Verallia: cuts FY EBITDA target
(CercleFinance.com) - Due to a slower-than-anticipated recovery, Verallia has revised its adjusted EBITDA target for 2024, previously set at around E1bn, to around the 2022 figure of E866m.
While the upturn in demand was confirmed in Q2 in most of its markets, the glass packaging manufacturer expects H2 business to continue to grow at a slower pace than initially anticipated.
However, adding that the cost reduction trajectory remains fully in line with its expectations, Verallia states that it is determined to pursue its action plan to adapt capacities, keep inventories under control and reduce costs.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
While the upturn in demand was confirmed in Q2 in most of its markets, the glass packaging manufacturer expects H2 business to continue to grow at a slower pace than initially anticipated.
However, adding that the cost reduction trajectory remains fully in line with its expectations, Verallia states that it is determined to pursue its action plan to adapt capacities, keep inventories under control and reduce costs.
Copyright (c) 2024 CercleFinance.com. All rights reserved.