Tecnoglass Inc.
For the period ended Sep 30, 2025. Filed Nov 7, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 7, 2025
TGLS$43.94-2.6%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2025-06-30; filed 2025-08-07.
0001641172-25-022618
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2025-09-30; filed 2025-11-07.
0001493152-25-021288
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 61 previous paragraphs and 71 current paragraphs.
36 unchanged; 21 reworded; 14 added; 4 removed; 0 previous and 0 current paragraphs rearranged.
Tables are not compared: 2 previous and 2 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (14)
Current report
Gross profit increased $2.1 million, or 1.9%, from $109.2 million during the three months ended September 30, 2024, to $111.3 million, during the three months ended September 30, 2025. The gross profit margin during the three months ended September 30, 2025, was 42.7%, compared to 45.8% during the third quarter of 2024, primarily driven by higher raw material costs associated with increased premiums to source US aluminum, a stronger Colombian Peso and an unfavorable revenue mix, as commercial revenues with installation services rose year over year as we execute on our growing backlog of projects with installation. Finally, a 9.5% increase in minimum wages set at the beginning of 2025, coupled with the aforementioned strengthening of the Colombian Peso, also negatively impacted gross margins year over year. The aforementioned factors were partially offset by positive pricing adjustments implemented earlier in the year.
Current report
Loss on debt extinguishment
Current report
In September 2025, the Company entered into a new Senior Secured Credit Facility to replace its prior credit agreement dated November 2021. The new facility transitions the Company from a term-loan-plus-revolver structure to a fully committed revolving facility and (i) increases total committed borrowing capacity from $150 million to $500 million, (ii) reduces borrowing costs by approximately 25 basis points, and (iii) extends the initial maturity date by five years to December 2030. Borrowings under the new facility bear interest at the Secured Overnight Financing Rate (SOFR) with no floor, plus a spread of 1.25%, based on the Company’s net leverage ratio. The effective interest rate for this facility, including deferred issuance costs, is 5.67% as of September 30, 2025. In connection with the establishment of the new facility, the Company incurred total costs and fees of $2,783 which were capitalized as deferred financing costs.
Current report
The transaction was accounted for as a debt extinguishment in accordance with ASC 470-50. As a result, the Company recognized a loss on extinguishment of debt of $1,354, representing the write-off of the remaining unamortized deferred financing costs related to the prior credit facilities and termination costs associated with closing the previous facility.
Current report
Interest income (expense), net and deferred cost of financing
Current report
During the three months ended September 30, 2025, the Company recorded a gain of $2.7 million related to derivative financial instruments, compared to no gain or loss during the three months ended September 30, 2024. In connection with the replacement of our Senior Secured Credit Facility in September 2025, the Company discontinued hedge accounting for its existing interest rate swap contracts that had a highly effective relationship with the hedged transaction as of June 30,2025 under ASC 815 but due to changes in critical terms of the relationship with the new debt these instruments are not in accordance to the hedge accounting principles. These swap contracts remain outstanding and continue to be periodically settled in accordance with their original terms. Upon settlement and the extinguishment of the prior term loan, hedge accounting was discontinued, and the cumulative deferred gains or losses previously recorded in Accumulated other comprehensive income were reclassified into current-period earnings.
Current report
Following the discontinuation of hedge accounting for the interest rate swap contracts, changes in the fair value of these instruments, as well as ongoing periodic settlements on these instruments, are now recognized directly through earnings within Derivative financial instruments gain (loss). The Company continues to apply hedge accounting to its foreign currency forward contracts used to hedge forecasted transactions, that as of September 30, 2025 has a highly effective relationship with the hedged transaction under ASC 815. The gain recognized during the quarter primarily reflects favorable mark-to-market adjustments resulting from movements in benchmark interest rates and realized gains on hedge settlements. These fair-value changes and settlements are non-recurring in nature and do not impact the Company’s underlying operating performance or cash flow from operations.
Current report
Loss on debt extinguishment
Current report
In September 2025, the Company entered into a new Senior Secured Credit Facility to replace its prior credit agreement dated November 2021. The new facility transitions the Company from a term-loan-plus-revolver structure to a fully revolving facility and (i) increases total committed borrowing capacity from $150 million to $500 million, (ii) reduces borrowing costs by approximately 25 basis points, and (iii) extends the initial maturity date by five years to December 2030. Borrowings under the new facility bear interest at the Secured Overnight Financing Rate (SOFR) with no floor, plus a spread of 1.25%, based on the Company’s net leverage ratio. The effective interest rate for this facility, including deferred issuance costs, is 5.67% as of September 30, 2025. In connection with the establishment of the new facility, the Company incurred total costs and fees of $2,783 which were capitalized as deferred financing costs.
