Frigoglass reports lower H1 sales
Frigoglass Group on Thursday said its sales fell 1.7 pct to 197.672 million euros in the first half of 2015, from 201.059 million in the same period last year, while net losses rose slightly to 3.962 million euros from 3.381 million over the same period, respectively. EBITDA fell 10.2 pct to 20.052 million euros.
Frigoglass said net losses totaled 94,000 euros in the second quarter of the year, from net profits of 22,000 euros in 2014, while sales rose 1.2 pct to 111.212 million euros and EBITDA fell 8.8 pct to 11.992 million euros.
Nikos Mamoulis, chief executive of the group, commenting on the results said: "We are in a pleasant position to announce the continuation of a growing trend in sales to Coca Cola bottlers," and added that the sale of its glass manufacturing sector will enhance the group's balance sheet allowing Frigoglass to focus on its core business of professional freezers.
