><\/p>\n

<\/p>\n

55<\/span><\/p>\n

<\/p>\n

55<\/span><\/p>\n

<\/p>\n

3.8<\/span><\/p>\n

Restructuring and other related activities, net(2)<\/span><\/p>\n

<\/p>\n

(156)<\/span><\/p>\n

<\/p>\n

(156)<\/span><\/p>\n

<\/p>\n

(156)<\/span><\/p>\n

<\/p>\n

(10.4)<\/span><\/p>\n

<\/p>\n

82<\/span><\/p>\n

<\/p>\n

82<\/span><\/p>\n

<\/p>\n

82<\/span><\/p>\n

<\/p>\n

5.7<\/span><\/p>\n

CEO transition costs<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

<\/p>\n

8<\/span><\/p>\n

<\/p>\n

8<\/span><\/p>\n

<\/p>\n

8<\/span><\/p>\n

<\/p>\n

0.6<\/span><\/p>\n

Other<\/span><\/p>\n

<\/p>\n

2<\/span><\/p>\n

<\/p>\n

2<\/span><\/p>\n

<\/p>\n

2<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

<\/p>\n

17<\/span><\/p>\n

<\/p>\n

17<\/span><\/p>\n

<\/p>\n

17<\/span><\/p>\n

<\/p>\n

1.2<\/span><\/p>\n

Amortization of acquired intangibles(3)<\/span><\/p>\n

<\/p>\n

120<\/span><\/p>\n

<\/p>\n

120<\/span><\/p>\n

<\/p>\n

8.0<\/span><\/p>\n

<\/p>\n

126<\/span><\/p>\n

<\/p>\n

126<\/span><\/p>\n

<\/p>\n

8.7<\/span><\/p>\n

Tax effect of above items<\/span><\/p>\n

<\/p>\n

(45)<\/span><\/p>\n

<\/p>\n

(2.9)<\/span><\/p>\n

<\/p>\n

(51)<\/span><\/p>\n

<\/p>\n

(3.6)<\/span><\/p>\n

Adjusted EBITDA, EBIT, Net income and EPS <\/span><\/p>\n

<\/p>\n

1,478<\/span><\/p>\n

<\/p>\n

1,173<\/span><\/p>\n

<\/p>\n

808<\/span><\/p>\n

<\/p>\n

54.1<\/span><\/p>\n

<\/p>\n

1,412<\/span><\/p>\n

<\/p>\n

1,106<\/span><\/p>\n

<\/p>\n

710<\/span><\/p>\n

<\/p>\n

49.1<\/span><\/p>\n


Reconciliation of adjusted growth to comparable constant currency growth<\/span><\/p>\n

