France · Delayed Price · Currency is EUR Verallia Société Anonyme Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 saw revenue decline 2.4% year-over-year but adjusted EBITDA rose 8.3% with margin improvement, driven by productivity gains and a normalized price/cost spread. Industrial adaptation and restructuring are on track, with full-year guidance for EBITDA and cash flow reaffirmed.
Fiscal Year 2025
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Revenue and EBITDA declined in 2025 amid weak European demand and negative price/mix, but free cash flow doubled due to strict CapEx control. A 3% capacity reduction and restructuring plan are underway, with 2026 guidance for stable markets, €700 million EBITDA, and €220 million free cash flow.
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Q3 saw revenue and EBITDA declines year-over-year amid challenging market conditions, with volume growth offset by negative price/mix and spread. The company adjusted its 2025 outlook downward, remains focused on cost control, and continues to invest in decarbonization and strategic capacity.
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H1 saw volume recovery and strong cash generation despite revenue and EBITDA declines year-over-year. Profitability rebounded in Q2, and guidance for 2025 is maintained, with new capacity in Brazil and Italy and continued decarbonation efforts.
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Q1 2025 saw revenue decline 2.2% year-over-year and adjusted EBITDA fall 27.9%, mainly due to negative price/mix and energy cost inflation, despite positive volume growth. Guidance for 2025 EBITDA was lowered to EUR 800 million, but free cash flow target was raised above EUR 200 million.
Fiscal Year 2024
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2024 saw robust profitability despite an 11.5% revenue decline, with adjusted EBITDA margin above 24% and strong cost control. 2025 guidance targets stable EBITDA, doubled free cash flow, and continued cautious capacity management amid soft European demand and ongoing market uncertainties.
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Q3 2024 saw a return to organic volume growth, especially in Latin America, but revenue and EBITDA declined year-over-year due to price reductions and ongoing destocking in premium segments. Decarbonization initiatives and cost reductions supported margins, while leverage increased following acquisitions.
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Revenue and EBITDA declined sharply in H1 2024 due to lower volumes, negative price/mix, and prolonged destocking, but margins remained resilient. Guidance for 2024 was revised down, with a gradual recovery expected in 2025 as market conditions stabilize.