(Boursier.com) — Veralia camped at 26 euros on Friday, after its recent upward movement in the wake of the fine quarterly publication of the leading European producer of glass packaging for drinks and food products. Over the first three months of the year, the firm achieved an adjusted EBITDA of 183 ME, against 152 ME a year earlier, for a turnover of 750 ME, up 24% (+ 23.9% at constant exchange rates and scope). Results above analysts’ expectations.
“In the current geopolitical context generating unprecedented energy inflation and a negative inflation spread, the Group grew its EBITDA thanks to the operating leverage coming from the increase in volumes and its performance improvement plan. environmental uncertainty, Verallia relies on its agility and resilient profile and thus confirms its 2022 objectives” commented Michel Giannuzzi, CEO of Verallia.
Among the latest advice from brokers, Berenberg raised its target price from 39 to 41 euros with a ‘buy’ advice. “The latest release highlights the company’s pricing power and ‘promising’ volume growth momentum,” Citi said. Revenue growth has been helped by substantial price increases, which should have a greater impact in the coming quarters, even as Verallia has warned of rising production costs, says the analyst which is for purchase on file.
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