Glassmaker Vetropack reported an 8% rise in in sales for 2016, thanks to the performance of its Italian subsidiary.
The group generated net sales of CHF 601.7 million in 2016, 8% more than in 2015. Unit sales rose by 4.9% to 4.87 billion units of glass packaging.
It attributed the rise to its latest subsidiary Vetropack Italia which was consolidated for a full year for the first time in 2016.
Domestic markets – which included Italy – accounted for 56.5% of unit sales, with export markets making up 43.5%.
Its consolidated EBIT declined due to scheduled furnace repairs in Switzerland, Austria and Ukraine last year.
It spent CHF 95.8 million in 2016 on modernising its 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 a new group-wide training centre for production specialists at its Pöchlarn, Austria, site.
It has no extensive modernisation work planned for 2017, which should improve its business performance next year.