Trading Update for 2019

Date: 27 January 2020
Trading Update for 2019
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.
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