Zignago Vetro SpA · MIL:ZV
Zignago Vetro SpA — Discover Italy in Paris 2025
37 slides from Zignago Vetro SpA's conference presentation, Jan 30, 2025
Slide 1: Zignago Vetro
ZIGNAGO VETRO
Slide 2: Company Presentation & Financial Results
Company Presentation & Financial Results Discover Italy in Paris 2025 January 30th, 2025
Slide 3: Summary
Summary Zignago Vetro Financial results Annex organization 3 COMPANY STRUCTURE 10 BUSINESS MODEL 12 SALES AND PROFITABILITY TRACK RECORD 22 ESG APPROACH 13 FY22 REVENUES & 4 ZIGNAGO HOLDING 11 COMMERCIAL PRESENCE PROFITABILITY 14 FY22 REVENUES & 5 PROFITABILITY BY BU ZIGNAGO VETRO MILESTONES 16 1H 2
Slide 4: Company structure
Company structure 64,0% 36,0% Zignago Holding S.p.A. FREE FLOAT on the ITALIAN 2023 data (MARZOTTO FAMILY) STOCK EXCHANGE Zignago Vetro 387,8 mln€ ZV Group consolidated 699,4 mln€ Vetro Revet 51% 18,9 mln€ (*) Zignago Vetro France Zignago Vetro Polska Vetri Speciali Zignago Glass USA 73,9 mln€ 92,5
Slide 5: Zignago Holding
Zignago Holding Zignago Vetro is the parent company of a group of glassworks. It is part of Zignago Holding S.p.A, a dynamic organization located in North-East Italy, consisting of a diversified portfolio of businesses controlled and owned by the Marzotto Family. Others Glass containers Renewable Fi
Slide 6: Zignago Vetro milestones
Zignago Vetro milestones Portogruaro Acquisition of 3 companies Acquisition of Acquisition of Acquisition of Italian Plant: F&B + producing specialty Zignago Vetro Vetro Revet: Glass Moulds: C&P + Pharma containers, later merged into Polska in Poland: recycling of glass production of Vetri Speciali
Slide 7: Business Units
Business Units 2023 (€m) MARKET SEGMENTS PRODUCTS MAIN CHARACTERISTICS COMPETITIVE ADVANTAGE Flexibility, efficiency, and technical know-how are keys to success. Flexibility ZIGNAGO VETRO Food & Beverage Sales € 387,8 Cosmetics & Perfumery Focus on selected segments of food & beverage Quality an
Slide 8: International presence
International presence Trabki, Poland Viuex Rouen sur Bresle & Paris, France Pergine Valsugana, Gardolo Ormelle San Vito al Tagliamento Italy Portogruaro San Vito al Tagliamento, Italy Supino, Italy Miami, USA Empoli Fossalta di Portogruaro Italy Empoli, Italy Glass companies Sales office HQ Glass r
Slide 9: Our core business
Our core business Group 699,4 Mln € Zignago Vetro Group is among the leading producers of hollow glass containers in Italy and is one of the most important players on an international level. Our main markets are: 21,5% - Food and Beverage 25,2% - Cosmetics and Perfumery 10,6% - Specialty Containers
Slide 10: Our identity
Our identity VALUES Quality and reliability VISION To give form to ideas and substance to creativity. Identity and sense of Flexibility and MISSION belonging efficiency To give a future to the tradition of glass by creating innovative and sustainable products that improve people’s everyday lives, wh
Slide 11: Business model
Business model PEOPLE An essential and distinctive element of the Group’s success. FLEXIBILITY AND EFFICIENCY Zignago Vetro Group offers products that differ greatly, ranging from standard to customized items, to those offering very significant innovations, up to the production of specialty containe
Slide 12: Commercial presence
Commercial presence Concentration rate of Customer loyalty the first 5 clients1 (revenues)2 Zignavo Vetro 19% 92% ZV France 49% 92% ZV Polska 20% 91% Vetri Speciali 27% 92% 1 Net of intercompany sales 2 Revenues from customers present also in the previous 2 years (net of intercompany sales) COMPANY
Slide 13: Sales and profitability track record
Sales and profitability track record Sales and EBITDA (1988-2023) Euro (m) 700 699 CAGR: +8,5% 641 600 493 500 407 421 400 376 337 319 323 291 299 292 302 300 265 257 241 230 209 219 193 CAGR: +9,1% 200 162 162 133 142 130 104 109 118107 90 94 93 95 92 104 100 62 71 82 64 70 62 71 77 70 67 66 75 81
