Company my technocamdedicated to the manufacture of architectural glass, windows and aluminum products associated with the global commercial and residential construction industry, this Wednesday, in the first quarter of the year net income It was $20.95 million in the first quarter of 2022.
The figure represents a 153 percent increase from a profit of $8.2 million a year ago and reflects a significant increase in sales volume in the United States market, where the company sells the majority of its products. Barranquilla plant.
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Total revenue for the first quarter of 2022 rose 20.6 percent to $134.5 million, compared to $111.6 million a year ago, thanks to strong growth and market share gains in single-family housing business, according to the report.
“Single-family home sales were up approximately 155 percent year-over-year, accounting for 44.4 percent of first-quarter revenue, supported by new product launches, an expanding customer base and strong residential demand,” the company report. he added.
Meanwhile, operating expenses were $26.4 million compared to $19.9 million in the prior year quarter, and about half of the increase is attributable to higher shipping expenses as a result of higher cargo volume, sales and higher rates.
José Manuel Daes, Tecnoglass Executive Director, underlined the continued strong business momentum in 2022, “We delivered another quarter of record results through our industry-leading platform.”
He explained that the radical change in profitability continues to result from automation of processes, expansion in installed capacity, a focus on cost control and the use of vertically integrated structure to provide the best service to a growing customer base with the shortest delivery times. .
“We also continue to see positive single-family housing market trends and increased market share as we further strengthen our presence in key areas of the United States, particularly the Southeast, where there are extremely positive demographic trends in demand.”
Adjusted EBITDA, i.e. profit before taxes, depreciation and depreciation, increased 35.1 percent in the first quarter of 2022 to $45.4 million, or 33.7 percent of total sales, $33.6 million, or 30.1 percent of total. rose. revenue in the previous year’s quarter.
Based on these trends and its growing pipeline of new projects, Tecnoglass said it has upgraded its outlook for 2022 with sales ranging from $580 million to $605 million.
Source: Exame
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