Glass reported a 33.2% upturn in sales for its glass manufacturing technology
equipment in 2022.
The glass forming technology supplier said order intake in its financial year 2022 rose considerably from an already very high level.
Sales increased to CHF 525 million (US$571.5 million) from CHF 394 (US$428.8 million) the previous year.
Order intake grew 10.8% from the year previous, to CHF 578 from CHF 522 in 2021.
The Swiss-headquartered group said glass containers stayed on trend throughout the whole reporting period, which kept customers’ production utilisation very high.
The rapid upturn in investments that had begun in 2021 continued, despite the high energy prices that negatively impacted glass container producers particularly in Europe.
Production capacity was highly utilised at all sites.
The operating profit margin is likely to increase from an already high level, also due to a strong performance in the second half of the year.
It said: “This
very pleasing development is due to the division’s high sales volume and
continued low cost base, combined with its improved efficiency, positive
currency effects and its overall favourable product and project mix.”
In its outlook for 2023 it anticipates that sales will be in line with that of 2022.