Declared Dividend • Mar 01
Dividend of €0.38 announced Shareholders will receive a dividend of €0.38. Ex-date: 13th July 2026 Payment date: 15th July 2026 Dividend yield will be 1.7%, which is lower than the industry average of 2.9%. Sustainability & Growth Dividend is well covered by both earnings (24% earnings payout ratio) and cash flows (29% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 27% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 27
Full year 2025 earnings released: EPS: €5.95 (vs €6.74 in FY 2024) Full year 2025 results: EPS: €5.95 (down from €6.74 in FY 2024). Revenue: €1.51b (down 6.5% from FY 2024). Net income: €209.3m (down 12% from FY 2024). Profit margin: 14% (in line with FY 2024). Revenue is forecast to grow 1.8% p.a. on average during the next 3 years, compared to a 2.4% growth forecast for the Packaging industry in Europe. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Feb 26
Vidrala, S.A., Annual General Meeting, Apr 29, 2026 Vidrala, S.A., Annual General Meeting, Apr 29, 2026. Upcoming Dividend • Feb 04
Upcoming dividend of €1.00 per share Eligible shareholders must have bought the stock before 11 February 2026. Payment date: 13 February 2026. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of British dividend payers (5.4%). Lower than average of industry peers (3.8%). Declared Dividend • Dec 22
First half dividend of €1.00 announced Shareholders will receive a dividend of €1.00. Ex-date: 11th February 2026 Payment date: 13th February 2026 Dividend yield will be 1.5%, which is lower than the industry average of 2.9%. Sustainability & Growth Dividend is well covered by both earnings (7% earnings payout ratio) and cash flows (31% cash payout ratio). The dividend has increased by an average of 13% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 12% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Dec 13
Vidrala, S.A. (BME:VID) agreed to acquire 100% of share capital of the Cristalerias Toro Spa. Vidrala, S.A. (BME:VID) entered into an agreement to acquire 100% of share capital of the Cristalerias Toro Spa on December 11, 2025.
The transaction is estimated to be worth around €77 million. This transaction is contingent upon the satisfaction of specific conditions.
The expected completion of the transaction is January 1, 2026 to April 30, 2026 and the company aims to uphold a robust financial standing, with consolidated net debt remaining consistently under 0.5 times the annual EBITDA. Upcoming Dividend • Jul 04
Upcoming dividend of €0.35 per share Eligible shareholders must have bought the stock before 11 July 2025. Payment date: 15 July 2025. Payout ratio is a comfortable 21% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of British dividend payers (5.5%). Lower than average of industry peers (3.4%). Board Change • May 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 7 highly experienced directors. Nominee Director Inigo Delclaux was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Mar 31
Vidrala, S.A., Annual General Meeting, Apr 29, 2025 Vidrala, S.A., Annual General Meeting, Apr 29, 2025. Location: company`s registered office, barrio munegazo 22, llodio, alava., Spain Declared Dividend • Mar 02
Fourth quarter dividend of €0.35 announced Shareholders will receive a dividend of €0.35. Ex-date: 11th July 2025 Payment date: 15th July 2025 Dividend yield will be 1.3%, which is lower than the industry average of 2.9%. Sustainability & Growth Dividend is well covered by both earnings (16% earnings payout ratio) and cash flows (25% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to decline by 5.1% over the next 3 years. However, it would need to fall by 82% to increase the payout ratio to a potentially unsustainable range. Reported Earnings • Mar 02
Full year 2024 earnings released: EPS: €8.85 (vs €6.89 in FY 2023) Full year 2024 results: EPS: €8.85 (up from €6.89 in FY 2023). Revenue: €1.01b (down 36% from FY 2023). Net income: €238.3m (up 2.1% from FY 2023). Profit margin: 24% (up from 15% in FY 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Packaging industry in Europe. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Feb 05
Upcoming dividend of €0.91 per share Eligible shareholders must have bought the stock before 12 February 2025. Payment date: 14 February 2025. Payout ratio is a comfortable 22% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of British dividend payers (5.8%). Lower than average of industry peers (3.3%). Declared Dividend • Dec 30
