Verallia (VRLA) AGM 2025 summary

Opening remarks and agenda

• Welcome address by Michel Giannuzzi, Chairman of the Board, introducing the meeting and its agenda, including financial results, governance, remuneration, auditor reports, Q&A, and voting on resolutions.

Financial performance review

• Revenue declined by 11.5% to €3,456M in 2024, mainly due to price/mix effects and lower volumes, with some recovery in H2.

• Adjusted EBITDA fell 24% to €842M, with margin at 24.4% (down from 28.4% in 2023); net income dropped 49.8% to €239M.

• Free cash flow decreased to €82.6M, reflecting lower activity and continued investment, including the acquisition of Vidrala Italia.

• Net debt increased to €1,797M (2.1x EBITDA), impacted by acquisitions and dividend payments.

• Regional performance: Europe saw revenue and EBITDA declines, while Latin America posted volume-driven growth despite FX headwinds.

Board and executive committee updates

• Board composition reflects 50% independence and 40% female representation; 94% attendance rate in 2024.

• Renewal of mandates for Cécile Tandeau de Marsac (1 year), BWSA (3 years), and Bpifrance Investissement (2 years) proposed.

• BM&A's mandates as statutory auditor and sustainability auditor proposed for renewal until 2031.