Company presentation May 2020 - Zignago Vetro
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Company presentation
May 2020
Group Structure
FREE FLOAT
Zignago Holding S.p.A.
on the
(MARZOTTO FAMILY)
ITALIAN STOCK EXCHANGE
65% 35%
100%
Santa Margherita
Wine producer
Zignago Vetro 2018
ZV Group consolidated
230,1 Mln € 420,5 mln €
Zignago Power
100%
51% Vetro Revet
Biomass electricity producer
100% 50% 100% 100% 7,3 mln € (*)
Zignago Vetro Brosse Vetri Speciali Zignago Vetro Polska
56,9 mln € 186,3 mln € (*) 49,4 mln € 30% Vetreco
10% 15,5 mln € (*)
Hugo Boss
Fashion apparel
Zignago Glass USA 50% Julia Vitrum
0,6 mln € (start up phase)
Others
*100% of turnover
Note: in 1H19 Verreries Brosse has been renamed as Zignago Vetro Brosse and Huta Szkła Czechy as Zignago Vetro Polska
2
Milestones
Portogruaro plant: Acquisition of specialty containers production Acquisition of Vetro Revet:
Vetreco: cullet recycling
F&B + C&P plants, then merged into Vetri Speciali cullet recycling
1979 1987 1994 1995 2002 2004 2007 2011 2013 2017 2019
Acquisition of Empoli Acquisition of VB in Listing on the Italian Stock Acquisition of HSC in Julia Vitrum (start up):
plant: F&B France: luxury perfumery Exchange Poland: C&P + F&B cullet recycling
A proven track record of successful acquisitions in and outside Italy across different Glass sectors 3
Presence in Selected Business Segments
2019 (€m) Market Segment Products Main Features Competitive Strengths
Flexibility, efficiency and
Food & technical know-how key for
Zignago Vetro
Beverage success Flexibility
Sales € 230.1m
Focus on selected segments
Quality
Cosmetics & of food & beverage and
Perfumery cosmetics & perfumery
Zignago Vetro Brosse
Extraordinary high-quality, tailor-
made product offering and
Quality
Luxury
efficiency
Sales € 56.9m Perfumery Focus on high-end perfumery
Innovation
market
Wide range of personalised
Zignago Vetro Polska Food & products for niches of the global Personalization
Sales € 49.4m Beverage market of glass containers for
Cosmetics & cosmetics and perfumery, and for Small-run production
food and beverages
Perf.
Vetri Speciali Specialty
Highly customized specialty glass
containers produced in very short
Personalization
Sales € 186,3m Containers runs with strong focus on
efficiency Small-run production
Vetreco
Sales €15,5m
Cullet
Recycling
Forefront technology to reprocess
cullet to the highest standards of
Located in a strategic
areas with strong
color separation to yield the best
Vetro Revet potential to grow
quality of finished cullet
Sales
€7,3m
Julia Vitrum (start up)
4
Manufacturing Facilities – international presence
Geographical Presence Manufacturing Locations Revenues breakdown (2019 FY)
Facility Location
Portogruaro,
(Venice) Italy
Empoli
(Florence) Italy
Vieux Rouen sur Bresle
(Normandie)
France
Trabki (Warsaw)
Poland
(decoration facility located with
glass manufacturing)
Ormelle (Treviso)
Italy
Julia Vitrum
Pergine Valsugana (Trento)
Gardolo (Trento)
Vetro Revet
Italy
Vetreco San Vito al Tagliamento
(Pordenone) Italy
International presence with manufacturing plants in strategic European areas.
Balanced revenues across the sectors focusing on niche areas and best mix opportunities
5
Business model
Production of glass containers dedicated to a broad spectrum of sectors/markets, with
a wide range of products: different colours, shapes and dimensions. High content of
product innovation and customization.