Dividend of €0.91 announced Shareholders will receive a dividend of €0.91. Ex-date: 12th February 2025 Payment date: 14th February 2025 Dividend yield will be 4.8%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is well covered by both earnings (6% earnings payout ratio) and cash flows (22% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 8.0% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jul 28
First half 2024 earnings released: EPS: €3.46 (vs €3.70 in 1H 2023) First half 2024 results: EPS: €3.46 (down from €3.70 in 1H 2023). Revenue: €844.7m (up 14% from 1H 2023). Net income: €111.3m (down 6.9% from 1H 2023). Profit margin: 13% (down from 16% in 1H 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 3 years compared to a 4.2% growth forecast for the Packaging industry in Europe. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Jul 05
Verallia Société Anonyme (ENXTPA:VRLA) acquired Vidrala Italia S.r.l. from Vidrala, S.A. (BME:VID). Verallia Société Anonyme (ENXTPA:VRLA) entered into agreement to acquire Vidrala Italia S.r.l. from Vidrala, S.A. (BME:VID) for an enterprise value of €230 million on February 28, 2024. The transaction will be financed by external debt. In 2023, Vidrala Italia reported a revenue of approximately €130 million and EBITDA of €33 million. The completion of the transaction is subject to the approval of the Italian Competition Authority under the Italian merger control law and of the Italian Government under foreign investment rules as well as the customary conditions precedent. The transaction is expected to complete between the second and third quarters of 2024.Pietro Belloni and Lucio D'Amario of Linklaters Studio Legale Associato acted as legal advisor to Verallia. Jose Ramón Berecibar of Cuatrecasas, Gonçalves Pereira, S.L.P. acted as legal advisor to Vidrala.Verallia Société Anonyme (ENXTPA:VRLA) completed the acquisition of Vidrala Italia S.r.l. from Vidrala, S.A. (BME:VID) on July 4, 2024. Following satisfaction of the regulatory filling and other conditions precedent, Verallia confirms that the acquisition of Vidrala’s glass business in Italy. Upcoming Dividend • Jul 04
Upcoming dividend of €0.31 per share Eligible shareholders must have bought the stock before 11 July 2024. Payment date: 15 July 2024. Trailing yield: 1.4%. Lower than top quartile of British dividend payers (5.7%). Lower than average of industry peers (3.4%). New Risk • Apr 30
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 42% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. This is currently the only risk that has been identified for the company. Buy Or Sell Opportunity • Apr 26
Now 21% undervalued The stock has been flat over the last 90 days, currently trading at €95.46. The fair value is estimated to be €120, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 14%. For the next 3 years, revenue is forecast to grow by 2.3% per annum. Earnings are also forecast to grow by 4.6% per annum over the same time period. Declared Dividend • Apr 08
Final dividend of €0.31 announced Shareholders will receive a dividend of €0.31. Ex-date: 11th July 2024 Payment date: 15th July 2024 Dividend yield will be 1.2%, which is lower than the industry average of 2.9%. Sustainability & Growth Dividend is well covered by both earnings (19% earnings payout ratio) and cash flows (38% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 13% over the next 3 years, which should provide support to the dividend and adequate earnings cover. New Risk • Mar 04
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 42% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. This is currently the only risk that has been identified for the company. Reported Earnings • Mar 04
Full year 2023 earnings released: EPS: €7.23 (vs €4.73 in FY 2022) Full year 2023 results: EPS: €7.23 (up from €4.73 in FY 2022). Revenue: €1.59b (up 16% from FY 2022). Net income: €233.4m (up 52% from FY 2022). Profit margin: 15% (up from 11% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Packaging industry in Europe. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Feb 06
Upcoming dividend of €0.82 per share at 1.4% yield Eligible shareholders must have bought the stock before 13 February 2024. Payment date: 15 February 2024. Payout ratio is a comfortable 18% and this is well supported by cash flows. Trailing yield: 1.4%. Lower than top quartile of British dividend payers (6.0%). Lower than average of industry peers (3.8%). Buy Or Sell Opportunity • Jan 30
