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The period from March to June was historic for Mexichem, since the company managed to generate the highest EBITDA for a quarter thanks to the organic growth of the company and the consolidation of the company. Purchase made by the Israeli company Netafim irrigation systems.
Between April and June, Ebitda or Mexichem's operating cash flow amounted to $ 423 million, representing a growth of 29% over the same quarter of the year. 39, previous year. In addition, net sales were $ 1,968 million, up 35% year-over-year.
"This has been another exciting quarter of significant successes that validate all the strategies and plans we have implemented to transform Mexichem," said Daniel Martínez-Valle, CEO of the company.
Read: Mexichem completes the acquisition of Netafim
According to the company, Netafim sales amounted to $ 286 million, boosting sales of the 49% Fluid Enterprise division, where this signature is included. The activities of the irrigation company already accounted for 25% of Fluent's sales.
However, the Vinyl division achieved the best performance of the quarter with 12% growth in sales and 14% in Ebitda. The Resins, Compounds and Derivatives Division grew by 11% and 10% respectively in both revenues and EBITDA.
The operating stream has shown the greatest integration of the value chain, with the startup of the Texas ethylene cracker, which provides the raw material for part of its petrochemical business, according to the report. fbAsyncInit = function () {
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