Verallia has reported revenue of €829m ($924m) in the third quarter (Q3) of 2026, equating to a decline of 2.1% from €846m in Q3 2025.
Revenue for the first nine months reached €2.5bn, down 1.6% on the same period in 2025.
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Reduced shipment levels accounted for most of the quarterly shortfall, with contractions heavily clustered across July and August before showing a late-quarter recovery.
Pricing impacts played an insignificant part in the quarterly result, having largely dissipated since early 2026.
Still and sparkling wines experienced the sharpest quarterly contractions, while beer shipments expanded.
Orders for spirits and food jars decelerated during the three months, though both maintained substantial cumulative expansion over the nine months.
Regional results revealed diverging patterns. Southern and Western Europe slipped into negative territory following earlier half-year increases, held back by quiet summer trading in France and Iberia that hit wine hard.
Conversely, Italy held ground, aided by higher output from the Pescia facility’s newly commissioned furnace.
In Northern and Eastern Europe, volumes contracted in line with projections as German operations curtailed capacity, though the region recovered somewhat from its first-half rate of decline. Within the territory, drops in food jars and beer were cushioned by higher wine intake.
Latin American deliveries finished the quarter unchanged overall.
Brazil posted further gains, accompanied by a rebound in Argentine and Chilean wine activity after first-half contractions.
Within Brazil itself, deliveries rose for beer and still wines, whereas spirits volumes slipped backwards after expanding earlier in the year.
Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) stood at €172m for the quarter, generating a 20.8% margin compared with 20.7% in the first half.
Cost-reduction initiatives cushioned margins. The group’s performance improvement plan (PAP) shaved €11m from net cash production expenses in the quarter, achieving a 2.2% reduction.
Total savings reached €37m through September, matching the same 2.2% pace.
Net financial debt fell to €1.7bn at the close of September 2026, down from €1.9bn 12 months earlier.
Corporate activity during the period included a research and development agreement signed in September with Moët Hennessy to engineer packaging solutions focused on circularity, resource efficiency, and performance.
Leadership changes were also set in motion. Stefan Borgas has been selected to take over as board chairman following the 30 April 2027 annual general meeting, subject to shareholder confirmation.
He will succeed Michel Giannuzzi, who chose to step down after a decade in the role.
Management reaffirmed its financial guidance for 2026.
The packaging producer expects to deliver adjusted EBITDA of approximately €700m alongside €220m in free cash flow, prior to outlays tied to the industrial footprint optimisation plan.
