The main highlights of Verallia‘s First Quarter 2021 results are as follows:
- Decrease in revenue of -6.2% to 605 million EUR in Q1 2021 (-2.0% at constant exchange rates and scope), compared to high pre-pandemic figures from Q1 2020
- Adjusted EBITDA stable at 152 million EUR compared to Q1 2020
- Strong improvement in the adjusted EBITDA margin to 25.1%, up 161 basis points
- Reduction in net debt leverage to 2.1x adjusted EBITDA for the last 12 months, compared to 2.5x as of 30 March 2020 and 2.0x as of 31 December 2020
- Verallia bought back its own shares for a total of 60 million EUR (1.7% of the capital)
Michel Giannuzzi, Chairman and CEO of Verallia, said, “Amid multiple lockdowns and restrictions due to the COVID‐19 pandemic, Verallia has reported a decrease in sales in the first quarter compared to an extremely dynamic first quarter in 2020. Nevertheless, the Group has continued to improve its profitability, benefiting from its Performance Action Plan and a positive inflation spread. Despite uncertainty about the pandemic’s end, Verallia can confirm its 2021 objectives thanks to its agility and resilience.”
To read the full Verallia Q1 2021 results press release click Verallia_Q1 2021_CP_ENG_vFINAL.