Standard
Customized
Innovative
Specialty
6
Commercial Presence and Customer Relationships
Concentratio Customer
n rate of first loyalty1
5 clients 2 (Revenues)
Zignago Vetro 15% 92%
ZV Brosse 53% 93%
Vetri Speciali 27% 94%
ZV Polska 26% 73%
1 Revenues from clients present also the 2 previous years
2 Net of intercompany sales
7
Zignago Vetro Group: Sales and Profitability Track Record
Sales and EBITDA (1988-2019)
CAGR: +7,9%
Euro (m)
CAGR: +8,3%
8
Financial Performance – Zignago Vetro Group
Revenues (€m) EBITDA (€m)
27,7% 28,1%
130 27,2% 30%
450 25,1%
120 23,6%
400 25%
110
350 100
300 90 20%
+11.7%
250 +11.7% 80 15%
200 +1.4% +4.4% 420,5 70 118,1
337,0 376,5 60 104,3
150 318,5 322,9 91,6 10%
100
50 75,1 80,9
40 5%
50 30
0 20 0%
2015 2016 2017 2018 2019 2015 2016 2017 2018 2019
EBITDA (€m) Margin (%)
EBIT (€m) Net Result (€m)
60 12,0% 12,6% 14%
11,8%
50 9,7% 12%
9,1%
40 10%
8%
30
53,1 6%
20 39,8 45,0
29,0 31,2 4%
10 2%
0 0%
2015 2016 2017 2018 2019
Net Results (€m) Margin (%)
9
1Q 2020 Revenues & Profitability
ZIGNAGO VETRO GROUP
Revenues (€m) EBITDA (€m) Net Result (€m)
120 30 30% 12 10,4% 12%
25,8% 24,4%
100 25 25% 10 10%
80 20 20% 8 6,9% 8%
60 +8.3% 15 15% 6 6%
100,6 109,0 26,0 26,5 10,5
40 10 10% 4 7,5 4%
20 5 5% 2 2%
0 0 0% 0 0%
1Q 2019 1Q 2020 1Q 2019 1Q 2020 1Q 2019 1Q 2020
EBITDA (€m) Margin (%) Net Results (€m) Margin (%)
Net rersult impacted by 2,5 mln euro
unrealized exchange difference
Euro/PLN on a loan in euro from
Zignago Vetro to Zignago Vetro Polska.
101Q 2020 Revenues & Profitability by BU
ZIGNAGO VETRO ZIGNAGO VETRO BROSSE
Revenues (€m) Revenues (€m)
20
60
50 15
40
30 +24.6% 63,9 10
51,3 17,8
-32.8%
20 5 12,0
10
0 0
1Q 2019 1Q 2020 1Q 2019 1Q 2020
EBITDA (€m) EBITDA (€m)
24,3% 24,4% 19,8%
18 25% 5 20%
15 20% 4 15%
12 3
15% 10%
9
15,6 10% 2 3,5
6 12,5 5%
1
3 5%
0 -0,4 0%
0 0% 1Q 2019 1Q 2020
1Q 2019 1Q 2020 -1 -5%
-3,4%
EBITDA (€m) Margin (%)
EBITDA (€m) Margin (%)
111Q 2020 Revenues & Profitability by BU
VETRI SPECIALI (50%) ZIGNAGO VETRO POLSKA
Revenues (€m) Revenues (€m)
25 15
20 12
15 9
+0.7% -2.3%
22,5 22,7 6 11,9 11,7
10
5 3
0 0
1Q 2019 1Q 2020 1Q 2019 1Q 2020
EBITDA (€m) EBITDA (€m)
29,8%
8 31,2% 31,8% 35% 4 24,9% 30%
30% 25%
6 25% 3
20%
20% 3,5
4 2 3,0 15%
7,0 7,2 15%
10%
2 10% 1
5% 5%
0 0% 0 0%
1Q 2019 1Q 2020 1Q 2019 1Q 2020
EBITDA (€m) Margin (%) EBITDA (€m) Margin (%)
12Zignago Vetro Group - Balance Sheet
Net Capital Employed (€m) Net Working Capital (€m)
30,4% 29,0%
500 140
24,8% 23,2% 30%
120
400 25%
100
300 80 20%
473,3 465,8 60 122,0 123,4 15%
200 372,5 417,2 102,5
311,9 40 80,1 87,3 10%
100 20 5%
0 0 0%
2016 2017 2018 2019 1Q 2020 2016 2017 2018 2019 1Q 2020
Net working Capital (€m) on sales (%)
Net Equity (€m) Net Financial Debt (€m)
240 280
200 240
200
160
160
120 221,9 228,0
200,1 120 251,4 237,9
80 177,5 195,5 217,1
155,5 80 156,4
40 40
0 0
2016 2017 2018 2019 1Q 2020 2016 2017 2018 2019 1Q 2020
13Zignago Vetro Group - Cash Flow From Operations and Capex
Cash Flow from Operations (before capex) (€m) Capex (€m)
90 100
75 80
60
60
45 94,3
79,1 82,6
40
72,0
30 58,3 66,0 66,1
54,3
20
15 24,5
4,7
0 0
2016 2017 2018 2019 1Q 2020 2016 2017 2018 2019 1Q 2020
14Financial structure, EPS and dividends
Key financial structure ratios EPS and Dividend distribution (Euro)
2,50 0,80 72% 74% 74%
71% 71% 71%
2,13 2,13 71% 71% 70% 70%
2,08 0,70 70%
1,93
2,00 0,60
1,72 0,60
1,58 1,64 0,51
0,45 60%
1,50 0,50
1,31 0,422
0,38 0,40
1,07 0,40 0,35 0,35 0,360
