Verallia cuts 2024 guidance

Verallia SA

08/07/2024 18:13

July 8 (Reuters) - French glass packaging producer
Verallia  VRLA  revised down its core profit target on Monday,
citing a slower-than-expected recovery in demand.
    The company now expects adjusted earnings before interest,
taxes, depreciation, and amortization (EBITDA) of around 866
million euros ($937.88 million) for 2024, compared with its
previous guidance of approximately 1 billion euros, the group
said in a press release.
    The recovery in demand is "slower than anticipated and we
estimate that activity in the second half should continue to
improve at a slower pace than we initially expected," Verallia
said in a statement.
    
    


($1 = 0.9234 euros)

 (Reporting by Alban Kacher; Editing by Susan Fenton)
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