Current report
The transaction was accounted for as a debt extinguishment in accordance with ASC 470-50. As a result, the Company recognized a loss on extinguishment of debt of $1,354, representing the write-off of the remaining unamortized deferred financing costs related to the prior credit facilities and termination costs associated with closing the previous facility.
Current report
Interest expense and deferred cost of financing decreased by $1.1 million, or 18.2%, to $4.9 million for the nine months ended September 30, 2025, from $5.9 million in the prior-year period, primarily reflecting the $30 million voluntary prepayment made to reduce the Company’s debt balance and the benefit from hedge accounting on the Company’s interest rate swaps during the first half of the year. Following the discontinuation of hedge accounting upon the replacement of the prior credit facility with the new revolving facility in September 2025, the related gains on the swaps were no longer offset against interest expense, resulting in a higher reported amount during the third quarter compared to the first half of the year.
Current report
During the nine months ended September 30, 2025, the Company recorded a gain of $2.7 million related to derivative financial instruments, compared to no gain or loss during the nine months ended September 30, 2024. In connection with the replacement of our Senior Secured Credit Facility in September 2025, the Company discontinued hedge accounting for its existing interest rate swap contracts that had a highly effective relationship with the hedged transaction as of June 30,2025 under ASC 815 but due to changes in critical terms of the relationship with the new debt these instruments are not in accordance to the hedge accounting principles. These swap contracts remain outstanding and continue to be periodically settled in accordance with their original terms. Upon settlement and the extinguishment of the prior term loan, hedge accounting was discontinued, and the cumulative deferred gains or losses previously recorded in Accumulated other comprehensive income were reclassified into current-period earnings.
Current report
Following the discontinuation of hedge accounting for the interest rate swap contracts, changes in the fair value of these instruments, as well as ongoing periodic settlements on these instruments, are now recognized directly through earnings within Derivative financial instruments gain (loss). The Company continues to apply hedge accounting to its foreign currency forward contracts used to hedge forecasted transactions, that as of September 30, 2025 has a highly effective relationship with the hedged transaction under ASC 815. The gain recognized during the quarter primarily reflects favorable mark-to-market adjustments resulting from movements in benchmark interest rates and realized gains on hedge settlements. These fair-value changes and settlements are non-recurring in nature and do not impact the Company’s underlying operating performance or cash flow from operations.
Current report
Financing activities also reflected gross debt proceeds of $116.0 million and repayments of $114.1 million, primarily related to the replacement of the Company’s prior credit facility with a new $500 million revolving facility in September 2025. The transaction was accounted for as a debt extinguishment under ASC 470-50, resulting in the recognition of $2.8 million in deferred financing costs associated with the new facility, which extends the maturity to December 2030 and provides increased borrowing capacity and enhanced financial flexibility.
Removed paragraphs (4)
Previous report
Gross profit increased $24.8 million, or 27.6%, from $89.6 million during the three months ended June 30, 2024, to $114.3 million, during the three months ended June 30, 2025. The gross profit margin during the three months ended June 30, 2025, was 44.7%, up from 40.8% during the first quarter of 2024, primarily related to better pricing on certain residential market products, and improved operating leverage, and a favorable FX dynamic impacting our COP denominated costs, as the Colombian peso depreciated 7.0% against the U.S. dollar year over year.
Previous report
Interest expense and deferred cost of financing decreased $0.7 million, or 32.7%, to $1.4 million during the quarter ended June 30, 2025, as the Company voluntarily prepaid $62 million during 2024 to reduce its debt balance and benefited from having a favorable interest rate hedge in place for 100% of its outstanding syndicated debt after giving effect to the voluntary prepayments.
Previous report
Interest expense and deferred cost of financing decreased $1.4 million, or 34.8%, to $2.7 million during the six months ended June 30, 2025, from $4.1 million during the six months ended June 30, 2024, as the Company voluntarily prepaid $30 million to reduce its debt balance and benefited from having a favorable interest rate hedge in place for 100% of its outstanding debt.
