EV/LTD EBITDA (equity value/past 12 months before interest) averaged 7.5 times in 2015 and even rose to 13 times in 2018. But in the second quarter of 2019, the figure was 9.3.
The decline in European trading could be linked to global political and economic uncertainty, including brexit and trade barriers in the us. But the topic of plastics and the environment and the looming recession also played a role.
M&a activity is expected to moderate in the medium term. In the packaging industry, smart packaging, bioplastics, biodegradable packaging, smart labels and anti-counterfeiting packaging and other areas will be more and more attention.