Convertidora Industrial, S.A.B. de C.V. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 27, 2023 at 02:13 pm EDT
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Convertidora Industrial, S.A.B. de C.V. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was MXN 344.78 million compared to MXN 337.8 million a year ago. Net loss was MXN 10.42 million compared to MXN 19.57 million a year ago. Basic loss per share from continuing operations was MXN 0.13 compared to MXN 0.24 a year ago. Diluted loss per share from continuing operations was MXN 0.13 compared to MXN 0.24 a year ago.
For the nine months, sales was MXN 1,125.44 million compared to MXN 1,280.76 million a year ago. Net loss was MXN 13.17 million compared to MXN 11.43 million a year ago. Basic loss per share from continuing operations was MXN 0.16 compared to MXN 0.14 a year ago. Diluted loss per share from continuing operations was MXN 0.16 compared to MXN 0.14 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. 
