Brief: Nextil 9-Month Adjusted EBITDA Down At 3.3 Mln Euros YoY

Nueva Expresion Textil SA

15/11/2022 07:54

Nov 15 (Reuters) - Nueva Expresion Textil  NXTE.MC :
    * SAID ON MONDAY 9-MONTH NET SALES 39.1 MILLION EUROS VERSUS
44.9
MILLION EUROS YEAR AGO
    * 9-MONTH ADJUSTED EBITDA 3.3 MILLION EUROS VS 3.8 MILLION
EUROS
YR AGO
    * SLOWDOWN IN THE GROUP'S ACTIVITY IN THIRD QUARTER COMPARED
TO
SAME PERIOD OF PREVIOUS YEAR WAS DUE TO THE INSTABILITY OF THE
MARKETS CAUSED BY MILITARY CONFLICT IN UKRAINE, GENERATING
UNCERTAINTY AMONG OUR CUSTOMERS WHICH HAS IMPACT ON ORDERS TO BE
PLACED
    * IN THIRD QUARTER REORGANISATION PROCESS INITIATED IN 2014
WAS
COMPLETED, GIVING WAY TO NEW PHASE FOCUSED ON GROWTH, INCREASED
PROFITABILITY AND CASH GENERATION
    * GUATEMALA FACTORY WILL REACH FULL PRODUCTION CAPACITY (6
MILLION
METRES PER YEAR) FROM MAY 2023 AND WILL SIGNIFICANTLY BOOST THE
COMPANY'S ACTIVITY BY INCREASING ITS CUSTOMER PORTFOLIO
    * DESPITE INCREASE IN RAW MATERIAL, TRANSPORT AND ENERGY
PRICES,
COMPANY MAINTAINED SAME PROFITABILITY MARGIN AS IN PREVIOUS YEAR
DUE TO OPTIMISATION OF PROCESSES, WHICH ALLOWS FOR HIGHER LEVEL
OF EFFICIENCY IN PRODUCTION CAPACITY
    * IN GARMENT UNIT, DESPITE CONTRACTION IN DEMAND, MAINLY DUE
TO
UNCERTAINTY GENERATED BY WAR, WHICH HAS LED TO DROP IN ACTIVITY,
COMPANY MAINTAINED ITS EBITDA MARGIN AT SAME LEVEL AS IN SAME
PERIOD OF PREVIOUS YEAR

    
 Source text: https://bit.ly/3X5vvuc
 Further company coverage:  NXTE.MC  
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