Volume 50, Issue 10 - October 2015

FinancialFlash

Tecnoglass Sees “Best Month Ever” as it Enters Third Quarter

Tecnoglass Inc. of Colombia had what it considers a positive second quarter. The manufacturer of architectural glass, window and aluminum products for the residential and commercial construction industries announced its revenues in the second quarter of 2015 rose nearly 12 percent to $58.1 million, with sales increasing 28 percent to $33 million.

“Our business development activities remain quite strong, and we are at various stages of negotiation with new and existing customers for projects of substantial size and scope,” says José M. Daes, CEO. He adds that July, the start of the third quarter, was the company’s best month ever in terms of revenues and profitability.

The company’s new $40 million softcoat line also began operations recently.

Tecnoglass Inc. and Subsidiaries
Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income
(Amounts in thousands, except share and per share amounts; unaudited)
  3 months ended June 30 6 months ended June 30
  2015 2014 2015 2014
Operating revenues $58,053 $51,936 $110,096 $99,777
Cost of sales 39,055 35,287 73,916 68,532
Gross profit 18,998 16,649 36,180 31,245
Operating expenses 9,690 8,230 18,870 14,969
Operating income 9,308 8,419 17,310 16,276

Source: Technaglass


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