0,98 0,33 0,320
0,282 0,30 50%
1,00 0,273 0,27
1,10 1,13 0,30 0,250 0,235 0,252
1,08 0,220
1,01 0,200
0,89
0,82 0,81 0,20
0,50 0,70 0,73 40%
0,64
0,10
0,00 0,00 30%
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Indeb. Fin. Netto / EBITDA
EPS Div per share Pay out %
Indeb. Fin. Netto / Patr. Netto
Pay out guidance: 70% of net group result
15ESG: Environment Social Governance
Our sustainable business approach
Zignago Vetro Mission:
To produce and market hollow glass containers for a range of market segments, in particular the food and
beverages and cosmetics and perfumery sectors, with a particular focus on sustainability and with the aim of
providing its customers with high quality, safe products while guaranteeing its shareholders and stakeholders
ongoing value creation.
2020 Annual ReportEnvironment Social Governance
Glass: the perfectly sustainable raw material
TRANSPARENCY, ELEGANCE & IDENTITY PERFECT PRESERVATION
FOOD SAFETY TOTAL AND INFINITE RECYCLABILITY
Hygienic, healthy, eco-friendly, infinitely recyclable and safe, glass is considered by the 78% of European consumers as the best
packaging available in the Friends of Glass 2018 survey.Environment Social Governance
Glass at the heart of a sustainable world:
- Glass adapts perfectly to a circular economy as
it is 100% recyclable, for an infinite number of
times, and without deteriorating the quality of
the new container;
- For this reason, in the future, glass will
increasingly be one of the alternatives to plastic
and all packaging and non-recyclable
materials;
- Zignago Vetro aims to be a leader in the
circular economy: glass cullet is indeed our
main raw material and we deeply invest in glass
cullet treatment plants through three
companies (Vetreco S.r.l, Vetro Revet S.r.l and
Julia Vitrum S.p.A.).Environment Social Governance
To fully spread and implement the sustainability principles within its business culture, Zignago Vetro has decided to build a complete
ESG FRAMEWORK, which is structured as follows:
- ESG GOVERNANCE: the Board of Directors has appointed an internal ESG Committee, made up of 7 Top Managers;
- ESG COORDINATOR: he guarantees, manages and improves the implementation of the ESG principles within the
company;
- ESG CONSULTANTS: external experts which provide for advise on ESG topics;
- ESG POLICIES: integrated in all the operative procedures of the Group;
- ESG’S OBJECTIVES SYSTEM & MEASUREMENT OF THEIR ACHIEVEMENT: ESG objectives are set annually within a specific
roadmap. Also, since 2020, Zignago Vetro has associated them to an incentive remuneration policy for Directors
and Managers;
- ESG STRATEGY: starting from the 2030 Agenda of the United Nations, the Committee has set an Agenda until 2025,
with intermediate goals and a list of KPIs for the Group.
The ESG framework has been integrated into our corporate strategy, with the aim to get a complete alignment of internal and
external stakeholders' interests.Environment Social Governance
Aware of its role for the sustainable development, Zignago Vetro has linked its activities to the 2030 Agenda of the United Nations,
focusing mainly on the subsequent 12 Goals that are connected to 3 principal pillars:
PILLARS
Environment Social Governance
Environment
Social GovernanceEnvironment: raw materials management
To date, almost half of total raw material (46,5%) is recycled glass, marking a +8,4% increase with respect to last year.
