MADRID, 18 Oct. (EUROPA PRESS) –
Vidrala recorded an attributable net profit of 184.6 million euros in the first nine months of the year, a figure that multiplies by more than two (138%) the profits of the same period of 2022, as the company reported to the Commission this Wednesday. National Securities Market (CNMV).
The sales figure of the glass packaging manufacturer reached 1,194.1 million euros until September, 17.4% above that of the same period last year (18.6% in constant currency).
Vidrala’s gross operating result (Ebitda) almost doubled, growing by 98.6% until September of this year compared to the first nine months of 2022, standing at 315.6 million euros, with a margin on sales of 26.4%.
The cash generation of the glass container manufacturer, which amounted to 89.6 million euros until September, allowed it to reduce its debt to 208.9 million euros, compared to the debt of 284 million euros with which it ended the first semester of the year. However, the current debt exceeds that registered as of September 2022 (165 million euros).
The company has highlighted that its results for the first nine months “evidence the solid fundamentals” of its business. “In a context of more moderate demand, business margins are recovering, profitability remains solid and cash generation reaches anticipated levels,” the company stressed.
Vidrala has indicated that this is a product of its investment plan, focused on the growth and diversification of the business, the improvement of customer service, differential services, the selective reorganization of its industrial structure and the improvement of its production facilities.
“Our results show that our industrial perimeter and our customer service are stronger than ever today,” remarked the glass container manufacturer.
However, the company has indicated that the recent weakness in demand will lead it “to control capacity utilization rates” to adapt its inventories in the short term, although it has specified that this will not affect its forecasts for the 2023 financial year. .
