Zignago Vetro Spa · MIL:ZV
Zignago Vetro Spa — Mid & Small Conference Milan 2025
31 slides from Zignago Vetro Spa's conference presentation, Dec 2, 2025
Slide 1: Company Presentation & Financial Results
Company Presentation & Financial Results Mid & Small Conference Milan 2025 December 2, 2025
Slide 2: Summary
Summary Zignago Vetro Financial results Annex organization SALES AND PROFITABILITY 3 COMPANY STRUCTURE 10 BUSINESS MODEL 12 TRACK RECORD 22 ESG APPROACH FY24 REVENUES & 4 ZIGNAGO HOLDING 11 COMMERCIAL PRESENCE 13 PROFITABILITY FY24 REVENUES & 14 PROFITABILITY BY BU 5 ZIGNAGO VETRO MILESTONES 9M25 RE
Slide 3: Company structure
Company structure 64,0% 36,0% Zignago Holding S.p.A. FREE FLOAT on the ITALIAN 2024 data (MARZOTTO FAMILY) STOCK EXCHANGE Zignago Vetro 324.9 mln€ ZV Group consolidated 615.7 mln€ Vetro Revet 51% 19.0 mln€ (*) Zignago Vetro France Zignago Vetro Polska Vetri Speciali Zignago Glass USA 64.0 mln€ 84.1
Slide 4: Zignago Holding
Zignago Holding Zignago Vetro’s main shareholder is Zignago Holding S.p.A, an industrial holding located in North-East Italy, with assets in a diversified number of sectors and fully owned by the Marzotto Family. Others 64,04% 100% 10,02% 100% Glass containers Renewable Fine wines Fashion/retail ene
Slide 5: Zignago Vetro milestones
Zignago Vetro milestones Acquisition of 3 companies Acquisition of Acquisition of Acquisition of Portogruaro producing specialty Zignago Vetro Vetro Revet: Italian Glass Plant: F&B + containers, later merged into Polska in Poland: recycling of glass Moulds: production C&P + Pharma Vetri Speciali Vet
Slide 6: Business Units
Business Units 2024 (€m) MARKET SEGMENTS PRODUCTS MAIN CHARACTERISTICS COMPETITIVE ADVANTAGE Flexibility, efficiency, and technical know-how are keys to success. Flexibility ZIGNAGO VETRO Food & Beverage Sales € 324.9 Cosmetics & Perfumery Focus on selected segments of food & beverage Quality an
Slide 7: International presence
International presence Trabki, Poland Vieux Rouen sur Bresle & Paris, France Gardolo, Ormelle, San Vito al Tagliamento, Italy New York, USA San Vito al Tagliamento, Italy Portogruaro Borgo Mantovano, Italy Supino, Italy Miami, USA Empoli Fossalta di Portogruaro Italy Empoli, Italy Glass companies Sa
Slide 8: Our core business
Our core business Group 615.7 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: 22,4% 28,4% - Food and Beverage - Cosmetics and Perfumery 5,7% - Specialty Containers T
Slide 9: Our identity
Our identity VALUES Quality and reliability VISION To give form to ideas and substance to creativity. Identity and Flexibility sense of 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 10: 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 11: Commercial presence
Commercial presence Concentration rate of Customer loyalty the first 5 clients1 (revenues)2 Zignago 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 12: Sales and profitability track record
Sales and profitability track record Sales and EBITDA (1988-2024) Euro (m) 699 700 641 616 600 CAGR: +7,9% 493 500 421 407 400 376 337 319 323 291 299 292 302 300 265 257 241 230 209 219 193 200 162 162 133 142 130 136 118 107 104 109 104 82 90 94 93 95 92 100 71 70 71 77 70 67 66 75 81 CAGR: +7,4%
Slide 13: FY 2024 revenues & profitability
FY 2024 revenues & profitability Revenues (€m) EBITDA (€m) 250 31,4% 800 +9,1% 27,7% +30,0% -12,0% 28,1% 26,2% 26,4% 25,3% 22,1% 30% 200 600 +21,2% +11,7% -3,3% 150 20% 400 640,8 699,4 100 219,4 615,7 162,2 493,0 136,2 10% 200 376,5 420,5 406,6 50 104,3 118,1 106,6 130,3 0 0 0% 2018 2019 2020 2021 2
Slide 14: FY 2024 revenues & profitability by BU
FY 2024 revenues & profitability by BU ZIGNAGO VETRO ZIGNAGO VETRO FRANCE Revenues (€m) Revenues (€m) 500 80 -16,2% -13,5% 400 70 300 200 387,8 73,9 324,9 60 100 64,0 0 50 FY 2023 FY 2024 FY 2023 FY 2024 EBITDA (€m) EBITDA (€m) 10,5% 150 40% 8 10,5% 12% 30,1% 30% 100 8% 19,1% 20% 7 116,9 7,8 50 4% 6
Slide 15: FY 2024 revenues & profitability by BU
FY 2024 revenues & profitability by BU VETRI SPECIALI (50%) ZIGNAGO VETRO POLSKA Revenues (€m) Revenues (€m) 200 -10,1% 95 -9,1% 150 90 100 85 167,1 150,3 92,5 50 80 84,1 0 75 FY 2023 FY 2024 FY 2023 FY 2024 EBITDA (€m) EBITDA (€m) 70 35,5% 40% 35 34,2% 40% 26,5% 60 30 27,8% 50 30% 25 30% 40 20 20%
Slide 16: 9M 2025 revenues & profitability
