Verallia, the leading European and third‐largest global producer of glass containers for food and beverages, hosted its virtual Capital Markets Day to announce its updated strategic roadmap with new objectives running into 2024. The new plan, which includes ambitious environmental and financial goals, was presented by Group Chairman and CEO Michel Giannuzzi and other members of the Executive Committee.
Having weathered the COVID‐19 crisis and delivered a strong financial and industrial performance since its 2019 IPO, Verallia is opening a new chapter that builds on its successful last strategic plan. This roadmap comprises four key pillars:
- Pursue disciplined growth: Improving customer experience to grow the business; achieving a positive inflation spread; and seeking actively value‐accretive acquisitions or new greenfield/brownfield projects.
- Increase operational excellence: Addressing unsafe behaviours to achieve zero accident; ongoing implementation of Performance Action Plans to reduce production cash cost by more than 2 percent annually; and deploying Verallia Industrial Management system.
- Invest wisely for a sustainable future: Improving working conditions; reducing CO2 emissions and energy consumption; increasing Process Control by leveraging Data Analytics and Artificial Intelligence.
- Anchor a strong entrepreneurial culture: Strengthening Corporate Purpose and Values across the organization; increasing accountability, speed and agility; improving learning ability; and reinforcing the talent pool with increased diversity.
Michel Giannuzzi said, “Verallia can benefit from significant market opportunities including premiumization and plastic substitution that both favour glass, in a growing demand environment, and market consolidation prospects. Benefiting from strong leadership positions with a large and diversified customer base in its own key markets and geographies, Verallia is perfectly positioned to capture these opportunities.
“To this end, we have updated our strategy that combines the constant pursuit of disciplined growth and operational excellence with increased investment in sustainability and the reinforcement of our already strong entrepreneurial culture. Reflecting our determination to make Verallia a leader in its industry, we have also upgraded our environmental commitments to reach carbon neutrality and contribute meaningfully to the limitation of global warming.”
Responding to the environmental challenges the planet is facing and changing consumption patterns, Verallia unveiled in October 2020 its purpose to “re‐imagine glass for a sustainable future” and set out its ESG roadmap in January 2021, with several important targets. Today Verallia takes the further step of setting new ambitious goals aligned with the objective of limiting global warming to 1.5°C set by the Science Based Targets Initiative (SBTi).
To download the full release click here.