Vidrala SA has released its 2016 first half year financial figures.
Net sales registered by Vidrala during the first six months of 2016 amounted to EUR 392.8 million, representing an increase of 1% over the previous year. On a constant currency basis, organic sales growth was 3.5%.
Operating profit EBITDA generated over the first half reached EUR 85.56 million. It represents an increase of 9.1% over the figure reported last year reflecting an organic growth, on a constant currency basis, of 11.7%.
Over sales, EBITDA reached a margin of 21.8%.
Net profit obtained during the first six months amounted to EUR 33.8 million. As a result earnings per share during the first half reached EUR 1.36. This represents an increase of 18.3% over the previous period.
Net debt at June 30, 2016 stood at EUR 369.9 million. Leverage ratio stood at 2.2 times twelve months EBITDA.
Debt evolution during the first half is the result of a free cash flow generation of EUR 49.7 million, thanks to the progress made in optimizing the working capital and a capex programme that, for the current year, is more concentrated in the second half of the year.
Outlook
The main European markets show signs of growth in line with the progressive development of consumption patterns of food and beverages.
Under this context, Vidrala ́s financial results throughout the current year should continue to be supported by the solid business profile and the implemented actions oriented towards the defined objectives of customer service, cost competitiveness and cash generation.
Consequently, results for the full year 2016 are expected to grow in terms of earnings per share reinforcing the financial position thanks to a progressive debt reduction.
More information is available on the company website www.vidrala.com.