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The Company
Amcor plc (ARBN 630 385 278) is a public limited company incorporated under the Laws of the Bailiwick of Jersey. Our history dates back more than 150 years, with origins in both Australia and the United States of America. Today, we are the global leader in developing and producing responsible primary consumer packaging and dispensing solutions across a variety of materials for nutrition, health, beauty and wellness categories. Our global product innovation and sustainability expertise enables us to solve packaging challenges around the world every day, producing a range of packaging and dispensing solutions that are more sustainable, functional and appealing for our customers and their consumers. We are guided by our purpose of elevating customers, shaping lives and protecting the future.
Berry Global Group, Inc. Merger
On April 30, 2025, we completed our merger ("Merger") with Berry Global Group, Inc. ("Berry"), a global manufacturer of rigid and flexible packaging products pursuant to the Agreement and Plan of Merger (the “Merger Agreement”) between Amcor, Aurora Spirit, Inc., a Delaware corporation and wholly owned subsidiary of the Company, and Berry, dated November 19, 2024. Under the terms of the Merger Agreement, Berry shareholders received 7.25 Amcor ordinary shares for each share of Berry common stock issued and outstanding. Upon completion of the transaction, Berry shares were delisted from the New York Stock Exchange.
Change of Fiscal Year
Historically, we have reported on a fiscal year basis starting July 1 and ending June 30. On May 1, 2026, our Board of Directors acted to change our fiscal year end to a year beginning on January 1 and ending December 31. We plan to report our financial results for the six-month transition period of July 1, 2026 through December 31, 2026, on a Transition Report on Form 10-K/T and to thereafter file an Annual Report on Form 10-K beginning with the first full calendar fiscal year ending on December 31, 2027. Our fiscal quarters will remain calendar quarters. Prior to filing our transition report, we will file a Quarterly Report on Form 10-Q for the quarter ending September 30, 2026.
In this Form 10-K, the fiscal years ended on June 30, 2026, 2025 and 2024 are referred to as "fiscal year 2026", "fiscal year 2025" and "fiscal year 2024", respectively.
Business Strategy
Amcor is the global leader in primary consumer packaging and dispensing solutions for nutrition, health, beauty and wellness categories. We have leading positions in large, resilient and growing end markets where we have significant room for growth via disciplined organic growth and long-term strategic mergers and acquisitions. We aim to drive value through orienting our core portfolio toward faster-growing, higher-margin categories and leveraging our competitive advantages which includes global scale and breadth, innovation, material science, technical and innovation capabilities, and leadership.
We believe there will always be a role for the primary packaging solutions we produce to preserve food, beverages, and healthcare products, protect consumers, and promote brands. Behind every one of our products stands a unique combination of technical know-how, business experience, and innovation expertise. We embrace a growth-oriented mindset, working closely with our customers to identify feasible, high-performance, responsible packaging solutions based on their unique needs. Where solutions do not currently exist, we work to innovate new ones. We believe we are uniquely positioned to deliver exceptional value to our customers by leveraging our global scale and innovation and sustainability capabilities to offer a broad range of differentiated consumer packaging and dispensing solutions using a variety of materials including paper, aluminum, polymer resins, recycled, and bio-based materials. We empower our teams with the tools, processes, and skills needed to operationalize growth, accelerate volume expansion, and sustain profitability.
Innovation is central to Amcor’s success and in fiscal year 2026 we spent approximately $170 million on research and development ("R&D"), not including ongoing investments in continuous improvements. We are highly regarded for our innovation capabilities and have over 7,000 patents, registered designs and trademarks, as well as a global network of Innovation Centers focused on bringing advanced packaging technologies and more sustainable material science to our markets
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around the world. We solve packaging challenges by developing differentiated products, services, and processes to protect our customers' products and fulfill the needs of the consumers who rely on them. Drawing on our unrivaled heritage in design, science, and manufacturing, our approximately 1,500 R&D professionals and engineers are constantly innovating across new materials, formats, functions, and technologies to provide products with superior clarity, protection, design versatility, consumer safety, convenience, cost efficiency, barrier properties and environmental performance.
