Verallia 2019 full year results

Strong organic revenue growth of 9.1%, adjusted EBITDA at 615 million EUR leading to 23.8% margin, positive outlook for 2020 and confirmation of medium‐term objectives

The main highlights are as follows:

  • Sustained growth in revenue of 7.0% to 2,586 million EUR compared to 2018
  • Strong 9.1% organic revenue growth compared to 2018, in line with guidance between +8% and +10%
  • Substantial growth in adjusted EBITDA to 615 million EUR, in line with guidance above 610 million EUR (up 13.2% compared to 2018 and up 16.0% at constant exchange rates and scope)
  • Significant improvement in adjusted EBITDA margin at 23.8% (up 130 bps compared to 2018)
  • Net income more than doubled to 125 million EUR compared to 49 million EUR in 2018
  • Reduction in net debt to 1,591 million EUR at the end of 2019 i.e. 2.6x adjusted EBITDA
  • Proposal to pay a dividend per share of 0.85 EUR, in line with the 100 million EUR announced at the time of the IPO
  • Positive outlook for 2020 and confirmation of medium-term objectives

“The 2019 results, fully in line with our expectations, mark an important milestone in the life of Verallia recently listed on the stock market. The Group recorded strong and profitable growth as planned in all the regions it operates in. The Group’s profitability has also increased significantly as the result of the implementation of its three main improvement drivers: volume growth, inflation spread management and the Performance Action Plan. Verallia has proven once more its significant deleveraging capability derived from its strong cash generation. The Group has a positive outlook on 2020 backed by the addition of new capacities in a growing market and confirms its medium‐term objectives announced at the time of the IPO,” said Michel Giannuzzi, CEO of Verallia.

The press release is available on verallia.com in the “Investors” section and then under the sub-heading “Press releases & other financial information”.