Tecnoglass (TGLS) 10-Q 6 Aug 21 2021 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2021	Jul. 31, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2021
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2021
Current Fiscal Year End Date	--12-31
Entity File Number	001-35436
Entity Registrant Name	TECNOGLASS INC.
Entity Central Index Key	0001534675
Entity Tax Identification Number	98-1271120
Entity Incorporation, State or Country Code	E9
Entity Address, Address Line One	Avenida Circunvalar a 100 mts de la Via 40
Entity Address, Address Line Two	Barrio Las Flores
Entity Address, City or Town	Barranquilla
Entity Address, Country	CO
Entity Address, Postal Zip Code	00000
City Area Code	(57)(5)
Local Phone Number	3734000
Title of 12(b) Security	Ordinary Shares
Trading Symbol	TGLS
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		47,674,773

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 100,295	$ 66,899
Investments	2,078	2,387
Trade accounts receivable, net	91,233	88,368
Due from related parties	8,543	8,574
Inventories	74,717	80,742
Contract assets – current portion	24,068	26,288
Other current assets	16,946	13,545
Total current assets	317,880	286,803
Long-term assets:
Property, plant and equipment, net	149,566	152,266
Deferred income taxes	1,252	268
Contract assets – non-current	10,785	10,228
Due from related parties - long term		484
Long-term trade accounts receivable	4,361	2,985
Intangible assets	4,320	5,112
Goodwill	23,561	23,561
Long-term investments	49,414	47,535
Other long-term assets	4,537	2,783
Total long-term assets	247,796	245,222
Total assets	565,676	532,025
Current liabilities:
Short-term debt and current portion of long-term debt	13,376	1,764
Trade accounts payable and accrued expenses	56,303	42,178
Accrued interest expense	4	7,175
Due to related parties	4,502	4,750
Dividends payable	1,353	1,352
Contract liability – current portion	36,670	24,694
Other current liabilities	11,806	9,630
Total current liabilities	124,014	91,543
Long-term liabilities:
Deferred income taxes	278	3,170
Long-term liabilities from related parties	656	645
Contract liability – non-current	884	977
Long-term debt	218,949	222,722
Total long-term liabilities	220,767	227,514
Total liabilities	344,781	319,057
SHAREHOLDERS’ EQUITY
Preferred shares, $0.0001 par value, 1,000,000 shares authorized, 0 shares issued and outstanding at June 30, 2021 and December 31, 2020, respectively
Ordinary shares, $0.0001 par value, 100,000,000 shares authorized, 47,674,773 and 47,674,773 shares issued and outstanding at June 30, 2021 and December 31, 2020, respectively	5	5
Legal Reserves	2,273	2,273
Additional paid-in capital	219,290	219,290
Retained earnings	59,104	34,326
Accumulated other comprehensive (loss)	(60,490)	(43,512)
Shareholders’ equity attributable to controlling interest	220,182	212,382
Shareholders’ equity attributable to non-controlling interest	713	586
Total shareholders’ equity	220,895	212,968
Total liabilities and shareholders’ equity	$ 565,676	$ 532,025

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Preferred shares, par value	$ 0.0001	$ 0.0001
Preferred shares, shares authorized	1,000,000	1,000,000
Preferred shares, shares issued	0	0
Preferred stock, shares outstanding	0	0
Ordinary shares, par value	$ 0.0001	$ 0.0001
Ordinary shares, shares authorized	100,000,000	100,000,000
Ordinary shares, shares issued	47,674,773	47,674,773
Ordinary shares, shares outstanding	47,674,773	47,674,773

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Other Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Operating revenues:
Total operating revenues	$ 121,714	$ 81,942	$ 232,594	$ 169,240
Cost of sales	73,087	50,146	138,824	107,017
Gross profit	48,627	31,796	93,770	62,223
Operating expenses:
Selling expense	(12,030)	(8,961)	(23,111)	(18,629)
General and administrative expense	(8,200)	(7,610)	(16,869)	(15,220)
Total operating expenses	(20,230)	(16,571)	(39,980)	(33,849)
Operating income	28,397	15,225	53,790	28,374
Non-operating income (expenses), net	(240)	7	(81)	(94)
Equity method income (loss)	788	(166)	1,879	94
Foreign currency transactions gains (loss)	190	13,309	145	(19,157)
Gain (loss) on debt extinguishment	169		(10,978)
Interest expense and deferred cost of financing	(2,442)	(5,446)	(5,964)	(11,089)
Income (loss) before taxes	26,862	22,929	38,791	(1,872)
Income tax (provision)	(7,587)	(6,875)	(11,264)	(742)
Net income (loss)	19,275	16,054	27,527	(2,614)
(Loss) Income attributable to non-controlling interest	(41)	143	(127)	45
Income (Loss) attributable to parent	19,234	16,197	27,400	(2,569)
Comprehensive income:
Foreign currency translation adjustments	(1,184)	4,367	(16,819)	(14,921)
Change in fair value derivative contracts		2,618	(159)	(1,447)
Total comprehensive income	18,090	23,039	10,549	(18,982)
Comprehensive income attributable to non-controlling interest	(41)	143	(127)	45
Total comprehensive income (loss) attributable to parent	$ 18,049	$ 23,182	$ 10,422	$ (18,937)
Basic income (loss) per share	$ 0.40	$ 0.35	$ 0.58	$ (0.06)
Diluted income (loss) per share	$ 0.40	$ 0.35	$ 0.58	$ (0.06)
Basic weighted average common shares outstanding	47,674,773	46,117,631	47,674,773	46,117,631
Diluted weighted average common shares outstanding	47,674,773	46,117,631	47,674,773	46,117,631
External Customers [Member]
Operating revenues:
Total operating revenues	$ 120,136	$ 81,590	$ 230,395	$ 167,696
Related Parties [Member]
Operating revenues:
Total operating revenues	$ 1,578	$ 352	$ 2,199	$ 1,544

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ 27,527	$ (2,614)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Allowance for bad debts	748	691
Depreciation and amortization	10,507	10,206
Deferred income taxes	424	(6,478)
Equity method income	(1,879)	(94)
Deferred cost of financing	623	861
Other non-cash adjustments	(19)	42
Loss on debt extinguishment	2,333
Unrealized currency translation losses	2,555	23,585
Changes in operating assets and liabilities:
Trade accounts receivables	(6,743)	13,785
Inventories	(1,385)	(8,252)
Prepaid expenses	(2,024)	(1,017)
Other assets	(7,169)	1,363
Trade accounts payable and accrued expenses	24,556	(10,358)
Accrued interest expense	(7,171)	(84)
Taxes payable	3,396	(5,911)
Labor liabilities	(148)	(982)
Contract assets and liabilities	14,677	11,246
Related parties	(23)	(1,200)
CASH PROVIDED BY OPERATING ACTIVITIES	60,785	24,789
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from sale of investments	166	364
Purchase of investments	(49)	(167)
Acquisition of property and equipment	(18,323)	(7,395)
CASH USED IN INVESTING ACTIVITIES	(18,206)	(7,198)
CASH FLOWS FROM FINANCING ACTIVITIES
Cash dividend	(2,621)	(1,265)
Loss on debt extinguishment - call premium	(8,610)
Deferred financing transaction costs	(88)
Proceeds from debt	221,146	17,796
Repayments of debt	(216,676)	(14,698)
CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES	(6,849)	1,833
Effect of exchange rate changes on cash and cash equivalents	(2,334)	(3,862)
NET INCREASE IN CASH	33,396	15,562
CASH - Beginning of period	66,899	47,862
CASH - End of period	100,295	63,424
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Interest	12,286	9,513
Income Tax	9,471	7,014
NON-CASH INVESTING AND FINANCING ACTIVITES:
Assets acquired under credit or debt	$ 937	$ 907

