Notes

Consolidation principles

The unaudited semi-annual report of the Vetropack Group as at 30 June 2026 was prepared in accordance with Swiss GAAP FER 31. In contrast to the annual financial statements, Swiss GAAP FER 31 allows abridged reporting and disclosures. The consolidation principles remain unchanged from those disclosed in the Annual report 2025.

Valuation principles

The valuation principles applied in the preparation of the semi-annual report are unchanged from those disclosed in the Annual Report 2025 Annual report 2025.

1. Segment reporting

The segment reporting used at the top management level for corporate management has just one significant segment ("Glass packaging"). The secondary segment "Speciality glass" comprises only trade revenue in Switzerland (Müller + Krempel Ltd).

Net sales by supplying country

¹ see also Alternative performance measures (Sales development)

The Vetropack Group does not publish details of its segment results, because there is a significant risk that this could cause competitive disadvantages. The markets in which Vetropack operates are narrow niche sectors, with a small number of primarily private suppliers that could draw conclusions about margins and pricing based on the segment reporting.

2. Costs related to plant / furnace closure and asset value adjustments

In the first half of 2026, the line item “Costs related to plant / furnace closure and asset value adjustments” includes expenses incurred in connection with the closure of the plant and the ongoing costs of maintaining the closed facilities in St-Prex, Switzerland. As cullet generated at the closed site can no longer be used locally, it must be exported, resulting in additional logistics and handling expenses. The reduced economic viability of processing these cullet volumes is therefore a direct consequence of the plant closure.

In addition, the line item includes expenses related to the economically driven shutdown of a furnace in the Republic of Moldova. Furthermore, it includes expenses and asset value adjustments related to the economically driven shutdown of a furnace in Austria.

In the first half of 2025, the line item included personnel expenses of CHF 0.5 million and other operating expenses of CHF 1.6 million in connection with the closure of the production site in St-Prex.

3. Extraordinary result

In the first half of 2026 costs of CHF 0.2 million (2025: CHF 1.0 million) for clean-up and repair work at the Gostomel glass factory are included. In the first half 2025, in addition, value adjustments on fixed assets of CHF 0.3 million) could be released and the position contained income of CHF 0.2 million in connection with flat-rate tax credits.

4. Income taxes

The tax effect of unrecognised tax loss carryforwards as at 30 June 2026 amounts to CHF 5.3 million (2025: CHF 5.9 million). Recognition of these tax loss carryforwards would reduce income tax expense accordingly.

In December 2021, the OECD published the Pillar Two Model Rules introducing a global minimum tax rate of 15% for multinational groups with consolidated revenues exceeding EUR 750 million.

During the reporting period, the Group reassessed its Pillar Two tax position based on additional information and updated evaluations. As a result of this reassessment, the related provision was no longer considered necessary and was therefore released.

5. Earnings per share

Basic earnings per share are calculated by dividing the consolidated profit attributable to the shareholders of the Vetropack Group by the weighted average number of outstanding shares during the reporting period.

Diluted earnings per share are calculated using the same method as basic earnings per share for both share categories, as there are no dilutive instruments outstanding.

6. Events after the balance sheet date

No events occurred between 30 June 2026 and 20 August 2026 (approval of the consolidated semi-annual report by the Board of Directors) that would result in an adjustment to the carrying amounts of assets and liabilities or would need to be disclosed here.