% growth – Adjusted EBITDA, EBIT, Net income, and EPS<\/span><\/p>\n

<\/p>\n

(4)<\/span><\/p>\n

<\/p>\n

(6)<\/span><\/p>\n

<\/p>\n

(12)<\/span><\/p>\n

<\/p>\n

(9)<\/span><\/p>\n

% items affecting comparability(4)<\/span><\/p>\n

<\/p>\n

3<\/span><\/p>\n

<\/p>\n

4<\/span><\/p>\n

<\/p>\n

5<\/span><\/p>\n

<\/p>\n

4<\/span><\/p>\n

% currency impact<\/span><\/p>\n

<\/p>\n

(2)<\/span><\/p>\n

<\/p>\n

(1)<\/span><\/p>\n

<\/p>\n

(2)<\/span><\/p>\n

<\/p>\n

(2)<\/span><\/p>\n

% comparable constant currency growth<\/span><\/p>\n

<\/p>\n

(3)<\/span><\/p>\n

<\/p>\n

(3)<\/span><\/p>\n

<\/p>\n

(9)<\/span><\/p>\n

<\/p>\n

(7)<\/span><\/p>\n

Adjusted EBITDA<\/span><\/p>\n

<\/p>\n

1,478<\/span><\/p>\n

<\/p>\n

1,412<\/span><\/p>\n

Interest paid, net<\/span><\/p>\n

<\/p>\n

(169)<\/span><\/p>\n

<\/p>\n

(196)<\/span><\/p>\n

Income tax paid<\/span><\/p>\n

<\/p>\n

(130)<\/span><\/p>\n

<\/p>\n

(163)<\/span><\/p>\n

Purchase of property, plant and equipment and<\/span><\/p>\n

other intangible assets<\/span><\/p>\n

<\/p>\n

(382)<\/span><\/p>\n

<\/p>\n

(358)<\/span><\/p>\n

Proceeds from sales of property, plant and<\/span><\/p>\n

equipment and other intangible assets<\/span><\/p>\n

<\/p>\n

12<\/span><\/p>\n

<\/p>\n

12<\/span><\/p>\n

Movement in working capital<\/span><\/p>\n

<\/p>\n

(801)<\/span><\/p>\n

<\/p>\n

(625)<\/span><\/p>\n

Other<\/span><\/p>\n

<\/p>\n

6<\/span><\/p>\n

<\/p>\n

33<\/span><\/p>\n

Adjusted Free Cash Flow<\/span><\/p>\n

<\/p>\n

14<\/span><\/p>\n

<\/p>\n

115<\/span><\/p>\n

<\/p>\n

(1) Calculation of diluted EPS for the nine months ended March 31, 2024 excludes net income attributable to shares to be repurchased under
forward contracts of $2 million.\u00a0 Calculation of diluted EPS for the nine months ended March 31, 2023 excludes net income attributable to shares to
be repurchased under forward contracts of $6 million.\u00a0<\/span><\/p>\n

(2) Includes incremental restructuring and other costs attributable to group wide initiatives to partly offset divested earnings from the Russian
business. The prior period includes the net gain on the December 2022 disposal of the Russian business.\u00a0<\/span><\/p>\n

(3) Amortization of acquired intangible assets from business combinations.\u00a0<\/span><\/p>\n

(4) Reflects the impact of disposed and ceased operations.\u00a0<\/span><\/p>\n<\/div>\n

\u00a0<\/p>\n

\u00a0<\/p>\n

\n

Reconciliation of adjusted\u00a0EBIT\u00a0by reportable segment<\/span><\/p>\n

<\/p>\n

Three Months Ended March 31, 2023<\/span><\/p>\n

<\/p>\n

Three Months Ended March 31, 2024<\/span><\/p>\n

($ million)<\/span><\/p>\n

<\/p>\n

Flexibles<\/span><\/p>\n

<\/p>\n

Rigid
Packaging<\/span><\/p>\n

<\/p>\n

Other<\/span><\/p>\n

<\/p>\n

Total<\/span><\/p>\n

<\/p>\n

Flexibles<\/span><\/p>\n

<\/p>\n

Rigid
Packaging<\/span><\/p>\n

<\/p>\n

Other<\/span><\/p>\n

<\/p>\n

Total<\/span><\/p>\n

Net income attributable to Amcor<\/span><\/p>\n

<\/p>\n

177<\/span><\/p>\n

<\/p>\n

187<\/span><\/p>\n

Net income attributable to non-
controlling interests<\/span><\/p>\n

<\/p>\n

2<\/span><\/p>\n

<\/p>\n

2<\/span><\/p>\n

Tax expense<\/span><\/p>\n

<\/p>\n

34<\/span><\/p>\n

<\/p>\n

40<\/span><\/p>\n

Interest expense, net<\/span><\/p>\n

<\/p>\n

71<\/span><\/p>\n

<\/p>\n

79<\/span><\/p>\n

EBIT<\/span><\/p>\n

<\/p>\n

248<\/span><\/p>\n

<\/p>\n

56<\/span><\/p>\n

<\/p>\n

(20)<\/span><\/p>\n

<\/p>\n

284<\/span><\/p>\n

<\/p>\n

290<\/span><\/p>\n

<\/p>\n

61<\/span><\/p>\n

<\/p>\n

(43)<\/span><\/p>\n

<\/p>\n

308<\/span><\/p>\n

Impact of highly inflationary
accounting<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