The use of recycled glass has a triple advantage:
- saving of virgin raw materials
- energy saving
- lower CO2 emissions
The aim of Zignago Vetro is both to increase the amount of glass cullet used in production,
and to increase its range of containers that can be made with recycled glass:
- an example is the line Natural Green:
Up to 90% of Natural UV Reduction of CO2
recycled glass protection up to 99% emissions up to -36%Environment: energy efficiency
Zignago Vetro has made significant efforts to start a positive trend of energy efficiency both in terms of energy consumption per
production output and of renewable energy self-production; this also results in a reduction of CO2 emissions per glass produced.
In 2019, the energy consumption per ton of glass produced have decreased by -5,5%. This has been possible thanks to:
- Engineering and development of more energy-efficient melting furnaces;
- Continuous revamping of auxiliary systems with efficient and sustainable solutions;
- Installation of a recovery boiler with steam turbine and photovoltaic panels;
- Zignago Power biomass plant direct supply;
- Reduced energy demand due to an increase in the usage of glass cullet;
- Use of LED lamps for indoor lightning.Environment: energy efficiency
In this scenario, the pursuit of the objective of a balanced mix among the energy sources is also important, trying to maximize the
use of renewable and self-produced ones. From 2018 to 2019, the percentage of electricity that comes from renewable resources
has increased by +31,4%, reaching the +40,6% of the total energy consumed, thanks to: photovoltaic panels, steam turbine and the
biomass plant Zignago Power.
72%
69,1%
59,4%
40,6%
30,9%
28%
2017 2018 2019
Renewable sources Non-renewable sources
During 2019, the use of electricity from renewable resources has saved 23.410 ton of CO2 emissions.Environment: water management
Zignago Vetro is deeply concerned to protect the hydrogeological balance and to prevent any instability.
- In 2019, the value of specific water consumption per ton of glass produced
has significantly decreased by -33,9%, thanks to:
- the implementation of closed-circuit water systems and recycling and
recovery systems;
- the use of proper plants for the wastewater and rainwater’s treatment
and disposal.
Zignago Vetro is also involved in many activities, aimed at improving people’s sensitivity towards the marine litter phenomenon
due to plastic:
- Since 2018, together with Assovetro, we support - We promote the plastic reduction in the
the European Campaign #EndlessOcean workplace: implementation of plastic-free policy
promoted by Friends of Glass (FEVE) in the company’s canteens and meeting roomsEnvironment: emissions
Zignago Vetro is actively committed in decreasing the CO2 emissions: between 2018 and 2019, CO2 specific emissions have
decreased by -5,7%.
CO2 emissions (Scope 1 & 2) / Glass produced (ton
With the aim to decrease the CO2 emissions, the Group has set the following CO2/ton)
targets:
- reduction of energy consumption; 0,695 -1,3%
0,686
- maximization of the quantity of glass cullet lead into the
-5,7%
furnaces;
- introduction of lighter products, that reduce the quantity of 0,647
glass necessary for their production.
2017 2018 2019
Other initiatives:
- Sustainable Logistics: improvement of transports by railway (multimodal transport system for raw materials)Environment: waste management
From 2018 to 2019, we got a general decrease of ordinary waste in relation to the ton of glass produced (-13,8%): this reduction is
visible both for non-hazardous waste (-15,1%), and for hazardous waste (-6,9%).
Total waste for destination:
5,7% 14%
4,4% 22,1%
20,7%
27,8%
2017 2018 2019
67,7% 73,6% 63,9%
Total waste in Total waste sent to Total waste sent to recovery
landfills recycle or recovery (also energy recovery)
Most of the waste produced (77,9% overall) is recycled, reused or recovered (also energy recovery), while only the residual part (the
remaining 22,1%) is sent to landfills. This demonstrates the Group's constant attention to waste management in terms of ecology and
circularity.Environment: projects for the environment
During 2019 we have supported the following projects:
- MEGLIOINVETRO
- ENDLESS OCEAN
- PLATIC FREE POLICY
- ENVIRONMENTAL EDUCATION IN SCHOOLS
- TOGETHER FOR THE VENETO MOUNTAINS
- TREEDOM
- ESG CONFERENCESEnvironment: 2020 Goals and 2025 strategic Goals
Regarding the pillar “Environment”, Zignago Vetro has set the following KPIs and targets:
2019 2020 2025
TOPIC KPIs
Achieved Goal Goal Strategic Goal
Raw materials % of recycled glass on
46,5% 49% 53,2%
management total raw materials
Energy consumption per
Energy efficiency ∆%: -5,5% ∆%: -1,7% ∆%: -6,7%
ton of glass produced
% of elecricity from
40,6% 45% 77,7%
renewable resources
Specific water
Water management consumption per ton of ∆%: -33,9% ∆%: -25,5% ∆%: -30%
glass produced
Emissions CO2 specific emissions ∆%: -5,7% ∆%: -1,1% ∆%: -17,6%
Multimodal transport
Sustainable logistics In progress In progress
system
Ordinary waste per ton of
Waste Management ∆%: -13,8% n.a. n.a.
