November 7, 2019 / 5:02 PM / 15 days ago

French glass bottle maker Verallia raises 2019 guidance

PARIS, Nov 7 (Reuters) - French glass bottle maker Verallia , which listed on the stock market last month in one of Europe’s biggest flotations this year, on Thursday raised its financial outlook as it posted an increase in earnings.

Verallia, which supplies glass containers to brands such as Dom Perignon champagne and chocolate spread maker Nutella, said its adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) had risen 12.9% from last year to 478 million euros ($527.8 million).

Verallia added it was now targeting organic growth in its 2019 consolidated revenue of between 8%-10% versus an initial 6-8% target, and an adjusted 2019 EBITDA of above 610 million euros, up from an initial target of around 610 million.

$1 = 0.9056 euros Reporting by Sudip Kar-Gupta; editing by David Evans

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