Vitro sales down 0.8% for January – September 2005

Mexican glass maker Vitro, the largest glass maker in Latin America, posted total sales of MXN 19.651 billion (USD 1.802 billion/ EUR 1.486 billion) from January to September 2005, down 0.8% year-on-y…

Mexican glass maker Vitro, the largest glass maker in Latin America, posted total sales of MXN 19.651 billion (USD 1.802 billion/ EUR 1.486 billion) from January to September 2005, down 0.8% year-on-year, the company said on 26 October 2005. Earnings before interest, tax, depreciation and amortisation (EBITDA) fell 8.6% to MXN 2.86 billion (USD 262 million/EUR 216 million) for the first nine months of 2005. The company posted a 6.1% year-on-year gain in its sales for the 3Q of 2005 to USD 624 million (EUR 514.5 million) and a 9% year-on-year rise in gross revenue for the quarter. Vitro CFO Alvaro Rodriguez put the blame for the unfavorable results on high natural gas prices. The company is continuing its efforts to keep strict control of the costs in all of its units, Rodriguez said. The company has recently put on sale two buildings and a plot of land where the company“s headquarters are located, in order to reduce its debt. (Unless otherwise stated, all figures/comparisons are for January-September 2005/ January-September 2004)