Sustainability is also comprehensively embedded across our business, from the investments we are making in packaging innovation and design, to the work we undertake within our own operations and with our upstream and downstream partners to develop a more responsible packaging value chain. For years, Amcor has been an industry leader in driving progress toward a circular economy for packaging. In January 2018, we became the world’s first packaging company to pledge via our global commitment that all our packaging would be designed to be recyclable, compostable, or reusable by 2025, and also committed to using 10% post-consumer recycled ("PCR") materials in our packaging. We announced the outcome of this journey in our 2025 Sustainability Report and building on this progress, committed to the next phase of our journey, setting 2030 targets for recycled content. We know that our environmental footprint also extends beyond the products we create and we strive to reduce the environmental impacts of our operations. For more than a decade, we have implemented programs focused on improving how we manage energy, greenhouse gas (GHG) emissions, water, and waste in our manufacturing locations. We established ambitious near-term and net zero science-based targets to reduce GHG emissions and achieve net zero emissions by 2050 which were validated by the Science Based Targets initiative ("SBTi") in fiscal year 2026. Our decarbonization roadmap outlines how we will achieve these targets by focusing on five key GHG emission levers: renewable electricity, supply chain footprint reduction, recycled materials, product redesign, and operational efficiency.
We believe this strategy will help us continue to deliver sustainable value aligned with Amcor’s "Shareholder Value Creation Model". Long-term value creation has been strong and consistent and has reflected strong cash flow generation combined with disciplined redeployment into a combination of dividends, organic growth in the base business, and using free cash flow to pursue targeted acquisitions and/or returning cash to shareholders via share buybacks, while maintaining an investment-grade credit rating.
When full synergies are achieved, the strategic Merger with Berry is expected to further increase cash generation, enabling increased investment in organic growth and targeted acquisitions, enabling us to sustain our track record of strong and consistent long-term value creation.
Segment Information
Accounting Standards Codification ("ASC") 280, "Segment Reporting," establishes the standards for reporting information about segments in financial statements. In applying the criteria set forth in ASC 280, we have determined we have two reportable segments, Global Flexible Packaging Solutions and Global Rigid Packaging Solutions. The reportable segments produce differentiated solutions, which are sold to customers participating in a range of attractive end markets throughout Europe, North America, Latin America, and the Asia Pacific regions. Refer to Note 21, "Segments," of the notes to consolidated financial statements for financial information about reportable segments.
Global Flexible Packaging Solutions Segment
Our Global Flexible Packaging Solutions segment develops and supplies flexible packaging globally. With approximately 36,000 employees at approximately 190 manufacturing and support facilities in 33 countries as of June 30, 2026, the Global Flexible Packaging Solutions segment is one of the world's largest suppliers of polymer resin, aluminum, and fiber based flexible packaging solutions. In fiscal year 2026, the Global Flexible Packaging Solutions segment accounted for approximately 55% of consolidated net sales.
Global Rigid Packaging Solutions Segment
Our Global Rigid Packaging Solutions segment manufactures rigid packaging containers, closures, dispensing and pharma delivery devices, and related products globally. As of June 30, 2026, the Global Rigid Packaging Solutions segment employed approximately 38,000 employees at approximately 210 manufacturing and support facilities in 33 countries. In fiscal year 2026, the Global Rigid Packaging Solutions segment accounted for approximately 45% of consolidated net sales.
Marketing, Distribution, and Competition
Our sales are made through a variety of distribution channels, but predominantly through our direct sales force. Sales offices and plants are located primarily throughout Europe, North America, Latin America, and the Asia-Pacific regions to
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provide prompt and economical service to thousands of customers. Our technically trained sales force is supported by product development engineers, design technicians, field service technicians, and customer service teams. Our scale enables us to dedicate certain sales and marketing efforts to particular products or customers, when applicable, which supports us in developing expertise that we believe is valued by our customers.
We did not have sales to a single customer that exceeded 10% of consolidated net sales in the last three fiscal years.
