Preliminary sales for 2015 are 820,000 million pesos. For this year, the growth forecast is 20% and estimated to continue increasing its value with its foray into the local stock market.
The parent company Tecnoglass Inc., specialized in manufacturing of high quality window frames for the residential and commercial construction industry, expects to maintain a growth rate in sales close to 40% in 2016.
The solid financial figures last year and its debut in the Colombian Stock Exchange (BVC) in early January are important achievements for the company that will be available to all Colombians who wish to invest in it.
This business group, consisting of several subsidiaries like Tecnoglass SA, focused on the transformation of glass and aluminum, and Energía Solar, focused on the assembly of architectural systems, will continue to pursue the glass and window frames market to convert Barranquilla into a world-class axis of industrial development.
Currently, the business conglomerate, which has about 5,000 workers operating in a 260,000 square meter plant located in the capital of the Atlántico department maintains business relationships with nearly 800 customers spread over 27 countries, among which are customers the United States, Colombia, Panama and Bolivia.
In a market that moves about 30,000 million dollars in the United States, Tecnoglass occupies an important position and at the close of 2015 would record sales of more than US $ 240 million.
To continue to achieve success, the Colombian company expects to continue taking advantage of its vertical integration model among its subsidiaries: Tecnoglass is responsible for transforming the glass and then sells it to Energía Solar.
Furthermore, the use of cutting edge technology has enabled the manufacture of new products like glass that retains no energy.
The figures do not lie and show that in the first nine months of 2015, adjusted net income increased 20,6% compared to the same period of 2014 which was 13.8%. By the close of 2015, the EBITDA would be close to $ 65 million.
In terms of investment, the company invested this year in a new 20,000 square meter, $40 million dollar ‘soft coat’ glass plant. This could boost sales by up to 20% (US $ 200 million over the next five years) and employ over 700 people.
INCURSION INTO THE COLOMBIAN STOCK EXCHANGE
The operations of this Colombian industry 'jewel' has made investors believe in the company and, according to Jose Manuel Daes, President and CEO of Tecnoglass Inc., the recovery in the last two years reached levels of 35%,in dollars, and 130%, in Colombian pesos.
From the January 6, the Colombian Stock Exchange (BVC) approved the double listing of the common shares of the glass producer under the ticker TGLSC.
Note that the titles of Tecnoglass Inc., listed on the Nasdaq stock market, are unique in being listed in the second most liquid exchange in the global equity market.
"We decided to make this double listing with the Colombian Stock Exchange because we want to diversify our shareholder base and expand our exposure and access to the investment community of our country. We are a Colombian company for the world ", said Daes.
With the entry of the new emission, local and foreign investors may acquire shares in both the BVC and Nasdaq through stockbrokers.
The initial price for the share will be the closing price on Nasdaq the preceding day and converted by the Representative Market Rate (TRM) that day.
Being listed on Nasdaq has allowed Tecnoglass Inc. to "be more competitive, constantly innovate and bring best practices with a rigorous corporate governance ", which aims to give investors confidence about the future of the company according to the president of the company.
"We will work hard to be the first choice for local investors, "concluded Daes.
Yesterday, Tecnoglass Holdings held its first meeting with the media after being listed in the Colombian Stock Exchange (BVC) on january 6. Christian Daes, company COO, told LR, that the listing process was performed twice because people here in Colombia wanted to buy our shares, but had to open an account in the United States to be able to. He also stated that this year will be good for the company, both in Colombia and outside the country and with the foray into the stock market they want to have a volume of 100,000 shares.
Tecnoglass, headquartered in Barranquilla, entered Nasdaq in 2013 to raise capital. According to the company, the last two years increased the company’s value by around 35% in dollars, which means that in Colombian pesos it has reached a valuation of 130%.
What are your expectations with your listing in the Colombian Stock Exchange ?
Expectations are very positive. We hope to consolidate our investors in Colombia and the United States. The first year we moved 4,000 shares in Nasdaq; in the second year, 8,000 shares and this year we expect to double the volume to around 31,000 shares. The goal is to reach a volume of 100 thousand shares.
Why go to the local market at a time when the markets are so low?
In the United States the competition has lost share value, but not us. We hope the same thing happens in Colombia because we want to be known across the whole country and that we have many quality products.
What is your plan to improve liquidity of the shares?
