Grupo Vasconia, S.A.B. Reports Earnings Results for the First Quarter Ended March 31, 2023
May 03, 2023 at 12:28 pm EDT
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Grupo Vasconia, S.A.B. reported earnings results for the first quarter ended March 31, 2023. For the first quarter, the company reported sales was MXN 759.11 million compared to MXN 1,318.51 million a year ago. Net loss was MXN 68.41 million compared to net income of MXN 18.54 million a year ago.
Basic loss per share from continuing operations was MXN 0.71 compared to basic earnings per share from continuing operations of MXN 0.19 a year ago. Diluted loss per share from continuing operations was MXN 0.71 compared to diluted earnings per share from continuing operations of MXN 0.19 a year ago.
Grupo Vasconia SAB is a Mexico-based company engaged in the manufacture and sale of steel and aluminum goods for the household use. The Companyâs activities are structured in two business divisions: Kitchen Products and Flat Aluminum. The Company's products portfolio comprises such items as pressure cookers, pans, griddles, cooking pots, utensils, specialty aluminum pancake pans, aluminum ladles and beakers, multifunction pans, baking molds, scales, knives and chopping boards, among others. The Companyâs products are marketed under the Ekco, Presto, Regal, Wallace, Towle, Melannco, Pfaltzgraff, Pedrini and Thermos brands. As of December 31, 2011, the Company owned such subsidiaries as Ekco Queretaro SA de CV, La Vasconia (Espana) SA, Fomento Productivo SA de CV, Vasconia Housewares LLC, Industria Mexicana del Aluminio SA de CV and Industrias Ekco SA de CV, and LTB de Mexico SA de CV which was its major shareholder with 29.9% of its interest.
GRUPO VASCONIA, S.A.B. 