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Verallia (VRLA) investor relations material
Verallia Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue declined 3.6% year-over-year to €3,331 million in 2025, with organic growth at -2.8% and adjusted EBITDA down 17.8% to €692 million (margin 20.8%).
Net income was €93 million, impacted by exceptional asset depreciation, with EPS at €0.77; excluding impairments, net income would be €121 million (EPS: €1.00).
Free cash flow doubled to €166 million, driven by strict CapEx and working capital control, despite lower EBITDA.
SBTi validated the net zero 2040 trajectory, with the group pioneering sustainability in glass packaging.
Industrial adaptation plans in Europe target overcapacity, with site closures and furnace shutdowns in Germany, France, and the UK.
Financial highlights
Q4 revenue fell 7.1% year-over-year to €763 million; Q4 adjusted EBITDA was €161 million, down 20% year-over-year, margin at 21.1%.
Capital expenditure was €259 million (7.8% of sales), down from €323 million in 2024; strategic CapEx at €97 million (2.9% of sales).
Net debt at year-end was €1,861 million, leverage at 2.7x adjusted EBITDA, up from 2.1x in 2024.
Dividend of €1.00 per share proposed, with option for payment in cash or shares; major shareholders opting for shares to limit cash outflow.
Free cash flow reached €166 million, up from €83 million in 2024.
Outlook and guidance
2026 expected to see market stability but subdued conditions, with flat demand in Europe and growth in Latin America.
Adjusted EBITDA guidance for 2026 is around €700 million; free cash flow target is €220 million, excluding restructuring cash out.
Restructuring plan to be implemented in H1 2026, with 50% of savings realized in 2026 and full impact in 2027.
CapEx to remain around 8% of sales, with no new capacity investments planned.
Focus on competitiveness, cash generation, and deleveraging.
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