Vetropack Group 2016: net sales up 8%

Vetropack Group generated net sales from goods and services of CHF 601.7 million in the 2016 fiscal year, 8% more than in 2015. Unit sales rose by 4.9% to 4.87 billion units of glass packaging.

These increases are attributable to the Group’s newest subsidiary Vetropack Italia S.r.l., which was consolidated for a full year for the first time in 2016.
Financial key figures for 2016:
ï Net sales: CHF 601.7 million (2015: CHF 557.0 million)
ï EBIT: CHF 49.3 million (2015: CHF 50.3 million)
ï EBIT margin: 8.2% (2015: 9.0%)
ï Consolidated profit: CHF 42.6 million (2015: CHF 42.1 million)
ï Net liquidity: CHF 16.9 million (2015: CHF 11.2 million)
ï Cash flow: CHF 105.1 million (2015: CHF 103.7 million)
ï Cash flow margin: 17.5% (2015: 18.6%)
ï Equity ratio: 72.0% (2015: 74.4%)
In the 2016 fiscal year, Vetropack Group generated net sales from goods and services of CHF 601.7 million (2015: CHF 557.0 million), selling a total of 4.87 billion units of glass packaging, up 4.9% year on year (2015: 4.64 billion units). On the whole, the domestic markets, which now include Italy, accounted for 56.5% of unit sales, with the export markets making up 43.5%.
Consolidated EBIT came to CHF 49.3 million (2015: CHF 50.3 million). This slight fall was due to scheduled furnace repairs in Switzerland, Austria and Ukraine. The EBIT margin stood at 8.2% (2015: 9.0%).
The consolidated profit increased slightly to CHF 42.6 million (2015: CHF 42.1 million), while cash flow remained largely stable at CHF 105.1 million (2015: CHF 103.7 million). The cash flow margin amounted to 17.5% (2015: 18.6%). Net liquidity was CHF 16.9 million (2015: CHF 11.2 million).
Vetropack Group invested a total of CHF 95.8 million (2015: CHF 65.0 million) in 2016. This was focused on modernising the furnaces and production facilities in Austria and Ukraine, repairing the roof of the furnace in Switzerland, expanding the cullet processing plant in the Czech Republic and the new Group-wide training centre for production ¨specialists at the Pˆchlarn site in Austria.
At the end of the reporting year, Vetropack Group employed 3,243 members of staff (31 December 2015: 3,228).

Moderate economic growth is on the horizon in the countries where Vetropack Group operates. In Ukraine, some indicators are suggesting that the long-awaited stabilisation of the economy is not far off. Whether this positive trend leads to an increase in demand as early as 2017 remains to be seen. One thing is certain, however. Prices will continue to be squeezed.
However, Vetropack Group has no extensive modernisation work planned for 2017, which should have a positive effect on business performance. Therefore, a slight increase in net sales and performance is expected.
Vetropack Group includes subsidiaries in Switzerland, Austria, the Czech Republic, Slovakia, Croatia, Ukraine and Italy.