Frigoglass S.A.I.C. (“Frigoglass”) announces that, based on preliminary results from unaudited management accounts and information currently available, it expects sales and EBITDA from its commercial refrigeration business for the full-year 2019 to increase by approximately 16- 17% and 47-49% year-on-year, respectively, primarily reflecting sustained customer cooler investments in Europe and cost reduction initiatives related to production.
In its glass business, Frigoglass expects sales and EBITDA for the full-year 2019 to show an increase of approximately 11-12% and 17-19% year-on-year, respectively, mainly due to glass containers and metal crowns volume growth and pricing initiatives in Nigeria.
As a result, group sales and EBITDA for the full-year 2019 are expected to increase by approximately 15-16% and 30-32%, respectively, year-on-year.
Frigoglass expects full-year capital expenditure of approximately €28-30 million in 2019.