Slide 14: FY 2023 revenues & profitability
FY 2023 revenues & profitability Revenues (€m) EBITDA (€m) 31,4% 800 +9,1% 250 35% 27,2% 27,7% 28,1% 700 +30,0% 26,2% 26,4% 25,3% 30% 200 600 -3,3% +21,2% 25% 500 +11,7% +11,7% 150 20% 400 640,8 699,4 100 219,4 15% 300 493,0 162,2 10% 200 337,0 376,5 420,5 406,6 50 91,6 104,3 118,1 106,6 130,3 100 5
Slide 15: FY 2023 revenues & profitability by BU
FY 2023 revenues & profitability by BU ZIGNAGO VETRO ZIGNAGO VETRO FRANCE Revenues (€m) Revenues (€m) 500 +8,8% 80 +28,1% 400 60 300 40 73,9 200 387,8 57,7 356,4 100 20 0 0 FY 2022 FY 2023 FY 2022 FY 2023 EBITDA (€m) EBITDA (€m) 10,5% 140 30,1% 35% 9 11% 8 10% 120 30% 22,0% 7 9,7% 100 25% 6 10% 80 2
Slide 16: FY 2023 revenues & profitability by BU
FY 2023 revenues & profitability by BU VETRI SPECIALI (50%) ZIGNAGO VETRO POLSKA Revenues (€m) Revenues (€m) 200 100 +24,7% +0,6% 150 80 60 100 74,2 92,5 166,1 167,1 40 50 20 0 0 FY 2022 FY 2023 FY 2022 FY 2023 EBITDA (€m) EBITDA (€m) 35,5% 70 36,0% 40% 35 34,2% 40% 60 35% 30 35% 50 30% 25 30% 25% 2
Slide 17: 3Q 2024 revenues & profitability
3Q 2024 revenues & profitability ZIGNAGO VETRO GROUP Revenues (€m) EBITDA (€m) Net Result (€m) 560 180 30,9% 35% 120 21% 17,5% 530 160 30% 100 18% -13,9% 140 500 21,6% 25% 15% 120 80 470 100 20% 12% 60 440 545,9 80 168,5 15% 6,8% 9% 95,6 60 40 410 473,7 102,7 10% 6% 40 380 5% 20 3% 20 32,3 350 0 0%
Slide 18: 3Q 2024 revenues & profitability by BU
3Q 2024 revenues & profitability by BU ZIGNAGO VETRO ZIGNAGO VETRO FRANCE Revenues (€m) Revenues (€m) 350 60 -11,1% -17,6% 55 300 50 250 45 40 200 35 30 56,4 50,1 150 304,2 25 100 250,6 20 15 50 10 5 0 0 3Q 2023 3Q 2024 3Q 2023 3Q 2024 EBITDA (€m) EBITDA (€m) 100 29,9% 35% 4,5 12% 90 4,0 30% 8,2% 80
Slide 19: 3Q 2024 revenues & profitability by BU
3Q 2024 revenues & profitability by BU VETRI SPECIALI (50%) ZIGNAGO VETRO POLSKA Revenues (€m) Revenues (€m) 135 80 - 6,2% -14,1% 130 125 60 120 70,5 65,8 132,0 40 115 110 20 105 113,3 100 0 3Q 2023 3Q 2024 3Q 2023 3Q 2024 EBITDA (€m) EBITDA (€m) 36,7% 32,2% 60 40% 25 27,9% 35% 26,9% 50 35% 30% 20 3
Slide 20: ZV Group – Balance sheet
ZV Group – Balance sheet Net Capital Employed (€m) Net Working Capital (€m) 250 30,4% 31,3% 35% 700 29,0% 27,9% 26,3% 21,3% 30% 600 200 23,2% 25% 500 150 20% 400 15% 300 602,5 617,3 649,8 100 178,6 184,1 205,8 473,3 487,2 512,1 10% 200 372,5 417,2 50 102,5 87,3 122,0 127,3 104,9 100 5% 0 0 0% 2017 2
Slide 21: ZV Group – Cash flow from operation & capex
ZV Group – Cash flow from operation & capex Cash Flow from Operations (before capex) (€m) Capex (€m) 28,4% 200 30% 100 180 24,3% 22,9% 25% 160 21,0% 80 19,6% 140 17,4% 20% 120 60 13,6% 100 15% 181,9 94,3 80 40 83,8 81,6 10% 71,9 68,4 60 120,0 66,0 66,1 40 82,6 93,2 87,4 42,7 79,1 75,3 5% 20 58,3 20
Slide 22: Financial structure, EPS & dividends
Financial structure, EPS & dividends Key financial structure ratios EPS and Dividend distribution (Euro) 2,41 80% 2,50 73% 73% 1,60 70% 70% 71% 70% 70% 69% 2,13 2,08 2,13 1,383 70% 1,93 1,92 1,40 62% 2,00 1,75 59% 1,72 60% 1,58 1,64 1,20 0,976 54% 50% 1,50 1,00 1,04 40% 0,80 0,678 1,00 0,605 1,10 1,
Slide 23: Annex: ESG Approach
Annex ESG Approach Discover Italy in Paris 2025 January 30th, 2025
Slide 24: ESG (Environment, Social, Governance)
ESG (Environment, Social, Governance) Our Mission: To give a future to the tradition of glass by creating innovative and sustainable products that improve people’s everyday lives, while taking care of our communities and the environment. ANNEX ESG APPROACH 23
Slide 25: ESG (Environment, Social, Governance)
ESG (Environment, Social, Governance) Aware of its role for the sustainable development, Zignago Vetro has linked its activities to the 2030 Agenda of the United Nations, focusing mainly on the subsequent 13 Goals that are connected to 3 main pillars: Environment Social Governance PILLARS Environmen
