Zignago Vetro: 9-month 2008 net profit up 59.3%

Italian container glass manufacturer Zignago Vetro SpA posted a consolidated net profit of EUR 24.3 million (USD 31.2 million) for the first nine months of 2008, up 59.3% on the year, the company said…

Italian container glass manufacturer Zignago Vetro SpA posted a consolidated net profit of EUR 24.3 million (USD 31.2 million) for the first nine months of 2008, up 59.3% on the year, the company said on 4 November 2008. Revenue increased by 6.6% to EUR 189.3 million for January to September 2008 compared with EUR 177.6 million for January to September 2007. Earnings before interest, tax, depreciation and amortisation (EBITDA) were EUR 50.5 million for the period, up 8.7% versus EUR 46.5 million for the first nine months of 2007. The company registered earnings before interest and tax (EBIT) of EUR 34.2 million for the nine months to September 2008, up by 13.8% compared with EUR 30 million for same period in 2007. Zignago Vetro“s consolidated net profit rose by 47.1% to EUR 6.8 million in the 3Q 2008, compared with EUR 4.6 million for the corresponding period of 2007. The group posted revenue of EUR 60.5 million for July to September 2008, up 5.8% compared with EUR 57.1 million in the same period of 2007. EBITDA increased by 11% in the 3Q 2008 to EUR 15.9 million compared with EUR 14.3 million in the 3Q 2007. EBIT was EUR 10.8 million for July to September 2008, up 21.5% compared to EUR 8.9 million for the same period of 2007.