Mexican glass giant Vitro posted a net loss of USD 35 million (EUR 27.21 million) for 2003, down from the net profit of USD 7.0 million (EUR 5.44 million) for 2002, the company said on 17 February 200…
Mexican glass giant Vitro posted a net loss of USD 35 million (EUR 27.21 million) for 2003, down from the net profit of USD 7.0 million (EUR 5.44 million) for 2002, the company said on 17 February 2004. In the 4Q of 2003, Vitro reported a net loss of USD 12 million (EUR 9.33 million), up 87% year-on-year. The sales revenue of Vitro totalled USD 2.238 billion (EUR 1.74 billion) in 2003, down 4.5 % from 2002. The operating profit totalled USD 165 million (EUR 128.26 million) for 2003, down 15%. The company operating profit for the 4Q 2003 reached USD 40 million (EUR 31.09 million), up 56.3% from the same period of 2002. Vidrio Plano, the company“s flat glass unit, made the largest contribution to the increase in operating profit over the last three months of 2003, the company said. Vitro earnings before interest, tax, depreciation and amortisation (EBITDA) totalled USD 364 million (EUR 282.96 million) for 2003, up from USD 345 million (EUR 268.19 million) for 2002. The total debt of the company stood at USD 1.409 billion (EUR 1.095 billion) at end-2003, down 3.1%. NB: Unless otherwise indicated, all figures/comparisons are for 2003, compared to 2002.