Verallia reports adjusted EBITDA of 210 million euros for the third quarter of 2024, compared with 256 million for the same period in 2023, representing a year-on-year decline in margin from 27.5% to 24.1%.

Sales for the glass packaging manufacturer fell by 6.6% to 870.6 million euros. On a like-for-like basis, sales fell by 4.7% (-9.7% excluding Argentina), with sales prices down across all segments.

'Like-for-like volumes were higher than last year in most market segments, notably beer and food jars. However, business recovery remains very gradual in Europe', it adds.

Verallia continues to target adjusted EBITDA for 2024 at around the 2022 level, despite a persistently difficult market environment, and aims to 'start 2025 in the best possible conditions, with inventories and costs under control'.

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