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2020 Annual Report

01

Vidrala, at a glance

0
factories
0
furnaces

More than

0 .0
billion
of containers
produced in 2020

More than

0
people employed
0
training hours
during 2020

More than

0
customers
0 %
customer satisfaction index
(Net Promoter Score)
RECYCLED GLASS
0 %
use of recycled glass over total raw materials

Because glass is 100% and endlessly recyclable

It is the perfect packing material for a circular economy

Vidrala recycled bottles

Why using recycled glass is environment friendly?

  • It consumes less energy for its fusion.
  • It reduces greenhouse effect gas emissions.
  • It reduces as well the needs to get raw materials from nature.
0 .0%
water consumption

vs. previous year

0 %
in carbon dioxide emisions (CO2)

vs. previous year

0 %
in consumption
of raw materials

vs. previous year

0 .0%
in consumption
of energy

vs. previous year

02

FY 2020 Results

Main magnitudes

SALES

988.4

EUR million

-2.2% vs. previous year

OPERATING RESULT

(EBITDA)

279.8

EUR million

+1.9% vs. previous year

NET PROFIT

5.62

EUR per share

+12% vs. previous year

DEBT

233.5

EUR million

-30% vs. previous year
0,8x debt / EBITDA ratio

CASH DIVIDENDS AND
AGM ATTENDANCE BONUSES

1.2039

EUR per share

+15% vs. previous year

PROPOSED 2021
DIVIDEND PAYMENTS

With charge to FY 2020 results
Interim dividend (February 2021)EUR 0.8439 per share
Complementary dividend (July 2021)EUR 0.3209 per share
AGM attendace bonusEUR 0.0400 per share
2021 total remuneration
1.2039

EUR per share

+5% vs. 2020 distribution*
*Considering the effect of the bonus share issue completed in December 2020.

SHARE PRICE PERFORMANCE

Comparative performance in percentage terms, base 2011

03

Chairman's letter

“In 2020, we responded to the difficulties of the new situation without losing focus on our long-term strategy.”
Carlos Delclaux – Chairman
04

2020 Featured news

05

Request more information


    Responsible: Vidrala. Official name of the entity: Vidrala S.A. CIF: A-01004324. Postal address: Barrio Munegazo 22 · 01400 Laudio, Araba, Spain. Telephone number: +34 94 671 97 00.

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    Choose glass, choose Vidrala

    Dear shareholders,

    I am writing to present our annual report. 2020 turned out to be a very different year than anticipated. The outbreak of the COVID pandemic changed the context, affecting lives and activities throughout the world.

    The challenge for industries like ours, which are process intensive and essential to the food supply chain, has been great. From the beginning of the pandemic, we focused our efforts on maintaining activity, prioritizing the protection of the health of our people, and guaranteeing supply to our customers. Thanks to this, operationally all our production centers and supply service remained uninterrupted throughout the year. Most importantly, we responded to the difficulties of the new situation without losing focus on our long-term strategy. Thus, despite the complex operating environment, we completed a strategically important year, successfully executing the ambitious investment program.

    With the year now over, we can conclude that our business responded to adversity. On the one hand, demand for our products and services showed signs of stability, recovering in the second half of the year, after the initial drops caused by the pandemic. This stabilization happened despite the drastic change in the usual consumption channels, caused by the forced and temporary closure of the hotel and tourism industry. The lesson is clear, the consumer adapts, continues to consume glass at home, choosing our material for its attributes in terms of health, quality, and sustainability. Glass has a bright future.

    Faced with this different demand environment, Vidrala experienced the benefits of the geographic diversification acquired in recent years. Thus, sales declined by 2.2% in the year to EUR 988.4 million. On the other hand, business margins improved, mainly as the result of internal progress towards competitiveness, following recent strategic actions. As an example, the annual operating result reached EUR 279.8 million and earnings per share grew 12.0% compared to the previous year.

    Finally, we completed the response to the adversities of the pandemic by investing more than ever, with future ambition. And we did so without losing our financial discipline, generating cash despite the investment intensity, and strengthening our financial position through debt reduction. Based on these results, the Board of Directors has proposed a 5% increase in the cash dividend.

    Looking forward, our long-term guidelines remain intact, strictly based on our three strategic pillars: customer, competitiveness, and capital structure. We will invest with our client in mind and with the firm objective of developing a sustainable business.

    I want to end by thanking our people for their work during 2020, our clients for the solid commercial partnerships and all of you, shareholders, for your trust in Vidrala.