<\/p>\n

6<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

<\/p>\n

6<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

<\/p>\n

4<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

<\/p>\n

4<\/span><\/p>\n

Restructuring and other related
activities, net(1)<\/span><\/p>\n

<\/p>\n

42<\/span><\/p>\n

<\/p>\n

6<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

<\/p>\n

48<\/span><\/p>\n

<\/p>\n

25<\/span><\/p>\n

<\/p>\n

5<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

<\/p>\n

30<\/span><\/p>\n

CEO transition costs<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

<\/p>\n

8<\/span><\/p>\n

<\/p>\n

8<\/span><\/p>\n

Other<\/span><\/p>\n

<\/p>\n

8<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

<\/p>\n

(4)<\/span><\/p>\n

<\/p>\n

4<\/span><\/p>\n

<\/p>\n

1<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

<\/p>\n

3<\/span><\/p>\n

<\/p>\n

4<\/span><\/p>\n

Amortization of acquired intangibles(2)<\/span><\/p>\n

<\/p>\n

39<\/span><\/p>\n

<\/p>\n

1<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

<\/p>\n

40<\/span><\/p>\n

<\/p>\n

42<\/span><\/p>\n

<\/p>\n

1<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

<\/p>\n

43<\/span><\/p>\n

Adjusted EBIT<\/span><\/p>\n

<\/p>\n

337<\/span><\/p>\n

<\/p>\n

69<\/span><\/p>\n

<\/p>\n

(24)<\/span><\/p>\n

<\/p>\n

382<\/span><\/p>\n

<\/p>\n

358<\/span><\/p>\n

<\/p>\n

71<\/span><\/p>\n

<\/p>\n

(32)<\/span><\/p>\n

<\/p>\n

397<\/span><\/p>\n

Adjusted EBIT \/ sales %<\/span><\/p>\n

<\/p>\n

12.1\u00a0%<\/span><\/p>\n

<\/p>\n

7.8\u00a0%<\/span><\/p>\n

<\/p>\n

10.4\u00a0%<\/span><\/p>\n

<\/p>\n

13.8\u00a0%<\/span><\/p>\n

<\/p>\n

8.7\u00a0%<\/span><\/p>\n

<\/p>\n

11.6\u00a0%<\/span><\/p>\n


Reconciliation of adjusted growth to comparable constant currency growth<\/span><\/p>\n

% growth – Adjusted EBIT<\/span><\/p>\n

<\/p>\n

6<\/span><\/p>\n

<\/p>\n

2<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

<\/p>\n

4<\/span><\/p>\n

% items affecting comparability(3)<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

% currency impact<\/span><\/p>\n

<\/p>\n

(1)<\/span><\/p>\n

<\/p>\n

(1)<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

<\/p>\n

(1)<\/span><\/p>\n

% comparable constant currency<\/span><\/p>\n

<\/p>\n

5<\/span><\/p>\n

<\/p>\n

1<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

<\/p>\n

3<\/span><\/p>\n

<\/p>\n

(1) Includes incremental costs incurred in connection with the Russia-Ukraine conflict in fiscal year 2023.\u00a0<\/span><\/p>\n

(2) Amortization of acquired intangible assets from business combinations.\u00a0<\/span><\/p>\n

(3) Reflects the impact of disposed and ceased operations.\u00a0<\/span><\/p>\n<\/div>\n

\u00a0<\/p>\n

\u00a0<\/p>\n

\n

Nine Months Ended March 31, 2023<\/span><\/p>\n

<\/p>\n

Nine Months Ended March 31, 2024<\/span><\/p>\n

($ million)<\/span><\/p>\n

<\/p>\n

Flexibles<\/span><\/p>\n

<\/p>\n

Rigid
Packaging<\/span><\/p>\n

<\/p>\n

Other<\/span><\/p>\n

<\/p>\n

Total<\/span><\/p>\n

<\/p>\n

Flexibles<\/span><\/p>\n

<\/p>\n

Rigid
Packaging<\/span><\/p>\n

<\/p>\n

Other<\/span><\/p>\n

<\/p>\n

Total<\/span><\/p>\n

Net income attributable to Amcor<\/span><\/p>\n

<\/p>\n

868<\/span><\/p>\n

<\/p>\n

473<\/span><\/p>\n

Net income attributable to non-
controlling interests<\/span><\/p>\n

<\/p>\n

6<\/span><\/p>\n

<\/p>\n

6<\/span><\/p>\n

Tax expense<\/span><\/p>\n

<\/p>\n

125<\/span><\/p>\n

<\/p>\n

107<\/span><\/p>\n

Interest expense, net<\/span><\/p>\n

<\/p>\n

189<\/span><\/p>\n

<\/p>\n

232<\/span><\/p>\n

EBIT<\/span><\/p>\n

<\/p>\n

1,075<\/span><\/p>\n

<\/p>\n

163<\/span><\/p>\n

<\/p>\n

(50)<\/span><\/p>\n

<\/p>\n

1,188<\/span><\/p>\n

<\/p>\n

796<\/span><\/p>\n

<\/p>\n

112<\/span><\/p>\n

<\/p>\n

(90)<\/span><\/p>\n

<\/p>\n

818<\/span><\/p>\n

Impact of highly inflationary
accounting<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

