– Revenues of $456 Million and Modified EBITDA of $140 Million Calendar year to Day Through November 2021 –
– Operating Cashflow of About $100 Million As a result of November 2021 –
– Raises Full Year 2021 Outlook for Income and Altered EBITDA to a Range of $490–495 Million and $147-15 Million Respectively –
– Delivers Comments on What It Believes Are Inaccurate and Groundless Statements Manufactured in Shorter Vendor Report –
BARRANQUILLA, Colombia, Dec. 09, 2021 (World NEWSWIRE) — Tecnoglass, Inc. (NASDAQ: TGLS) (“Tecnoglass” or the “Company”), a leading maker of architectural glass, home windows, and involved aluminum items serving the world-wide residential and commercial end markets, now updated the fiscal outlook it disclosed on November 8, 2021 for complete 12 months 2021. Year to date through November 2021, Modified EBITDA has elevated more than 50% to roughly $140 million on total revenues of around $456 million. The Corporation stays on rate to supply yet another 12 months of record dollars flow with hard cash stream from operations at around $100 million 12 months to day by November 2021. Dependent on the fiscal general performance by way of November 2021, the Firm is increasing its complete 12 months outlook, with its expectation for profits to be in the assortment of $490 million to $495 million and Adjusted EBITDA in the vary of $147 million to $150 million.
Tecnoglass also observed that it believes the current report issued by a limited vendor includes inaccurate statements, groundless statements, character assaults, and speculation with the intent of misleading investors and driving down the price of the Company’s shares for their private gain. The private, and arguably discriminatory, assaults on Tecnoglass executives manufactured by the brief vendor look to have been made to distract from the Company’s achievements and progress. The Enterprise also notes that next the issuance of the quick report, various stakeholders that are really familiar with the Company, like lengthy-time period purchasers, have expressed their continued aid of the Business and the management staff.
The Corporation reiterated its expectation to go on to execute on its successful advancement system and produce income move to produce added benefit for its shareholders. The Organization also noted, as announced on December 8, 2021, that the Organization elevated its quarterly money dividend by 136%, as a indicator of its self-assurance in the Company’s potential to obtain its development objectives and the toughness of the momentum in the U.S. solitary-family members residential company. Also, the favorable phrases and greater monetary capability afforded by the upsizing of its oversubscribed credit revolver in November 2021 reinforce the Company´s fiscal and operational energy.
Tecnoglass continues to be centered on executing its strategy and encourages shareholders to go through the Company’s filings with the Securities and Exchange Commission, like its economical success, audited by PricewaterhouseCoopers Ltda, such as its New York centered Countrywide Office, the Company’s independent registered public accounting firm, for the third quarter finished September 30, 2021 for far more particulars on Tecnoglass’s functionality, linked social gathering transactions, accounting procedures and procedures, and its outlook. The Enterprise urges buyers to not make decisions dependent on the short seller report and to overview general public filings for materials information and facts that pertains to its business.
Tecnoglass Inc. is a major producer of architectural glass, windows, and associated aluminum solutions serving the multi-household, solitary-loved ones and professional finish marketplaces. Tecnoglass is the 2nd largest glass fabricator serving the U.S. and the #1 architectural glass transformation business in Latin The usa. Found in Barranquilla, Colombia, the Company’s 2.7 million square foot, vertically-built-in and condition-of-the-art production advanced delivers economical entry to around 1,000 world customers, with the U.S. accounting for extra than 90% of revenues. Tecnoglass’ tailored, superior-conclude merchandise are discovered on some of the world’s most distinct qualities, such as One particular Thousand Museum (Miami), Paramount (Miami), Salesforce Tower (San Francisco), By means of 57 West (NY), Hub50Home (Boston), Aeropuerto Internacional El Dorado (Bogotá), One Plaza (Medellín), Pabellon de Cristal (Barranquilla). For a lot more information, you should check out www.tecnoglass.com or watch our company movie at https://vimeo.com/134429998.
Forward Seeking Statements
This press launch contains specific forward-hunting statements inside the this means of the Personal Securities Litigation Reform Act of 1995, like statements regarding potential money functionality, long run development and long run acquisitions. These statements are based on Tecnoglass’ current expectations or beliefs and are subject to uncertainty and changes in conditions. Real effects may range materially from all those expressed or implied by the statements herein because of to improvements in financial, business enterprise, competitive and/or regulatory aspects, and other risks and uncertainties influencing the procedure of Tecnoglass’ business. These threats, uncertainties and contingencies are indicated from time to time in Tecnoglass’ filings with the Securities and Exchange Fee. The information established forth herein ought to be browse in light of this kind of threats. Additional, investors ought to continue to keep in mind that Tecnoglass’ money final results in any specific period may perhaps not be indicative of potential final results. Tecnoglass is less than no obligation to, and expressly disclaims any obligation to, update or change its ahead-wanting statements, no matter if as a outcome of new information and facts, long run situations and alterations in assumptions or in any other case, besides as expected by legislation.