Flat Glass Sales Increase 7.9 Percent for Vitro's Third Quarter

Third quarter flat glass sales rose 7.9 percent to $149 million USD compared to last year's 2011 third quarter results of $138 million, according a Vitro company release. 

Also displaying growth, flat glass's EBITDA also rose 94.2 and consolidated net sales rose 4.7 percent. Vitro accredits this rise in part to a strong performance in the flat glass automotive market. 

The flat glass EBIT for the quarter increased to $17 million, from $1 million in 3Q'11, while EBIT margin rose 11 percentage points to 11.6 percent, from 0.6 percent in 3Q'11. EBITDA increased to $24 million, from $13 million in 3Q'11, a 7.2 percentage increase in its margin, compared to 16.3 percent, from 9.1 percent in 2011.

Domestic sales increased 3.7 percent to $95 million, from $92 million. This increase offsets the 5 percent in peso depreciation. Export sales ended the third quarter with $43 million, a 21 percent increase from last year's third quarter result of $36 million.