Sales of Vidrala in the first nine months of 2023 grow by 18%.


Sales of Vidrala in the first nine months of 2023 grow by 18%.

The results for the first nine months of 2023 demonstrate Vidrala’s solid business fundamentals today. Thus, sales registered in this period amounted to 1.194,1 million euros, representing an increase of 17,4% compared to the previous year. At constant currency, sales grew by 18.6%.

The gross operating profit -EBITDA- accumulated during the first nine months amounted to 315.6 million euros, an increase in reported terms of 98.6% on the previous year, reflecting a recovery at constant currency of 100.1%. The obtained EBITDA represents a margin on sales of 26.4%.

In a context of more moderate demand, business margins recover, profitability remains solid and cash generation reaches anticipated levels. These are the effects of the company’s investment plan, aimed at growing and diversifying the business, improving customer service, offering differential services, selectively reorganizing the industrial structure, and improving production facilities.

The rationale for recent corporate activity becomes particularly evident in a less buoyant macroeconomic context, and in conclusion, the results demonstrate that Vidrala’s industrial perimeter and customer service are stronger today than ever before.

While the recent weakness in demand – which mainly reflects macroeconomic factors, the high base comparable to the previous year, and the temporary effects of inventory reduction by our customers – will lead Vidrala to control capacity utilization rates to adapt their inventories in the short term, this will not affect their forecasts for fiscal year 2023.

photo All in all, the attributable net result for the nine months amounted to 184.6 million euros, which is equivalent to earnings per share of 6.01 euros and represents an increase of 138.2% on the previous year.

At the balance sheet level, the solid cash generation obtained in the period allowed to place the debt as of September 30, 2023 at 208.9 million euros. This represents a leverage ratio equivalent to 0.5 times the EBITDA accumulated in the last twelve months.

“In any case, beyond 2023, our strategic guidelines and business fundamentals will remain firmly committed to our long-term priorities: customer, cost, and capital. We will invest to create a future, grow the business, and diversify our operations, with our customers in mind and with the aim of delivering our services and manufacturing our products in the most competitive and sustainable way possible. And we will do so ensuring strict financial discipline,” Vidrala’s sources say.