April 13, 2024

Industrias Estra Posts Profitable 2022, Reversing Net Losses in 2021

Medellin-based industrial/consumer plastics-ware producer Industrias Estra announced March 29 a net profit of COP$1.58 billion (US$345,000) for full-year 2022, reversing a net loss of COP$1.96 billion (US$516,000) for full-year 2021.

Earnings before interest, taxes, depreciation and amortization (EBITDA) likewise dramatically improved, to COP$15 billion (US$3.3 million), from COP$7.98 billion (US$1.7 million) in 2021.

Gross revenues also improved, to COP$96.8 billion (US$21 million), from COP$86 billion (US$18.8 million) in 2021.

“In 2022, the results achieved by the company reflect the economic dynamism of the Colombian economy and, in particular, the recovery of household consumption, which allowed the company to achieve 12% growth in revenue and 31% in operating profit compared to 2021,” according to Estra.

The company also cited “good performance of revenues generated by all the company’s business channels, and the stability achieved in the costs of raw materials, which was the main cause of the deterioration of the results of 2021.”

Gross margin also rose in 2022, hitting 32.9%, versus 28.1% in 2021, according to Estra.

“The results achieved made it possible to use internal generation of funds as the main source of liquidity for the company and meet the operating, investment and financing needs with our own resources during the year,” according to the company.

“The good operational performance of 2022 strengthened the company’s operating income, liquidity, profitability and reduced indebtedness. It also allowed progress in the supplier payment policy, as well as investment in modernization of industrial equipment, injection molds and new products and in the ability to honor the commitments associated with financial liabilities.

“Finally, the result achieved in 2022 allows progress in compliance with the company’s strategic plan and continue with its policy of opening new markets, payment to suppliers and technological modernization in molds and industrial equipment,” the company added.

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