Tecnoglass Inc. (NYSE:TGLS) Q1 2024 Earnings Call Transcript

Santiago Giraldo: On the full year, the main impact is going to be FX. We’re projecting 4,000 on an average. Last year was roughly 4,350. It’s an 8% revaluation year-over-year. So, you have an impact on negative FX and then the other two factors are mix and operating leverage. And then essentially, if you are getting to the upside case, the operating leverage on incremental revenue nets out the mix effect, right? So, on that scenario, your only variance is related to effect. On the base case, you have roughly what we’re expecting is probably about 10% to 15% more mix and standalone product sales and other than that, pricing should not be a factor from here on out because the pricing impacts were only related to a promotional effect that was done in Q4 for Q1 sales, and that’s essentially concluded. So, it’s going to be more of a mix effect.

Operator: This concludes our question-and-answer session. I would like to turn the conference back over to Jose Manuel Daes for any closing remarks.

Jose Manuel Daes: Well, thanks, everyone for participating on today’s call. As I have reiterated, our company is going to do better things, penetrate more markets and give much better results to our shareholders and everybody. Thank you.

Operator: The conference is now concluded. Thank you for attending today’s presentation. You may now disconnect.