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Legal Reserves [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total Shareholders Equity Attributable To Parent [Member]	Noncontrolling Interest [Member]	Total
Beginning balance, value at Dec. 31, 2019	$ 5	$ 208,283	$ 1,367	$ 16,213	$ (39,264)	$ 186,604	$ 606	$ 187,210
Beginning balance, shares at Dec. 31, 2019	46,117,631
Dividend		107		(1,344)		(1,237)		(1,237)
Derivative financial instruments					(4,065)	(4,065)		(4,065)
Foreign currency translation					(19,288)	(19,288)		(19,288)
Net income				(18,766)		(18,766)	98	(18,668)
Ending balance, value at Mar. 31, 2020	$ 5	208,390	1,367	(3,897)	(62,617)	143,248	704	143,952
Ending balance, shares at Mar. 31, 2020	46,117,631
Beginning balance, value at Dec. 31, 2019	$ 5	208,283	1,367	16,213	(39,264)	186,604	606	187,210
Beginning balance, shares at Dec. 31, 2019	46,117,631
Foreign currency translation								(14,921)
Net income								(2,614)
Ending balance, value at Jun. 30, 2020	$ 5	208,390	2,273	10,127	(55,632)	165,163	561	165,724
Ending balance, shares at Jun. 30, 2020	46,117,631
Beginning balance, value at Mar. 31, 2020	$ 5	208,390	1,367	(3,897)	(62,617)	143,248	704	143,952
Beginning balance, shares at Mar. 31, 2020	46,117,631
Dividend				(1,267)		(1,267)		(1,267)
Legal Reserve			906	(906)
Derivative financial instruments					2,618	2,618		2,618
Foreign currency translation					4,367	4,367		4,367
Net income				16,197		16,197	(143)	16,054
Ending balance, value at Jun. 30, 2020	$ 5	208,390	2,273	10,127	(55,632)	165,163	561	165,724
Ending balance, shares at Jun. 30, 2020	46,117,631
Beginning balance, value at Dec. 31, 2020	$ 5	219,290	2,273	34,326	(43,512)	212,382	586	212,968
Beginning balance, shares at Dec. 31, 2020	47,674,773
Dividend				(1,311)		(1,311)		(1,311)
Derivative financial instruments					(159)	(159)		(159)
Foreign currency translation					(15,635)	(15,635)		(15,635)
Net income				8,166		8,166	86	8,252
Ending balance, value at Mar. 31, 2021	$ 5	219,290	2,273	41,181	(59,306)	203,443	672	204,115
Ending balance, shares at Mar. 31, 2021	47,674,773
Beginning balance, value at Dec. 31, 2020	$ 5	219,290	2,273	34,326	(43,512)	212,382	586	212,968
Beginning balance, shares at Dec. 31, 2020	47,674,773
Foreign currency translation								(16,819)
Net income								27,527
Ending balance, value at Jun. 30, 2021	$ 5	219,290	2,273	59,104	(60,490)	220,182	713	220,895
Ending balance, shares at Jun. 30, 2021	47,674,773
Beginning balance, value at Mar. 31, 2021	$ 5	219,290	2,273	41,181	(59,306)	203,443	672	204,115
Beginning balance, shares at Mar. 31, 2021	47,674,773
Dividend				(1,311)		(1,311)		(1,311)
Derivative financial instruments
Foreign currency translation					(1,184)	(1,184)		(1,184)
Net income				19,234		19,234	41	19,275
Ending balance, value at Jun. 30, 2021	$ 5	$ 219,290	$ 2,273	$ 59,104	$ (60,490)	$ 220,182	$ 713	$ 220,895
Ending balance, shares at Jun. 30, 2021	47,674,773

General

General	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
General	Note 1. General Business Description Tecnoglass Inc., a Cayman Islands exempted company (the “Company”, “Tecnoglass,” “TGI,” “we, “us” or “our”), manufactures hi-specification, architectural glass and windows for the global residential and commercial construction industries. Currently the Company offers design, production, marketing, and installation of architectural systems for buildings of high, medium and low elevation size. Products include windows and doors in glass and aluminum, office partitions and interior divisions, floating facades and commercial window showcases. The Company exports most of its production to foreign countries, selling to customers in North, Central and South America. The Company manufactures both glass and aluminum products. Its glass products include tempered glass, laminated glass, thermo-acoustic glass, curved glass, silk-screened glass, acoustic glass and digital print glass. Its Alutions plant produces mill finished, anodized, painted aluminum profiles and rods, tubes, bars and plates. Alutions’ operations include extrusion, smelting, painting and anodizing processes, and exporting, importing and marketing aluminum products. The Company also designs, manufactures, markets and installs architectural systems for high, medium and low-rise construction, glass and aluminum windows and doors, office dividers and interiors, floating facades and commercial display windows.

