Page 16 - Glass Machinery Plants & Accessories no. 3/2017

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ZIGNAGO VETRO million, while exports
decreased 1.4% to EUR
REVENUE AND MARGINS 126.1 million and margins The group’s balance sheet
increased to 25.1% (from at the end of 2016 shows
INCREASE IN 2016 23.6% in 2015) with net debt up to EUR 156.4
small offsets from costs of million, compared to EUR
Zignago Vetro has evidencing an increase goods and services, which 129 million at the end of
approved its 2016 budget in consolidated revenue declined 2% to EUR 176 2015.
that closes with a business and progress in operating million. Within the year, the
deal of EUR 323 million, margins. A double-digit increase group made technical
up 1.4%; EBITDA of The positive trend in in Ebit of EUR 47.4 investments of EUR 72
approximately EUR demand has persisted million, up 12.8%, after million, while the net
81 million, up 7.8%; throughout 2016 in the depreciation of EUR 33.2 cash flow generated by
and EBIT of EUR 47.4 Italian and EUR pean million (up 3.6%) and operations was over EUR
million, up 12.8%. Net glass container markets provisions decreased by 52 million.
profit was EUR 31.2 for food and beverages. EUR 1 million to EUR .3 The board is proposing to
million, up 7.4%. Net International perfume million. shareholders a distribution
debt increased to 156.4 markets were also Minor net finance of dividend per share of
million from EUR 129 positive with differing charges were down 12% EUR .252 (.235 EUR in
million at the end of developments in various to EUR 3.5 million and 2016), paid on 10 May
2015, compared to net geographical areas. In nonrecurring revenues 2017, for a total of EUR
assets of EUR 155.5 this context, the group decreased from EUR 3.6 21.8 million (EUR 20.3
million (EUR 145.6 closed 2016 with a million in 2015 to EUR .9 million in 2016), a payout
million in 2015). 1.4% increase in profit million within the period. of 70% of consolidated
Zignago Vetro, which of approximately EUR All this leads to a net debt.
produces containers 323 million, sustained net income of EUR Management states that
for the food and by the development of 31.2 million, up 7.4% demand within its various
cosmetics industries, the domestic market, compared to the end of operating sectors in 2017
approves its 2016 results up 3.2% to EUR 192.4 2015. remains high.

NAMPAK BETA GLASS

POSITION ON ZIMGLASS TOP PERFORMING

TAKEOVER SWITCHED ON NSE

Beta Glass PLC, a
subsidiary of Frigoglass
Industries Nigeria
Limited, engaged in
the manufacturing and
selling of glassware,
has gained 39.12% this
South African packaging company Nampak has decided year to achieve the status top performing stock on the
against taking over the country’s only flint glassmaker Nigerian Stock Exchange (NSE).
Zimbabwe Glass Industries, Zimglass. The Johannesburg Beta Glass is a mid-cap stock with market capitalisation
Stock Exchange listed Nampak specialises in glass, plastics, of N21.09 billion.
paper and tin packaging and last year made inquiries With manufacturing plants in Agbara Ogun state and in
about taking over Zimglass, a subsidiary of the Industrial Ughelli Delta state, the company produces, distributes,
Development Corporation (IDC). Zimglass, based in and sells glass bottles and containers for the soft drinks,
Gweru, has been insolvent since 2010 and applied for wine and spirit, pharmaceutical, and cosmetics industries
judicial management in 2014 claiming lack of capital, debt and exports to over 13 countries, including Angola,
overhang, and mismanagement. The company’s assets Benin, Burkina Faso, Cameroun, Gabon, Gambia,
stood at USD 19.2 million as of December 2014. Its Ghana, Guinea, Liberia, Mauritius, Rwanda, Sierra
liabilities were USD 31.2 million. Leone and Togo.

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