Salomó Asmar Soto – [email protected]
For the second time in its history, the CEO of the canyon company Tecnoglass, José Manuel Daes, along with his brother Christian Daes, COO of the company, rang the bell of Nasdaq, the technology exchange in New York. After the stock first traded in the New York stock exchange in 2014, the stock price has risen 109.7% and more than 203% in the last year.
Analyzing so far in 2021, the stock during the first half gained 217.75%, and so far in the second half of 2021 has fallen 2%, but in August has climbed 8.70%. In general, the historical prices of the species have exceeded US $ 20 so far this year, closing last June a session with sales of more than US $ 20 million, a figure higher than the traded that day on the Colombian stock exchange.
“Our listing on the Nasdaq is an important milestone in our growth and it is an honor for us to be able to ring the opening bell. Since our foundation more than 30 years ago, Tecnoglass has become one of the leaders in the industry, with more than 300 customers across the Americas, ”said the company’s COO, Christian Daes.
For the barranquillero businessman the records that the action of Tecnoglass in Nasdaq has achieved are attributed to the result of “a continuous work and of not looking in the short term but in the long term”.
For his part, his brother José Manuel Daes, COO, assured that the company will continue to work “to maintain this growth”, while continuing to offer top quality products and good customer service “.
Currently, Tecnoglass comes from its most profitable quarter after a 48.5% increase in revenue, for a total of US $ 127,700,000. In this same period, profit grew 52.9%, equivalent to US $ 48.6 million, the result of greater operational efficiency and a greater combination of revenue from manufacturing activity compared to installation. lation.
For its part, adjusted EBITDA increased 52.7% to US $ 35.6 million, 29.3% of total revenue for the second quarter, compared to $ 23.3 million and 28.4% of revenue in the previous quarter.
For the company the figure was driven by more sales, a more solid gross margin and an operational leverage in sales, general and administrative expenses.
In June this year, Tecnoglass announced the construction of three new plants in Barranquilla, in addition to 22,000 square meters and with an investment of US $ 18 million. As indicated, part of the sum will be used for the purchase of new machinery for metal panels and extruder machines, among others.