15 February 2023

2022 annual results: Verallia continues its profitable growth and delivers an outstanding performance in all areas

Increase in revenue to €3.352Bn (+25.3%)

Growth in net income to €356m (+42.7%)

Net debt ratio of 1.6x after the acquisition of Allied Glass in November

Reduction in CO2 emissions of 10.8% vs. 2019, in line with commitments

  • Increase in revenue of +25.3% to €3.352Bn (+26.5% at constant exchange rates and scope)[1] compared with 2021
  • Growth in adjusted EBITDA to €866m in 2022, from €678m in 2021 (+27.6%)
  • Improvement in adjusted EBITDA margin to 25.8% in 2022 compared with 25.4% in 2021 (+47 bps vs. 2021)
  • Net income[2] of €356m compared with €249m in 2021 (+42.7% vs. 2021) and earnings per share2 of €2.92
  • Acquisition of Allied Glass, UK market leader in premium spirits closed in November
  • Drop in net debt ratio to 1.6x adjusted 2022 EBITDA compared with 1.9x at 31 December 2021, after the acquisition of Allied Glass for an EV[3] of £315m
  • Reduction in Scope 1 & 2 CO2 emissions of -2.7% 2021 (-10.8% vs. 2019) and increase in external cullet[4] ratio of 55.7% (+0.7 points vs. 2021) in 2022
  • Proposal to pay a dividend per share of €1.40[5]


”I am very pleased with 2022 results, illustrating the relevance of the Group’s strategy and the agility of its teams in a particularly volatile environment. Verallia demonstrated its flexibility and ability to generate a positive inflation spread despite unprecedented cost inflation while continuing its productivity plans. The Group also capitalised on a buoyant market by optimising its production capacities and successfully lighting a new furnace in Brazil. Verallia has also implemented all facets of its capital allocation strategy through investment in its organic growth and decarbonisation, a strategic acquisition in the UK and the launch of a share buyback programme. Lastly, we are more motivated than ever to maintain our decarbonisation trajectory, while further delivering our profitable growth.” said Patrice Lucas, CEO of Verallia.


[1] Growth in revenue at constant exchange rates and scope excluding Argentina of +22.4% in 2022 compared with 2021.
[2] Net income for 2022 includes an amortisation expense for customer relationships recognised upon the acquisition of Saint-Gobain’s packaging business in 2015, of €44m and €0.38 per share (net of taxes). If this expense had not been taken into account, net income would be €400m and €3.30 per share. This expense was €43m and €0.36 per share in 2021.
[3] Enterprise value.
[4] Recycled glass.
[5] Subject to the approval of the Annual General Shareholders’ Meeting which will take place on 25 April 2023.

2022 annual results: Verallia continues its profitable growth and delivers an outstanding performance in all areas
15 February 2023