Glass packager Vetropack said 2024 was one of the most difficult in its history.
The Swiss-headquartered company said a persistently tense market environment and the closure of its St-Prex glass facility were dominant features.
This was reflected in its financial figures with a 78% drop in profit from the previous year and a 6.3% decrease in sales
Consolidated profit in 2024 was CHF 13.7 million ($15.1 million) compared to CHF 63.3 million ($71.9 million) the year before, a 78.3% drop.
It said net profit was impacted by the one-off costs of CHF 24.3 million ($27.6 million) in connection with the closure of the St-Prex plant.
Net sales from goods and services was CHF 842.1 million ($957.5 million) in 2024, a decline of 6.3% (after adjustments for currency effects: 4.2%).
It expects a tentative recovery of the markets in the course of 2025, but warned of volatile energy costs.
CEO Johann Reiter said: "In 2025, we will still be operating in a world with enormous potential for crises.
"The last few years have clearly shown that our markets often react sensitively to small changes.
"Various imponderables still remain, including in particular the further progress of the war in Ukraine as well as the potential impact of the new US administration’s economic policy on the global markets.
“In this challenging environment, it is more important than ever to stay on the course we have set.
“In practical terms, this means reacting quickly and promptly to changes, pursuing a prudent investment and personnel policy, and ensuring proactive management of production capacities.
“Our aim is to create all the conditions that will enable us to act quickly and ramp up our production when the market situation improves and demand increases.”
