Grupo Vasconia, S.A.B. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
July 28, 2023 at 04:24 pm EDT
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Grupo Vasconia, S.A.B. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was MXN 745.2 million compared to MXN 1,325.24 million a year ago. Net loss was MXN 112.07 million compared to net income of MXN 41.1 million a year ago. Basic loss per share from continuing operations was MXN 1.16 compared to basic earnings per share from continuing operations of MXN 0.43 a year ago. Diluted loss per share from continuing operations was MXN 1.16 compared to diluted earnings per share from continuing operations of MXN 0.43 a year ago.
For the six months, sales was MXN 1,504.31 million compared to MXN 2,643.75 million a year ago. Net loss was MXN 180.48 million compared to net income of MXN 59.64 million a year ago. Basic loss per share from continuing operations was MXN 1.87 compared to basic earnings per share from continuing operations of MXN 0.62 a year ago. Diluted loss per share from continuing operations was MXN 1.87 compared to diluted earnings per share from continuing operations of MXN 0.62 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. 