The fiscal year 2024 was one of the most difficult in Vetropack’s history. Its dominant features were the persistently tense market environment and a number of difficult decisions – including, in particular, the closure of the plant in St-Prex, Switzerland.
The overall result for 2024 is significantly below the prior year’s level due to the general decrease in sales prices, and it is also impacted by the closure costs for the plant at St-Prex.
Net sales from goods and services reached CHF 842.1 million in 2024, representing a decline of 6.3 percent (after adjustments for currency effects: 4.2 percent). Adjusted EBIT decreased to CHF 58.6 million (prior year: CHF 93.3 million). Consolidated profit amounted to CHF 13.7 million (prior year: CHF 63.3 million).
With this result, the Vetropack Group proves its resilience in a difficult environment. However, the downturn in net sales from goods and services reflects the persistently tense market situation. The result is due, on the one hand, to energy costs – which directly influence sales prices – and, on the other, to price pressure resulting from excess capacities in the market.
This price pressure is also reflected in the Group’s adjusted EBIT: at CHF 58.6 million, this figure is 37.2 percent down year-on-year. There was a corresponding decrease in the adjusted EBIT margin, from 10.4 percent in 2023 to 7.0 percent in the year currently under review.
Cash flow in the last fiscal year was CHF 103.6 million; this represents a year-on-year reduction of CHF 26.5 million, equivalent to 20.4 percent. The cash flow margin shrank by 2.2 percent year-on-year, bringing the figure to 12.3 percent.
Net profit is also impacted negatively by the one-off costs of CHF 24.3 million in connection with the closure of the St-Prex plant; at CHF 13.7 million, this figure is significantly below the prior year’s level of CHF 63.3 million.
The full report can be downloaded here.