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	Note 2. Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation and Use of Estimates The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and pursuant to the accounting and disclosure rules and regulations of the Securities and Exchange Commission (“SEC”) for interim reporting purposes. The results reported in these unaudited condensed consolidated financial statements are not necessarily indicative of results that may be expected for the entire year. These unaudited condensed consolidated financial statements should be read in conjunction with the information contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. The year-end condensed balance sheet data was derived from the audited financial statements in the Form 10-K but does not include all disclosures required by US GAAP. The preparation of these unaudited condensed consolidated financial statements requires the Company to make estimates and judgments that affect the reported amounts of assets and liabilities, revenues and expenses, and related disclosures of contingent assets and liabilities at the date of the Company’s financial statements. Actual results may differ from these estimates under different assumptions and conditions. Estimates utilized in the preparation of these unaudited condensed consolidated financial statements relate to the collectability of account receivables, the valuation of inventories, estimated earnings on uncompleted contracts, useful lives and potential impairment of long-lived assets. Changes in estimates are reflected in the periods during which they become known. Actual amounts may differ from these estimates and could differ materially. These financial statements reflect all adjustments that in the opinion of management are necessary for a fair statement of the financial position, results of operations and cash flows for the period presented, and are of a normal, recurring nature. The Company has one operating segment, Architectural Glass and Windows , which is also its reporting segment, comprising the design, manufacturing, distribution, marketing and installation of high-specification architectural glass and window product sold to the construction industry. Principles of Consolidation These unaudited condensed consolidated financial statements consolidate TGI, its subsidiaries Tecnoglass S.A.S (“TG”), C.I. Energía Solar S.A.S E.S. Windows (“ES”), ES Windows LLC (“ESW LLC”), Tecnoglass LLC (“Tecno LLC”), Tecno RE LLC (“Tecno RE”), GM&P Consulting and Glazing Contractors (“GM&P”), Componenti USA LLC (“Componenti”) and ES Metals SAS (“ES Metals”), which are entities in which we have a controlling financial interest because we hold a majority voting interest. To determine if we hold a controlling financial interest in an entity, we first evaluate if we are required to apply the variable interest entity (“VIE”) model to the entity, if it is determined it is not, the entity is evaluated under the voting interest model. All significant intercompany accounts and transactions are eliminated in consolidation, including unrealized intercompany profits and losses. The equity method of accounting is used for investments in affiliates and other joint ventures over which the Company has significant influence but does not have effective control. TGI and certain wholly owned subsidiaries with functional currency different than the U.S. dollar have long-term intercompany loan balances denominated in foreign currencies that are remeasured at the current exchange rate in effect at the balance sheet date. Such loan balances are not expected to be settled in the foreseeable future. Any gains and losses relating to these loans are included in the accumulated other comprehensive income (loss), which is reflected as a separate component of stockholders’ equity. Derivative Financial Instruments The Company recognizes all derivative financial instruments as either assets or liabilities at fair value on the condensed consolidated balance sheet. The unrealized gains or losses arising from changes in fair value of derivative instruments that are designated and qualify as cash flow hedges, are recorded in the condensed consolidated statement of comprehensive income. Amounts in accumulated other comprehensive loss on the condensed consolidated balance sheet are reclassified into the condensed consolidated statement of income in the same period or periods during which the hedged transactions are settled. Recently Issued Accounting Pronouncements In June 2016, Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (ASU) 2016-13, Financial Instruments—Credit Losses (Topic 326). This ASU represents a significant change in the allowance for credit losses accounting model by requiring immediate recognition of management’s estimates of current expected credit losses. Under the prior model, losses were recognized only as they were incurred, which FASB has noted delayed recognition of expected losses that might not yet have met the threshold of being probable. The new model is applicable to all financial instruments that are not accounted for at fair value through net income, thereby bringing consistency in accounting treatment across different types of financial instruments and requiring consideration of a broader range of variables when forming loss estimates. ASU 2016-13 is effective for fiscal years beginning after December 15, 2019, (with early application permitted). The FASB issued ASU 2019-10 and ASU 2019-11 during the fourth quarter of 2019 that postponed the effective date to the year beginning after December 15, 2022. In February 2020, the FASB issued ASU 2020-02 “Financial Instruments – Credit Losses (Topic 326) and Leases (Topic 842), which amends SEC Staff Accounting Bulletin No. 119 (SAB119) which contains interpretative guidance from the SEC aligned to the FASB’s ASC 326. The Company is currently evaluating the potential effect of these ASUs on its condensed consolidated financial statements. In March 2020, the FASB issued ASU 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting”. The amendments in this Update provide optional expedients and exceptions for contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments in this Update apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The expedients and exceptions provided by the amendments do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022, except for hedging relationships existing as of December 31, 2022, that an entity has elected certain optional expedients for and that are retained through the end of the hedging relationship. The amendments in this Update are effective for the Company through December 31, 2022 with early adoption permitted. The Company is currently evaluating the potential effect of this ASU on its condensed consolidated financial statements.

Inventories, net

Inventories, net	6 Months Ended
	Jun. 30, 2021
Inventory Disclosure [Abstract]
Inventories, net	Note 3. - Inventories, net Schedule of Inventories June 30,2021 December 31,2020 Raw materials $ 43,906 $ 47,282 Work in process 16,876 19,345 Finished goods 4,050 4,434 Spares and accessories 8,828 8,981 Packing material 1,161 783 Total Inventories, gross 74,821 80,825 Less: Inventory allowance (104 ) (83 ) Total inventories, net $ 74,717 $ 80,742

Revenues, Contract Assets and C

Revenues, Contract Assets and Contract Liabilities	6 Months Ended
	Jun. 30, 2021
Operating revenues:
Revenues, Contract Assets and Contract Liabilities	Note 4. – Revenues, Contract Assets and Contract Liabilities Disaggregation of Total Net Sales The Company disaggregates its sales with customers by revenue recognition method for its only segment, as the Company believes these factors affect the nature, amount, timing, and uncertainty of the Company’s revenue and cash flows. Schedule of Disaggregation of Revenue Three months ended Six months ended June 30, June 30, 2021 2020 2021 2020 Fixed price contracts $ 19,060 $ 21,533 $ 41,493 $ 46,560 Product sales 102,654 60,409 191,101 122,680 Total Revenues $ 121,714 $ 81,942 $ 232,594 $ 169,240 The following table presents geographical information about revenues. Schedule of Segment Reporting Information By Segment Three months ended June 30, Six months ended June 30, 2021 2020 2021 2020 Colombia $ 8,166 $ 1,820 $ 15,831 $ 8,292 United States 109,879 79,148 210,686 157,946 Panama 1,262 150 1,518 830 Other 2,407 824 4,559 2,172 Total Revenues $ 121,714 $ 81,942 $ 232,594 $ 169,240 Contract Assets and Liabilities Contract assets represent accumulated incurred costs and earned profits on contracts with customers that have been recorded as sales, but have not been billed to customers and are classified as current. In addition, a portion of the amounts billed on certain fixed price contracts that are withheld by the customer as a retainage until a final good receipt of the complete project to the customers satisfaction . Contract liabilities consist of advance payments and billings in excess of costs incurred and deferred revenue, and represent amounts received in excess of sales recognized on contracts. The Company classifies advance payments and billings in excess of costs incurred as current, and deferred revenue as current or non-current based on the expected timing of sales recognition. Contract assets and contract liabilities are determined on a contract by contract basis at the end of each reporting period. The non-current portion of contract liabilities is included in long-term liabilities in the Company’s condensed consolidated balance sheets. The table below presents the components of net contract assets (liabilities). Schedule Of Contract With Customer Asset And Liability June 30, 2021 December 31, 2020 Contract assets — current $ 24,068 $ 26,288 Contract assets — non-current 10,785 10,228 Contract liabilities — current (36,670 ) (24,694 ) Contract liabilities — non-current (884 ) (977 ) Net contract assets $ (2,701 ) $ 10,845 The components of contract assets are presented in the table below. Schedule of Contract With Customer Asset And Liability June 30, 2021 December 31, 2020 Unbilled contract receivables, gross $ 11,722 $ 13,534 Retainage 23,131 22,982 Total contract assets 34,853 36,516 Less: current portion 24,068 26,288 Contract Assets – non-current $ 10,785 $ 10,228 The components of contract liabilities are presented in the table below. Schedule of Contract With Customer Asset And Liability June 30, 2021 December 31, 2020 Billings in excess of costs $ 11,745 7,191 Advances from customers on uncompleted contracts 25,809 18,480 Total contract liabilities 37,554 25,671 Less: current portion 36,670 24,694 Contract liabilities – non-current $ 884 977 During the three and six months ended June 30, 2021, the Company recognized $ 3,764 1,468 370 1,649 Remaining Performance Obligations As of June 30, 2021, the Company had $ 267.3 100 101.0 166.3