Within our priorities we plan visit major cities in Colombia and for our customers in the country to become shareholders. In addition, we are working on forming a liquidity program to increase the volume of share, and we are working with with Credicorp Capital and Casa de Bolsato this end. The final plan will be reported at a later date.
What investment plans do you have for the company?
This year we will continue working on expanding the company’s infrastructure and new business lines. We hope to continue to grow this year in sales and we hope to sell nearly (COP) $ 1.1 billion.
How will you finance these processes?
We were recently granted a credit of around US $ 120 million, which will be used to refinance a debt of about US $ 83 million to be paid in seven years, an additional US $ 30 million will be used to finance expansion in our plant facilities. With this capital we will work in 2016.
How has the devaluation of the colombian peso in the last year affected you?
The strengthening of the dollar has impacted us favorably. We suffered for many years due to reevaluation and the industry was not profitable. We can now have more export earnings. It helps that the exchange rate will not be based on the export of oil or coal, it is the time for the country's exporters.
Have sales in Colombia have been affected by the devaluation?
Clearly they have been affected because the raw material for our products is imported. Additionally, going from peso to dollar sales would seem to affect sales. However, in Colombia, our customers give us advances on the work, allowing us to work without having to stop production.
How do you see the slowdown?
We can’t be pessimistic because it is a process that is affecting all countries and we are hopeful because we are having more sales in pesos. Also, this year in construction we’ve had a lot of serious interest in our products.
Projections of increased sales by 20% in 2016
According to the company with the investments this year like the US $40 million, 20,000 square meter soft coat glass plant, Tecnoglass Inc. plans to increase its sales by 20% in 2016. This plant will employ more than 700 people and generate an estimated increase in sales of US $ 200 million over the next five years. By the close of 2015, the company expects sales of more than US $ 240 million and EBITDA of US $ 65 million.
"Having Tecnoglass on the BVC is positive because it sends a message to other companies that it is an adequate market to find resources"
José Manuel Daes
CEO of Tecnoglass
“We have decided to make this double listing with the BVC because we want to diversify our shareholder base and expand our exposure”
Source: La República
With the investments made in recent months the company plans to increase its sales by 20% in 2016.
BOGOTA. Barranquilla company Tecnoglass expects to close 2015 with sales of more than US $ 240 million and an EBITDA of $ 65 million, as announced this morning at a press conference in Bogotá by its president Rodolfo Espinosa.
He also noted that with the investments made in recent months, like the new 40 million dollar, 20,000 square meter soft coat glass plant, the company plans to increase its sales by 20 percent in 2016.
" This plant will employ more than 700 people and generate an estimated increase in sales of 200 million over the next five years, "he said.
He reiterated also that the Colimbian Stock Exchange, BVC, has approved the double listing of the ordinary shares from the company starting on January 6, 2016, under the ticker TGLSC. And the shares will remain listed on the Nasdaq Stock Market in the United States.
For his part, the CEO, José Manuel Daes, said in a statement that "in 2013 we took the big step of entering Nasdaq to raise capital and It has been a total success for our investors and our business group. In the last two years we have increased value by 35% in dollars and 130% in Colombian pesos considering the exchange rate. We decided to make this double listing with the Colombian Stock Exchange because we want to diversify our shareholder base and expand our exposure and access to the investment community of our country. We are a company made by Colombians for the world.
"With this new stock emission, local and foreign investors can acquire shares of Tecnoglass Inc. in both the BVC and Nasdaq, through stock brokers.
In December 2013, the company debuted in the Nasdaq stock exchange at a share price of US $ 10.18 and placed about 15% of its shares among investors in the American public. Two years later, the price is trading around US $ 13.70.
Tecnoglass is a manufacturing company dedicated to architectural glass windows for global industries in residential and commercial construction. Headquartered in Barranquilla, it has an industrial complex of more than 220 thousand square meters, vertically integrated, providing access to the Americas, the Caribbean and the Pacific. It sells its products to over 800 customers in more than 27 countries in North, Central and South America and exports approximately 60% of its production.
Fuente: El Heraldo
The only Colombian company listed on Nasdaq announced more than 24 million shareholders as of this year may make dual investments.
