Added to YB: 2026-05-25
Pitch date: 2026-05-19
VID.MC [bullish]
Vidrala, S.A.
Author Info
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Company Info
Vidrala, S.A. engages in the manufacture and sale of glass containers for food and beverage products in the United Kingdom, Ireland, Italy, Iberian Peninsula, rest of Europe, and Brazil.
Market Cap
EUR 2.7B
Pitch Price
N/A
Price Target
107.00
Dividend
2.23%
EV/EBITDA
6.72
P/E
12.80
EV/Sales
1.87
Sector
Containers and Packaging
Category
value
Vidrala, SA - $VID.MC
VID.MC: Spanish glass packaging producer evolved from domestic leader to scaled European platform w/ LatAm exposure (Brazil, Chile). Strong FCF conversion ~65-70%, low 0.2x net debt/EBITDA, ROIC ~11-12% above cost of capital. 2025: record 30.1% EBITDA margin despite weak demand. Sold Italy for 7x EV/EBITDA, returned €123M to shareholders. Trades 12x P/E vs peers 14x, 6x EV/EBITDA vs 8.5x. DCF + multiples imply €119 fair value vs €83 current (+43% upside). Disciplined capital allocator: progressive dividend (€1.75 proposed), 1% annual buybacks. Risks: structural EU demand decline, energy volatility, low-cost entrants.
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