Previous report
Financing activities used $14.9 million and $40.3 million during the three months ended June 30, 2025, and 2024, respectively. We paid $14.1 million and $9.4 million of dividends to holders of our ordinary shares during the three months ended June 30, 2025, and 2024, respectively. Additionally, during the six months ended June 30, 2024, we used $31.0 million to repay debt from our Senior Secured Line of Credit and other smaller facilities.
Reworded paragraphs (21)
Previous wording
Operating revenues increased $35.9 million, or 16.3%, from $219.7 during the quarter ended June 30, 2024, to $255.5 million, during the quarter ended June 30, 2025. Strong revenues during the second quarter of 2025 were driven by strong activity in the U.S market, where revenues increased $32.6 million, or 15.6% year over year, to $242.3 million during the quarter ended June 30, 2025. The increase was driven by higher residential revenues, up $13.8 million, or 14.5% year over year, resulting from strong demand momentum during the first half of 2025, and a modest pull-forward effect when we announced a mid-single digit price increase for quotes issued after May. U.S. commercial market revenues increased $18.8 million, or 16.5% year over year, as we continue to execute our growing backlog. Revenues from Latin America and the Caribbean increased $3.2 million, or 32.6% year over year.
Current wording
Operating revenues increased $22.2 million, or 9.3%, from $238.3 during the quarter ended September 30, 2024, to $260.5 million, during the quarter ended September 30, 2025. Strong revenues during the third quarter of 2025 were driven by strong activity in the U.S market, where revenues increased $18.3 million, or 8.0% year over year, to $246.4 million during the quarter ended September 30, 2025. The increase was driven by strong growth in the US commercial market, up 12.3% or $14.6 million year over year as we continue to execute on our growing project backlog. Additionally, higher residential revenues, up $3.8 million, or 3.4% year over year, resulting from strong demand momentum during the first half of 2025. Revenues from Latin America and the Caribbean increased $3.8 million, or 37.0% year over year.
Previous wording
Operating expenses increased $14.7 million, or 38.2%, from $38.4 million to $53.1 million for the quarters ended June 30, 2024 and 2025, respectively. The increase resulted primarily from recent Tariffs on imports into the U.S. which generated $8.2 million expense. Additionally, selling, general and administrative expenses grew to larger operation and ongoing geographical expansion over the US market, including inflation adjustment increases on personnel expense and fees, and higher shipping expense on higher sales.
Current wording
Operating expenses increased $5.8 million, or 13.9%, from $41.5 million to $47.3 million for the quarters ended September 30, 2024, and 2025, respectively. The increase resulted primarily from recent Tariffs on imports into the U.S. which generated $1.4 million expense during the quarter ended September 30, 2025, lower than the $8.2 million expense on tariffs during the three months ended June 30, 2025, mainly related to our American sourced aluminum initiative. Additionally, selling, general and administrative expenses increased nominally given higher transportation and commission expenses on incremental revenues.
Previous wording
During the three months ended June 30, 2025 and 2024, the Company recorded net non-operating income of $0.5 million and $2.7 million, respectively. Non-operating income is comprised of interest income from short term investments, as well as non-operating expenses related to certain charitable contributions outside of the Company’s direct sphere of influence. Equity method income from our joint venture with Saint Gobain decreased $0.3 million, or 23.8%, to $0.9 million during the quarter ended June 30, 2025, compared to $1.2 million recorded during the quarter ended June 30, 2024.
Current wording
During the three months ended September 30, 2025 and 2024, the Company recorded net non-operating income of $1.0 million and $1.4 million, respectively. Non-operating income is comprised of interest income from short term investments, as well as non-operating expenses related to certain charitable contributions outside of the Company’s direct sphere of influence. Equity method income from our joint venture with Saint Gobain decreased $0.9 million, or 62.8%, to $0.5 million during the quarter ended September 30, 2025, compared to $1.4 million recorded during the quarter ended September 30, 2024.
Previous wording
During the three months ended June 30, 2025, the Company recorded a non-operating loss of $0.8 million associated with foreign currency transactions compared to a net non-operating loss of $5.6 million during the three months ended June 30, 2024.
Current wording
During the three months ended September 30, 2025, the Company recorded a non-operating income of $1.9 million associated with foreign currency transactions compared to a net non-operating income of $0.9 million during the three months ended September 30, 2024.