Intangible Assets

Intangible Assets	6 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Note 5. Intangible Assets Intangible assets include Miami-Dade County Notices of Acceptances (NOA’s), which are certificates issued for approved products and required to market hurricane-resistant glass in Florida. Also, it includes the intangibles acquired during the acquisition of GM&P. Schedule of Finite Lived Intangible Assets June 30, 2021 Gross Acc. Amort. Net Trade Names $ 980 $ (849 ) $ 131 Notice of Acceptances (NOAs), product designs and other intellectual property 9,429 (5,755 ) 3,674 Non-compete Agreement 165 (143 ) 22 Customer Relationships 4,140 (3,647 ) 493 Total $ 14,714 $ (10,394 ) $ 4,320 December 31, 2020 Gross Acc. Amort. Net Trade Names $ 980 $ (751 ) $ 229 Notice of Acceptances (NOAs), product designs and other intellectual property 9,236 (5,255 ) 3,981 Non-compete Agreement 165 (126 ) 39 Customer Relationships 4,140 (3,277 ) 863 Total $ 14,521 $ (9,409 ) $ 5,112 The weighted average amortization period is 5.33 During the three and six months ended June 30, 2021, the amortization expense amounted to $ 547 1,099 549 1,099 The estimated aggregate amortization expense for each of the five succeeding years as of June 30, 2021 is as follows: Schedule of Finite Lived Intangible Assets Future Amortization Expense Year ending (in thousands) 2021 $ 1,106 2022 1,208 2023 894 2024 578 2025 265 Thereafter 269 Total $ 4,320

Debt

Debt	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Debt	Note 6. Debt The Company’s debt is comprised of the following: Schedule of Debt June 30, 2021 December 31, 2020 Revolving lines of credit $ 685 $ 377 Finance lease 222 350 Unsecured senior notes - 210,000 Other loans 344 31 Syndicated loan 236,757 22,835 Less: Deferred cost of financing (5,683 ) (9,107 ) Total obligations under borrowing arrangements 232,325 224,486 Less: Current portion of long-term debt and other current borrowings 13,376 1,764 Long-term debt $ 218,949 $ 222,722 On October 2020, the Company entered into a $ 300 250 50 0.75 2.50 3.50 4.37 23.1 220 210 8.2 matured in 2022 11.1 8.6 2.3 Subsequent to the end of the second quarter and based on Tecnoglass’ leverage ratio as of June 30, 2021, the interest rate spread on the Company’s $300 million Senior Secured Credit Facility continues to be at the lowest part of the grid, equivalent to a spread of 2.50% As of June 30, 2021 and December 31, 2020, all assets of the company are pledged as collateral for the $ 300 The Company was obligated under various finance leases under which the aggregate present value of the minimum lease payments amounted to $ 222 350 184 321 1.3 Maturities of long-term debt and other current borrowings are as follows as of June 30, 2021: Schedule of Maturities of Long Term Debt 2022 $ 13,375 2023 12,188 2024 16,715 2025 18,234 2026 177,496 Thereafter - Total $ 238,008 The Company’s loans have maturities ranging from a few weeks to 5 years 3.25

Hedging Activity and Fair Value

Hedging Activity and Fair Value Measurements	6 Months Ended
	Jun. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Hedging Activity and Fair Value Measurements	Note 7. Hedging Activity and Fair Value Measurements Hedging Activity During the quarter ended September 30, 2019, we entered into several foreign currency non-delivery forward and collar contracts to hedge the fluctuations in the exchange rate between the Colombian Peso and the U.S. Dollar. Our contracts are designated as cash flow hedges since they are highly effective in offsetting changes in the cash flows attributable to forecasted Colombian Peso denominated costs and expenses. Guidance under the Financial Instruments Topic 825 of the Codification requires us to record our hedge contracts at fair value and consider our credit risk for contracts in a liability position, and our counter-party’s credit risk for contracts in an asset position, in determining fair value. We assess our counter-party’s risk of non-performance when measuring the fair value of financial instruments in an asset position by evaluating their financial position, including cash on hand, as well as their credit ratings. As of June 30, 2021, the fair value of foreign currency collar contracts was not measured since we currently do not have any open contracts, with the last settlements taking place in January and February 2021. We assess the effectiveness of our foreign currency collar contracts by comparing the change in the fair value of the collar contracts to the change in the expected cash to be paid for the hedged item. The effective portion of the gain or loss on our foreign currency collar contracts is reported as a component of accumulated other comprehensive income and is reclassified into earnings in the same line item in the income statement as the hedged item in the same period or periods during which the transaction affects earnings. The amount of gains, net, recognized in the “accumulated other comprehensive income” line item in the consolidated balance sheet as of December 31, 2020, were reclassified to earnings during the first quarter of 2021 for $185. The fair value of our foreign currency hedges classified in the consolidated balance sheets as of December 31, 2020, are as follows: Schedule of Fair Value of Foreign Currency Hedges (Details) Derivative Assets Derivative Liabilities December 31, 2020 December 31, 2020 Derivatives designated as hedging instruments under Subtopic 815-20: Balance Sheet Location Fair Balance Sheet Location Fair Value Derivative instruments: Non-Delivery Collar Contracts Other current assets $ 230 Accrued liabilities $ ( - ) Total derivative instruments Total derivative assets $ 230 Total derivative liabilities $ ( - ) The ending accumulated balance for the foreign currency collar contracts included in accumulated other comprehensive income, net of tax, was $ 159 230 71 The following table presents the gains (losses) on derivative financial instruments, and their classifications within the accompanying condensed consolidated financial statements, for the three and six months ended June 2021: Schedule of Gains (Losses) on Derivative Financial Instruments (Details) Derivatives in Cash Flow Hedging Relationships Amount of Gain or (Loss) Location of Gain or (Loss) Reclassified from Accumulated Amount of Gain or (Loss) Reclassified from Recognized in OCI (Loss) OCI (Loss) into Accumulated on Derivatives Income OCI (Loss) into Income Three Months Ended Three Months Ended June 30, June 30, June 30, June 30, 2021 2020 2021 2020 Non-delivery Forwards and Collar Contracts $ - $ (1,379 ) Operating Revenues $ - $ 1,330 Derivatives in Cash Flow Hedging Relationships Amount of Gain or (Loss) Location of Gain or Reclassified from Accumulated Amount of Gain or (Loss) Reclassified from Recognized in OCI (Loss) on OCI (Loss) into Accumulated Derivatives Income OCI (Loss) into Income Six Months Ended Six Months Ended June 30, June 30, June 30, June 30, 2021 2020 2021 2020 Non-delivery Collar Contracts $ - $ (6,607 ) Operating Revenues $ 185 $ 2,007 Fair Value Measurements The Company accounts for financial assets and liabilities in accordance with accounting standards that define fair value and establish a framework for measuring fair value. The hierarchy prioritizes the inputs into three broad levels. Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 inputs are quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument. Level 3 inputs are unobservable inputs based on the Company’s assumptions used to measure assets and liabilities at fair value. A financial asset’s or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. The carrying amounts of the Company’s financial instruments, including cash and cash equivalents, accounts receivable, accounts payable and advances from customers approximate their fair value due to their relatively short-term maturities. The Company bases its fair value estimate for long term debt obligations on its internal valuation that all debt is floating rate debt based on current interest rates in Colombia. As of June 30, 2021, financial instruments carried at amortized cost that do not approximate fair value consist of long-term debt. See Note 6 - Debt. The fair value of long-term debt was calculated based on an analysis of future cash flows discounted at current market rates, which are level 2 inputs. The following table summarizes the fair value and carrying amounts of our long-term debt: Summary of Fair Value and Carrying Amounts of Long Term Debt (Details) June 30, 2021 December 31, 2020 Fair Value 221,400 238,753 Carrying Value 218,949 222,722