The major markets in which we sell our products historically have been, and continue to be, highly competitive. Areas of competition include service, sustainability, innovation, quality, and price. We consider ourselves to be a significant participant in the markets in which we operate. Competitors include 3M, AptarGroup, Inc., Avery Dennison Corporation, Ball Corporation, Crown Holdings, Inc., Graphic Packaging International, Inc., Huhtamaki Oyj, International Paper Company, O-I Glass, Inc., Orora Limited, Packaging Corporation of America, Silgan Holdings Inc., Smurfit WestRock, and Sonoco Products Company, and a variety of privately held companies.
Backlog
Working capital fluctuates throughout the year in relation to business volume and other marketplace conditions. We maintain inventory levels that provide a reasonable balance between obtaining raw materials at favorable prices and maintaining adequate inventory levels to enable us to fulfill our commitment to promptly fill customer orders. Manufacturing backlogs are not a significant factor in the markets in which we operate.
Raw Materials
Polymer resins and films, paper, paperboard, inks, solvents, adhesives, and aluminum constitute the major raw materials we use. These are purchased from a variety of global industry sources, and we are not significantly dependent on any one supplier for our raw materials. While we have experienced industry-wide shortages of certain raw materials in the past, including following the Middle East conflict that began in February 2026, we have been able to manage supply disruptions by working closely with our suppliers and customers. Supply shortages, along with other factors, can lead and have in the past led to increased raw material price volatility. Increases in the price of raw materials are generally able to be passed on to customers including through contractual price mechanisms over time. We manage the risks associated with our supply chain and have generally been able to maintain adequate raw materials through relationship management, inventory management, and evaluation of alternative sources when practical. For more information, see "Item 1A. - Raw Materials - Price fluctuations or shortages in the availability of raw materials, energy, and other inputs could adversely affect our business."
Intellectual Property
We are the owner or licensee of more than 5,000 United States and other country patents and patent applications that relate to our products, manufacturing processes, and equipment. We also have a number of trademarks and trademark registrations in the United States and in other countries. In addition, we keep certain technology and processes as trade secrets. Our patents, licenses, and trademarks collectively provide a competitive advantage. However, the loss of any single patent or license alone would not have a material adverse effect on our results of operations as a whole or those of our reportable segments. Patents, patent applications, and license agreements will expire or terminate over time by operation of law, in accordance with their terms, or otherwise.
Governmental Laws and Regulations
Our operations and the real property we own, or lease, are subject to broad governmental laws and regulations, including environmental laws and regulations by multiple jurisdictions. These laws and regulations pertain to employee health and safety, the discharge of certain materials into the environment, handling and disposition of waste, cleanup of contaminated soil and ground water, other rules to control pollution and manage natural resources, and other government regulations. We believe that we are in substantial compliance with applicable health and safety laws, environmental laws and regulations based on the execution of our Environmental, Health, and Safety Management System and regular audits of those processes and systems. However, we cannot predict with certainty that we will not, in the future, incur liability with respect to noncompliance with health and safety laws, environmental laws and regulations due to contamination of sites formerly or currently owned or operated by us (including contamination caused by prior owners and operators of such sites) or the off-site disposal of regulated materials, or other broad government regulations which could be significant. In addition, these laws and regulations are constantly changing, and we cannot always anticipate these changes. Refer to Note 20, "Contingencies and Legal Proceedings," of the notes to consolidated financial statements for information about legal proceedings. For a more detailed description of the various laws and regulations that affect our business and related risks, see "Item 1A. - Legal and Compliance Risks."
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Seasonal Factors
Our business and operations of each of the reportable segments are subject to moderate seasonality with demand usually increasing towards the middle of the calendar year due to increased demand for beverage and food products in certain markets. Historically, cash flow from operations has been lower in the six months ending December 31, and higher in the six months ending June 30, due to moderate seasonality, working capital requirements, and the timing of certain cash payments made in the six months ending December 31, including incentive compensation.
Research and Development
Refer to section "Business Strategy" within "Item 1. - Business" of this Annual Report on Form 10-K, and to Note 2, "Significant Accounting Policies," of the notes to consolidated financial statements, for further information about our research and development activities, expenditures, and policies.