Now 21% undervalued Over the last 90 days, the stock has risen 34% to €94.00. The fair value is estimated to be €118, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 7.1%. For the next 3 years, revenue is forecast to grow by 1.9% per annum. Earnings are also forecast to grow by 4.5% per annum over the same time period. Buying Opportunity • Dec 28
Now 20% undervalued Over the last 90 days, the stock is up 20%. The fair value is estimated to be €118, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 7.1%. For the next 3 years, revenue is forecast to grow by 2.0% per annum. Earnings is also forecast to grow by 4.5% per annum over the same time period. Announcement • Dec 16
Vidrala, S.A., Annual General Meeting, Apr 30, 2024 Vidrala, S.A., Annual General Meeting, Apr 30, 2024, at 12:00 Central European Standard Time. Announcement • Dec 05
Vidrala, S.A. (BME:VID) completed the acquisition of remaining 70.64% stake in Vidroporto S.A. from Salzano family. Vidrala, S.A. (BME:VID) agreed to acquire remaining 70.64% stake in Vidroporto S.A. from Salzano family on February 9, 2023. The transaction will be completed once certain legal disputes that currently affect Vidrala are resolved. The acquisition of Vidroporto is expected to be earnings and cash accretive since the beginning of its integration.
Vidrala, S.A. (BME:VID) completed the acquisition of remaining 70.64% stake in Vidroporto S.A. from Salzano family on December 4, 2023. The enterprise value of the transaction amounts to €384 million. Buying Opportunity • Oct 04
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 6.1%. The fair value is estimated to be €102, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 7.1%. For the next 3 years, revenue is forecast to grow by 0.2% per annum. Earnings is also forecast to grow by 0.6% per annum over the same time period. Buying Opportunity • Sep 18
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 3.9%. The fair value is estimated to be €104, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 7.1%. For the next 3 years, revenue is forecast to grow by 0.2% per annum. Earnings is also forecast to grow by 0.6% per annum over the same time period. Buying Opportunity • Aug 18
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 9.7%. The fair value is estimated to be €104, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 7.1%. For the next 3 years, revenue is forecast to grow by 0.2% per annum. Earnings is forecast to decline by 0.2% per annum over the same time period. New Risk • Jul 24
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.2% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. Reported Earnings • Jul 21
First half 2023 earnings released: EPS: €4.19 (vs €1.81 in 1H 2022) First half 2023 results: EPS: €4.19 (up from €1.81 in 1H 2022). Revenue: €799.5m (up 22% from 1H 2022). Net income: €128.7m (up 129% from 1H 2022). Profit margin: 16% (up from 8.6% in 1H 2022). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 3.1% growth forecast for the Packaging industry in Europe. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 4% per year. Upcoming Dividend • Jul 05
Upcoming dividend of €0.27 per share at 1.3% yield Eligible shareholders must have bought the stock before 12 July 2023. Payment date: 14 July 2023. Payout ratio is a comfortable 23% but the company is not cash flow positive. Trailing yield: 1.3%. Lower than top quartile of British dividend payers (6.0%). Lower than average of industry peers (3.5%). Board Change • Mar 22
Less than half of directors are independent Following the recent departure of a director, there are only 5 independent directors on the board. The company's board is composed of: 5 independent directors. 6 non-independent directors. Independent Director Gillian Watson was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 03
Full year 2022 earnings released: EPS: €4.97 (vs €4.65 in FY 2021) Full year 2022 results: EPS: €4.97 (up from €4.65 in FY 2021). Revenue: €1.35b (up 24% from FY 2021). Net income: €153.7m (up 5.9% from FY 2021). Profit margin: 11% (down from 13% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Packaging industry in Europe. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Upcoming Dividend • Feb 06
Upcoming dividend of €0.72 per share at 1.2% yield Eligible shareholders must have bought the stock before 13 February 2023. Payment date: 15 February 2023. Payout ratio is a comfortable 31% but the company is paying out more than the cash it is generating. Trailing yield: 1.2%. Lower than top quartile of British dividend payers (5.4%). Lower than average of industry peers (2.9%). Valuation Update With 7 Day Price Move • Oct 21