glass produced
Environment-related 10+ supported €100.000 budgeted €100.000 budgeted
Supported initiatives
projects porjects for this topic for this topicSocial: human resources management
In 2019, the Group steadily continues to represent a point of working opportunities: the employees’ headcount is of 1.733 people,
with an increase of +54 people with respect to 2018, confirming the positive occupational trend and with a substantial
maintenance of female and permanent employment increase.
Workforce by professional category in the last 3 years:
1679 1733
1800 1608
1600 1386
1280 1346
1400
1200
1000
800
600
400 240 245 255
200 20 68 22 66 23 69
0
2017 2018 2019
Executives Managers White-collar Blue-collar Total
Also:
- Zignago Vetro is committed to the total respect for all forms of human right, and it aims to be a gender-balanced and
truly equal workplace;
- the Group promotes work-life balance initiatives, allowing flexible working hours and part-time option;
- Zignago Vetro has promoted a corporate welfare plan.Social: health and safety in the workplace
The Group’s companies give the highest level of attention to the issues of health and safety in the workplace and prevention. In 2019,
the safety protocols have been strengthened and the hours of training on workplace safety increased.
Accidents – Frequency index Accidents – Severity index
25 1,2
21,37 0,978
20 1
17,23 16,59 0,78
0,8 0,739
15
0,6
10
0,4
5 0,2
0 0
2017 2018 2019 2017 2018 2019
The accidents in the Group are steadily diminishing, from 56 in 2017, to 47 in 2018 to 46 in 2019; likewise, the frequency index is
decreasing, reaching 16,59 in 2019: this value is only slightly higher than the average value of the hollow glass companies in Italy,
that was 13,42 in 2018.Social: consumers’ Health & Safety
Zignago Vetro has obtained various certifications, confirming its attention towards its clients:
- We are certified UNI EN 15593:2008 for the design and production of glass containers for
alimentary usage.
- We are certified ISO 9001:2015 for the design, production and commercialization of glass
containers and for the commercialization of accessories and secondary processing.
- Achievement of environmental certification (ISO 14001) for Fossalta and Empoli. In progress in
Zignago Vetro Polska.
- International standard for food safety: within 2020 for Empoli.
- The Group is member of Ecovadis and CDP – certified entities for ESG evaluations – achieving
good performance results.
Also, since 2016, the Group has registered 0 cases of products’ defects with consequences for consumers’ health & safety.Social: personnel training and development
Zignago Vetro is actively engaged in improving personnel skills:
- in each country in which the Group operates, there Training hours:
are training programs structured according to the
different needs, for all the professional categories;
- in 2019, the Group provided 16.874 training hours
overall
- since 2018, the Group has established a career program called
Zignago Academy, oriented to the newly hired young talents,
with the aim to foster interdisciplinary skills, engagement and
managerial development.
Since 2019, Zignago Vetro has also started some training activities on sustainability issues.Social: protection of diversity, equal opportunities
and non-discrimination
The management of Zignago Vetro companies is conducted with absolute respect for personal diversity and by ensuring equal
opportunities. In particular, in Zignago Vetro we promote social inclusion policies:
- since 2016, Zignago Vetro has entrusted the implementation of some general services
to the Pegaso social cooperative, which supports the use of disabled personnel;
- since 2017, Zignago Vetro Brosse constantly cooperate with small companies located
in a region with high unemployment rate;
- since 2018, Zignago Vetro has started a collaboration project with the social
cooperative “Coopnoncello”, in order to give people with disabilities the opportunity
to contribute to production;
- since 2019, Zignago Vetro Polska has launched a recruitment project for Ukrainian
employees coming from war-conflict zones.Social: suppliers’ management
Zignago Vetro fosters the sustainability culture along its entire supply chain, pursuing the following objectives:
- engaging with suppliers who share philosophies in line with Zignago Vetro's policy and with the principles of
ethical, social and environmental responsibility promoted by the company;
- In 2019: creation of the supplier’s Code of Conduct (the subscription provides for
the adhesion of suppliers to a series of ESG principles).