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Note 8. Income Taxes The Company files income tax returns for TG, ES and ES Metals in the Republic of Colombia. GM&P, Componenti and ESW LLC are U.S. entities based in Florida subject to U.S. federal and state income taxes. Tecnoglass Inc. as well as all the other subsidiaries in the Cayman Islands do not currently have any tax obligations. The components of income tax expense are as follows: Schedule of Components of Income Tax Expense (Benefit) 2021 2020 2021 2020 Three months ended Six months ended 2021 2020 2021 2020 Current income tax United States $ (888 ) $ (352 ) $ (1,666 ) $ (612 ) Colombia (6,979 ) (3,970 ) (9,174 ) (6,608 ) Total current income tax (7,867 ) (4,322 ) (10,840 ) (7,220 ) Deferred income Tax United States (488 ) 758 40 -415 Colombia 768 (3,311 ) -464 6,893 Total deferred income tax 280 (2,553 ) -424 6,478 Total income provision $ (7,587 ) $ (6,875 ) $ (11,264 ) $ (742 ) Effective tax rate 28.2 % 30.0 % 29.0 % -39.6 % The weighted average statutory income tax rate for the three months ended June 30, 2021 and 2020 was 28.2 29.0 40

Related Parties

Related Parties	6 Months Ended
	Jun. 30, 2021
Related Party Transactions [Abstract]
Related Parties	Note 9. Related Parties The following is a summary of assets, liabilities, and income and expense transactions with all related parties, shareholders, directors and managers: Schedule of Related parties 2021 2020 2021 2020 Three months ended Six months ended June 30, June 30, 2021 2020 2021 2020 Sales to related parties $ 1,578 $ 352 $ 2,199 $ 1,544 Fees paid to directors and officers $ 1,288 $ 957 $ 2,467 $ 2,179 Payments to other related parties $ 915 $ 903 $ 1,877 $ 1,717 June 30, 2021 December 31, 2020 Current Assets: Due from VS $ 6,737 $ 6,387 Due from other related parties 1,806 2,187 Due from related parties, current $ 8,543 $ 8,574 Long Term due from VS - 484 Liabilities: Due to related parties - current $ 4,502 $ 4,750 Due to related parties – Non-current $ 656 $ 645 Ventana Solar S.A. (“VS”), a Panama S ociedad anonima, 100 1,227 151 1,468 794 Payments to other related parties during the three months ended June 30, 2021 and 2020 include the following: Schedule of Payments to Other Related Parties Three months ended June 30, Six months ended June 30, 2021 2020 2021 2020 Charitable contributions $ 304 $ 213 $ 581 $ 562 Sales commissions $ 266 $ 288 $ 648 $ 547 Charitable contributions are donations made to the Company’s foundation, Fundación Tecnoglass-ESW.

Shareholders_ Equity

Shareholders’ Equity	6 Months Ended
	Jun. 30, 2021
Equity [Abstract]
Shareholders’ Equity	Note 10. Shareholders’ Equity Dividends On June 7, 2021, the Company declared a regular quarterly dividend of $ 0.0275 0.11 Earnings per Share The following table sets forth the computation of the basic and diluted earnings per share for the three and six months ended June 30, 2021 and 2020: Schedule of Earnings Per Share, Basic and Diluted 2021 2020 2021 2020 Three months ended Six months ended June 30, June 30, 2021 2020 2021 2020 Numerator for basic and diluted earnings per shares Net Income (loss) $ 19,275 $ 16,054 $ 27,527 $ (2,614 ) Denominator Denominator for basic earnings per ordinary share - weighted average shares outstanding 47,674,773 46,117,631 47,674,773 46,117,631 Effect of dilutive securities and stock dividend - - - - Denominator for diluted earnings per ordinary share - weighted average shares outstanding 47,674,773 46,117,631 47,674,773 46,117,631 Basic earnings (loss) per ordinary share $ 0.40 $ 0.35 $ 0.58 $ (0.06 ) Diluted earnings (loss) per ordinary share $ 0.40 $ 0.35 $ 0.58 $ (0.06 )

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 11. Commitments and Contingencies Commitments As of June 30, 2021, the Company had an outstanding obligation to purchase an aggregate of at least $ 4,503 On May 3, 2019, we consummated a joint venture agreement with Saint-Gobain , a world leader in the production of float glass, a key component of our manufacturing process, whereby we acquired a 25.8 45 34.1 10.9 1,557,142 7.00 33 The joint venture agreement includes plans to build a new plant in Galapa, Colombia that will be located approximately 20 miles from our primary manufacturing facility, in which we will also have a 25.8 12.5 General Legal Matters From time to time, the Company is involved in legal matters arising in the regular course of business. Some disputes are derived directly from our construction projects, related to supply and installation, and even though deemed ordinary, they may involve significant monetary damages. We are also subject to other type of litigations arising from employment practices, worker’s compensation, automobile claims and general liability. It is very difficult to predict precisely what the outcome of these litigations might be. However, with the information at our disposition as this time, there are no indications that such claims will result in a material adverse effect on the business, financial condition or results of operations of the Company.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2021
Subsequent Events [Abstract]
Subsequent Events	Note 12. Subsequent Events Management concluded that no additional subsequent events required disclosure other than those disclosed in these financial statements.

