Tecnoglass Gives Business enterprise Update and Boosts Comprehensive Year 2021 Expansion Outlook

Tecnoglass Gives Business enterprise Update and Boosts Comprehensive Year 2021 Expansion Outlook

Revenues of $456 Million and Adjusted EBITDA of $140 Million Calendar year to Day Through November 2021

– Operating Cashflow of Close to $100 Million By way of November 2021 –

Increases Complete 12 months 2021 Outlook for Revenue and Modified EBITDA to a Range of $490495 Million and $147-15 Million Respectively –

Presents Comments on What It Believes Are Inaccurate and Groundless Statements Designed in Brief Vendor Report

BARRANQUILLA, Colombia, Dec. 09, 2021 (Globe NEWSWIRE) — Tecnoglass, Inc. (NASDAQ: TGLS) (“Tecnoglass” or the “Company”), a foremost producer of architectural glass, home windows, and connected aluminum goods serving the world household and business stop markets, these days up-to-date the financial outlook it disclosed on November 8, 2021 for complete calendar year 2021. Calendar year to date by November 2021, Adjusted EBITDA has enhanced around 50% to about $140 million on total revenues of about $456 million. The Business continues to be on tempo to provide one more year of report dollars movement with funds circulation from functions at close to $100 million yr to date by way of November 2021. Based mostly on the financial efficiency by November 2021, the Firm is rising its entire yr outlook, with its expectation for income to be in the vary of $490 million to $495 million and Adjusted EBITDA in the range of $147 million to $150 million.

Tecnoglass also mentioned that it believes the current report issued by a short seller incorporates inaccurate statements, groundless claims, character assaults, and speculation with the intent of deceptive buyers and driving down the benefit of the Company’s shares for their particular acquire. The private, and arguably discriminatory, assaults on Tecnoglass executives produced by the short vendor show up to have been produced to distract from the Company’s achievements and progress. The Business also notes that adhering to the issuance of the short report, many stakeholders that are quite common with the Enterprise, together with extensive-phrase shoppers, have expressed their ongoing assist of the Enterprise and the management workforce.

The Company reiterated its expectation to continue to execute on its rewarding progress system and crank out money move to supply added value for its shareholders. The Enterprise also pointed out, as introduced on December 8, 2021, that the Firm improved its quarterly dollars dividend by 136%, as a indication of its self esteem in the Company’s capacity to reach its expansion targets and the strength of the momentum in the U.S. solitary-household residential business. Additionally, the favorable phrases and improved economical potential afforded by the upsizing of its oversubscribed credit history revolver in November 2021 enhance the Company´s monetary and operational strength.

Tecnoglass stays concentrated on executing its approach and encourages shareholders to read the Company’s filings with the Securities and Trade Commission, like its monetary success, audited by PricewaterhouseCoopers Ltda, which includes its New York centered Countrywide Office environment, the Company’s unbiased registered general public accounting business, for the third quarter ended September 30, 2021 for much more specifics on Tecnoglass’s efficiency, connected party transactions, accounting guidelines and procedures, and its outlook. The Firm urges buyers to not make selections dependent on the small seller report and to overview community filings for material details that pertains to its business enterprise.

About Tecnoglass

Tecnoglass Inc. is a top producer of architectural glass, home windows, and connected aluminum items serving the multi-family members, one-loved ones and professional finish markets. Tecnoglass is the 2nd major glass fabricator serving the U.S. and the #1 architectural glass transformation corporation in Latin The us. Positioned in Barranquilla, Colombia, the Company’s 2.7 million square foot, vertically-built-in and point out-of-the-artwork manufacturing elaborate gives effective access to in excess of 1,000 world-wide prospects, with the U.S. accounting for extra than 90% of revenues. Tecnoglass’ tailored, significant-close merchandise are identified on some of the world’s most exclusive homes, including One Thousand Museum (Miami), Paramount (Miami), Salesforce Tower (San Francisco), Through 57 West (NY), Hub50Household (Boston), Aeropuerto Internacional El Dorado (Bogotá), One particular Plaza (Medellín), Pabellon de Cristal (Barranquilla). For a lot more info, remember to pay a visit to www.tecnoglass.com or see our corporate video clip at https://vimeo.com/134429998.

Ahead Searching Statements

This press release involves specified forward-looking statements inside the which means of the Non-public Securities Litigation Reform Act of 1995, like statements regarding long term monetary performance, foreseeable future advancement and long run acquisitions. These statements are based on Tecnoglass’ existing expectations or beliefs and are issue to uncertainty and alterations in instances. True outcomes may well change materially from those people expressed or implied by the statements herein owing to modifications in economic, organization, aggressive and/or regulatory aspects, and other threats and uncertainties affecting the operation of Tecnoglass’ business. These dangers, uncertainties and contingencies are indicated from time to time in Tecnoglass’ filings with the Securities and Trade Fee. The data set forth herein should really be browse in light-weight of these kinds of threats. Further more, investors should maintain in thoughts that Tecnoglass’ financial results in any specific period of time may perhaps not be indicative of long run results. Tecnoglass is beneath no obligation to, and expressly disclaims any obligation to, update or alter its forward-searching statements, no matter if as a consequence of new facts, long term situations and improvements in assumptions or if not, apart from as demanded by legislation.

Investor Relations:

Santiago Giraldo
[email protected]