Slide 26: ESG - Environment
ESG - Environment 2023 main Environmental achievements vs 2022: – the % of PCR used on total glass produced has decreased by – specific water consumption per ton of melted glass has -9,0% (-2,0% vs 2021); significantly decreased by -24,4% (-51,8% vs 2021); – CO2 specific emissions (Scope 1 and 2) ha
Slide 27: ESG - Environment
ESG - Environment In January 2020 we’ve started a special project dedicated to the reduction of CO2 emissions. The aim is to improve our performance and get significant reduction of CO2 emissions, by focusing on those of Scope 2 and Scope 3. Fuel and energy Upstream and downstream related activities
Slide 28: Certifications
Certifications The Group has elaborated a strategic program for the achievement of various certifications in the next 4 years: Zignago Vetro Zignago Vetro Zignago Vetro Zignago Vetro Italian Glass Vetro Revet Italy (Fossalta) Italy (Empoli) France Polska Moulds ISO 9001 (Product quality) ISO 14001 W
Slide 29: ESG certifications
ESG certifications CDP CDP Sustainalytics Morningstar EthiFinance Moody’s MSCI S&P Ecovadis Climate Water (since (since (since (since (since 2021) (since 2021) Change Security 2020) 2019) 2020) 2023) 90/100 in 2024 A- A- 12,2 in progress in progress BBB 52/100 progress Platinum 85/100 Regional 2023
Slide 30: ESG - Social
ESG - Social 2023 main Social achievements vs 2022: - total workforce has increased by +1,8% (+3,9% vs 2021); - whereas the female workforce represents 34,7% of the total workforce; - Corporate Welfare Plan implemented in ZV Italy; - insurance policy extended for situations outside of work; - smart-
Slide 31: Governance: Board of Directors
Governance: Board of Directors The structure of Board of Directors is characterized by gender and independency balance: Executive Independent Directors Non-Independent Directors Not executive Name and last name Independent Minority list Nicolò Marzotto NE Biagio Costantini E 50% 2023 50% Gaetano Mar
Slide 32: Governance: risk management system & fiscal transparency
Governance: risk management system & fiscal transparency The Group’s governance has an Internal Control and Risk Management System, aimed at identifying, measuring and monitoring the principal risks. The main bodies are: - the Board of Directors; - the Director in charge of the Internal Control and
Slide 33: Governance: ESG Framework
Governance: ESG Framework Since 2019 Zignago Vetro has implemented a complete ESG FRAMEWORK, which is structured as follows: - ESG POLICY - ESG ORGANIZATIONAL STRUCTURE: - ESG COMMITTEE - ESG COORDINATOR - ESG CONSULTANTS - ESG GOVERNANCE: - ESG STRATEGY - ESG POLICIES - ESG’S OBJECTIVES SYSTEM & ME
Slide 34: Environment: KPIs and Goals
Environment: KPIs and Goals TOPIC KPIs 2021 2022 2023 2030 Achieved Goal Achieved Goal Achieved Goal Strategic Goal Raw materials % of PCR used on total glass 49,6% 53,4% 48,6% 70,0% management produced % of recycled packaging or Packaging packaging containing Increased Decreased Decreased Keep Incr
Slide 35: Social: KPIs and Goals
Social: KPIs and Goals TOPIC KPIs 2021 2022 2023 2030 Achieved Goal Achieved Goal Achieved Goal Strategic Goal Outgoing turnover 4,1% 7,4% 8,0% n.a. Human Resources Work-life balance Ongoing Ongoing Ongoing Ongoing management initiatives To be extended in Corporate Welfare plan Implemented in Italy
Slide 36: Governance: KPIs and Goals
Governance: KPIs and Goals 2021 2022 2023 2030 TOPIC KPIs Achieved Goal Achieved Goal Achieved Goal Strategic Goal Fiscal transparency Corruption cases 0 0 0 0 Operative structure and committees able to Ongoing Governance structure Achieved Achieved Achieved guarantee proper level of achievement man
Slide 37: Contacts: Biagio Costantini
Contacts: Biagio Costantini Chief Executive Officer [email protected] Zignago Vetro S.p.A. Via Ita Marzotto 8, 30025 Fossalta di Portogruaro (VE) – Italy Tel (+39) 0421 246111 - [email protected]