Verallia: 2026 First Half Results: Higher Cash Generation, 2026 Outlook Confirmed
Stable volumes over the first half compared to H1 2025, with growth in most countries offsetting the expected decline in activity in Germany
H1 revenue of €1,699 million, down -1.4% compared to H1 2025(-1.0% at constant scope and exchange rates1) mainly due to lower sales prices. In Q2, revenue reached €900 million, stable (-0.5%) compared to Q2 2025
Adjusted EBITDA2 stable at €352 million in H1 (€351 million in H1 2025) with a margin of 20.7%, up 33 basis points compared to H1 2025; Q2 margin was down compared to Q2 2025 (21.4% vs. 22.5%) but up sequentially (19.9% in Q1 2026)
Increase in cash generation: free cash-flow reached €102 million in H1 2026 compared to €66 million in H1 2025, an increase of €36 million
