Zignago Vetro — Management Reports 2017

Nov 10, 2017

Zignago Vetro Group

Company Overview

Zignago Holding Group Structure

Milestones

A proven track record of successful acquisitions in and outside Italy across different Glass sectors

Presence in Selected Business Segments

2016 (€m)	Market Segment	Products	Main Features	Competitive Strengths
Zignago Vetro Sales €183.2m	Food & Beverage		Flexibility, efficiency and technical know-how key for success Focus on selected segments	 Flexibility  Quality
	Cosmetics & Perfumery		of food & beverage and cosmetics & perfumery
Verreries Brosse	Luxury		Extraordinary high-quality, tailor made product offering and efficiency	 Quality
Sales €51.4m	Perfumery		Focus on high-end perfumery market	 Innovation
Huta Szkła Czechy	Food & Beverage Cosmetics & Perf.		Wide range of personalised products for niches of the global market of glass containers for	 Personalization
Sales €23.2m			cosmetics and perfumery, and for food and beverages	 Small-run production
Vetri Speciali	Specialty Containers		Highly customized specialty glass containers produced in very short	 Personalization
Sales €68.9m (50%)			runs with strong focus on efficiency	 Small-run production
Vetreco Sales €4.1m (30%)	Cullet Recycling		Forefront technology to reprocess cullet to the highest standards of color separation to yield the best quality of finished cullet	 Located in a strategic area with strong potential to grow

Manufacturing Facilities – international presence

International presence with manufacturing plants in strategic European areas. Balanced revenues across the sectors focusing on niche areas and best mix opportunities

Business model and Client Relationships

	Concentration rate of first 5 clients 2	Customer loyalty1 (Revenues)
Zignago Vetro	16%	92%
Verreries Brosse	47%	93%
Vetri Speciali	25%	95%
HSC	22%	87%

1 Revenues from clients present also the 2 previous years

ZVG - Commercial presence

Financial Performance

Zignago Vetro Group: Sales and Profitability Track Record

9M 2017 Revenues & Profitability

9M 2017 Revenues & Profitability

Capex mainly depends on furnaces refurbishment and capacity increase

Financial structure, EPS and dividends

Pay out guidance: 70% of net group result