Fabricato Posts Historically Profitable 1Q 2022, Best in 8 Years
Medellin-based textile/clothing giant Fabricato announced May 5 that its first quarter (1Q) 2022 net income jumped to COP$5.9 billion (US$1.45 million), a big year-on-year improvement over the COP$2.4 billion (US$590,000) net loss in 1Q 2021 — and the best 1Q result in eight years.
Textile sales also jumped 40% year-on-year, to COP$126 billion (US$31 million), the best result in 10 years.
Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) likewise showed dramatic improvement, at COP$17.9 billion (US$4.4 million), up 114% over 1Q 2021 and a smashing 1,059% improvement over 1Q 2020, according to the company.
In total, “96% of the result achieved at the EBITDA level corresponds to the textile operation,” with the other 4% coming from Fabricato’s emerging real-estate operations.
“Fabricato has a new direction, better results and evolving with vision, innovation, commitment and action to meet the challenges that arise in the textile industry,” according to the company.
The positive changes emerge even despite a “complex national environment and the vicissitudes of a textile-clothing policy that the government has to resolve,” according to the company.
Unlike clothing industries in many neighboring countries, Colombia has strong potential to take advantage of an “integrated production chain — from spinning to the making” of finished products, according to Fabricato.
“Our textile offerings — with sustainable and environmentally friendly products – meet the satisfaction of clients and consumers, and help revive the Colombian industry,” the company added.