Previous wording
Interest Expense and deferred cost of financing
Current wording
Interest expense and deferred cost of financing increased by $0.4 million, or 19.4%, to $2.2 million for the quarter ended September 30, 2025, primarily reflecting the discontinuation of hedge accounting for the Company’s interest rate swap contracts upon the extinguishment of the prior credit facility and issuance of the new revolving facility, as further described above. Following this discontinuation, the periodic settlements and fair value changes of these swaps are now recognized within Derivative financial instruments gain (loss) rather than offsetting interest expense, which had resulted in a lower reported amount in the prior period.
Previous wording
We recorded income tax expense of $18.1 million and $12.5 million during the three months ended June 30, 2025 and 2024, respectively. The effective income tax rate of 29.2% for the three months ended June 30, 2025 approximates the statutory tax rate.
Current wording
We recorded income tax expense of $20.8 million and $20.0 million during the three months ended September 30, 2025, and 2024, respectively. The effective income tax rate of 30.6% for the three months ended September 30, 2025, approximates the statutory tax rate.
Previous wording
As a result of the foregoing, the Company recorded net income for the three months ended June 30, 2025 of $44.1 million compared to net income of $35.0 million for the three months ended June 30, 2024.
Current wording
As a result of the foregoing, the Company recorded net income for the three months ended September 30, 2025, of $47.2 million compared to net income of $49.5 million for the three months ended September 30, 2024.
Previous wording
Comparison of six-month periods ended June 30, 2025 and 2024
Current wording
Comparison of nine-month periods ended September 30, 2025 and 2024
Previous wording
Operating revenues during the six months ended June 30, 2025 was $477.8 million, compared to $412.3 million during the six months ended June 30, 2024, an increase of $65.6 million or 15.9%, year over year. Strong revenues during the first half of 2025 were driven by strong activity in the U.S market, where revenues increased $61.1 million, or 15.5% year over year, to $454.8 million 2025. The increase was driven by higher residential revenues, up $29.6 million, or 17.5% year over year, resulting from strong demand momentum since late 2024, and a modest pull-forward effect when we announced a mid-single digit price increase for quotes issued after May. U.S. commercial market revenues increased $31.5 million, or 14.0% year over year, as we continue to execute our growing backlog. Revenues from Latin America and the Caribbean increased $4.5 million, or 24.0% year over year.
Current wording
Operating revenues during the nine months ended September 30, 2025, was $738.3 million, compared to $650.6 million during the nine months ended September 30, 2024, an increase of $87.7 million or 13.5%, year over year. Strong revenues during the first half of 2025 were driven by strong activity in the U.S market, where revenues increased $79.4 million, or 12.8% year over year, to $710.3 million 2025. The increase was driven by higher residential revenues, up $33.4 million, or 12.0% year over year, resulting from strong demand momentum since late 2024. U.S. commercial market revenues increased $46.0 million, or 13.4% year over year, as we continue to execute our growing backlog. Revenues from Latin America and the Caribbean increased $8.2 million, or 28.6% year over year.
Previous wording
Gross profit during the six months ended June 30, 2025, was $211.9 million, an increase of $47.6 million, or 29.0%, from $164.2 million during the six months ended June 30, 2024. The gross profit margin during the six months ended June 30, 2025, increased to 44.3% from 39.8% during the first half of 2024, primarily related to better pricing on certain residential market products, and improved operating leverage. Additionally, 7.0% depreciation of the Colombian Peso impacting our costs denominated in Colombian Pesos against our predominantly US Dollar revenue stream.
Current wording
Gross profit during the nine months ended September 30, 2025, was $323.2 million, an increase of $49.7 million, or 18.2%, from $273.5 million during the nine months ended September 30, 2024. The gross profit margin during the nine months ended September 30, 2025, increased to 43.8% from 42.0% during the first nine months of 2024, primarily related to better pricing on certain residential market products, and improved operating leverage. Furthermore, a 3.8% depreciation of the Colombian Peso impacting our costs denominated in Colombian Pesos against our predominantly US Dollar revenue stream helped to partially offset the 9.5% salary increases set at the beginning of the year.
Previous wording
Operating expenses increased $23.5 million, or 32.6%, from $72.1 million to $95.6 million for the six months ended June 30, 2024 and 2025, respectively. The increase was mainly driven by recent Tariffs on imports into the U.S. which generated $13.0 million expense, administrative salary adjustments.
