Over the first nine months of the year, Verallia’s revenue stood at €2,518 million, compared to €2,022 million over the same period in 2021, representing a 24.5% increase. The sales price increases, implemented in Europe in the first half to offset the sharp rise in production costs, had a positive impact over the period. The strong momentum in terms of pricing policy and mix in Latin America continued in view of the high inflation in the region. Product mix also remained robust during the quarter.

Verallia’s situation in Ukraine remained similar to during the first half of the year: one furnace was emptied and cooled in order to keep it in good condition, while the second is now mainly focused on producing food jars. As the situation in the country remains volatile, Verallia’s priority is the safety of its teams and the needs of its local customers.

“These excellent third quarter results follow on from a strong first half. Revenue growth remained high despite the slight expected decline in volumes due to less available capacity. Adjusted EBITDA also continued to grow thanks to a positive inflation spread over the period, the improved operational efficiency that resulted from our Performance Action Plan, and unprecedented momentum across Latin America. The lighting of a second furnace in Jacutinga will take place as planned on November 9th. Higher visibility for the end of the year, coupled with excellent third-quarter results, puts Verallia in a position to increase its annual targets.” said Patrice Lucas, CEO of Verallia.

www.verallia.com

Image: The planned lighting of Verallia’s second furnace in Jacutinga, Brazil will take place in November.