Subscribe Login
DE4CC0DE-5FC3-4494-BCBF-4D50B00366B5
Packaging And Design

Glass Packaging Firm Verallia Sees Revenues Up Across All Divisions

Glass packaging firm Verallia has posted a 7.0% increase in revenue in its full year 2019, to €2.59 billion, with the group's performance marking "an important milestone" in the company's history, according to chief executive Michel Giannuzzi.

The business saw adjusted EBITDA rise to €615 million, a 13.2% increase on the previous year, or 16.0% higher at constant exchange rates. EBITDA margin was 23.8% for the period.

All the group's divisions posted a positive performance last year, with its Southern and Western Europe segment seeing a 6.4% increase in reported sales, to €1.75 billion, on the back of both increased prices and growth in beer, spirits and sparkling wine units.

Northern and Eastern Europe, meanwhile, saw a 9.0% increase in reported sales, helped by a 'solid recovery' in Russia, while in Latin America, revenue was up 7.5%, although this was dampened by the depreciation of the region's currencies, particularly the Argentine peso.

Increased Profitability

"The Group's profitability has also increased significantly as the result of the implementation of its three main improvement drivers: volume growth, inflation spread management and the Performance Action Plan," said Giannuzzi.

"Verallia has proven once more its significant deleveraging capability derived from its strong cash generation."

Looking ahead to the coming year, the group has issued a positive outlook, "backed by the addition of new capacities in a growing market and confirms its medium‐term objectives announced at the time of the IPO", added Giannuzzi.

© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine.

Stay Connected With Our Weekly Newsletter

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our Terms & Conditions and Privacy Policy
Enjoy unlimited digital access for 30 days
Get exclusive access to the latest grocery retail & FMCG news, interviews with industry leading executives, and expert analysis on the trends shaping the sector today
Enjoy unlimited digital access for 30 days
Enjoy unlimited digital access for 30 days
Get exclusive access to the latest grocery retail & FMCG news, interviews with industry leading executives, and expert analysis on the trends shaping the sector today
Enjoy unlimited digital access for 30 days