Vidrala : FY 2023 results in line, price cost gap to put pressure on 2024 earnings
>Sound results on positive margin developments - Vidrala results came broadly in line with estimates at the operating level with EBITDA margin at 25.3% compared to our estimate of 25.4% and last year’s levels of 20.1%. The rise in glass packaging prices in a context of declining energy prices drove margin improvement. Sales increased by +16% or 15% excluding scope (The Park in UK and one month of full consolidation of Vidroporto in Brazil) and FX (-0.9%) effects. EBIT...Vidrala SA is a Spain-based company principally engaged in the glass industry. The Company operates through two segments: Spain and European Union. The Company's activities include the production, distribution and sale of glass bottles and containers used in the food and beverages industries. The Company conducts its own research and development (R&D) operations. It operates production plants and melting furnaces located in such countries, as Portugal, France, Belgium and Italy. The Company owns such subsidiaries as Crisnova Vidrio SA, Inverbeira Sociedad de Promocion de Empresas SA, Gallo Vidro SA, Castellar Vidrio SA, Corsico Vetro SRL, MD Verre SA, Omega Immobiliere et Financiere SA, Investverre SA and CD Verre SA.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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