Notes

1. Information on the principles applied in the annual financial statement

The annual financial statement has been prepared in accordance with the provisions of Swiss law, in particular the articles governing commercial accounting and financial reporting in the Swiss Code of Obligations (CO) (Arts. 957 ff).

2. Range of full-time positions averaged across the year

As in the previous year, the company employed between 50 and 250 people in the year under review.

3. Participations

The overview here provides a breakdown of the participations held directly or indirectly by Vetropack Holding Ltd.

In 2024, contributions were made to the reserves at Vetropack Austria Holding AG in the amount of EUR 45.0 million (CHF 44.0 million), and at Vetropack Italia S.r.l. in the amount of EUR 15.0 million (CHF 14.9 million).

In 2023, contributions were made to the reserves at Vetropack Austria Holding AG in the amount of EUR 37.5 million (CHF 36.8 million), and at Vetropack Italia S.r.l. in the amount of EUR 12.5 million (CHF 12.2 million).

4. Short-term interest-bearing financial debts

On the reporting date there are short-term interest-bearing financial debts to Raiffeisen Bank International AG, Vienna in the amount of CHF 8.0 million (2023: CHF 0.0 million).

5. Derivative financial instruments

As at 31 December 2024, Vetropack Holding Ltd has open currency swaps in the amount of EUR 70.0 million (CHF 66.0 million) with a positive market value of CHF 1.2 million (2023: EUR 61.1 million (CHF 56.6 million) with a negative market value of CHF 1.1 million).

6. Total amount of securities provided for third-party liabilities

7. Joint liability

In the framework of VAT group taxation, all affiliated Swiss companies within the Vetropack Group are jointly and severally liable for total debt owed to the federal tax authorities.

8. Contingent liabilities

The Vetropack Group operates a cash pooling system for which Vetropack Holding Ltd performs the function of pool master. As a result of the cash pooling agreements with the banks, the pool master has a liability for possible negative balances in the participating pool accounts.

9. Off-balance-sheet transactions

As of 31 December 2024, there were unrecognised leasing obligations in the amount of CHF 0.3 million (2023: CHF 0.3 million). CHF 0.2 million (2023: CHF 0.2 million) is due within 1 to 2 years, and CHF 0.1 million (2023: CHF 0.1 million) is due within 3 to 5 years.