Earnings PerformanceVerallia's Q1 revenues were broadly in line with expectations, yet EBITDA plunged 23% below consensus on a highly unfavourable price-mix/cost spread, compressing margins by 650bps (q/q) and 640bps (y/y).
Financial GuidanceFY guidance is lowered to around €800m (from close to 2024, i.e. €843m).
Price Mix EffectLower prices and negative mix effect more than offset improving volumes.