Grupo Vasconia, S.A.B. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
October 29, 2022 at 01:49 am
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Grupo Vasconia, S.A.B. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was MXN 1,142.17 million compared to MXN 1,236.29 million a year ago. Net loss was MXN 136.68 million compared to net income of MXN 55.85 million a year ago. Basic loss per share from continuing operations was MXN 1. Diluted loss per share from continuing operations was MXN 1. Basic loss per share was MXN 1.41. Diluted loss per share was MXN 1.41.
For the nine months, sales was MXN 3,785.92 million compared to MXN 3,508.86 million a year ago. Net loss was MXN 77.04 million compared to net income of MXN 126.89 million a year ago. Basic loss per share from continuing operations was MXN 1. Diluted loss per share from continuing operations was MXN 1. Basic loss per share was MXN 0.8 compared to basic earnings per share of MXN 1.31 a year ago. Diluted loss per share was MXN 0.8 compared to diluted earnings per share of MXN 1.31 a year ago.
Grupo Vasconia SAB is a Mexico-based company engaged in the manufacture and sale of steel and aluminum goods for the household use. The Companyâs activities are structured in two business divisions: Kitchen Products and Flat Aluminum. The Company's products portfolio comprises such items as pressure cookers, pans, griddles, cooking pots, utensils, specialty aluminum pancake pans, aluminum ladles and beakers, multifunction pans, baking molds, scales, knives and chopping boards, among others. The Companyâs products are marketed under the Ekco, Presto, Regal, Wallace, Towle, Melannco, Pfaltzgraff, Pedrini and Thermos brands. As of December 31, 2011, the Company owned such subsidiaries as Ekco Queretaro SA de CV, La Vasconia (Espana) SA, Fomento Productivo SA de CV, Vasconia Housewares LLC, Industria Mexicana del Aluminio SA de CV and Industrias Ekco SA de CV, and LTB de Mexico SA de CV which was its major shareholder with 29.9% of its interest.
GRUPO VASCONIA, S.A.B. 
