Vitro reports 3Q'09 declines of 36.9 percent and 36.7 percent in sales and EBITDA
Vitro S.A.B. de C.V., one of the world's largest producers and distributors of glass products, today announced 3Q'09 unaudited results. Year-over-year consolidated net sales declined 36.9 percent affected by a 25 percent peso depreciation during last twelve months, lower volumes and the deconsolidation in December 2008 of Comegua - the Company's glass container venture in Central America. Consolidated EBITDA decreased 36.7 percent YoY while the consolidated EBITDA margin of 14.5 percent remained without change from the same period last year. On a comparable basis, excluding Comegua, consolidated net sales during 3Q'09 declined 31.7 percent YoY while EBITDA decreased 31.5 percent during the same period, according to an Oct. 28 Reuters report.