Net sales in the third quarter of 2013 were $1.78bn, up 2% over the prior year third quarter. Volume, in terms of tonnes shipped, increased 2% year-over-year. Europe volume increased 7% on growth in wine, food and beer.
Segment operating profit was $259m, up nearly 6% over prior year third quarter. O-I said it had achieved improved profitability from increased sales and production volumes, particularly in Europe, as well as reduced structural costs.
O-I chairman and chief executive Al Stroucken said: "Overall, our operations delivered strong results for the quarter, and we again benefited from our broad geographic footprint. Growth in sales volume in Europe, North America and Asia Pacific outweighed the decline in South America."
On the fourth quarter, Stroucken added: "We expect market demand in North America and Europe to be sluggish, but stable. As we have limited visibility into the uncertain macroeconomic conditions in South America, our plans anticipate no growth there in the fourth quarter. Irrespective of external challenges, we are focusing on the levers within our control: managing production volatility, reducing structural costs and optimising our assets. We are confident, therefore, that we will deliver higher full year earnings and free cash flow."
