Verallia released its first quarter 2026 results: the Group improves its profitability and confirms its 2026 outlook.
Patrice Lucas, Group Chief Executive Officer, said, “The profitability improvement in the first quarter of 2026 marks a first stage in the recovery of Verallia’s performance. In an environment that has recently become tense due to the conflict in the Middle East, the Group is focusing primarily on its internal levers. The industrial footprint optimisation plans are progressing in line with our roadmap and should support performance from the second half of the year, while the Performance Action Plan (PAP) continues to deliver solid results and our energy hedging policy provides us with strong visibility on our cost base, with more than 80% of our energy needs covered for the year. In this context, we confirm our objectives for 2026, whilst paying close attention to the evolution in the market environment.”
Highlights
- Stable volumes over the quarter compared to Q1 2025, with growth in most countries offsetting the decline in activity in Germany
- Q1 revenue of EUR 798 million, down -2.4% compared to Q1 2025 (-1.2% at constant scope and exchange rates), due to lower selling prices
- Adjusted EBITDA up 8% to EUR 159 million (19.9% margin) compared to EUR 147 million in Q1 2025 (18.0% margin)
- Net debt ratio at 2.7x last 12-month adjusted EBITDA (2.7x at the end of December 2025). Liquidity remains high at €856 million as of March 31, 2026
- Verallia confirms its 2026 outlook, while paying close attention to a context marked by strong uncertainties related to the conflict in the Middle East, namely:
- Adjusted EBITDA of around EUR 700 million
- Free cash flow of around EUR 220 million (excluding restructuring cash-outs planned in relation to the Group’s industrial footprint project)
The full report is available here.