Vidrala reported a solid growth in demand for glass packaging during the first quarter of 2022.
The company highlighted that the food and beverage industry, alongside continuous support from suppliers and consumers, led to an increased demand across its regions of operation.
Sales for Vidrala’s first quarter of 2022 were up by 18.8% from the previous year, which amounted to €278.9 million.
Operating profit (EBITDA) obtained in the first three months of 2022 reached €23.3 million, a decrease of -62.6% over the figure reported last year.
Net debt at the end of the quarter stood €126.1 million, 40% below the prior year, while net profit amounted to €0.8 million.
Vidrala highlighted that the external inflation in industrial manufacturing costs had an impact on its operating margins.
The company believes it can recover in the upcoming quarters as its sales prices readapt or energy markets stabilise.