Slovenian manufacturer Steklarna Hrastnik posted a 57.1% rise in profit in 2014 thanks to a higher return on sales.
Then company said 2014 was marked by investment, higher return on sales and continued investment in its staff.
Its profit was €4.4 million, up 57.1% from 2013.
Total operating income was €48.3 million. Earnings before interest and taxes (EBIT) increased by 33.3% compared to 2013 and amounted to €5.2 million.
In 2014 it invested €9.9 million in the renovation and modernisation of its production facility. It said the investment was reflected by a 16% reduction in its energy per kilogramme of molten glass.
"In 2013 we focused on optimising the less profitable programmes. In the past year, we upgraded our activities since we intensely focused on finding new direct foreign customers and improving our product portfolio, i.e. the development of more expensive products and developing our own programme," said Steklarna Hrastnik Director-General, Andrej Božič (pictured).
"Not only did we complete the period of rehabilitation, the company is strong, financially stable and profitable."
In 2014 the company entered less traditional markets such as China, Jordan, India and Scandinavia. Between 2009 and 2014, Steklarna Hrastnik managed to increase the sales prices per kg of glass by 12% and expand its range of direct customers.
"In the world we are increasingly recognized and accepted as a new alternative for the most prestigious segment of glass packaging," pointed out Andrej Božič. "We are proud that our own brand High Glass competes successfully in the highly demanding market of prestigious bottles."
With the new investment this year, Steklarna Hrastnik is now preparing to enter the perfume bottles market.
"The key factor of our success is a powerful, efficient, and connected team of colleagues," added Mr Božič. "We are constantly investing in the skills and education of our employees, we take care of their motivation and commitment, which has paid at all levels - the higher number of employee suggestions for improvements and lower sickness absence and the lower fluctuation."
The added value per employee in 2014 increased to €33,724, the business unit Special totalled €46,542. Staff fluctuation was only 1.1% and both the number of occupational injuries and sickness decreased.
The latter is one third lower than in 2009. Steklarna Hrastnik spent almost €400,000 on employee training, which is 22 times more than in 2009.