Vitro achieves fifth consecutive year of EBITDA growth; sales increase and EBITDA up in 4Q 2014

  Company financial news

In its announcement of its unaudited results for the fourth quarter 2014 and full year 2014, Vitro reported increased consolidated sales, increased EBITDA, and the 5th consecutive year of EBITDA growth.

Financialresults
Vitro has announced its unaudited results for the fourth quarter 2014 and full year 2014
Vitro, S.A.B. de C.V., the leading glass producer in Mexico, has announced its unaudited results for the fourth quarter 2014 and full year 2014.
Consolidated sales increased 0.8% year-on-year to USD 394 million, affected by the peso depreciation of 7.4% during 4Q 2014; excluding this effect, sales would have increased by 5.1%. Sales growth was mainly driven by a solid performance in the domestic beer, soft drinks and food categories in the Glass Containers business unit, as well as the domestic Original Equipment Manufacturers (OEM) and Automotive Glass Replacement (AGR) segments, in the Flat Glass business unit. These factors offset the impact of tough industry conditions in the Cosmetics, Fragrances and Toiletries (CFT) segment and lower domestic and export sales to the construction market.
EBITDA increased by 42.7% during 4Q 2014, mainly reflecting higher sales volumes to the beer segment in the Glass Containers business unit, and to the Automotive market in the Flat Glass business unit, along with an improved price-mix in the domestic construction segment and the impact of certain non-operating effects in 4Q 2013, the latter affecting YoY comparison. This more than compensated for the impact from a 7.4% YoY peso devaluation (quarterly average), as well as lower capacity utilization in one of the Company’s float glass furnaces early in the quarter, which particularly affected the Flat Glass business unit.
A positive cash flow generation during 4Q 2014 enabled the company t...


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