(Finance) – The board of directors of Zignago Glassmanufacturer of hollow glass containers listed on Euronext STAR Milan, approved the 2021 Consolidated Financial Statements and the draft financial statements as at 31 December 2021. The year ended with revenues equal to 493 million euros (+ 21.2%), of which 152.6 million (+ 24.5%) outside Italy, equal to 30.9% of total turnover. L’EBITDA was 130.3 million euros (+ 22.2% on the previous year and 26.4% on revenues), while theNet income rose to 60 million euros (+ 31.5% on 2020). Cash generation, before investments, amounted to 120 million euros (+ 28.8% versus 93.2 million euros in 2020),net financial debt is 250.5 million euros (257.2 million euros in 2020).
Despite the good results of 2021, given the current macroeconomic scenario characterized by a situation of great uncertainty due in particular to the conflict between Russia and Ukraine, the Board of Directors resolved to propose to the ordinary shareholders’ meeting the distribution of a dividend of € 0.40 for each of the 88,236,525 shares in circulation, equal to a total dividend of 35.3 million euros, compared to the 31.6 million distributed for the 2020 financial year. dividend pay-out is 58.8% of the profit consolidated net.
The group stated that the good pace of demand found in 2021 in the various segments in which it operates continued also in the early 2022. Zignago Vetro also reports that sales and purchases from the areas affected by the conflict between Russia and Ukraine they are almost nil and that the group has no other activities in the aforementioned areas.
What worries the Veneto group is the increase in the costs of energy and raw materials. Zignago Vetro has adopted contracts designed to ensure cost stability for a significant part of the supplies, at least for the current year. “These coverages do not cover all the needs and therefore this translates into a significant increase in costs – it is underlined – Consequently, the companies of the group had to proceed to sales price revisionswhich it is believed could be repeated during the year, should this anomalous situation persist “.