Third Quarter 2013 Highlights include: Consolidated EBITDA increased 0.6% year-on-year to US$106M, reflecting a good performance by the container division, counterweighting a lower result in the flat glass unit. As a continued effort to reduce even further the debt leverage, the Company has been able to reduce the net debt by US$83M to US$1,039M, from US$ US$1,122M in the previous quarter, supported by a healthy cash flow from operations of US$100M. Consolidated net sales declined 6.1% year-over-year to US$ 427M, primarily reflecting the impact of adverse weather caused by hurricanes Manuel and Ingrid in Mexico during September and lower sales volumes, particularly in the Automotive and Beer segments at Flat Glass and Glass Containers, respectively. Commenting on Vitro’s outlook and performance, Mr. Adrian Sada Cueva, Chief Executive Officer, said, "We have had several key accomplishments this year and continue to make progress on our strategy to further enhance operational and financial performance. Further capitalizing on our existing growth opportunities, this quarter we regained additional OEM (Original Equipment Manufacturers) business that we lost during our debt restructuring process. At the same time, the prepayment of our US$122.4M Mandatory Convertible Note in July has contributed to reduced financing costs and further strengthened our balance sheet."
