2025 first half results: higher volumes and improved cash generation in H1; recovery in profitability in Q2
- Confirmed recovery in volume growth in H1: revenue of €1,723 million, down -2.4% compared to H1 2024 mainly reflecting lower selling prices. Adjusted EBITDA[1] was €351 million, or a 20.4% margin, compared to €431 million and a 24.4% margin in H1 2024
- Strong sequential improvement in profitability in Q2: adjusted EBITDA for the quarter reached €204 million with a margin of 22.5%, up sequentially (+€57 million and +457 bps) compared to Q1 25 (adjusted EBITDA of €147 million and margin of 18.0%) thanks to stronger activity and a less negative inflation spread than in Q1
- Significant increase in cash generation: free cash-flow reached €66 million in H1 2025 compared to €(49) million in H1 2024, an increase of €115 million
- Net debt ratio at 6x last 12-month adjusted EBITDA (2.1x at the end of December 2024) after the payment of €202 million in dividends; liquidity[2] at €810 million as of June 30, 2025
- Successful outcome of BWGI’s voluntary public tender offer
[1] Adjusted EBITDA is calculated based on operating profit adjusted for depreciation, amortisation and impairment,
restructuring costs, acquisition and M&A costs, hyperinflationary effects, management share ownership plans, disposal related effects and subsidiary contingencies, site closure costs, and other items.
[2] Calculated as available cash + undrawn revolving credit facilities – outstanding commercial paper (Neu CP). Certain funds Bridge Loan is excluded from Liquidity as available only to refinance the existing bonds in the event of a change of control in the context of the BWGI Offer.
06.08.2025, Verallia
Il materiale informativo del sito è registrato ed appartiene all´azienda o ai terzi che lo hanno fornitoe tutti i diritti sono riservati.
Qualsiasi utente che accede a tale materiale può farlo solo ad uso personale e ne è anche responsabile.
Ridistribuzione o altro uso commerciale di tale materiale è espressamente proibito. Nel caso in cui il materiale sia stato ceduto da terzi, l´utente concorda di rispettare questi termini di utilizzo specificati.
Glass Global non garantisce la veridicità o l´esattezza del contenuto di alcuna informazione o di siti web esterni menzionati nelle stesse.
Should the content or the design of these sites violate third parties rights or legal prescriptions, we kindly ask you to send us a respective message without invoice or cost. We guarantee that passages where the claim is considered as justified will be removed immediately, without any necessity to involve any lawyer into this issue. We will reject any claim caused by submission of a honorary note in this regard without any prior contact and confirmation of the issueby us and we reserve the right ssue counter claim ourselves because of violation of aforesaid conditions.
