Verallia, the third largest global manufacturer of glass containers has released its 2018 annual results. Highlights include: Revenue of €2,416m, a solid 5.7% revenue growth at constant foreign exchange rates and excluding IFRS15 impact. An adjusted EBITDA growth at €544m, e.g. +7.8% year-on-year, 14.4% at constant foreign exchange rates. The adjusted EBITDA margin expansion reaching 22.5%, up 210bps compared to 2017, up 150bps excluding IFRS15. Michel Giannuzzi, CEO commented "2018 has been a very good year for Verallia with improvements in the service provided to our customers and stronger productivity. This joint effort in sales contribution and costs base reduction has enabled a solid increase in adjusted EBITDA both in value and in the margin. We expect continuing improvements in 2019."
