Verallia - Sales contract sharply in Q1 as expected, but profitability holds up
A complicated Q1, but with resilient resultsQ2 is also likely to be down, before a recovery in volumes in H2.Adjusted EBITDA target of €1 billion confirmed, i.e. around -10% compared with 2023Valuation still attractive despite the sharp rise in the share price, and BUY opinion maintained with target price unchanged at €42 per share.Verallia SAS Formerly known as Verallia SASU. Verallia SASU is a France-based company, which operates as a producer of glass packaging solutions. The Company manufactures a number of jars and bottles for various markets, including the still and sparkling wine, spirits, food, as well as the beer and nonalcoholic sectors. Apart from France, the Company also operates in many countries in Western Europe, Eastern Europe and South America, among others.
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