- Interview CEO
- Vetropack Locations
- Market environment offering opportunities and challenges
- Business model
- Strategy 2030
- Management Structure
- Organisation
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- Material Topics and Performance Review
- Customers and suppliers
- Finances
- Innovation and intellectual property
- Production and products
- Employees
- Environment
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- New designs
- Financial Report
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- At a Glance
- Financial Report Vetropack Group
- Consolidated Balance Sheet
- Consolidated Income Statement
- Consolidated Cash Flow Statement
- Changes in Consolidated Shareholders’ Equity
- Consolidation Principles
- Valuation Principles
- Notes
- Ownership Structure
- Company Participations
- Report of the statutory auditor on the consolidated financial statements
- Five Year Overview
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- Financial Report Vetropack Holding Ltd
- Balance Sheet
- Income Statement
- Notes
- Board of Directors’ (BoD) Proposal for the Corporate Profit Appropriation
- Report of the statutory auditor on the financial statements
- Five Year Overview
- Corporate Governance
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- Introduction
- Board of Directors
- MB Members
- Remuneration and Additional Information
- Shareholders’ Participation Rights
- Auditors
- Information Policy
- Contact Address
- Remuneration Report
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- Introduction
- Principles of the Remuneration Scheme and its Components Audited Information
- Organisation and Authorities for Determining Remuneration
- Description of the Remuneration Components
- Board of Director’s Remuneration
- Management Board’s Remuneration
- Comparison of Remuneration disbursed with the Remuneration approved by the 2018 and 2019 Annual General Assembly
- Shareholdings
- Report of the statutory auditor on the remuneration report
- Sustainability Report
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- Sustainability Report
Foundations
for successBusiness model
Leadership in Quality
At Vetropack Group, leadership in quality is the most important key to success. This is why quality is considered at every step, from production through to accounting, and from engineering through to sales. For this reason, quality – as part of the claim “Leadership in Quality” – is also at the heart of Vetropack Group’s revamped presentation of its business model, which illustrates the Group’s integrated understanding of value creation. Instead of focusing merely on financial success, this philosophy also emphasises the many different resources Vetropack needs in order to create lasting value for its customers, shareholders, employees, partners along the value chain and the environment. In this, it relies on a corporate culture centred around team spirit and cooperation within its diverse workforce in different countries around the world.
Resources used
Customers and suppliers
A broad customer base and partnerships built on trust are key drivers of value creation at Vetropack. They allow the company to plan for the future, try out new things and grow together as we overcome challenges. The close cooperation between customers, Vetropack’s own specialists, external designers and mould-makers enables efficient development work and results in winning products.
Finances
Vetropack Group’s strategy is geared towards ensuring the company’s long-term development that takes account of its stakeholders’ interests, an approach in line with the expectations of Vetropack Group’s majority shareholders. As Vetropack’s growth is largely financed from its own resources, the company places great value on increasing cash flow and improving profitability as this ensures financing for its continued development. Long-term supply and purchase agreements help Vetropack to achieve a high level of financial certainty in its planning, facilitating targeted investments.
Innovation and intellectual property
Vetropack focuses on innovation in its products, processes and organisational structure in order to continue meeting its customers’ requirements with innovative, high-quality and environmentally sustainable products in the future too. Besides the systematic management of its intellectual property (patents), Vetropack also, and in particular, engages its customers and suppliers in a close dialogue that stimulates both process and product innovations and thus makes a direct contribution to improving efficiency for both sides.
Production and products
As part of the Vetropack production system, Vetropack works to implement lean production principles and systematically reduce inefficiencies of all kinds. The company also applies uniform quality standards and checks each individual glass container in order to achieve outstanding product quality. Vetropack continuously improves all the processes along its value chain in the spirit of “One brand, one quality”, making increasing use of digital tools and automation solutions. As well as bringing Vetropack efficiency savings, this also meets its customers’ need for comprehensive information on product quality.
Employees
Vetropack’s sustainable growth and market success are underpinned by dedicated, highly qualified staff and an experienced management team. To stay innovative and competitive, Vetropack focuses on providing targeted continuing professional development for its employees and fostering talent in a systematic way. Alongside practical on-the-job training schemes, all Vetropack staff have access to a training centre in Austria. Attractive career opportunities within the Group also open up prospects for staff that help keep their wealth of expertise within the company.
Environment
Vetropack aims to be as environmentally sustainable as possible in its production and has made using natural resources sparingly a key tenet of its corporate strategy. Most notably, the large amount of energy required in the glassmaking process poses a particular challenge, one that Vetropack is tackling by continuously modernising its production facilities and implementing an energy management system.
