Vidrala boosts its semi-annual profit to 128.7 million and increases its turnover by 22.1%

MADRID, 19 Jul.

Vidrala boosts its semi-annual profit to 128.7 million and increases its turnover by 22.1%


Vidrala registered a net profit of 128.7 million euros in the first six months of 2023, which represents an increase of 131.6% compared to the profits of the first half of 2022, which were 56.3 million euros, As reported by the company to the National Securities Market Commission (CNMV) on Wednesday.

Thus, the glass container manufacturing company reached earnings per share of 4.19 euros up to June, compared to 1.81 euros per share the previous year.

The sales figure reported by Vidrala during the first six months of the year amounted to 794.8 million euros, an increase of 22.1% over the previous year, driven by a demand for glass containers that remains "solid". , and which continues to be driven by growing support for glass as the ultimate sustainable packaging from brand owners, packers and consumers, the company has highlighted.

Likewise, the firm's gross operating result (Ebitda) increased by 92.2% in the first half of the year, reaching 215.2 million euros, equivalent to a margin on sales of 27.1%, while in the same dates of 2022 the figure was 112 million euros.

At the balance sheet level, the debt as of June 30, 2023 stood at 283.8 million euros, conditioned by the disbursement of 87.2 million euros for the acquisition of the logistics infrastructure 'The Park' (in Bristol, United Kingdom Kingdom) and the purchase of a minority stake in the Brazilian company Vidroporto.

For the rest of 2023, the company explained that it expects "the recent recovery in operating margins to consolidate", while reiterating its forecasts for this year, which include "double-fold sales growth digit, an Ebitda margin of more than 25% on sales, a profit of more than 7.00 euros per share and more than 150 million euros of free cash generation".

Regarding shareholder remuneration, on July 14, Vidrala paid out a second dividend, complementary to the results of the 2022 financial year, for a gross amount of 0.336 euros per share.

Vidrala has highlighted that the cash distribution during 2023, including the bonus for attending the general shareholders' meeting, has accumulated 1.2621 euros per share, while the annual outlay has represented an increase of approximately 10% compared to to the previous year, "considering that the new shares assigned free of charge in the bonus issue carried out in December 2022 were fully beneficial".