Glassmaker Verallia reports 2.1% revenue decline amid wine slump in Q32026

FRANCE – Glassmaker Verallia has reported revenue of €829 million (US$973 million) in the third quarter of 2026, a 2.1% decline from €846 million (US$993 million) in the same period of 2025, driven primarily by reduced shipment levels across wine categories.

Revenue for the first nine months reached €2.5 billion (US$2.93 billion), down 1.6% on the same period in 2025. 

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 Performance Reveals 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. 

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, with Brazil posting further gains alongside a rebound in Argentine and Chilean wine activity.

Cost Reduction Plan Protects Margins

Adjusted EBITDA stood at €172 million (US$202 million) 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 shaved €11 million (US$12.9 million) from net cash production expenses in the quarter, achieving a 2.2% reduction. 

Total savings reached €37 million (US$43.4 million) through September, matching the same pace. 

Net financial debt fell to €1.7 billion (US$2 billion) at the close of September 2026, down from €1.9 billion (US$2.23 billion) twelve 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. 

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