In the first half of 2026, Vetropack sold more glass packaging than in the same period last year. According to the company, growth was driven primarily by the beverage packaging business in parts of Central and Eastern Europe. At the same time, earnings and margins came under significant pressure.
In the first half of the year, the net revenues of the Vetropack Group amounted to 404.6 million Swiss francs, which was 2.0 percent below the previous year's figure. At constant exchange rates, however, this represented growth of 0.7 percent. Overall, the production volume sold was higher than in the previous year. Vetropack attributes this primarily to an upturn in the beverage packaging business in parts of Central and Eastern Europe.
Margin pressure weighs on earnings
Operating profit fell from 20.5 to 11.8 million Swiss francs. Adjusted for capacity adjustment costs, it stood at 16.6 million Swiss francs. The adjusted operating profit margin decreased from 5.5 to 4.1 per cent.
According to Vetropack, the negative factors included geopolitical uncertainties as well as rising energy and transport costs. Additional factors were the consequential costs arising from the closure of the Swiss site in St-Prex and the temporary shutdown of one melting furnace each in Kremsmünster in Austria and Chișinău in the Republic of Moldova. Staff numbers fell by 7.9 per cent compared to the previous year.
Investments in Austria and Slovakia
Capital expenditure on property, plant and equipment fell from 22.8 to 19.1 million Swiss francs. The largest individual projects included the modernisation of production facilities in Pöchlarn in Austria and Nemšová in Slovakia.
Vetropack has also revised its corporate strategy. With „Strategy 2035“, the glass packaging manufacturer aims, among other things, to optimise its product mix, increase efficiency and make its production infrastructure more flexible. The strategy is scheduled to be published on 16 September 2026.
Outlook for 2026 raised
For the full year, Vetropack now expects sales volumes and currency-adjusted net revenues to exceed the previous year. Previously, the company had anticipated a decline. At the same time, Vetropack confirms its expectation of a slightly higher operating margin compared to 2025.
In the medium term, the Group is aiming for above-market revenue growth in the low single-digit percentage range by 2030, as well as a double-digit operating margin.
Source: Vetropack
