Orbia Announces Fourth Quarter and Full-Year 2023 Financial Results [Yahoo! Finance]
ORBIA ADVANCE DE UNSP/ADR (MXCHY)
NASDAQ:AMEX Investor Relations:
mexichem.com/investors
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Source: Yahoo! Finance
Orbia delivered EBITDA of $226 million for the fourth quarter of 2023 and $1.46 billion for the full year 2023, in line with recent guidance, demonstrating its resilience and ability to manage through a challenging market environment. Market conditions in the construction, infrastructure and capital investment sectors remained weak due to continued high interest rates and lower demand in China. Despite these pressures, for both the quarter and the year, Orbia maintained strong operating cash flows and a solid balance sheet. Q4 2023 Financial Highlights (All metrics are compared to Q4 2022 unless otherwise noted) Net revenues of $1.8 billion decreased 16%, driven by lower sales in Polymer Solutions, Connectivity Solutions and Building & Infrastructure. EBITDA of $226 million decreased 27%, driven by lower volumes and prices in certain segments, partially offset by higher profitability in Precision Agriculture and Building & Infrastructure. Operating Cash Flow of $328 million
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