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What has to happen in Global Flexible Packaging Solutions

Model as of

This page changes Global Flexible Packaging Solutions inside the complete AMCR model. Every other vertical, corporate programme and valuation assumption stays in the selected portfolio case.

AMCR forward model
Horizon
Consolidated fair value $98.55 all other verticals held in this portfolio case
Final-quarter revenue $4.44B 55% of company revenue
Explicit segment contribution $11.19B EBITDA less segment capex, before corporate items

Year-one synergy capture $285M on the call, 10% ahead of plan, against a $650M three-year target. This case pays for the rest of that programme and a bit of volume without inventing a sixth end-market or a second acquisition. It does not assume the $280M growth-synergy pool is already revenue.

Global Flexible Packaging Solutions

Basis quarter$3.52B
Final quarter$4.44B
Implied CAGR+5%
Final revenue mix55%

Films, pouches and healthcare flexibles. $3,525M in the basis quarter, 55% of sales, +18% reported. About $297M acquired and $190M of raw-material pass-through. Comparable volumes about +1% on the call. No unit count, so sequential growth on the filed line.

Last four quarters
2026 Q1 $3.06B Reported
2026 Q2 $3.00B Reported
2026 Q3 $3.25B Reported
2026 Q4 $3.52B Reported
Flexible films and pouchesHealthcare flexible packagingBerry flexible operations
Sequential growth +1.0%/qtr decaying toward +0.5% Q4/Q3 was +8% on season and pass-through. 1% is volume plus leftover pass-through, not another Q4.
Global Flexible Packaging Solutions

Latest: $4.44B (2031Q4E)

Period Value
2025Q4 $2.99B
2026Q1 $3.06B
2026Q2 $3.00B
2026Q3 $3.25B
2026Q4 $3.52B
2027Q1E $3.58B
2027Q2E $3.63B
2027Q3E $3.68B
2027Q4E $3.73B
2028Q1E $3.77B
2028Q2E $3.82B
2028Q3E $3.87B
2028Q4E $3.91B
2029Q1E $3.96B
2029Q2E $4.00B
2029Q3E $4.04B
2029Q4E $4.09B
2030Q1E $4.13B
2030Q2E $4.18B
2030Q3E $4.22B
2030Q4E $4.26B
2031Q1E $4.31B
2031Q2E $4.35B
2031Q3E $4.40B
2031Q4E $4.44B

Assumptions & reasoning

  • Do not trend the +18% reported growth. Ten points of it is acquired sales; six is raw-material pass-through.
  • Adjusted EBIT $533M is 15.1% of sales. The 17.9% here is allocated company adj EBITDA $1,045M × 533/885 / $3,525M.
  • Latin America flexibles moved into Rigid in Q3 FY2026. History is as re-presented on the Q4 slides.
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