Following the devaluation of the Argentine peso by more than 50% on December 13, Verallia warns that the impact of converting its local sales into euros will prevent it from achieving its annual growth target of at least 20% of total sales in 2023.

The prospect of Argentina's contribution to 2023 sales being halved cannot be offset with three weeks to go before the end of the financial year, despite the modest share that Argentina now represents, at around 2% of total sales.

Although it has updated its sales forecasts for 2023, the glass packaging manufacturer nevertheless confirms its objective of generating adjusted EBITDA in excess of 1.1 billion euros this year.

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