Vidrala reports its financial statements for the six months ended June 30, 2024.
The results of the first half 2024 demonstrate the strong fundamentals of Vidrala’s business today. Despite a globally moderate demand context, margins remain solid and cash generation reaches the expected levels, further strengthening our financial position.
This is the result of the strategy, which has been firmly aimed at investing more with the customer in mind, diversifying towards growing regions with the entry into the Brazilian market, refocusing the business scope with the sale of the Italian business and, in general, improving the manufacturing facilities of the company to make operations increasingly sustainable.
The slower-than-expected demand recovery within Vidrala’s most mature markets will lead to control capacity utilisation to adapt inventories, which should not affect customer service. In any case, the competitiveness level of Vidrala is improving, driven by the ambitious investments made to reorganise the industrial footprint of the company in Iberia and expand the filling and logistics services in the United Kingdom. Furthermore, the new perimeter following the integration of Brazil is progressively contributing to superior growth. Consequently, the guidance for the full year 2024 is reiterated, including an EBITDA value above EUR 450 million.
Vidrala is today a different company, financially more solid after the sale of the Italian business, with competitive leadership positions in strategic regions and with an agile and talented team that will allow us to continue creating future. And we will do so by guaranteeing a strict financial discipline and committed to our long-term priorities: customer, cost and capital.
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