This means that the shares listed on the American Stock Exchange are now in the Colombia Stock Exchange. Local and foreign investors can acquire shares of Tecnoglass in both BVC and Nasdaq. The purchase price will be based on the closing price in Nasdaq converted at the Representative Market Rate for that day.
According to Jose Manuel Daes, Tecnoglass CEO, this opens up possibilities for negotiating an opening in the market for all Colombians who want to invest and assures that the company will continue betting on the glass and window frame market.
The company also announced that it received approval for a US $ 109.5 million loan, which will be used to refinance an existing US $ 83.5 million debt and also US $ 26 million destined to capital expenditures and operational budget.
It should be noted that the Tecnoglass shares in Nasdaq are trading at about US $ 13.70, after starting price, two years ago, of US $ 10.18.
Finally, the company assures that it expects 2015 closing sales of $ 240 million and aims to increase its sales in 2016 by 20%.
Source: La W
Tuesday Tecnoglass, a company headquartered in Barranquilla and dedicated to the manufacture of glass, said they got a syndicated loan for around US $ 120 million, of which about US $ 80 million will be used to refinance debt to seven years and the remaining US $ 30 million for investment projects in its facilities during 2016.
Rodolfo Espinosa, president of Energía Solar, ESWindows a subsidiary of Tecnoglass Holding, said that this loan was 70% approved by banks abroad.
Regarding the process of emission in the Colombian Stock Exchange (BVC), Espinosa said that they were looking to start a program to form liquidity for the company and are talking with Casa de Bolsa and Credicorp Capital.
In addition They explained that with the entrance to the Colombia Stock Exchange people in Colombia are seeking to buy shares in the company without having to enroll in the United States market.
"In 2013 we took the big step of entering and raising capital in NASDAQ and it has been a great success for our investors and to the business group. In the last two years we have recovered by 35% in dollar terms and 130% in Colombian pesos at the exchange rate, "stressed José Manuel Daes, CEO of Tecnoglass Inc.
The company from Barranquilla has been trading in the BVC since January 6, 2016, presents its financial statement for 2015 with 39% Ebitda up to September and sales of $ 828,020 million at year end .
In a press conference on Tuesday, the Colombian company which premiered at the Colombian stock exchange last week released its 2015 balance which highlights an Ebitda of 36% in 2015 compared to 21% for the same period last year.
The President of one of the companies that compose Tecnoglass: Solar ESWindows SA, Rodolfo Espinosa, reported that sales of Colombian operations reached $ 828,020 million at the close of 2015.
Tecnoglass entered the BVC with the ticker symbol TGLSC and at a starting price of $ 43,220.07 at opening. The last closing price recorded on January 12 was $ 45,000. The company will also be listed on the Nasdaq Stock Exchange in the US, where it has been trading since 2013, being the first and only Colombian company to enter that market.
José Manuel Daes, Tecnoglass Inc. CEO, reported in a press release that the company has grown by 35% in dollars and 130% in Colombian pesos during the past two years, considering the effect of the exchange rate. By the close of 2015, they are expecting record sales of more than US $ 240 million, with an EBITDA of US $ 240.
With investments made in 2015 for more than US $ 40 million, like the new 20,000 square meter soft coat glass plant, Tecnoglass plans to increase its sales by US $ 200 million over the next five years and estimates that will generate over 700 jobs.
Tecnoglass’ success addresses the current dollar pricing by exporting about 60% of its production, which is based on high quality architectural glass and windows for residential and commercial construction. Headquartered in Barranquilla, it operates a modern industrial complex of more than 220,000 square meters, becoming the first company that manages windows with full vertical integration.
During their first day on the Colombian Stock Exchange (BVC), shares from the Barranquilla business Tecnoglass (TGLSC) increased by 5.28%, becoming the most widely valued in the day.
The reference price that was opened at $ 43,220.07 and closed at $ 45,500. The trading volume of $ 57,967,000 was recorded with 1,274 units traded.
In contrast Ecopetrol shares hit a record low, by closing at $ 1,060, with a variation of -2.30%. The decline began last December 23 when it was priced at $ 1,205.
The 14 of December was its previous lowest price since the shares were emitted at $ 1,090.
The share with the highest trading volume was Nutresa, at $ 16,973.69 million.
Yesterday the BVC capitalization index (Colcap) closed 1129.32 units with a decline of 1.14% compared to Tuesday's session.
Fuente: El Heraldo