Human Capital Management
Overview
At Amcor, effective human capital management is foundational to our ability to deliver long-term value. As we continue to integrate and transform our business following the combination with Berry, we remain focused on building a purpose-driven, high-performing, and inclusive culture that supports innovation, operational excellence, and sustainable growth.
Our people are central to our success. We believe we are winning for our people when they feel safe, engaged, and supported in their development. Our human capital strategy emphasizes leadership development, succession planning, employee engagement, and inclusion as key drivers of a strong and resilient workforce. These efforts are designed to ensure alignment with Amcor’s broader strategic priorities and our company purpose: Together, we elevate customers, shape lives, and protect the future.
As of June 30, 2026, Amcor employed approximately 75,000 employees globally, including part-time and temporary workers. The regional breakdown is approximately 39% in North America, 34% in Europe, Middle East, and Africa, 12% in Latin America, and 15% in the Asia Pacific region. Approximately 37% of our workforce is covered by collective bargaining agreements. As of June 30, 2026, about 2% of employees were working under expired contracts, and approximately 19% were covered under agreements due to expire within one year.
Health and Safety
Safety is a core value at Amcor, as well as an integral component in our global Environment, Health and Safety ("EHS") programs. We take care of ourselves and each other, so everyone returns home safely every day. We champion a safe and healthy workplace, establish key accountabilities at all levels of the organization, and aspire to achieve a culture of care and an injury-free Amcor. All our facilities are subject to global EHS standards which serve as blueprints for a safe and healthy workplace. We also have established policies, procedures, and training intended to minimize risks to people, property, and reputation. We track health and safety metrics to identify issues and trends and provide our Board of Directors with monthly reports on safety performance and compliance with our global EHS standards.
Talent Management and Development
At Amcor, we are committed to attracting, developing, and retaining top talent as a key enabler of our business strategy. We remain focused on building a scalable Human Resources ("HR") strategy that enables our people and business to grow together. Our HR strategy is anchored in our Employer Value Proposition, "Possibility unpacked. For you. For the world." This reflects our commitment to creating meaningful opportunities for our people to learn, develop, and thrive while advancing Amcor's long-term growth and value creation objectives.
Following the merger with Berry, we continue to align elements of our organizational structures, leadership teams, and people practices to support consistency, fairness, and an enhanced employee experience across our global organization.
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We also maintain a structured approach to talent reviews and succession planning across the organization, using common talent assessment practices and regular talent review discussions to identify, develop, and prepare leaders for future opportunities. These processes support leadership continuity while informing targeted development investments across the business.
We offer a range of executive development, leadership training, and awareness programs designed to support career growth across all levels of the organization. Examples of our global leadership programs include the Senior Leader Development Program which builds strategic management capabilities and inclusive leadership skills among a broader leadership population. These initiatives are complemented by mentoring and tailored learning experiences that support succession planning and strengthen organizational capability.
In addition to leadership development, we maintain a structured performance management process to ensure employees have clear goals aligned with business priorities. Through formal reviews, regular coaching, and feedback, we empower employees to understand their contributions and continuously grow in their roles. These processes are designed to foster a high-performance culture across the company.
Culture and Employee Experience
Our Culture Framework serves as the foundation for how we work together through a shared purpose, common values, and consistent behaviors:
•Purpose: Together, we elevate customers, shape lives, and protect the future.
•Values: Safety, Customers, Winning, Agility, Sustainability.
•Behaviors: I do the right thing, I champion customers, I dream big, I make things happen, I play for team Amcor.
By reinforcing a common culture across the organization, the framework supports collaboration, performance, and a shared understanding of expectations and ways of working across all levels and locations.
To reinforce our culture through everyday actions, we also recently strengthened our employee recognition approach through the Amcor Diamond Award, our global recognition program celebrating employees who exemplify our Behaviors and make meaningful contributions across the organization. Together with our Kudos recognition cards, these initiatives help reinforce our culture, celebrate employee contributions, and strengthen engagement across our global workforce.
