Vidrala : Higher energy costs and capex requirements sufficiently priced in
>Weaker-than-expected results on higher energy costs - Vidrala results came slightly below our estimates and those of consensus (-3% and -6% respectively) with FY 2021 EBITDA margin of 24.7% reflecting weak Q4 2021 profitability (EBITDA margin of 14.6%, declining from 27.6% in 9M 2021) due to high natural gas prices (+90% vs Q3 2021 average levels) and limited hedging effectiveness. The EBITDA margin contracted in 2021 by 360bp as prices were not fully adapted to the ...Vidrala SA is a Spain-based company principally engaged in the glass industry. The Company operates through two segments: Spain and European Union. The Company's activities include the production, distribution and sale of glass bottles and containers used in the food and beverages industries. The Company conducts its own research and development (R&D) operations. It operates production plants and melting furnaces located in such countries, as Portugal, France, Belgium and Italy. The Company owns such subsidiaries as Crisnova Vidrio SA, Inverbeira Sociedad de Promocion de Empresas SA, Gallo Vidro SA, Castellar Vidrio SA, Corsico Vetro SRL, MD Verre SA, Omega Immobiliere et Financiere SA, Investverre SA and CD Verre SA.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.