Orbia Announces Third Quarter 2024 Financial Results
ORBIA ADVANCE DE UNSP/ADR (MXCHY)
NASDAQ:AMEX Investor Relations:
mexichem.com/investors
Company Research
Source: Business Wire
MEXICO CITY--(BUSINESS WIRE)--Orbia Advance Corporation, S.A.B. de C.V. (BMV: ORBIA*) (“the Company” or “Orbia”) today released unaudited results for the third quarter of 2024.Orbia delivered EBITDA of $288 million for the third quarter of 2024. Weak market conditions persist and the Company remains cautious for the remainder of the year. Orbia continued to focus on optimizing its cost structure and managing cash flows, resulting in a strong operating cash flow conversion rate of 98% of EBITDA for the quarter.Q3 2024 Financial Highlights(All metrics are compared to Q3 year 2023 unless otherwise noted)Net revenues of $1,887 million decreased 4%, driven by lower volumes across all businesses, except for Fluor & Energy Materials and Connectivity Solutions, and lower prices in the Polymer Solutions and Connectivity Solutions business groups.EBITDA of $288 million decreased 10%, driven by lower revenues due to weak construction activity and infrastructure investment, as well as lower p
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