Vitro 2Q 2005 net profit at USD 37 million

Mexican glass major Vitro posted a net profit of USD 37 million (EUR 30.7 million) for the 2Q 2005, compared to a net loss of USD 41 million (EUR 34.1 million) for the year-ago quarter, the company sa…

Mexican glass major Vitro posted a net profit of USD 37 million (EUR 30.7 million) for the 2Q 2005, compared to a net loss of USD 41 million (EUR 34.1 million) for the year-ago quarter, the company said on 25 July 2005. The consolidated net sales of the Monterrey-based company reached USD 621 million (EUR 516 million), up 9.0%. Flat glass sales totalled USD 285 million (EUR 236.8 million), compared to USD 273 million (EUR 226.8 million) for the corresponding quarter in 2004. Earnings before interest, tax, depreciation and amortisation (EBITDA) stood at USD 89 million (EUR 74 million), down from USD 93 million (EUR 77.3 million). The EBITDA margin declined 2.1% to 14.3%. Vitro“s total debt of stood at USD 1.46 billion (EUR 1.21 billion), up from USD 1.383 billion (EUR 1.15 billion) at end-June 2004. Chief Financial Officer Alvaro Rodriguez said that in the 2Q 2005, the company reported a growth in sales for the fourth consecutive quarter. (Unless otherwise stated, all figures/comparisons are for Q2 2005/Q2 2004)