Alternative performance measures

Sales development

In its Integrated annual report, Semi-annual report and other publications for investors, Vetropack uses alternative performance measures that are not defined in Swiss GAAP FER as a guide for internal and external reporting to stakeholders. Vetropack uses its own definitions, which may differ from those of other companies.

This section has been prepared in accordance with the Directive on the Use of Alternative Performance Measures of SIX Exchange Regulation AG. The most important alternative performance measures are explained below, and are linked to a key figure according to Swiss GAAP FER.

Organic sales development is determined by adjusting the reported net sales for currency effects. The functional currency of the respective country is taken into account. The net revenues for the reporting year are calculated using the respective exchange rates of the comparison period, and they result in the currency-adjusted net sales.

Adjusted Operating result/ Adjusted Operating result-margin

To present the development of the operating result without the impact of one‑offs, non‑recurring and non-core business effects, the operating result is adjusted to derive the adjusted operating result. Vetropack defines such costs primarily as those arising in connection with the closure of a plant and cost to maintain such closed plant.

Such costs may also include related expenses for shutdown and restart of furnaces, provided these measures are driven by economic rather than technical considerations. In addition, asset impairments and reversal of any recorded impairments due to economic considerations are also adjusted.