10-KPeriod: FY2025

Amcor plc Annual Report, Year Ended Jun 30, 2025

Filed August 15, 2025For Securities:AMCRAMCCF

Summary

Amcor plc's fiscal year 2025 was marked by a transformative merger with Berry Global Group, Inc., completed on April 30, 2025. This strategic combination has significantly expanded Amcor's global footprint and product offerings in the consumer packaging sector. Financially, the company reported a 10% increase in net sales to $15.0 billion, largely driven by the inclusion of Berry's operations. However, net income attributable to Amcor plc decreased by 30% to $511 million, primarily due to substantial restructuring, transaction, and integration expenses related to the merger, alongside higher amortization of acquired intangible assets and interest expenses. Despite the increased debt from the acquisition, Amcor maintains investment-grade credit ratings and has significant undrawn credit facilities, indicating a stable liquidity position. The integration of Berry is expected to yield significant synergies, which will be crucial for long-term value creation and debt management.

Financial Highlights

53 data points
Beta

Revenue

$15.01B

18.9% Gross Margin

Net Income

$511.00M

3.4% Net Margin

EPS (Diluted)

$1.60

Total Assets

$37.07B

Cash & Equivalents

$827.00M

Free Cash Flow

$1.39B

Financial Statements
Beta
Revenue$15.01B
Cost of Revenue$12.18B
Gross Profit$2.83B
R&D Expenses$120.00M
SG&A Expenses$1.21B
Operating Income$1.01B
Interest Expense$396.00M
Net Income$511.00M
EPS (Basic)$1.60
EPS (Diluted)$1.60
Shares Outstanding (Basic)318.40M
Shares Outstanding (Diluted)318.60M

Key Highlights

  • 1Amcor completed its significant merger with Berry Global Group, Inc. on April 30, 2025, creating a larger, more diversified packaging company.
  • 2Net sales for fiscal year 2025 increased by 10% to $15.0 billion, primarily due to the inclusion of Berry's operations.
  • 3Net income attributable to Amcor plc decreased by 30% to $511 million, impacted by $307 million in restructuring, transaction, and integration expenses.
  • 4The company's total debt increased significantly, reaching $14.1 billion at year-end, largely due to the Berry acquisition.
  • 5Amcor's strategy remains focused on customer-centricity, sustainability, and innovation, aiming to drive growth and value creation.
  • 6The company anticipates realizing approximately $530 million in pre-tax synergies from the Berry merger by the end of fiscal year 2028.
  • 7Despite increased debt, Amcor maintains investment-grade credit ratings and has ample liquidity through its credit facilities.

Frequently Asked Questions

The merger with Berry Global Group, completed on April 30, 2025, led to a 10% increase in Amcor's net sales to $15.0 billion. However, net income attributable to Amcor plc decreased by 30% to $511 million. This reduction was primarily driven by $307 million in restructuring, transaction, and integration expenses, along with increased amortization of acquired intangible assets and higher interest expenses associated with the acquisition financing.

The Berry Global Group merger significantly increased Amcor's debt level, with total debt reaching $14.1 billion at June 30, 2025. This was due to assumed debt and financing for the acquisition. Despite the higher debt load, Amcor maintains investment-grade credit ratings and has substantial liquidity, with $2.05 billion in undrawn capacity under its $3.75 billion revolving senior bank debt facility.

Amcor's core strategy is centered on customers, sustainability, and innovation. The merger with Berry Global Group is expected to enhance these pillars by creating a global leader with greater scale and a more comprehensive product portfolio. The company targets approximately $530 million in pre-tax synergies from the merger by fiscal year 2028, driven by procurement, supply chain efficiencies, and administrative savings. These synergies are expected to improve cash generation, support further investment in growth, and drive enhanced shareholder returns.

Key risks for Amcor following the merger include the successful integration of Berry's business and personnel, managing substantial merger-related costs, and realizing the anticipated synergies and benefits from the transaction. Additionally, the increased indebtedness poses financial risks, and the company must navigate ongoing challenges such as raw material price volatility, global economic conditions, and evolving ESG regulations.