Verallia: stock in demand after trading update
(CercleFinance.com) - The Verallia share has jumped over 10% the day after the glass packaging manufacturer announced adjusted EBITDA of 474 million euros for the first nine months of 2020, in line with last year's level, with a margin of 24.
3%.
9m revenue declined 1% to E1,956 million, but with growth of 2.3% at constant exchange rates and consolidation scope, with organic growth even reaching 8.9% in Q3 alone.
Thanks to this better-than-expected quarter, Verallia has raised its FY 2020 targets, anticipating just a slight fall in sales volumes than in 2019 and targeting adjusted EBITDA of around 590 million euros.
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3%.
9m revenue declined 1% to E1,956 million, but with growth of 2.3% at constant exchange rates and consolidation scope, with organic growth even reaching 8.9% in Q3 alone.
Thanks to this better-than-expected quarter, Verallia has raised its FY 2020 targets, anticipating just a slight fall in sales volumes than in 2019 and targeting adjusted EBITDA of around 590 million euros.
Copyright (c) 2020 CercleFinance.com. All rights reserved.