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    Sam Cielo

    Research Analyst at Citigroup

    No publicly available information could be found confirming the existence or professional profile of Sam Cielo as an analyst at Citigroup or any other relevant financial institution. Despite targeted searches for a LinkedIn profile, professional biography, performance metrics, coverage universe, or credentials, no results match an individual by this name and role. As of now, there is no verifiable evidence to create an accurate professional summary for Sam Cielo at Citigroup.

    Sam Cielo's questions to Amcor (AMCR) leadership

    Sam Cielo's questions to Amcor (AMCR) leadership • Q1 2025

    Question

    An analyst from Citi asked about the increase in net debt leverage to 3.5x and sought an explanation for the working capital drag and the outlook for cash conversion.

    Answer

    CFO Michael Casamento stated that the 3.0x leverage level is the peak and was slightly inflated by a temporary FX rate spike (0.1x impact) and a deliberate build in raw material inventory to meet strong demand and mitigate supply chain risks. He reaffirmed the full-year free cash flow guidance of $900 million to $1 billion and expressed confidence that leverage would decline starting in Q2, ending the fiscal year at or below 3.0x.

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