Letter to shareholders - Semi-annual report 2026

In the first half of 2026, Vetropack was able to stabilise sales compared to the equivalent period in the previous year. We are cautiously optimistic that we can maintain this level in the second half of the year. In a market environment that continued to be challenging, profitability remained under pressure despite continued capacity management, cost discipline and efficiency increases.

As announced, with the change of CEO that took place at the beginning of 2026, we took the opportunity to review our strategy. Our Extended Management Board and many other employees provided substantial support for this process with their in-depth knowledge and outstanding commitment. As a result, the Board of Directors approved the revised Strategy 2035, as well as publishing our very first medium-term financial outlook for 2030.

Strategy 2035 strengthens Vetropack’s position as a provider of innovative packaging and service solutions, creating additional customer benefits along the value chain. To implement this strategy, specific measures were defined for improvements in efficiency, optimisation of the product mix, plus targeted initiatives for market development and growth. Customer orientation and sustainability remain two key principles of our activities.

Today more than ever, high-quality packaging must combine functionality, brand impact and environmental responsibility. This is what Vetropack stands for today and will continue to stand for in the future. We will continue to invest carefully in adapting our production for more flexibility and productivity, as well as in market development.

With Rezon, we are opening up new ways for beverage brands to combine lasting aesthetic appeal with reusability and a lower total cost of ownership. At our Pöchlarn site, we are preparing for series production that is set to begin before the end of this year. And since the first half of 2026, we have provided Europe’s lightest 0.75-litre bottle, our new Rhinewine bottle, alongside a new reuse scheme for the Austrian wine sector.

Many thanks to our customers for the trusted partnerships. As a solution provider, we want to create long-term value by supporting you every day with technical expertise, flexibility and reliability.

Thank you, too, to our colleagues across the whole Group. It is only thanks to your commitment that we can lead day-to-day operations successfully, while implementing ambitious projects that shape Vetropack’s continued development. Together, we lay the foundation for shared success.