Ann: Form 8K - 2Q24 Results, page-2

Amcor's long-term shareholder wealth creation formula was disrupted over the past 12 months by a confluence of a number of evils - loss of earnings from Russian business, declines in volumes due to sluggish consumer demand, rising input costs, higher cost of borrowings.

But I'm happy to be on the record as saying that I believe the storm is behind the company and that the investment thesis is back on track.

It will never be a stock that doubles over a normal investment time frame of, say, 3 to 5 years but, at ~13.5 P/E, it represents an undervalued equity in a market where undervaluation has become a rarity in recent months.

.