The Vetropack Group, one of Europe’s leading glass packaging manufacturers, expects its result for the current fiscal year of 2025 to be significantly below previous expectations. The reason for this is the persistently difficult market situation in Europe.
Contrary to the previous forecast in its Semi-annual report, Vetropack no longer expects sales and profitability to develop steadily in the current second half of the year, and consolidated profit at the end of the fiscal year will therefore not exceed the figure for the prior year. Net profit is now expected to be in the single-digit million range. The background to this development is the subdued demand situation that continues to persist in the Group’s key European core markets.
Vetropack’s Group management has already initiated appropriate measures. Vetropack will increasingly consider temporary shutdowns of individual production lines and furnaces across all its locations.
At the beginning of December, therefore, Vetropack will already implement the orderly shutdown of one of the two furnaces at its plant in Chişinău, in the Republic of Moldova, and keep it out of operation for at least half a year. Due to its geographical location and the tense political situation in the region, the Republic of Moldova is entirely dependent on energy imports from Western Europe and has to pay top prices for them.
The full report is available here.