Tecnoglass, the company from Barranquilla that grows alongside the dollar

The company from Barranquilla has been trading in the BVC since January 6, 2016, presents its financial statement for 2015 with 39% Ebitda up to September and sales of $ 828,020 million at year end .

In a press conference on Tuesday, the Colombian company which premiered at the Colombian stock exchange last week released its 2015 balance which highlights an Ebitda of 36% in 2015 compared to 21% for the same period last year.

The President of one of the companies that compose Tecnoglass: Solar ESWindows SA, Rodolfo Espinosa, reported that sales of Colombian operations reached $ 828,020 million at the close of 2015.

Tecnoglass entered the BVC with the ticker symbol TGLSC and at a starting price of $ 43,220.07 at opening. The last closing price recorded on January 12 was $ 45,000. The company will also be listed on the Nasdaq Stock Exchange in the US, where it has been trading since 2013, being the first and only Colombian company to enter that market.

José Manuel Daes, Tecnoglass Inc. CEO, reported in a press release that the company has grown by 35% in dollars and 130% in Colombian pesos during the past two years, considering the effect of the exchange rate. By the close of 2015, they are expecting record sales of more than US $ 240 million, with an EBITDA of US $ 240.

With investments made in 2015 for more than US $ 40 million, like the new 20,000 square meter soft coat glass plant, Tecnoglass plans to increase its sales by US $ 200 million over the next five years and estimates that will generate over 700 jobs.

Tecnoglass’ success addresses the current dollar pricing by exporting about 60% of its production, which is based on high quality architectural glass and windows for  residential and commercial construction. Headquartered in Barranquilla, it operates a modern industrial complex of more than 220,000 square meters, becoming the first company that manages windows with full vertical integration.

Source: Dinero