Panevezio stiklas 8.50% 3Y bond

Evaldas Sauliūnas (chairman), Normantas Marius Dvareckas, Aivaras Sirusas

Irmantas Zabulis (chairman), Ramūnas Paškevičius, Julija Mačiunskienė

AB Panevėžio stiklas is a long-established manufacturer of clear glass containers headquartered in Panevėžys, Lithuania, with nearly six decades of operating history since its establishment in 1965. The Company is the only producer of clear glass containers in Lithuania and holds leading market positions across the Baltic region, with an estimated market share of approximately 65% in Lithuania, 45% in Latvia, and 25% in Estonia.

The Company specializes in the design, production and sale of clear glass packaging, including bottles and jars for alcoholic and non-alcoholic beverages, food producers and other FMCG customers. Its business model is predominantly focused on customized, higher value-added production (c. 90% of sales), supporting long-term relationships with leading regional and international customers, alongside a smaller share of standardized products.

In 2025, the Company generated revenue of EUR 22.7 million (+16% YoY) and produced approximately 147 million glass containers. Since 2017, shareholders have invested approximately EUR 22 million into modernization, resulting in a technologically advanced production facility with annual capacity of up to ~180 million units.

The Company’s key strengths include its leading regional market position, modernized production platform, stable customer base and exposure to favorable long-term demand trends driven by the increasing use of recyclable glass packaging. In addition, the Company contributes to the circular economy by processing approximately 22 thousand tonnes of recycled glass annually and implementing energy efficiency and renewable energy initiatives.