Verallia reported first-quarter 2026 adjusted EBITDA of 159 million euros, up 8%, representing a margin of 19.9% compared to 18% a year earlier. Revenue for the period reached 798 million euros, down 2.4% (or -1.2% on a constant exchange rate and scope basis).
The glass packaging manufacturer noted that the decline in revenue reflects lower selling prices, while volumes remained stable, as growth in most regions offset the anticipated slowdown in Germany.
"The improvement in profitability in the first quarter of 2026 marks a first step in the recovery of Verallia's performance," commented CEO Patrice Lucas, adding that the company is focusing primarily on internal levers.
According to Verallia, the Performance Improvement Plan (PIP) once again delivered solid results, generating a net reduction in cash production costs of 2.1% (against a group target of 2%), or 12 million euros.
As of late March 2026, the net debt ratio stood at 2.7 times the adjusted EBITDA for the last 12 months, unchanged from the end of December 2025 and up from 2.3 times at the end of March 2025. The group maintains a robust liquidity position of 856 million euros.
While remaining vigilant amid heightened uncertainty surrounding the conflict in the Middle East, Verallia confirmed its 2026 outlook, specifically targeting adjusted EBITDA of approximately 700 million euros and free cash flow of around 220 million euros.
Verallia is the world's third largest producer and the leading European producer of glass packaging for beverages and food products.
In 2025, the group produced nearly 18 billion glass bottles and jars.
At the end of 2025, the group has 35 glass production plants, 6 decoration plants and 19 cullet (used glass) treatment centres worldwide.
Net sales are distributed geographically as follows: France (24.1%), Italy (23.6%), Spain (15.8%), Germany (11.6%), Brazil (6.4%) and other (18.5%).
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