Mexico's Mexichem expects sales to jump 11% in first quarter

23 March 2012 22:29  [Source: ICIS news]

MEDELLIN, Colombia (ICIS)--Mexican vinyls producer Mexichem expects first-quarter sales of Mexican pesos (Ps) 13.5bn ($1.1bn, €840m), an increase of 11% year on year, the company said on Friday.

Mexichem attributed the increase to higher sales volumes and prices in most business lines.

For the first quarter, the company forecast Ps3bn in earnings before interest, tax, depreciation and amortisation (EBITDA), an increase of over 16% year on year.

The increase in sales and EBITDA figures was due to an increase in sales volumes and prices. Mexichem also attributed the increase to lower energy costs, the result of competitive natural gas prices from North America.

Investments in machinery and equipment also helped the company's first-quarter performance, Mexichem said.

($1 = €0.76)
($1 = Ps12.83)

By: Leela Landress
+1 713 525 2653

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