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Vitro Publishes Restructured Balance Sheet; Reports Increases of 6.4% in 1Q’12 Sales and 6.9% in EBITDA

Post Time:May 07,2012Classify:Industry NewsView:44

Vitro S.A.B. de C.V. one of the world's largest producers and distributors of glass products, today announced 1Q’12 unaudited results. Financial statements were prepared according to International Financial Reporting Standards (IFRS), thus, all figures for the 1Q’12 and 1Q’11 follow the same standards and are fully comparable (for more information see “Special Note Regarding IFRS Adoption Effects” within this document). Year-over-year consolidated net sales increased 6.4 percent, benefitting from higher sales volumes in both the Glass Containers and Flat Glass Business, and a better price-mix at both business units, which offset the 6.9 percent YoY (quarterly average) peso depreciation. Consolidated EBITDA increased 6.9 percent YoY, as a result higher sales volumes, solid manufacturing efficiencies and lower natural gas prices, which more than compensated for the electricity and steam supply interruption caused by Tractebel’s incident reported on March 29, 2012.

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Source: http://www.glassonweb.com/news/index/15776/Author:

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