Glass packaging manufacturer “Verallia Ukraine” (village Zarya, Rivne region), a subsidiary of French Verallia, in January-March this year received a net profit of 91.06 million UAH against a loss of 84.64 million UAH for the same period in 2022.
According to the company’s quarterly report released Tuesday in the National Securities and Stock Market Commission’s (NSSMC) information disclosure system, the company’s net income rose 46.5 percent to UAH 636.04 million.
“During the first quarter of 2023, Verallia Ukraine continued its core business despite the martial law, mobilization of a significant number of employees and active hostilities in the country, and did not lose its position in the glassware market in Ukraine. In particular, in the first quarter it began to gradually increase the number of products manufactured,” the company noted.
According to the report, the gross profit of the company for the specified reporting period amounted to 201.7 million UAH against a loss of 42.61 million UAH in the first quarter of 2022, while operating profit was 164.31 million UAH (a loss of 67.81 million UAH).
PJSC “Verallia Ukraine” produces glass containers for alcoholic beverages and food, the company employs over 480 people.
The immediate parent company is German Verallia Deutschland, while the actual control is exercised by Verallia Packading.
According to the company’s website, in early April of this year, thanks to partners and the Verallia Group, it restarted a furnace that had been in continuous operation since 2016, but was controlled shut down in February 2022 with the start of a full-scale war.
“After the refurbishment of the glass shop, production was started with orders for key customers such as Nemiroff, Bayadera and Lutskfoods. We see that the Ukrainian market began to recover, and our partners are in urgent need of high-quality glass, so we restore production of the Selective Line premium line and positions of larger sizes, up to 1.75 liters,” – noted in a statement on the website.
According to Verallia Ukraine’s annual report on the company’s website, last year it posted a loss of UAH 37.21 million against a net profit of UAH 19.13 million a year earlier, with net income up 16% to UAH 2 billion.
Verallia Group, according to its website, is a European leader and the world’s third largest producer of glass packaging for beverages and food. It has 34 glass factories, five plants for the production of décor and 12 centers for processing of glass cullet (glass products) in 12 countries, annually produces 17 billion glass bottles and cans for delivery to 10 thousand companies – from local family-owned manufacturers to large international brands.
Glass container manufacturer PJSC Verallia Ukraine (Zarya village, Rivne region), a subsidiary of French Verallia, received UAH 1.3 billion in revenue in the first nine months of this year, 12% more than in the same period in 2021, according to a quarterly report in the National Commission on Securities and Stock Market (NSCM) disclosure system.
“During the third quarter of 2022, Verallia Ukraine withstood the negative effects of active combat operations in Ukraine, the mobilization of a significant proportion of employees and the loss of a number of customers due to the destruction of production facilities, currency fluctuations and due to quick and prompt actions to reduce costs did not lose its position in the glassware market in Ukraine,” the company pointed out.
According to the report, the gross profit of the company decreased by 2.5 times – to 85.95 million UAH, and operating profit – by 26.6 times, or UAH 139 million – to 5.448 million UAH.
In the first three quarters of 2022, Verallia Ukraine posted a net loss of UAH 91 million, while the company posted a net profit of UAH 99.5 million in the same period last year.
The reason was a significant increase in “other expenses” – up to UAH 106.5 million from UAH 23 million last year.
“Verallia Ukraine” produces glass containers for alcoholic beverages and food products, the company employs about 480 people.
Verallia has 32 glass factories, three decorating plants and eight glass processing centers (glass products) in 11 countries and annually produces 16 billion glass bottles and jars for the supply to 10 thousand companies – from local family producers to the major international brands.
