Hospitality tabletop leader Libbey Inc., one of the largest glass tableware manufacturers in the world, today reported results for the fourth quarter and full-year 2015. The Company also announced that it has revised its reportable operating segments as: U.S. and Canada (reflects combination of U.S. and Canada Glass business and previous U.S. Sourcing segment); Latin America; Europe, Middle East and Africa (EMEA); and Other.
Sales performance was led by a 7.5 percent increase in sales within the segment’s foodservice channel. Partially offsetting this increased performance was a decrease in the segment’s retail channel of 2.5 percent (or 2.2 percent decrease excluding currency impact).
Net sales in the Latin America segment decreased 12.1 percent (or down 1.3 percent excluding currency impact) to $167.1 million, compared to $190.1 million in 2014.
Net sales in the EMEA segment decreased 16.9 percent (or down 1.4 percent excluding currency impact) to $122.7 million, compared to $147.6 million in 2014.
Sales in Other were $34.9 million, compared to $32.7 million in the prior-year. This increase was the result of a 6.6 percent increase in sales (8.7 percent excluding currency impact) in the Asia Pacific region.
For more information on Libbey and its 2015 results, go here:
Libbey: U.S./Canada Foodservice Shines in Annual 2015 Results