Core processes
Customer relationships in the spirit of partnership
Vetropack’s holistic value creation is based on customer relationships in the spirit of partnership. A strong level of demand on the glass container market has prompted Vetropack to invest more than the industry average in an effort to increase the availability of its products. This allows the company to retain the loyalty of key customers and attract new ones. With consumers becoming increasingly aware of the benefits of glass packaging, new acquisition opportunities are also opening up, such as in the markets for dairy products, functional beverages and low-alcohol and alcohol-free beers.
Needs-based product development
Developing tailored, high-quality glass packaging requires Vetropack to work closely with the customer right from the start, regardless of who actually provides the idea for the innovation process. This is because external designers are often commissioned to come up with a design in addition to the ideas drafted by the customers themselves. Either way, a comprehensive list of requirements that the future glass packaging has to meet needs to be specified so that the development work can be progressed efficiently. In an initial phase, precise 3D models simplify the decision-making process. Once the concept has been developed further using wooden, acrylic or 3D printed models, it is fine-tuned on the bottling line. This is how Vetropack gets innovative solutions market-ready quickly and successfully.
Service plus+
Vetropack offers its customers a comprehensive range of products and services that goes well beyond making glass packaging. Its services cover packaging design, high-quality production and on-time supply, packaging analysis advice and support, bottling, conditioning and closure technology, glass finishing and labelling, and even the calculation of environmental footprints. Vetropack thus helps its customers optimise all the process steps involved in launching a new type of glass packaging.
Demand-driven planning
Vetropack strives constantly to optimise the planning for and availability of its products. It uses demand forecasts to align all processes – from purchasing the raw materials and planning production through to shipping the finished products – with one another in the best possible way to maximise capacity utilisation in all its production facilities. This includes simplifying the product mix at some sites as part of a colour campaign strategy in order to use facilities more efficiently and increase flexibility.
Efficient production
To enable energy-efficient production at an optimum cost level, Vetropack invests continuously in more efficient, more flexible production lines that can also process smaller batches and multiple product segments. This allows the company to respond more effectively to seasonal demand peaks in the beverage market. As part of its digitalisation roadmap, Vetropack is making targeted use of the opportunities presented by automation and digitalisation to simplify repetitive production and administration processes. The company is also ensuring that energy consumption and the associated CO2 emissions are reduced by implementing an energy management system that it developed itself.
Circular economy
Vetropack’s business model supports the transition to a circular economy as it is based on natural raw materials that can be recycled almost infinitely. Following its pioneering work in glass recycling back in the 1970s, Vetropack now collects used glass for recycling in all the countries in which it operates glassworks. This is because white and amber glass can be made with up to 60% used glass, whereas the figure for green glass can be as high as 100%. Vetropack works with special-purpose associations in many countries to maximise collection rates. The company is also promoting the development of multi-trip bottles, some of which are made from resource-efficient lightweight glass (VIP Glass) and are thus even easier to handle.
Value generated
Customers
Vetropack Group’s customers can rely on an experienced partner in a strong market position that offers an extensive range comprising over 2,500 different kinds of glass packaging. Even when faced with the most detailed of requirements, Vetropack develops innovative, cost-effective solutions that meet the highest quality standards, thus helping to increase the value of its customers’ brands. Vetropack also supports its customers in making lasting improvements to their entire process chain, from development through to bottling.
Performance Review: Customers and suppliersPerformance Review: Innovation and intellectual propertyPerformance Review: Production and productsShareholders
Vetropack Group generates robust, profitable growth by focusing its corporate strategy on the long term and making continuous investment in its production facilities and recycling systems. This has allowed the company to pay a dividend to its shareholders for many years now.
Performance Review: FinancesPartners along the value chain
Vetropack Group places great value on treating its stakeholders as partners and, in particular, on strengthening relationships with strategically important suppliers. These benefit from long-term business relationships and supply agreements and thus from a high degree of certainty in their forecasting and planning.
Performance Review: Customers and suppliersEmployees
Much of Vetropack Group’s market success is driven by its employees. In exchange, they can rely on an employer that offers stable and attractive jobs. Staff also benefit from a wide range of professional development opportunities, strengthening their bond with the company. Many employees also appreciate working for a sustainable company with whose products they can identify.
Performance Review: EmployeesEnvironment
Investing in state-of-the-art production facilities generates efficiency savings that deliver benefits not least for the environment, because cutting energy consumption also steadily reduces CO2 emissions. Vetropack also uses a high percentage of used glass in its production and thus contributes to an environmentally friendly circular economy.
Performance Review: Environment
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- Sustainability Report
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- Material Topics and Performance Review