The Board of Directors of Zignago Vetro S.p.A has approved the company’s Interim Report at September 30, 2015.
In 2015, the European Food and Beverage containers market showed signs of improving demand. The Italian food and beverage container market also grew in line with Europe in general.
The global Cosmetics market continued the development of preceding quarters – particularly in certain product categories. The international Perfumery markets also maintained the development seen in 2014. The Luxury segment of the Perfumery market however featured stable demand and excess supply.
Overall, in the first nine months of the year the Group strongly improved revenues on the basis of increased volumes.
The margin grew, although in the third quarter impacted by unsatisfying results in the high-end perfumery segment.
Financial highlights are:
- Revenues total Euro 238.1 million (up 5.1%); export revenues amount to Euro 91.1 million (up 10.5%) – 38.3% of total revenues.
- EBITDA of Euro 54.4 million (22.8% margin, +13.2%).
- Net Profit of Euro 19.3 million (8.1% margin, +18.5%).
- Net debt of Euro 125.7 million.
- Cash generation, before investments, rises to Euro 46.3 million (+9.5%).
The improving market conditions in the first nine months of the year are expected to continue for the fourth quarter, and so good results – at least in line with the first nine months of the year – are expected for the final quarter.
Detailed figures are available on the company website http://www.gruppozignagovetro.com/en/area-stampa/area-stampa-eng