Glaverbel Group in the first quarter

Date: 1 May 2002
Source: Glaverbel

Date: 1 May 2002

Against the background of a slowdown in the economy, the Group's performance in the first quarter of 2002 was in line with its forecasts, i.e. slightly down on the results for the corresponding period in 2001.

Consolidated sales in the first quarter amounted to EUR 468.5 million, compared with EUR 453.8 million one year previously. This represents a rise of 3% (or a decrease of 3% for the same consolidation scope)*, thanks mainly to the contribution by Bor Glassworks (RU). Also during the first quarter, the operating income amounted to EUR 55.9 million, compared with EUR 60.6 million last year, down by 8% (or 14% for the same consolidation scope). The net income (Group's share) amounted to EUR 32.3 million, down 11% compared with the first quarter of 2001.

The Building division suffered a contraction in activity, leading to a fall in volumes and prices whose effects could not be entirely offset by the growth in sales of products with high added value. This led to a decline of 18% in the operating income.
The Automotive division for its part enjoyed strong profitability growth from one quarter to the next (an increase of 27%), with a good volume of activity. However, during the first quarter of this year there was a relative slowdown in its operational recovery plan, with the startup of new production facilities.
The Industries division recorded a slight decrease in its operating income, mainly due to the contraction in the furniture market. More on the source link bellow.
600450 Glaverbel Group in the first quarter glassonweb.com

See more news about:

Others also read

MORE...

PPG Names Wulfsohn to European Post
William A. Wulfsohn, vice president and general manager of Nylon System for Honeywell International, has been named vice president of European coatings for PPG Industries (NYSE:PPG) and managing director of PPG Europe. "Bill will play a vital role in helping our European coatings businesses achieve their full potential," said Michael A.
Apogee Q3 results up on architectural glass activities
Apogee Enterprises Inc. reported level sales but an increase in earnings for the third quarter of its fiscal 2003. Bloomington-based Apogee, which makes glass products and services, said the earnings increase was mainly the result of improvements in its architectural glass business.
Bystronic acquires Armatec Vierhaus GmbH
Bystronic is to take over Armatec Vierhaus GmbH with effect from 1 January 2003. For Bystronic, a global supplier of system solutions for the manufacture of architectural and automotive glass, the takeover of Armatec, which specialises in laminated safety glass and handling systems, ideally complements the Bystronic portfolio.
Pilkington: New home for butterflies
The butterflies at Melbourne Zoo have gone upmarket with a new accommodation wing featuring Pilkington glass.
Owens-Brockway Glass Container Closes on Sale of Additional $175 Million Principal of 8-3/4% Senior Secured Notes
Owens-Brockway Glass Container Inc., an indirect wholly-owned subsidiary of Owens-Illinois, Inc., (NYSE: OI) announced today that is has closed on the sale of $175 million principal amount of its 8-3/4% Senior Secured Notes due November 15, 2012.
UCB Acquires Solutia'a Resins, Additives and Adhesives for $500 Million
UCB reached an agreement with Solutia to acquire Solutia's Resins, Additives & Adhesives activity for $500 million, plus a $10 million exclusivity fee.

Add new comment