Earnings release
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verallia Highlights PRESS RELEASE 9M 2021 results + 3.4 % increase in revenue Growth in adjusted EBITDA to € 528 million ( + 11.2 % ) and in adjusted EBITDA margin to 26.1 % ( +183 bps ) 2021 targets confirmed despite the current inflationary tension Paris , 28 October 2021 Revenue increased by + 3.4 % over nine months to € 2,022 million ( + 5.8 % at constant exchange rates and scope ) ( ¹ ) Revenue growth of + 2.0 % to € 695 million in Q3 ( + 2.1 % at constant exchange rates and scope ) ( ¹ ) , despite a high comparative basis in Q3 2020 Adjusted EBITDA of € 528 million over nine months , up + 11.2 % over the previous year Increase in adjusted EBITDA margin to 26.1 % over nine months ( +183 bps ) Reduction in the net debt ratio to 1.8x adjusted EBITDA for the last 12 months , compared with 2.2x at the end of September 2020 ▪ Sales and adjusted EBITDA targets confirmed for 2021 despite the current inflationary tension ( 1 ) The revenue growth at constant exchange rates and scope , excluding Argentina , was + 3.6 % over nine months 2021 compared with nine months 2020 , and -0.2 % in Q3 2021 compared with Q3 2020 . " Despite a high comparative basis created by a very dynamic third quarter last year , Verallia posted a solid growth in revenue over the third quarter and over the first nine months of the year . Adjusted EBITDA and its margin also improved substantially over the nine months , driven by the Group's three strategic pillars : the operational leverage related to the increase in volumes , a positive mix and inflation spread , and improved operational efficiency ( Performance Action Plan ( PAP ) ) . We thus confirm our targets for 2021 , despite the strong inflationary tensions currently observed . In addition , on October 7th , we presented our strategic roadmap for 2022-2024 with ambitious new financial and environmental targets , reflecting our determination to reinforce our global leadership and our commitment to meaningfully contribute to the limitation of global warming " , commented Michel Giannuzzi , Chairman and CEO of Verallia . 1