Draxton accumulated two thirds of total group sales. During the year, it sold 868 million dollars, which represented a advance of 26%.
The Coatings Business Vitromex registered sales of 238 million dollars, which represented a 16% increasewhile cinsaits segment focused on the home, made sales of 101 million dollars, a 4% decrease.
Last week, GIS announced the authorization by the Federal Economic Competition Commission to sell Vitromex to US company Mohawk Industries.
GIS reported at the end of 2022 an operating flow -or EBITDA- of 145 million dollars, which represented a 22% increase. In the case of Draxton, the increase was 25%, that of Vitromex 16% and that of Cinsa 7%.
Jorge Rada, general director of the company, stressed that the cost increases raw materials and energy, were offset by “commercial efforts and productivity and efficiency.”
“During the year, the automotive industry gradually recovered from the disruptions in its supply chains, but still had opportunities to capitalize on by meeting pent-up demand,” he added.
Draxton managed to capture new business equivalent to 180 million dollars annually driven by vehicle production and “the first fruits of nearshoring”.
GIS was founded in 1928 and was listed on the Mexican Stock Exchange in 1976. The company currently has a presence in Mexico, Spain, the Czech Republic, Poland, Italy and China.