Verallia: adjusted EBITDA down 18% in Q3
(CercleFinance.com) - Verallia reports adjusted EBITDA of E210m for Q3 2024, compared with E256m in Q3 2023, i.
e. a margin that fell from 27.5% to 24.1%.
Sales for the glass packaging manufacturer fell by 6.6% to E870.6m. Sales fell by 4.7% LFL (-9.7% excluding Argentina), with sales prices down across all segments.
LFL volumes were higher than last year in most market segments, notably beer and food jars. However, business recovery remains very gradual in Europe, it adds.
Verallia continues to target adjusted EBITDA for 2024 at around the 2022 level, despite a persistently difficult market environment, and aims to start 2025 in the best possible conditions, with inventories and costs under control.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
e. a margin that fell from 27.5% to 24.1%.
Sales for the glass packaging manufacturer fell by 6.6% to E870.6m. Sales fell by 4.7% LFL (-9.7% excluding Argentina), with sales prices down across all segments.
LFL volumes were higher than last year in most market segments, notably beer and food jars. However, business recovery remains very gradual in Europe, it adds.
Verallia continues to target adjusted EBITDA for 2024 at around the 2022 level, despite a persistently difficult market environment, and aims to start 2025 in the best possible conditions, with inventories and costs under control.
Copyright (c) 2024 CercleFinance.com. All rights reserved.