9M 2025 revenues & profitability ZIGNAGO VETRO GROUP Revenues (€m) EBITDA (€m) Net Result (€m) 480 120 35% 36 6,8% 9% 21,7% 470 -4,9% 30% 100 30 460 17,4% 25% 24 6% 450 80 20% 440 60 18 473,7 102,7 15% 32,3 2,9% 430 12 3% 450,3 40 78,3 13,2 420 10% 20 5% 6 410 400 0 0% 0 0% 9M 2024 9M 2025 9M 2024 9
Slide 17: 9M 2025 revenues & profitability by BU
9M 2025 revenues & profitability by BU ZIGNAGO VETRO ZIGNAGO VETRO FRANCE Revenues (€m) Revenues (€m) 255 55 -23,0% +0,2% 50 250 45 245 40 240 250,6 251,2 35 50,1 30 38,6 235 25 230 20 9M 2024 9M 2025 9M 2024 9M 2025 EBITDA (€m) EBITDA (€m) 50 18,4% 8,2% 5 10% 16,0% 30% 40 4 8% 30 20% 3 6% 46,2 20 4
Slide 18: 9M 2025 revenues & profitability by BU
9M 2025 revenues & profitability by BU VETRI SPECIALI (50%) ZIGNAGO VETRO POLSKA Revenues (€m) Revenues (€m) 116 70 -5,0% 114 65 -3,9% 60 112 55 110 50 113,3 65,8 64,0 108 45 108,9 40 106 35 104 30 9M 2024 9M 2025 9M 2024 9M 2025 EBITDA (€m) EBITDA (€m) 35 20 28,0% 35% 26,9% 30 30% 18 30% 21,9% 25 1
Slide 19: ZV Group – Balance sheet
ZV Group – Balance sheet Net Capital Employed (€m) Net Working Capital (€m) and % on Sales 250 35,4% 40% 700 31,3% 29,0% 29,8% 600 200 27,9% 26,3% 23,2% 30% 500 21,3% 150 400 20% 300 602,5 617,3 672,0 621,2 100 184,1 217,9 512,1 178,6 176,7 200 417,2 473,3 487,2 122,0 127,3 104,9 10% 50 87,3 100 0 0
Slide 20: ZV Group – Cash flow from operation & capex
ZV Group – Cash flow from operation & capex Cash Flow from Operations (€m) and % on Sales Capex (€m) 200 30% 140 26,0% 180 24,3% 22,9% 25% 120 160 21,0% 19,6% 100 140 17,7% 20% 120 13,6% 14,7% 80 100 15% 181,9 60 80 10% 94,3 60 120,0 40 83,8 81,6 86,2 105,0 71,9 82,6 93,2 87,4 90,3 66,1 40 79,1 5% 4
Slide 21: Financial structure, EPS & dividends
Financial structure, EPS & dividends Key financial structure ratios EPS and Dividend distribution (Euro) 2,41 2,50 1,60 90% 2,21 2,13 2,08 2,13 1,38 77% 1,40 73% 80% 1,93 1,92 70% 70% 71% 70% 70% 69% 2,00 1,75 70% 1,72 1,20 62% 1,64 59% 54% 60% 1,00 1,50 0,98 50% 0,80 0,68 1,04 0,60 40% 1,00 0,75 1,
Slide 22: Annex: ESG Approach
Annex ESG Approach Mid & Small Conference Milan 2025 December 2, 2025
Slide 23: 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 24: 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 points that are connected to 3 main pillars: ENVIRONMENT PILLARS ESRS-E1: Climate change ES
Slide 25: ESG - Environment
ESG - Environment The Group bases its strategic orientation in the field of sustainability on three main factors: - Reduction of natural resource consumption: The use of glass cullet, which is fully recyclable, reduces the need for virgin raw materials, cutting down on extraction activities and cont
Slide 26: ESG - Environment
ESG - Environment In line with pursuing its strategic sustainability objectives, the Group has developed the following products: Lightweight products (since 2019) - Reduction of weight while maintaining unchanged characteristics; - Lower environmental impact due to reduced use of raw materials; - Op
Slide 27: ESG - Social
ESG - Social The Group has attained the following social achievements: - The female workforce represents 28.3% of the total workforce - Corporate Welfare Plan implemented in ZV Italy - insurance policy extended for situations outside of work - smart-working implemented in all the compatible business
Slide 28: ESG - Governance
ESG - Governance The Group’s governance has an Internal Control and Risk Management The structure of Board of Directors is characterized by independency and gender System, aimed at identifying, measuring and monitoring the principal balance: risks. The main bodies are: 50% Indipendent Directors - th
Slide 29: Certifications
Certifications The Group has elaborated a strategic program for the achievement of various certifications in the next 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 Wit
Slide 30: ESG Rating
ESG Rating The Group has received the following scores in the ESG ratings: CDP CDP Sustainalytics Morningstar EthiFinance Moody’s MSCI S&P Ecovadis Climate Water (since 2021) (since 2021) (since 2020) (since 2019) (since 2020) (since 2023) Change Security 90/100 Not updated Not updated Not updated 2
Slide 31: Contacts: Investor Relations
Contacts: Giovanni Puri Purini Investor Relations Manager [email protected] Zignago Vetro S.p.A. Via Ita Marzotto 8, 30025 Fossalta di Portogruaro (VE) – Italy Tel (+39) 0421 246111 - [email protected]