We are also committed to creating an exceptional employee experience by continuing to advance our talent development, engagement, and inclusion efforts as integral elements of our Culture Framework. These efforts reinforce a consistent and inspiring environment where employees feel valued, supported, and empowered to contribute, grow, and thrive.
A key element of this approach is a dedicated program designed to equip our Plant Leadership teams and People Managers with the mindset, tools, and behaviors needed to lead effectively at every stage of the employee lifecycle from recruitment and onboarding to performance management and development. By fostering high-impact leadership on the ground, we are strengthening engagement, enabling growth, and driving performance across the organization. This program plays a pivotal role in supporting our business transformation and talent goals while reinforcing consistent, values-driven leadership across diverse teams and geographies.
Engagement
We prioritize employee engagement as a driver of performance and cultural alignment. We run global employee surveys, supplemented by regular pulse checks, to gather insights on topics including leadership, inclusion, ways of working, and our culture. We continue to reinforce a unified "One Amcor" culture through consistent leadership communications and employee engagement initiatives designed to support alignment across the combined organization.
Our engagement mechanisms also include listening sessions, town halls, and Employee Resource Groups, which help to surface employee feedback and foster a more connected workforce. The results of these feedback channels inform leadership actions and support continuous improvement efforts at both global and local levels.
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Ethics and Integrity
Integrity is a foundational behavior at Amcor, reflected in our expectation that employees and directors always act with objectivity, fairness, and transparency. Our behavior "I do the right thing" underpins our commitment to ethical conduct and responsible business practices.
Every Amcor employee signs our Code of Business Conduct and Ethics which outlines our principles for ethical decision-making. This code is reinforced through targeted training programs delivered across all operating regions and aligned with the legal requirements of each jurisdiction in which we operate.
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Information about our Executive Officers
The following sets forth the name, age, and business experience for at least the last five years of our executive officers. Unless otherwise indicated, positions shown are with Amcor.
Name (Age) Positions Held Period the Position was Held
Peter Konieczny (61) Chief Executive Officer 2024 to present
Interim Chief Executive Officer 2024
Chief Commercial Officer 2021 to 2024
President, Amcor Flexibles Europe, Middle East and Africa 2015 to 2021
Stephen R. Scherger (62) Executive VP, Chief Financial Officer 2025 to present
Executive VP and Chief Financial Officer of Graphic Packaging Holding Company 2015 to 2025
Susana Suarez Gonzalez (57) Executive VP and Chief Human Resources Officer 2022 to present
Executive VP, Chief Human Resources and Diversity & Inclusion Officer, International Flavors and Fragrances 2016 to 2022
Deborah Rasin (59) Executive VP and General Counsel 2022 to present
Senior VP, Chief Legal Officer and Secretary, Hill-Rom Holdings 2016 to 2022
Jean-Marc Galvez (59) Division President, Global Rigid Packaging Solutions 2025 to present
President of Berry’s Consumer Packaging — International Division 2019 to 2025
Ryan D. Yost (50) Division President, Global Flexible Packaging Solutions 2026 to present
President of Avery Dennison Materials Group 2024 to 2026
VP and General Manager of Vestcom 2023 to 2024
VP and General Manager of Avery Dennison Identification Solutions 2021 to 2024
VP and General Manager of Avery Dennison Printer Solutions 2019 to 2021
Ian Wilson (68) Executive VP, Strategy and Development 2000 to present
Available Information
We are a large accelerated filer (as defined in the Securities Exchange Act of 1934, as amended (the “Exchange Act”) Rule 12b-2) and we are also an electronic filer. Electronically filed reports (Forms 4, 8-K, 10-K, 10-Q, S-3, S-8, etc.) can be accessed at the SEC's website (sec.gov). We make available free of charge (other than an investor’s own Internet access charges) through the Investor Relations section of our website (amcor.com/investors), under "Financial Information" and then "SEC Filings," our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and if applicable, amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Exchange Act as soon as reasonably practicable after we electronically file such material with, or furnish it to, the SEC. We are not including the information contained on our website as part of, or incorporating it by reference into, this Annual Report on Form 10-K.
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