Vetropack Group has revised its earnings forecast for the current year downwards. In an ad hoc announcement, the glass packaging manufacturer refers to the persistently difficult market situation in Europe and now expects a net profit in the single-digit million range.
Contrary to the assessment in the half-year report, Vetropack no longer expects a stable development in sales and profitability in the second half of the year; Group profit at the end of the year is not expected to exceed the previous year's figure.
Measures in production and plants
In response, the company is reviewing temporary shutdowns of individual production lines and furnaces across all sites. One of the two furnaces at the Chişinău plant will be shut down in an orderly manner at the beginning of December and decommissioned for at least six months. The reasons given for this are the Republic of Moldova's dependence on expensive Western European energy imports and the tense political situation in the region.
Companies and markets
Vetropack is one of Europe's leading suppliers of glass packaging for the food and beverage industry and generated net sales of CHF 842.1 million in 2024. Production plants and sales locations are located in Switzerland, Austria, the Czech Republic, Croatia, Slovakia, Ukraine, Italy, Moldova and Romania, among others.
Source: Vetropack