Current wording
Operating expenses increased $29.3 million, or 25.8%, from $113.6 million to $142.9 million for the nine months ended September 30, 2024 and 2025, respectively. The increase was mainly driven by recent Tariffs on imports into the U.S. which generated $13.7 million expense, administrative salary adjustments. Additionally, the nominal increase was driven by administrative salary adjustments and higher transportation and commission expenses related to higher revenues.
Previous wording
During the six months ended June 30, 2025, the Company recorded other operating income of $4.3 million related to a gain on the sale of an aircraft, without any comparable income during the prior year period.
Current wording
During the nine months ended September 30, 2025, the Company recorded other operating income of $5.6 million mainly related to a gain on the sale of an aircraft and the recognition of a refund related to Employee Retention Credits (ERC) under government relief programs. There was no comparable income recorded during the prior-year period.
Previous wording
During the six months ended June 30, 2025 and 2024, the Company recorded non-operating income of $1.6 and $3.8 million, respectively. Non-operating income for the period is comprised primarily of interest income from short-term investments, income from rental properties and gains on sale of scrap materials as well as non-operating expenses related to certain charitable contributions outside of the Company’s direct sphere of influence.
Current wording
During the nine months ended September 30, 2025, and 2024, the Company recorded non-operating income of $2.6 and $5.2 million, respectively. Non-operating income for the period is comprised primarily of interest income from short-term investments, income from rental properties and gains on sale of scrap materials as well as non-operating expenses related to certain charitable contributions outside of the Company’s direct sphere of influence.
Previous wording
During the six months ended June 30, 2025, the Company recorded a non-operating net gain of $0.3 million associated with foreign currency transactions, compared to a net loss of $5.7 million during the six months ended June 30, 2024.
Current wording
During the nine months ended September 30, 2025, the Company recorded a non-operating net gain of $2.2 million associated with foreign currency transactions, compared to a net loss of $4.9 million during the nine months ended September 30, 2024.
Previous wording
The effective income tax rate for the six months ended June 30, 2025, of 29.3% approximates the statutory rate. The effective tax rate for the six months ended June 30, 2024, of 26.8%, is below the statutory rate, as the proportion of our taxable income shifts jurisdictions resulting from new developments of our product designs, trademarks and other intellectual property rights.
Current wording
The effective income tax rate for the nine months ended September 30, 2025, of 29.8% approximates the statutory rate. The effective tax rate for the nine months ended September 30, 2024, of 27.6%, is below the statutory rate, as the proportion of our taxable income shifts jurisdictions resulting from new developments of our product designs, trademarks and other intellectual property rights.
Previous wording
As a result of the foregoing, the Company recorded a net income for the six months ended June 30, 2025 of $86.3 million and $64.8 million for the six months ended June 30, 2024.
Current wording
As a result of the foregoing, the Company recorded a net income for the nine months ended September 30, 2025, of $133.5 million and $114.3 million for the nine months ended September 30, 2024.
Previous wording
As of June 30, 2025, and December 31, 2024, we had a cash and cash equivalents balance of approximately $137.9 million and $134.9 million, respectively. Additionally, we currently have approximately $175.0 million available under several lines of credit.
Current wording
As of September 30, 2025, and December 31, 2024, we had a cash and cash equivalents balance of approximately $124.0 million and $134.9 million, respectively. Additionally, we currently have approximately $425.0 million available under several lines of credit.
Previous wording
We transform glass and aluminum into high specification architectural glass and custom-made aluminum profiles which require significant investments in state-of-the-art technology. During the six months ended June 30, 2025, and 2024, we made investments primarily in building and construction and machinery and equipment in the amounts of $62.9 million and $30.2 million, respectively. This includes $15 million in real estate in south Florida that houses the operation of the newly acquired Continental Glass Systems, LLC. which will serve to grow our U.S. manufacturing and distribution footprint.
Current wording
We transform glass and aluminum into high specification architectural glass and custom-made aluminum profiles which require significant investments in state-of-the-art technology. During the nine months ended September 30, 2025, and 2024, we made investments primarily in building and construction and machinery and equipment in the amounts of $86.4 million and $59.5 million, respectively. This includes $15 million in real estate in south Florida that houses the operation of the newly acquired Continental Glass Systems, LLC. which will serve to grow our U.S. manufacturing and distribution footprint.
