(Telestock) – Zignago Glassa producer of hollow glass containers listed on Euronext STAR Milan, closed the first half of 2024 with consolidated revenues equal to 329 million euros, compared to 384.8 million euros in the corresponding period of the previous year (-14.5%). Revenues generated outside Italy amount to 112.6 million euros and represent 34.2% of revenues (122.7 million euros and 31.9% in the same period of 2023).
L’Consolidated EBITDA is equal to 73.8 million euros, -38.6%, and represents 22.4% of revenues (31.3% in the first half of 2023). TheConsolidated net profit in the semester is 26.3 million euros, compared to 74.6 million euros in the same period of 2023 (-64.8%).
The Free cash flowafter the payment of investments (52 million euros) and dividends (66.4 million euros) is -69 million euros, compared to +20.3 million euros at 30 June 2023. Thenet financial debt of the Group as of June 30, 2024, is equal to 297.6 million euros, compared to 227.9 million euros as of December 31, 2023 and 261.2 million euros as of June 30, 2023.
Zignago Vetro believes that the prolonged phase of weak demand of glass containers for Beverage and Food that also characterized the second quarter of 2024, may continue beyond initial expectations and therefore extend to the entire second half of the year, with the prospect of a gradual recovery in the next financial year. Also in the market of containers for Cosmetics and Perfumery, especially in the luxury one, demand is expected to remain weak.