- ensuring a responsible selection and qualification process of the supply chain;
- favoring local suppliers, with the aim to support the community growth.
Suppliers’ origin
Foreign Suppliers
Local SuppliersSocial: 2020 Goals and 2025 strategic Goals
Regarding the pillar “Social”, Zignago Vetro has set the following KPIs and targets:
2019 2020 2025
TOPIC KPIs
Achieved Goal Goal Strategic Goal
Human Resources
Employees Headcount ∆%: +3,22% n.a. n.a.
management
Ongoing Ongoing
Work-life balance initiatives Implemented
implementation implementation
To be extended in To be extended in
Corporate Welfare plan Implemented in Italy
other plants other plants
Health and safety in the
Accidents’ trend ∆%: -2,1% Keep lowering Keep lowering
workplace
Extend Groups’
Consumers’ Health & ISO 14001 in Poland,
Group’s certifications ISO 14001 in Italy certifications to other
Safety FSSC 22000 in Empoli
plants
Defective products
affecting consumers’ health 0 cases 0 cases 0 cases
and safety
Personnel training N. of training hours 16.874 Improve the n. of hours Improve the n. of hours
Protection of diversity,
Special project in Improve social inclusion Improve social inclusion
equal opportunities and Social inclusion policies
Poland policies policies
non-discrimination
Favoring local suppliers &
Ongoing Ongoing
Suppliers’ management creation of the Suppliers’ Achieved
implementation implementation
Code of Conduct
€100.000 budgeted for €100.000 budgeted for
Social-related projects Supported initiatives 10+ supported porjects
this topic this topicGovernance: Board of Directors composition
The structure of Board of Directors e is characterized by gender and independency balance:
Paolo Giacobbo Executive
46%
Manuela Romei Independent
Barbara Ravera Independent
54%
Franco Moscetti Executive
Stefano Marzotto Executive
Luca Marzotto Executive
Non-independent Director Independent Director
Gaetano Marzotto Executive
Daniela Manzoni Independent
Giorgina Gallo Independent
38%
Roberto Cardini Executive
Ferdinando Businaro Executive
62%
Alessia Antonelli Independent
Nicolò Marzotto Executive
Male FemaleGovernance: risk management system and fiscal
transparency
The Group’s governance has an Internal Control and Risk Management System, aimed at identifying, measuring and monitoring
the principal risks. The main bodies are:
- the Board of Directors;
- the Director in charge of the Internal Control and Risk Management System;
- the Control and Risks Committee;
- the Internal Audit Manager;
- the Board of Statutory Auditors;
- the Supervisory Board.
The main elements upon which the Internal Control System is based are as follows:
- The Ethics Code;
- Organizational structure;
- Powers and delegations.
The Group's operations are based on the maximum levels of fiscal accuracy:
- the Group has registered 0 cases of corruption;
- the financial data are subject to a double control by the auditing company and the
fiscal advisors used by the Group’s companies.Governance: 2020 Goals and 2025 strategic Goals
Regarding the pillar “Governance”, Zignago Vetro has set the following KPIs and targets:
2019 2020 2025
TOPIC KPIs
Achieved Goal Goal Strategic Goal
Fiscal transparency Corruption cases 0 0 0
Operative structure and
committees able to Ongoing Ongoing
Governance structure Achieved
guarantee proper level of achievement achievement
management quality
Component of incentive
Implemented. To be
Remuneration system remuneration linked to n.a. To be improved
improved
ESG targets achievement
Operative structure and
Internal Control and Risk committees able to Ongoing Ongoing
Achieved
Management System guarantee proper risk implementation implementation
managementEnvironment Social Governance – Roadmap
“Keep growing together in a sustainable way”Contacts:
Roberto Celot
CHIEF FINANCIAL OFFICER
INVESTOR RELATIONS
r.celot@zignagovetro.com
TEL (+39) 0421 246 111
Zignago Vetro S.p.A.
Via Ita Marzotto 8, 30025
Fossalta di Portogruaro (VE) – Italy
P. Iva 00884050279
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