Previous wording
Additionally, we acquired $7.7 million and $4.6 million of property plant and equipment under credit during the three months ended June 30, 2025, and 2024, respectively. These investments across our vertically-integrated operations include further automating our glass and window assembly production lines, adding glass production lines, expanding our aluminum facilities, putting new vinyl windows lines to penetrate this new product segment and purchasing land to grow beyond current installed capacity.
Current wording
Additionally, we acquired $4.7 million and $5.6 million of property plant and equipment under credit during the nine months ended September 30, 2025, and 2024, respectively. These investments across our vertically-integrated operations include further automating our glass and window assembly production lines, adding glass production lines, expanding our aluminum facilities, putting new vinyl windows lines to penetrate this new product segment and purchasing land to grow beyond current installed capacity.
Previous wording
During the six months ended June 30, 2025, and 2024, operating activities generated approximately $64.8 million and $67.9 million, respectively. The main source of operating cash during the six months ended June 30, 2025, were driven by contract assets and liabilities, and trade accounts payable and accrued expenses. Contract assets and liabilities generated $21.4 million during the six months ended June 30, 2025, mostly due to an increase in billings in excess of costs, as large commercial jobs are being executed, and large projects from our backlog are starting operations; compared to $3.2 million used during the six months ended June 30, 2024. In addition, trade accounts payable and accrued expenses generated $21.8 million during the six months ended June 30, 2025, related to higher unpaid balance of higher than usual raw material purchases as we procure a stock of U.S. sourced aluminum as part of our tariff mitigation strategy, compared with $12.7 million during the six months ended June 30, 2024. Converseley, the largest use of cash in operating activities was the purchase of inventories, which used $24.0 million during the first half of 2025, in contrast to $14.4 million generated during the prior year period which had a faster raw material and finished goods turnover.
Current wording
During the nine months ended September 30, 2025, and 2024, operating activities generated approximately $104.7 million and $109.4 million, respectively. The main source of operating cash during the nine months ended September 30, 2025, were driven by contract assets and liabilities, and trade accounts payable and accrued expenses. Contract assets and liabilities generated $26.8 million during the nine months ended September 30, 2025, mostly due to an increase in billings in excess of costs, as large commercial jobs are being executed, and large projects from our backlog are starting operations; compared to $15.9 million generated during the nine months ended September 30, 2024. In addition, trade accounts payable and accrued expenses generated $15.2 million during the nine months ended September 30, 2025, related to higher unpaid balance of higher than usual raw material purchases as we procure a stock of U.S. sourced aluminum as part of our tariff mitigation strategy, compared with $10.1 million during the nine months ended September 30, 2024. Conversely, the largest use of cash in operating activities was the purchase of inventories, which used $33.9 million during the nine months ended September 30, 2025, in contrast to $2.7 million generated during the prior year period which had a faster raw material and finished goods turnover.
Previous wording
We used $48.6 million and $27.8 million in investing activities during the six months ended June 30, 2025, and 2024, respectively. During the six months ended June 30, 2025, we paid $62.9 million to acquire property plant and equipment. This included scheduled payments on previous investments to increase capacity and efficiency as well as $15.0 million of real estate in south Florida. Additionally, we spent $6.8 million to acquire certain assets and assume certain liabilities of Continental Glass Systems, LLC,a leading provider of architectural glass and glazing solutions in the Southeast U.S., that included manufacturing equipment, intangibles, and a strong project backlog, enhancing our U.S. presence, customer reach, and supply chain efficiency. The price of this purchase was $10.4 million, of which $3.6 million remain to be paid in the short term. During the six months ended June 30, 2024, we used $30.2 million for the acquisition of property and equipment
Current wording
We used $68.0 million and $51.5 million in investing activities during the nine months ended September 30, 2025, and 2024, respectively. During the nine months ended September 30, 2025, we paid $81.7 million to acquire property plant and equipment. This included scheduled payments on previous investments to increase capacity and efficiency as well as $15.0 million of real estate in south Florida. Additionally, we spent $6.8 million to acquire certain assets and assume certain liabilities of Continental Glass Systems, LLC, a leading provider of architectural glass and glazing solutions in the Southeast U.S., that included manufacturing equipment, intangibles, and a strong project backlog, enhancing our U.S. presence, customer reach, and supply chain efficiency. The price of this purchase was $10.4 million, of which $3.6 million remains to be paid in the short term. During the nine months ended September 30, 2024, we used $53.9 million for the acquisition of property and equipment.