Convertidora Industrial, S.A.B. De C.V. Reports Earnings Results for the Fourth Quarter Ended December 31, 2020
February 26, 2021 at 04:47 pm EST
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Convertidora Industrial, S.A.B. De C.V. Announced earnings results for the fourth quarter ended December 31, 2020. For the fourth quarter, the company announced sales was MXN 459.321 million compared to MXN 343.475 million a year ago. Operating income was MXN 54.953 million compared to MXN 37.681 million a year ago. Net income was MXN 4.889 million compared to MXN 3.516 million a year ago. Basic earnings per share was MXN 0.06 compared to MXN 0.04 a year ago. For the full year, sales was MXN 1,587.373 million compared to MXN 1,389.451 million a year ago. Operating income was MXN 185.036 million compared to MXN 123.045 million a year ago. Net income was MXN 33.838 million compared to net loss of MXN 9.273 million a year ago. Basic earnings per share was MXN 0.42 compared to basic loss per share of MXN 0.12 a year ago.
Convertidora Industrial SAB de CV (Conver) is a Mexico-based company engaged in the production, distribution and sale of plastic film for food packaging and articles used for party's decorations. The Company's business is structured in four divisions: Conver Empaque Flexible, which produces plastic films, printed reels, plastic bags and pouches used in the food packaging industry; Convergram, which comprises the production and marketing of a variety of balloons under the Kaleidoscope brand; Casematic, which specializes in the production of sausage casings, and Conver Publicidad, which includes the manufacturing and sale of such advertising gadgets as balloons, clappers, wall hangings and envelopes, which are intended for the promotion of other companiesâ logos. As of December 31, 2011, the Company owned such subsidiaries as Asesoria Ejecutiva de Negocios SA de CV, GlobosInter SA de CV, Conver-Industrial SA de CV and Convergram Mexico S de RL de CV.
CONVERTIDORA INDUSTRIAL, S.A.B. DE C.V. 