Investor sentiment improved over the past week After last week's 17% share price gain to €71.69, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 14x in the Packaging industry in Europe. Total returns to shareholders of 5.3% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €117 per share. Reported Earnings • Jul 22
First half 2022 earnings released: EPS: €1.90 (vs €2.74 in 1H 2021) First half 2022 results: EPS: €1.90 (down from €2.74 in 1H 2021). Revenue: €651.4m (up 23% from 1H 2021). Net income: €56.3m (down 31% from 1H 2021). Profit margin: 8.6% (down from 15% in 1H 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 7.0%, compared to a 17% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jul 05
Upcoming dividend of €0.26 per share Eligible shareholders must have bought the stock before 12 July 2022. Payment date: 14 July 2022. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of British dividend payers (5.2%). Lower than average of industry peers (3.2%). Board Change • Apr 27
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 2 experienced directors. 8 highly experienced directors. Independent Director Fernando Gumuzio Iñíguez de Onzoño was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 02
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: €4.88 (down from €5.35 in FY 2020). Revenue: €1.08b (up 9.7% from FY 2020). Net income: €145.2m (down 9.0% from FY 2020). Profit margin: 13% (down from 16% in FY 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.5%. Over the next year, revenue is forecast to grow 10%, compared to a 12% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Upcoming Dividend • Feb 04
Upcoming dividend of €0.68 per share Eligible shareholders must have bought the stock before 11 February 2022. Payment date: 15 February 2022. Payout ratio is a comfortable 18% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of British dividend payers (4.2%). Lower than average of industry peers (3.6%). Reported Earnings • Jul 28
First half 2021 earnings released: EPS €2.88 (vs €2.19 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: €529.7m (up 12% from 1H 2020). Net income: €81.6m (up 31% from 1H 2020). Profit margin: 15% (up from 13% in 1H 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 17% per year whereas the company’s share price has increased by 14% per year. Upcoming Dividend • Jul 05
Upcoming dividend of €0.26 per share Eligible shareholders must have bought the stock before 12 July 2021. Payment date: 14 July 2021. Trailing yield: 1.2%. Lower than top quartile of British dividend payers (4.0%). Lower than average of industry peers (2.6%). Reported Earnings • Feb 28
Full year 2020 earnings released: EPS €5.62 (vs €5.02 in FY 2019) The company reported a solid full year result with improved earnings and profit margins, although revenues were flat. Full year 2020 results: Revenue: €1.02b (flat on FY 2019). Net income: €159.5m (up 11% from FY 2019). Profit margin: 16% (up from 14% in FY 2019). Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Analyst Estimate Surprise Post Earnings • Feb 28
Revenue beats expectations Revenue exceeded analyst estimates by 0.5%. Over the next year, revenue is expected to shrink by 1.6% compared to a 5.9% growth forecast for the Packaging industry in the United Kingdom. Is New 90 Day High Low • Feb 27
New 90-day high: €98.25 The company is up 6.0% from its price of €92.80 on 27 November 2020. The British market is also up 6.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it underperformed the Packaging industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €95.62 per share. Is New 90 Day High Low • Dec 17
New 90-day high: €96.45 The company is up 6.0% from its price of €90.57 on 18 September 2020. The British market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Packaging industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €91.30 per share. Is New 90 Day High Low • Nov 13
New 90-day high: €90.95 The company is up 9.0% from its price of €83.71 on 14 August 2020. The British market is up 4.0% over the last 90 days, indicating the company outperformed over that time. However, its price trend is similar to the Packaging industry, which is also up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €77.67 per share. 
