www.vidrala.com
H1 2026 RESULTS
JULY
23 rd
, 2026
2DISCLAIMER
Thispresentation includes ormay include representations orestimations concerning thefuture about intentions, expectations orforecasts ofVIDRALA oritsmanagement, which may refer tothe evolution ofitsbusiness performance and itsresults .These forward -looking statements refer toourintentions, opinions and future expectations, and include, without limitation, statements concerning our future business development and economic performance .While these forward -looking statements represent ourjudgment and future expectations concerning thedevelopment ofour business, anumber ofrisks, uncertainties and other important factors could cause actual developments and results todiffer materially from our expectations .These factors include, but are not limited to,(1)general market, macro -economic, governmental and regulatory trends, (2)movements inlocal and international securities markets, currency exchange rates and interest rates aswell ascommodities, (3)competitive pressures, (4)technological developments, (5)changes inthe financial position orcreditworthiness ofourcustomers, obligors and counterparties .
Theriskfactors and other keyfactors that wehave indicated inourpast and future filings and reports, including those with the regulatory and supervisory authorities (including theSpanish Securities Market Authority –Comisión Nacional delMercado deValores -CNMV), could adversely affect ourbusiness and financial performance .
VIDRALA expressly declines any obligation orcommitment toprovide any update or revision ofthe information herein contained, any change inexpectations or modification ofthefacts, conditions and circumstances upon which such estimations concerning the future have been based, even ifthose lead toachange inthe strategy ortheintentions shown herein .
Thispresentation can beused bythose entities that may have toadopt decisions or proceed tocarry out opinions related tosecurities issued byVIDRALA and, in particular, byanalysts .Itisexpressly warned that this document may contain unaudited orsummarised information .Itisexpressly advised tothe readers ofthis document toconsult thepublic information registered byVIDRALA with theregulatory authorities, inparticular, theperiodical information and prospectuses registered with theSpanish Securities Market Authority –Comisión Nacional delMercado deValores (CNMV) .
VIDRALA, IN BRIEF
3
Sites
12Production
10.0 bnFilling
400 m
CO2emissions
0.321
Customers
>1,600Recycled glass
55%
SUPPLIER OF CHOICE FOR THE GLASS PACKAGING INDUSTRY
48%
33%19%SALES
Europe
UK & IrelandSouth America 50%
26%23%EBITDA
Europe
UK & IrelandSouth AmericaTHE NEW VIDRALA GROUP
4SALES AND EBITDA BREAKDOWN BY REGION
H1 2026, as a percentage of the total Group
A STREAMLINED ORGANISATION WITH A FOCUSED GEOGRAPHIC FOOTPRINT
H1 2026 KEY FIGURES
5
SALES
754.0
EUR million
-3.8% YoY organicEBITDA
225.5
EUR million
+1.5% YoY organic
EARNINGS
3.36
EUR per share
+9.9% YoYNET DEBT
252.3
EUR million
0.6x leverage ratio
SALES
6 Scope change reflects the proforma contribution of Chile in 2025.H1 2025 Scope
changeH1 2025
proformaOrganic
changeFX
effectH1 20260,0100,0200,0300,0400,0500,0600,0700,0800,0900,0YEAR OVER YEAR CHANGE
EUR million
-4.2%
YoY+4.9%
-3.8% -0.4% 750.1786.7754.0
EBITDA
7 Scope change reflects the proforma contribution of Chile in 2025.YEAR OVER YEAR CHANGE
EUR million
H1 2025 Scope
changeH1 2025
proformaOrganic
changeFX
effectH1 20260,050,0100,0150,0200,0250,0
+1.6%
YoY216.1222.0 225.5+2.7% +1.5% +0.1%
OPERATING MARGIN
8YEAR OVER YEAR CHANGE
As percentage of sales
0,0%5,0%10,0%15,0%20,0%25,0%30,0%35,0%
H1 2025
reportedH1 2026
reported+29.9%+28.8%
+110 bps
QUARTERLY PERFORMANCE
9SALES AND EBITDA
Year over year change
391 396
-6.0%-2.4%
Q1 Q2SALES
2025 2026
107115
-3.0%+5.9%
Q1 Q2EBITDA
2025 2026Improving quarterly trends , driven by the recovery in Southern Europe and sustained momentum in
South America
Robust margins across all business units , despite
inflationary headwinds,
intense competition and the ongoing adaptation of
selling prices
CONTINUED FOCUS
ON CUSTOMERS,
COST DISCIPLINE AND
AMBITIOUS INVESTMENTSVolume
-2.9%Volume
-0.6%Margin
28.3%Margin
31.5%
MAIN FIGURES, BY BUSINESS UNIT
10NEW PERIMETER, INCLUDING THE CONTRIBUTION OF CHILE IN 2025
EUR million
383 364281250123141
H1 2025 H1 2026SALES
Europe UK & Ireland South America 117 11463 5942 53
H1 2025 H1 2026EBITDA
Europe UK & Ireland South America H1 2025 average exchange rates : EUR/GBP 0.842; EUR/BRL 6.277; EUR/CLP 1,042.
H1 2026 average exchange rates : EUR/GBP 0.867; EUR/BRL 6.024; EUR/CLP 1,042.
215284433
215252
0.9x
0.8x1.0x
0.5x0.6x
0,0x1,0x2,0x3,0x4,0x
0100200300400500
Jun-22 Jun-23 Jun-24 Jun-25 Jun-26
NET DEBT
11YEAR OVER YEAR EVOLUTION, SINCE 2022
EUR million and times EBITDA
Acquisition of
Vidrala Chile
SHAREHOLDER REMUNERATION
12DIVIDENDS AND SHARE BUYBACKS
EUR million
050100150200250
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026Cash dividend & AGM attendace bonus Share buyback *EUR 129 million extraordinary dividend distributed in July 2024, following the sale of Vidrala Italy.*
2026
Remuneration
€62
million
+15% YoY, considering the effect of the bonus share issue completed in
November 2025
Cash
dividends
€90
million
expanded up to a maximum of 3% of the share capital to reduce the share capital by the redemption of own shares
Share
buyback
programme
FY 2026 OUTLOOK, REITERATED
13EBITDA
EUR >450 million Consolidating operating profits and margins, supported by internal actions, despite challenging macro conditions and intense competition Earnings Per Share (EPS)
>5% growth
Delivering earnings growth underpinned by strong operational performance, earnings -accretive geographical diversification and share buybacks Free Cash Flow (FCF)2 EUR ≈200 million Sustained, robust cash generation, while executing an ambitious capex programme to support strategic
investments
Resilient
outlook1
in a
challenging
macro
environment
1. FY 2026 outlook reflects the current market view and may not fully capture macroeconomic and geopolitical uncertainties, amo ng other factors. The outlook is based on full -year average exchange rates of EUR/GBP 0.87, EUR/BRL 6.10 and EUR/CLP 1,040.
2. Free Cash Flow outlook is provided on an underlying basis, excluding restructuring costs.
CLOSING REMARKS
14STRATEGIC HIGHLIGHTS
Q2 results delivered solid growth, driven by the recovery in European sales and the continued strong performance in South America01 02 03 Margins remained resilient across all divisions despite macro conditions, supported by our cost -control initiatives and efforts to enhance competitiveness Consequently, we reaffirm the full -year guidance announced in April