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Vitro reports 2Q'10 increase of 2.2 percent in sales and 26.7 percent in EBITDA

Post Time:Jul 29,2010Classify:Industry NewsView:79

Vitro S.A.B. de C.V., Monterrey, Mexico,one of the world's largest producers and distributors of glass products, today [July 28]announced 2Q'10 unaudited results. Year-over-year consolidated net sales increased 2.2 percent benefited by a 4.1 percent peso appreciation during last twelve months. Consolidated EBITDA increased 26.7 percent YoY while the consolidated EBITDA margin increased to 15.3 percent from 12.4 percent in the same period last year.

Commenting on the quarter's results, Hugo Lara, chief executive officer, said, "While performance continued to benefit from the peso appreciation, the results in each business unit reflect the varying stages of a slow economic recovery in specific markets, the effect of changes in demand on volumes as well as the impact of the steps Vitro has taken over the past year to improve profitability and service its clients," according to a July 28 PR Newswire report.

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Source: http://www.glassmagazine.com/news-item/commercial/vitro-reports-2q10-increase-22-percent-sales-and-267-percent-ebitda-106477Author:

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