THE COMPANIES of the Zignago Vetro Group produce high quality glass containers for food and drinks, for perfumes and cosmetics, but also special glass bottles for the wine and spirits market, intended for the national and international market. The Group is also active in other strategic and synergistic sectors with the main activity, in particular in that of the collection and treatment of glass cullet aimed at its subsequent reuse and in that of the construction of molds for the production of containers.
The 2023 financial year was characterized by a progressive weakening of demand for glass containers for beverages and foods, which was affected by the general framework of macroeconomic uncertainty, the weakening of final consumption, and, finally, the reduction of stocks along the supply chain by producers and distributors, in particular by large-scale retail trade.
These factors have characterized the entire national market and the wider European market, forcing glassworks to reduce the use of production capacity, to maintain balance in inventory levels. Demand in the global cosmetics and perfumery markets has continued to remain at good levels, in particular that relating to the major cosmetics brands and that of premium perfumery, characterized by high dynamics of new product development. In the market segments with lower positioning, however, signs of contraction have been observed, due both to the decline in final consumption and to high inventory levels.
The fluctuations in demand and the volatility of costs and prices, which characterized the second half of the year, are however short-term elements. The glass container market, in fact, is solid, so much so that the medium-long term expansion prospects of the use of glass, as a packaging material, increasingly appreciated by both users and consumers, hold.
The Group’s consolidated revenues in 2023 amount to 699.4 million euros, compared to 640.8 million in the previous year (+9.1%). Revenues achieved outside Italian territory in 2023 amounted to 224.2 million euros, marking + 12.0% compared to 200.3 million in 2022 and are equal to 35.0% of the total turnover (31.3% in 2022).
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