Vetropack Group’s net sales of goods and services rose by 5.0% to CHF 631.5 million ($659.1 million), while unit sales rose by 4.0% to a new record high of 5.07 billion units of glass packaging.

It is the first time the group has sold more than 5 billion units in a year and said all its companies contributed to the increase in turnover and sales.

In its 2017 financial report it stated it grew consolidated EBIT by 30.0% year on year to CHF 64.1 million ($66.9 million), which meant an improved EBIT margin of 10.1%.

It cited positive market environment, greater production capacity and stable production costs in the year.

It made CHF 67.3 million ($70.2 million) of investment during the year. These were mainly directed towards scheduled repairs to a furnace and the installation of a modern glass-blowing machine at its Ukrainian plant.

New glass-blowing machines were also put in place at its Swiss, Czech and Croatian plants, which increased capacity utilisation of the furnaces and improved production flexibility.

It invested in infrastructure maintenance in its Italian plant as well as new sorting system equipped with inspection machines for a production line.

It expects the packaging industry to continue to enjoy positive market conditions in 2018.

“Consumption and demand appear to be stabilising at a slightly higher level.

"In this market environment, Vetropack Group looks set to be able to utilise all its capacity to the full and increase slightly its net sales.

"It is anticipating an operating result on a par with last year due to higher expenses incurred on two furnace projects.”