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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:

• Net sales: CHF 601.7 million (2015: CHF 557.0 million)
• EBIT: CHF 49.3 million (2015: CHF 50.3 million)
• EBIT margin: 8.2% (2015: 9.0%)
• Consolidated profit: CHF 42.6 million (2015: CHF 42.1 million)
• Net liquidity: CHF 16.9 million (2015: CHF 11.2 million)
• Cash flow: CHF 105.1 million (2015: CHF 103.7 million)
• Cash flow margin: 17.5% (2015: 18.6%)
• 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 Pöchlarn site in Austria.

At the end of the reporting year, Vetropack Group employed 3,243 members of staff (31 December 2015: 3,228).

Outlook for the 2017 fiscal year

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.


In the future, bigger DESERT power plants will be set up on Brazilian soil, and together with existing turnkey production systems, they intend to take up a large share of the products and assets this sector will possess locally. J.v.G. Thoma plans to build up a local network of sales agents that can extend a premium offering to neighbouring countries in South America. Eventually, the company hopes to be able to expand its customer base to clients in North America.

Hans Thoma, general manager from the Thoma-group, is eager to acquire a substantial market share in Brazil, a growing country with tremendous potential for solar energy output. Having complied with local official procedures (Inmetro, TÜV, Fraunhofer CSP) and cleared the way for future business collaboration, he expresses his hope that the solar industry will henceforth expand quickly.

”Being able to introduce Brazil to the infinite opportunities of a solar industry is a privilege for J.v.G. Thoma GmbH, and one that we are extremely grateful for. At the same time, this placed the ball squarely in our court, and the pressure to get the ball rolling quickly was high. Now that the lengthy initial formalities are out of the way, we can focus on making this project a success.“

The first DESERT solar module production in BRAZIL! Lets go ....
J.v.G. Thoma GmbH is delivering a DESERT turnkey production line to Brazil, the first of its kind and hopefully the first in many breakthroughs to leave the factory floor on their way to the largest country in South America. With a capacity of 30 MW, this is a small semi-automatic DESERT production line, but still a flagship in terms of DESERT solar module production and electricity generation in the country, now fully functional and ready to start with operation.

The machinery consists of DESERT production machines for high-efficiency DESERT solar modules built specifically for extreme hot climate, such as can be seen in deserts or in tropical areas. Made solely in Germany and built using the latest in DESERT and TROPIC module production, the systems inlcudes all cutting-edge technology.

Certified DESERT solar modules, DESERT containers, DESERT power plants and DESERT manufacturing machinery built using pioneering DESERT and TROPICS technology are now fully set up, and ready to perform. But powering on the machinery has been a long time coming. Up until recently, this advanced piece of equipment had been waiting for clearance at a port in Brazil. Now that the formalities have been dealt with, both J.v.G. Thoma and its customer in Brazil can get production under way.

J.v.G. Thoma GmbH is a company whose vision has always been to harness the infinite power of the sun and convert it into an inexhaustible supply of energy. But a vision such as this requires global reach, and this project has opened new doors. Brazil is not only a gateway to South American cooperation, but also the launchpad to international reach and expansion.

Following the delivery of this initial order, J.v.G. Thoma GmbH will be looking forward to an ongoing collaboration with the Brazilian company. From setup and initial training to setting the scene for a ramp up, J.v.G. Thoma will be there to provide expertise and assistance. Moreover, the company will be jointly responsible, along with the client, for the successful integration of the DESERT solar module factory.

In the future, bigger DESERT power plants will be set up on Brazilian soil, and together with existing turnkey production systems, they intend to take up a large share of the products and assets this sector will possess locally. J.v.G. Thoma plans to build up a local network of sales agents that can extend a premium offering to neighbouring countries in South America. Eventually, the company hopes to be able to expand its customer base to clients in North America.

Hans Thoma, general manager from the Thoma-group, is eager to acquire a substantial market share in Brazil, a growing country with tremendous potential for solar energy output. Having complied with local official procedures (Inmetro, TÜV, Fraunhofer CSP) and cleared the way for future business collaboration, he expresses his hope that the solar industry will henceforth expand quickly.

”Being able to introduce Brazil to the infinite opportunities of a solar industry is a privilege for J.v.G. Thoma GmbH, and one that we are extremely grateful for. At the same time, this placed the ball squarely in our court, and the pressure to get the ball rolling quickly was high. Now that the lengthy initial formalities are out of the way, we can focus on making this project a success.“

The first DESERT solar module production in BRAZIL! Let
Source: Vetropack Holding Ltd.