Berenberg Lifts Forecasts for Vetropack After H1 Results

06:26 AM EDT, 08/24/2026 (MT Newswires) -- Berenberg upgraded its earnings estimates for Vetropack (VETN.SW), as analysts noted the Swiss glass container manufacturer's first-half performance. "Vetropack released its H1 2026 results on 21 August. The shares rallied by 9%: despite declining EBIT (as we had expected), the company delivered better-than-expected [like-for-like] growth and noted improved demand for glass containers in eastern Europe," the research firm said Monday. Vetropack reported a 2% year-over-year decline in net sales to 404.6 million francs, with a 0.7% like-for-like growth, which analysts noted came in above their respective estimates of 5% and 3.5% decreases. While adjusted EBIT fell by 26.5% to 16.6 million francs, the result was higher than Berenberg's forecast of 15 million francs. "The group expects good demand to be sustained in H2, with better utilisation given recent furnace closures. There will, though, be a higher cost of energy to absorb, owing to the rise in gas prices," the note said. Within this context, Berenberg now expects flat full-year 2026 revenue of 779 million francs, while the research firm's adjusted EBIT forecast is "largely unchanged" with a 4.2% margin due to inflationary pressures. The stock's buy rating and price target of 33 francs are also unchanged.