Verallia : Présentation de résultats du troisième trimestre 2024

Q3 2024 results

23 October 2024

Summary

01	02	03	04
Introduction	Key	Q3 2024	FY 2024
	highlights	financial results	guidance

Q3 2024 RESULTS

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INTRODUCTION

Patrice LUCAS

CEO

Q3 2024 RESULTS

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A global leader in glass packaging

DIVERSIFIED AND BALANCED END-MARKETS

2023 Glass packaging(1) sales split by end-market(2)

	Food
	17%		Still wine
		31%
Soft drinks	11%	2023
Beer	12%	12%
		16%
		Sparkling wine

Spirits

countries 12

decoration 5 plants

glass 35 plants

customers

~10,000

~11,000 employees

16+ bottles/jars

billion p.a.

19	cullet
recycling

N°1 N°2 N°3

64

centers

in Europe(3)	in Latin America(4)	Globally
90% of 2023 sales	10% of 2023 sales

furnaces

Note: Footprint as of July 2024 post-acquisition of Vidrala's glass operations in Italy.

Sources:	Companies public information, management estimates and Advancy (IPO related study).
Notes:	(1) For bottles and jars only (98% of total Verallia sales). (2) The consolidated financial statements are presented in millions of euros, with amounts rounded up or down to the nearest million. So rounding
	differences could be present in some graphics or tables, mainly if presented in percentage without digits after the comma. (3) Based on 2022 sales; "Europe" using each company's definition/management
	estimates. (4) Based on 2022 volumes in Argentina, Brazil and Chile.

Q3 2024 RESULTS

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KEY HIGHLIGHTS

Patrice LUCAS

CEO

Q3 2024 RESULTS

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Verallia Air Range:

Moving forward with lightweighting

BORDELAISE

AIR 300G

8,8 MILLION UNITS SOLD

Industry recognition

• Innovation award at Vinitech (FR)
• Innovation award by Wine Industry Expo (US)
• Finalist at Pentawards- Sustainable Packaging - (WW)
• Finalist at Environmental Packaging Award (UK)
• Finalist at Grocers Gold Awards (UK)

AIR JARS

Recently launched

• 7 jars from 37 cl to 265 cl
• Offering end consumers the best packaging in terms of sustainability and modern design
• Reducing weight and CO2 emissions from 10 to 27% depending on the size

Q3 2024 RESULTS

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World premiere: inauguration of the first 100% electric furnace in Cognac

Walking the talk, we align with the Group's ambitious decarbonisation strategy roadmap

Major step forward for the food glass packaging industry

Optimizing energy consumption at our sites and developing low-carbon furnaces.

-60% CO2 emissions confirmed

NEXT STEP : OUR FIRST HYBRID

FURNACE IN ZARAGOZA

Q3 2024 RESULTS

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Soft market environment and cautious near-term outlook

• Continued soft consumption trends in Europe (poor weather and on-trade trends)
• Destocking coming to an end in the faster moving segments but still under way in the more premium, export-oriented segments
• Still cautious customer trends
• Adverse geopolitical environment (eg trade tensions)
• Temporary and permanent capacity adaptation measures in the glass industry
• Good market momentum in LatAm
• • Soft current trading and cautious near-term outlook consistent with the low end of our July 2024 revised assumptions

Q3 2024 RESULTS

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Returning to organic volume growth in Q3 2024 while delivering solid profitability

Q3 2024

REVENUE

• -6.6%yoy to €871m
• -4.7% yoy organic growth

ADJUSTED EBITDA

• €210m, -14.3%vs. Q3 2023
• Margin at 24.1% vs. 27.5% in Q3 2023 (-336 bps)

NET DEBT

• Leverage:

2.3x LTM adj.

EBITDA

vs 1.9x end of

Jun. 24 and 1.2x

9M 2024

•

•

-14.3%yoy to €2,635m

-8.7% yoy organic growth

•

•

€641m, -29.9%vs. 9M 2023

Margin at 24.3% vs. 29.8% in 9M 2023 (-543 bps)

end of Dec. 23

Q3 2024 RESULTS

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Q3 2024 FINANCIAL RESULTS

Nathalie DELBREUVE

CFO

Q3 2024 RESULTS

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