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation and Use of Estimates	Basis of Presentation and Use of Estimates The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and pursuant to the accounting and disclosure rules and regulations of the Securities and Exchange Commission (“SEC”) for interim reporting purposes. The results reported in these unaudited condensed consolidated financial statements are not necessarily indicative of results that may be expected for the entire year. These unaudited condensed consolidated financial statements should be read in conjunction with the information contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. The year-end condensed balance sheet data was derived from the audited financial statements in the Form 10-K but does not include all disclosures required by US GAAP. The preparation of these unaudited condensed consolidated financial statements requires the Company to make estimates and judgments that affect the reported amounts of assets and liabilities, revenues and expenses, and related disclosures of contingent assets and liabilities at the date of the Company’s financial statements. Actual results may differ from these estimates under different assumptions and conditions. Estimates utilized in the preparation of these unaudited condensed consolidated financial statements relate to the collectability of account receivables, the valuation of inventories, estimated earnings on uncompleted contracts, useful lives and potential impairment of long-lived assets. Changes in estimates are reflected in the periods during which they become known. Actual amounts may differ from these estimates and could differ materially. These financial statements reflect all adjustments that in the opinion of management are necessary for a fair statement of the financial position, results of operations and cash flows for the period presented, and are of a normal, recurring nature. The Company has one operating segment, Architectural Glass and Windows , which is also its reporting segment, comprising the design, manufacturing, distribution, marketing and installation of high-specification architectural glass and window product sold to the construction industry.
Principles of Consolidation	Principles of Consolidation These unaudited condensed consolidated financial statements consolidate TGI, its subsidiaries Tecnoglass S.A.S (“TG”), C.I. Energía Solar S.A.S E.S. Windows (“ES”), ES Windows LLC (“ESW LLC”), Tecnoglass LLC (“Tecno LLC”), Tecno RE LLC (“Tecno RE”), GM&P Consulting and Glazing Contractors (“GM&P”), Componenti USA LLC (“Componenti”) and ES Metals SAS (“ES Metals”), which are entities in which we have a controlling financial interest because we hold a majority voting interest. To determine if we hold a controlling financial interest in an entity, we first evaluate if we are required to apply the variable interest entity (“VIE”) model to the entity, if it is determined it is not, the entity is evaluated under the voting interest model. All significant intercompany accounts and transactions are eliminated in consolidation, including unrealized intercompany profits and losses. The equity method of accounting is used for investments in affiliates and other joint ventures over which the Company has significant influence but does not have effective control. TGI and certain wholly owned subsidiaries with functional currency different than the U.S. dollar have long-term intercompany loan balances denominated in foreign currencies that are remeasured at the current exchange rate in effect at the balance sheet date. Such loan balances are not expected to be settled in the foreseeable future. Any gains and losses relating to these loans are included in the accumulated other comprehensive income (loss), which is reflected as a separate component of stockholders’ equity.
Derivative Financial Instruments	Derivative Financial Instruments The Company recognizes all derivative financial instruments as either assets or liabilities at fair value on the condensed consolidated balance sheet. The unrealized gains or losses arising from changes in fair value of derivative instruments that are designated and qualify as cash flow hedges, are recorded in the condensed consolidated statement of comprehensive income. Amounts in accumulated other comprehensive loss on the condensed consolidated balance sheet are reclassified into the condensed consolidated statement of income in the same period or periods during which the hedged transactions are settled.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In June 2016, Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (ASU) 2016-13, Financial Instruments—Credit Losses (Topic 326). This ASU represents a significant change in the allowance for credit losses accounting model by requiring immediate recognition of management’s estimates of current expected credit losses. Under the prior model, losses were recognized only as they were incurred, which FASB has noted delayed recognition of expected losses that might not yet have met the threshold of being probable. The new model is applicable to all financial instruments that are not accounted for at fair value through net income, thereby bringing consistency in accounting treatment across different types of financial instruments and requiring consideration of a broader range of variables when forming loss estimates. ASU 2016-13 is effective for fiscal years beginning after December 15, 2019, (with early application permitted). The FASB issued ASU 2019-10 and ASU 2019-11 during the fourth quarter of 2019 that postponed the effective date to the year beginning after December 15, 2022. In February 2020, the FASB issued ASU 2020-02 “Financial Instruments – Credit Losses (Topic 326) and Leases (Topic 842), which amends SEC Staff Accounting Bulletin No. 119 (SAB119) which contains interpretative guidance from the SEC aligned to the FASB’s ASC 326. The Company is currently evaluating the potential effect of these ASUs on its condensed consolidated financial statements. In March 2020, the FASB issued ASU 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting”. The amendments in this Update provide optional expedients and exceptions for contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments in this Update apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The expedients and exceptions provided by the amendments do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022, except for hedging relationships existing as of December 31, 2022, that an entity has elected certain optional expedients for and that are retained through the end of the hedging relationship. The amendments in this Update are effective for the Company through December 31, 2022 with early adoption permitted. The Company is currently evaluating the potential effect of this ASU on its condensed consolidated financial statements.

Inventories, net (Tables)

Inventories, net (Tables)	6 Months Ended
	Jun. 30, 2021
Inventory Disclosure [Abstract]
Schedule of Inventories	Schedule of Inventories June 30,2021 December 31,2020 Raw materials $ 43,906 $ 47,282 Work in process 16,876 19,345 Finished goods 4,050 4,434 Spares and accessories 8,828 8,981 Packing material 1,161 783 Total Inventories, gross 74,821 80,825 Less: Inventory allowance (104 ) (83 ) Total inventories, net $ 74,717 $ 80,742

Revenues, Contract Assets and_2

Revenues, Contract Assets and Contract Liabilities (Tables)	6 Months Ended
	Jun. 30, 2021
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Schedule of Disaggregation of Revenue	Schedule of Disaggregation of Revenue Three months ended Six months ended June 30, June 30, 2021 2020 2021 2020 Fixed price contracts $ 19,060 $ 21,533 $ 41,493 $ 46,560 Product sales 102,654 60,409 191,101 122,680 Total Revenues $ 121,714 $ 81,942 $ 232,594 $ 169,240
Schedule of Segment Reporting Information By Segment	The following table presents geographical information about revenues. Schedule of Segment Reporting Information By Segment Three months ended June 30, Six months ended June 30, 2021 2020 2021 2020 Colombia $ 8,166 $ 1,820 $ 15,831 $ 8,292 United States 109,879 79,148 210,686 157,946 Panama 1,262 150 1,518 830 Other 2,407 824 4,559 2,172 Total Revenues $ 121,714 $ 81,942 $ 232,594 $ 169,240
Schedule of Contract With Customer Asset And Liability	The table below presents the components of net contract assets (liabilities). Schedule Of Contract With Customer Asset And Liability June 30, 2021 December 31, 2020 Contract assets — current $ 24,068 $ 26,288 Contract assets — non-current 10,785 10,228 Contract liabilities — current (36,670 ) (24,694 ) Contract liabilities — non-current (884 ) (977 ) Net contract assets $ (2,701 ) $ 10,845
Contract Liabilities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Schedule of Contract With Customer Asset And Liability	The components of contract liabilities are presented in the table below. Schedule of Contract With Customer Asset And Liability June 30, 2021 December 31, 2020 Billings in excess of costs $ 11,745 7,191 Advances from customers on uncompleted contracts 25,809 18,480 Total contract liabilities 37,554 25,671 Less: current portion 36,670 24,694 Contract liabilities – non-current $ 884 977
Contract Assets [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Schedule of Contract With Customer Asset And Liability	The components of contract assets are presented in the table below. Schedule of Contract With Customer Asset And Liability June 30, 2021 December 31, 2020 Unbilled contract receivables, gross $ 11,722 $ 13,534 Retainage 23,131 22,982 Total contract assets 34,853 36,516 Less: current portion 24,068 26,288 Contract Assets – non-current $ 10,785 $ 10,228

Intangible Assets (Tables)

Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite Lived Intangible Assets	Schedule of Finite Lived Intangible Assets June 30, 2021 Gross Acc. Amort. Net Trade Names $ 980 $ (849 ) $ 131 Notice of Acceptances (NOAs), product designs and other intellectual property 9,429 (5,755 ) 3,674 Non-compete Agreement 165 (143 ) 22 Customer Relationships 4,140 (3,647 ) 493 Total $ 14,714 $ (10,394 ) $ 4,320 December 31, 2020 Gross Acc. Amort. Net Trade Names $ 980 $ (751 ) $ 229 Notice of Acceptances (NOAs), product designs and other intellectual property 9,236 (5,255 ) 3,981 Non-compete Agreement 165 (126 ) 39 Customer Relationships 4,140 (3,277 ) 863 Total $ 14,521 $ (9,409 ) $ 5,112
Schedule of Finite Lived Intangible Assets Future Amortization Expense	The estimated aggregate amortization expense for each of the five succeeding years as of June 30, 2021 is as follows: Schedule of Finite Lived Intangible Assets Future Amortization Expense Year ending (in thousands) 2021 $ 1,106 2022 1,208 2023 894 2024 578 2025 265 Thereafter 269 Total $ 4,320

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Schedule of Debt	The Company’s debt is comprised of the following: Schedule of Debt June 30, 2021 December 31, 2020 Revolving lines of credit $ 685 $ 377 Finance lease 222 350 Unsecured senior notes - 210,000 Other loans 344 31 Syndicated loan 236,757 22,835 Less: Deferred cost of financing (5,683 ) (9,107 ) Total obligations under borrowing arrangements 232,325 224,486 Less: Current portion of long-term debt and other current borrowings 13,376 1,764 Long-term debt $ 218,949 $ 222,722
Schedule of Maturities of Long Term Debt	Maturities of long-term debt and other current borrowings are as follows as of June 30, 2021: Schedule of Maturities of Long Term Debt 2022 $ 13,375 2023 12,188 2024 16,715 2025 18,234 2026 177,496 Thereafter - Total $ 238,008

Hedging Activity and Fair Val_2

Hedging Activity and Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Fair Value of Foreign Currency Hedges	The fair value of our foreign currency hedges classified in the consolidated balance sheets as of December 31, 2020, are as follows: Schedule of Fair Value of Foreign Currency Hedges (Details) Derivative Assets Derivative Liabilities December 31, 2020 December 31, 2020 Derivatives designated as hedging instruments under Subtopic 815-20: Balance Sheet Location Fair Balance Sheet Location Fair Value Derivative instruments: Non-Delivery Collar Contracts Other current assets $ 230 Accrued liabilities $ ( - ) Total derivative instruments Total derivative assets $ 230 Total derivative liabilities $ ( - )
Schedule of Gains (Losses) on Derivative Financial Instruments	The following table presents the gains (losses) on derivative financial instruments, and their classifications within the accompanying condensed consolidated financial statements, for the three and six months ended June 2021: Schedule of Gains (Losses) on Derivative Financial Instruments (Details) Derivatives in Cash Flow Hedging Relationships Amount of Gain or (Loss) Location of Gain or (Loss) Reclassified from Accumulated Amount of Gain or (Loss) Reclassified from Recognized in OCI (Loss) OCI (Loss) into Accumulated on Derivatives Income OCI (Loss) into Income Three Months Ended Three Months Ended June 30, June 30, June 30, June 30, 2021 2020 2021 2020 Non-delivery Forwards and Collar Contracts $ - $ (1,379 ) Operating Revenues $ - $ 1,330 Derivatives in Cash Flow Hedging Relationships Amount of Gain or (Loss) Location of Gain or Reclassified from Accumulated Amount of Gain or (Loss) Reclassified from Recognized in OCI (Loss) on OCI (Loss) into Accumulated Derivatives Income OCI (Loss) into Income Six Months Ended Six Months Ended June 30, June 30, June 30, June 30, 2021 2020 2021 2020 Non-delivery Collar Contracts $ - $ (6,607 ) Operating Revenues $ 185 $ 2,007
Summary of Fair Value and Carrying Amounts of Long Term Debt	The following table summarizes the fair value and carrying amounts of our long-term debt: Summary of Fair Value and Carrying Amounts of Long Term Debt (Details) June 30, 2021 December 31, 2020 Fair Value 221,400 238,753 Carrying Value 218,949 222,722

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	The components of income tax expense are as follows: Schedule of Components of Income Tax Expense (Benefit) 2021 2020 2021 2020 Three months ended Six months ended 2021 2020 2021 2020 Current income tax United States $ (888 ) $ (352 ) $ (1,666 ) $ (612 ) Colombia (6,979 ) (3,970 ) (9,174 ) (6,608 ) Total current income tax (7,867 ) (4,322 ) (10,840 ) (7,220 ) Deferred income Tax United States (488 ) 758 40 -415 Colombia 768 (3,311 ) -464 6,893 Total deferred income tax 280 (2,553 ) -424 6,478 Total income provision $ (7,587 ) $ (6,875 ) $ (11,264 ) $ (742 ) Effective tax rate 28.2 % 30.0 % 29.0 % -39.6 %

Related Parties (Tables)

Related Parties (Tables)	6 Months Ended
	Jun. 30, 2021
Related Party Transactions [Abstract]
Schedule of Related parties	Schedule of Related parties 2021 2020 2021 2020 Three months ended Six months ended June 30, June 30, 2021 2020 2021 2020 Sales to related parties $ 1,578 $ 352 $ 2,199 $ 1,544 Fees paid to directors and officers $ 1,288 $ 957 $ 2,467 $ 2,179 Payments to other related parties $ 915 $ 903 $ 1,877 $ 1,717 June 30, 2021 December 31, 2020 Current Assets: Due from VS $ 6,737 $ 6,387 Due from other related parties 1,806 2,187 Due from related parties, current $ 8,543 $ 8,574 Long Term due from VS - 484 Liabilities: Due to related parties - current $ 4,502 $ 4,750 Due to related parties – Non-current $ 656 $ 645
Schedule of Payments to Other Related Parties	Payments to other related parties during the three months ended June 30, 2021 and 2020 include the following: Schedule of Payments to Other Related Parties Three months ended June 30, Six months ended June 30, 2021 2020 2021 2020 Charitable contributions $ 304 $ 213 $ 581 $ 562 Sales commissions $ 266 $ 288 $ 648 $ 547

Shareholders_ Equity (Tables)

Shareholders’ Equity (Tables)	6 Months Ended
	Jun. 30, 2021
Equity [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table sets forth the computation of the basic and diluted earnings per share for the three and six months ended June 30, 2021 and 2020: Schedule of Earnings Per Share, Basic and Diluted 2021 2020 2021 2020 Three months ended Six months ended June 30, June 30, 2021 2020 2021 2020 Numerator for basic and diluted earnings per shares Net Income (loss) $ 19,275 $ 16,054 $ 27,527 $ (2,614 ) Denominator Denominator for basic earnings per ordinary share - weighted average shares outstanding 47,674,773 46,117,631 47,674,773 46,117,631 Effect of dilutive securities and stock dividend - - - - Denominator for diluted earnings per ordinary share - weighted average shares outstanding 47,674,773 46,117,631 47,674,773 46,117,631 Basic earnings (loss) per ordinary share $ 0.40 $ 0.35 $ 0.58 $ (0.06 ) Diluted earnings (loss) per ordinary share $ 0.40 $ 0.35 $ 0.58 $ (0.06 )