<\/p>\n

19<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

<\/p>\n

19<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

<\/p>\n

55<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

<\/p>\n

55<\/span><\/p>\n

Restructuring and other related
activities, net(1)<\/span><\/p>\n

<\/p>\n

(162)<\/span><\/p>\n

<\/p>\n

6<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

<\/p>\n

(156)<\/span><\/p>\n

<\/p>\n

68<\/span><\/p>\n

<\/p>\n

14<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

<\/p>\n

82<\/span><\/p>\n

CEO transition costs<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

<\/p>\n

8<\/span><\/p>\n

<\/p>\n

8<\/span><\/p>\n

Other<\/span><\/p>\n

<\/p>\n

14<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

<\/p>\n

(12)<\/span><\/p>\n

<\/p>\n

2<\/span><\/p>\n

<\/p>\n

5<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

<\/p>\n

12<\/span><\/p>\n

<\/p>\n

17<\/span><\/p>\n

Amortization of acquired intangibles(2)<\/span><\/p>\n

<\/p>\n

116<\/span><\/p>\n

<\/p>\n

4<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

<\/p>\n

120<\/span><\/p>\n

<\/p>\n

123<\/span><\/p>\n

<\/p>\n

3<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

<\/p>\n

126<\/span><\/p>\n

Adjusted EBIT<\/span><\/p>\n

<\/p>\n

1,043<\/span><\/p>\n

<\/p>\n

192<\/span><\/p>\n

<\/p>\n

(62)<\/span><\/p>\n

<\/p>\n

1,173<\/span><\/p>\n

<\/p>\n

992<\/span><\/p>\n

<\/p>\n

184<\/span><\/p>\n

<\/p>\n

(70)<\/span><\/p>\n

<\/p>\n

1,106<\/span><\/p>\n

Adjusted EBIT \/ sales %<\/span><\/p>\n

<\/p>\n

12.4\u00a0%<\/span><\/p>\n

<\/p>\n

7.3\u00a0%<\/span><\/p>\n

<\/p>\n

10.6\u00a0%<\/span><\/p>\n

<\/p>\n

13.0\u00a0%<\/span><\/p>\n

<\/p>\n

7.5\u00a0%<\/span><\/p>\n

<\/p>\n

10.9\u00a0%<\/span><\/p>\n


Reconciliation of adjusted growth to comparable constant currency growth<\/span><\/p>\n

% growth – Adjusted EBIT<\/span><\/p>\n

<\/p>\n

(5)<\/span><\/p>\n

<\/p>\n

(4)<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

<\/p>\n

(6)<\/span><\/p>\n

% items affecting comparability(3)<\/span><\/p>\n

<\/p>\n

5<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

<\/p>\n

4<\/span><\/p>\n

% currency impact<\/span><\/p>\n

<\/p>\n

(2)<\/span><\/p>\n

<\/p>\n

(2)<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

<\/p>\n

(1)<\/span><\/p>\n

% comparable constant currency<\/span><\/p>\n

<\/p>\n

(2)<\/span><\/p>\n

<\/p>\n

(6)<\/span><\/p>\n

<\/p>\n

\u2014<\/span><\/p>\n

<\/p>\n

(3)<\/span><\/p>\n

<\/p>\n

(1) Includes incremental costs incurred in connection with the Russia-Ukraine conflict in fiscal year 2023.\u00a0<\/span><\/p>\n

(2) Amortization of acquired intangible assets from business combinations.\u00a0<\/span><\/p>\n

(3) Reflects the impact of disposed and ceased operations.\u00a0<\/span><\/p>\n<\/div>\n

\u00a0<\/p>\n

\u00a0<\/p>\n

\n

Reconciliation of net debt\u00a0<\/span><\/p>\n

($ million)<\/span><\/p>\n

<\/p>\n

June 30, 2023<\/span><\/p>\n

<\/p>\n

March 31, 2024<\/span><\/p>\n

Cash and cash equivalents<\/span><\/p>\n

<\/p>\n

(689)<\/span><\/p>\n

<\/p>\n

(457)<\/span><\/p>\n

Short-term debt<\/span><\/p>\n

<\/p>\n

80<\/span><\/p>\n

<\/p>\n

119<\/span><\/p>\n

Current portion of long-term debt<\/span><\/p>\n

<\/p>\n

13<\/span><\/p>\n

<\/p>\n

12<\/span><\/p>\n

Long-term debt, less current portion<\/span><\/p>\n

<\/p>\n

6,653<\/span><\/p>\n

<\/p>\n

7,055<\/span><\/p>\n

Net debt<\/span><\/p>\n

<\/p>\n

6,057<\/span><\/p>\n

<\/p>\n

6,729<\/span><\/p>\n<\/div>\n

\u00a0<\/p>\n

\u00a0<\/p>\n

\u00a0<\/p>","protected":false},"excerpt":{"rendered":"

March 2024 quarter:GAAP diluted EPS of 12.9 cps; GAAP n […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[5,7],"tags":[],"class_list":["post-492","post","type-post","status-publish","format-standard","hentry","category-cision-pr-newswire","category-cision-pr-newswire-en"],"_links":{"self":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/posts\/492","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=492"}],"version-history":[{"count":0,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/posts\/492\/revisions"}],"wp:attachment":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=492"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=492"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=492"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}