Alternative performance measures

In its Integrated Annual Report, Semi-Annual Report and other publications for investors, Vetropack uses alternative performance measures that are not defined by Swiss GAAP FER for internal and external reporting purposes. Vetropack applies its own definitions, which may differ from those used by other companies.

This section has been prepared in accordance with the Directive on the Use of Alternative Performance Measures issued by SIX Exchange Regulation AG. The most important alternative performance measures are explained below and reconciled to the most directly comparable Swiss GAAP FER measure.

Organic sales development is determined by adjusting reported net sales for currency effects. To calculate currency-adjusted net sales, revenues for the reporting period are translated using the exchange rates of the comparative period based on the respective functional currencies.

Sales development

Adjusted Operating result/Adjusted Operating result-margin

To present the development of operating profit excluding the effects of one-off, non-recurring and non-core business items, operating profit is adjusted to derive adjusted operating profit. Vetropack defines such items primarily as costs arising from plant closures and costs incurred to maintain closed facilities.

Such items may also include expenses related to the shutdown and restart of furnaces, provided these measures are driven by economic rather than technical considerations. In addition, impairment charges and reversals of impairment losses resulting from economic considerations are adjusted.