In 2025, the Vetropack Group achieved net sales of CHF 778.9 million, a 7.5 percent decrease from the previous year (–5.9 currency-adjusted). Following a persistently challenging market situation with price pressure and generally lower sales in the first half, the stabilisation that emerged in the middle of the year was not sustainable.
The second half of the year was also characterised by overcapacity in the market. The operating result for 2025 reached CHF 21.6 million, a decrease from CHF 34.3 million in the previous year. Net profit for 2025 amounted to CHF 3.8 million, compared with CHF 13.7 million in the previous year.
Vetropack responded to adverse price and mix effects with measures to adjust capacity as well as disciplined cost management. However, with the high proportion of fixed costs typical for the industry, margin pressure could only be partially mitigated.
One-off expenses related to the closure of the production site in St-Prex and asset valuation adjustments had a negative impact on the 2025 operating result of CHF 15.9 million. Excluding these effects, the adjusted operating result for 2025 reached CHF 37.5 million, down from CHF 58.6 million in the previous year. While the reported operating margin declined by 1.3 percentage points year on year, the adjusted operating margin fell by 2.2 percentage points.
Cash flow from operating activities was CHF 107.4 million in 2025, down 20.9 percent from the previous year, partially due to changes in net working capital. Among other things, Vetropack increased its inventory levels as part of capacity adjustments to ensure supply readiness.
Investments in tangible assets totalled CHF 53.2 million in 2025, with the largest individual investments being the modernisation of energy systems at several sites. This includes a third photovoltaic system at the Croatian site Hum na Sutli, which will generate approximately 1,900 MWh of electricity annually, as well as the establishment of a production line for lightweight glass bottles at the Pöchlarn site in Austria.
As a financially stable company with over 60 percent equity financing, Vetropack continued its efforts to position itself as an industry leader in the glass packaging sector through innovation and sustainability in the reporting year. The commissioning of a new production line for lightweight glass bottles Rezon planned for 2026 marks a significant milestone on the path to serial production.
The 2025 report is available exclusively online with a download option.