Schedule of Inventories (Detail

Schedule of Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Raw materials	$ 43,906	$ 47,282
Work in process	16,876	19,345
Finished goods	4,050	4,434
Spares and accessories	8,828	8,981
Packing material	1,161	783
Total Inventories, gross	74,821	80,825
Less: Inventory allowance	(104)	(83)
Total inventories, net	$ 74,717	$ 80,742

Schedule of Disaggregation of R

Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Disaggregation of Revenue [Line Items]
Total Revenues	$ 121,714	$ 81,942	$ 232,594	$ 169,240
Fixed Price Contracts [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	19,060	21,533	41,493	46,560
Product Sales [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	$ 102,654	$ 60,409	$ 191,101	$ 122,680

Schedule of Segment Reporting I

Schedule of Segment Reporting Information By Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Disaggregation of Revenue [Line Items]
Total Revenues	$ 121,714	$ 81,942	$ 232,594	$ 169,240
COLOMBIA
Disaggregation of Revenue [Line Items]
Total Revenues	8,166	1,820	15,831	8,292
UNITED STATES
Disaggregation of Revenue [Line Items]
Total Revenues	109,879	79,148	210,686	157,946
PANAMA
Disaggregation of Revenue [Line Items]
Total Revenues	1,262	150	1,518	830
Other [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	$ 2,407	$ 824	$ 4,559	$ 2,172

Schedule Of Contract With Custo

Schedule Of Contract With Customer Asset And Liability (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Operating revenues:
Contract assets — current	$ 24,068	$ 26,288
Contract assets — non-current	10,785	10,228
Contract liabilities — current	(36,670)	(24,694)
Contract liabilities — non-current	(884)	(977)
Net contract assets	(2,701)	10,845
Unbilled contract receivables, gross	11,722	13,534
Retainage	23,131	22,982
Total contract assets	34,853	36,516
Less: current portion	24,068	26,288
Contract Assets – non-current	10,785	10,228
Billings in excess of costs	11,745	7,191
Advances from customers on uncompleted contracts	25,809	18,480
Total contract liabilities	37,554	25,671
Less: current portion	(36,670)	(24,694)
Contract liabilities – non-current	$ 884	$ 977

Revenues, Contract Assets and_3

Revenues, Contract Assets and Contract Liabilities (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Multiemployer Plan [Line Items]
Contract with customer, liability, revenue recognized	$ 3,764	$ 370	$ 1,468	$ 1,649
Revenue, Remaining Performance Obligation, Amount	$ 267,300		$ 267,300
Revenue, Remaining Performance Obligation, Percentage	100.00%		100.00%
December 31, 2021 [Member]
Multiemployer Plan [Line Items]
[custom:ExpectedPerformanceObligationsRevenueToBeRecognized-0]	$ 101,000		$ 101,000
December 31, 2022 [Member]
Multiemployer Plan [Line Items]
[custom:ExpectedPerformanceObligationsRevenueToBeRecognized-0]	$ 166,300		$ 166,300

Schedule of Finite Lived Intang

Schedule of Finite Lived Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Intangible assets, Gross	$ 14,714	$ 14,521
Accumulated Amortization	(10,394)	(9,409)
Total	4,320	5,112
Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, Gross	980	980
Accumulated Amortization	(849)	(751)
Total	131	229
Notice of Acceptances [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, Gross	9,429	9,236
Accumulated Amortization	(5,755)	(5,255)
Total	3,674	3,981
Non-compete Agreement [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, Gross	165	165
Accumulated Amortization	(143)	(126)
Total	22	39
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, Gross	4,140	4,140
Accumulated Amortization	(3,647)	(3,277)
Total	$ 493	$ 863

Schedule of Finite Lived Inta_2

Schedule of Finite Lived Intangible Assets Future Amortization Expense (Details) $ in Thousands	Jun. 30, 2021USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2021	$ 1,106
2022	1,208
2023	894
2024	578
2025	265
Thereafter	269
Total	$ 4,320

Intangible Assets (Details Narr

Intangible Assets (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Weighted average amortization period			5 years 3 months 29 days
Amortization expense	$ 547	$ 549	$ 1,099	$ 1,099

Schedule of Debt (Details)

Schedule of Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Debt Disclosure [Abstract]
Revolving lines of credit	$ 685	$ 377
Finance lease	222	350
Unsecured senior notes		210,000
Other loans	344	31
Syndicated loan	236,757	22,835
Less: Deferred cost of financing	(5,683)	(9,107)
Total obligations under borrowing arrangements	232,325	224,486
Less: Current portion of long-term debt and other current borrowings	13,376	1,764
Long-term debt	$ 218,949	$ 222,722

Schedule of Maturities of Long

Schedule of Maturities of Long Term Debt (Details) $ in Thousands	Jun. 30, 2021USD ($)
Debt Disclosure [Abstract]
2022	$ 13,375
2023	12,188
2024	16,715
2025	18,234
2026	177,496
Thereafter
Total	$ 238,008

Debt (Details Narrative)

Debt (Details Narrative) - USD ($) $ in Thousands	1 Months Ended			6 Months Ended
	Jan. 31, 2021	Dec. 31, 2020	Oct. 30, 2020	Jun. 30, 2021
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Effective Percentage			4.37%
Proceeds from Long-term Lines of Credit	$ 220,000	$ 23,100
Loan maturity period				The Company’s loans have maturities ranging from a few weeks to 5 years
[custom:NoncashExpenses]	$ 2,300
Line of Credit Facility, Description				Subsequent to the end of the second quarter and based on Tecnoglass’ leverage ratio as of June 30, 2021, the interest rate spread on the Company’s $300 million Senior Secured Credit Facility continues to be at the lowest part of the grid, equivalent to a spread of 2.50%
Collateral amount		300,000		$ 300,000
Present value of minimum lease payments		350		222
Right-of-use assets		$ 321		$ 184
Weighted average remaining lease term				1 year 3 months 18 days
Debt, weighted average interest rate				3.25%
UnSecured Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	8.20%
Debt Instrument, Face Amount	$ 210,000
Loan maturity period	matured in 2022
Debt extinguishment cost	$ 11,100
[custom:DebtExtinguishmentOfCallPremium]	$ 8,600
London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			0.75%
London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate			2.50%
London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate			3.50%
Draw Term Loan [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity			$ 250,000
Senior Secured Credit Facility [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity			300,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity			$ 50,000

Schedule of Fair Value of Forei

Schedule of Fair Value of Foreign Currency Hedges (Details) (Details) - Non-Delivery Collar Contracts [Member] $ in Thousands	Dec. 31, 2020USD ($)
Derivative Instruments, Gain (Loss) [Line Items]
Total derivative assets	$ 230
Total derivative liabilities	0
Other Current Assets [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Total derivative assets	230
Accrued Liabilities [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Total derivative liabilities	$ 0

Schedule of Gains (Losses) on D

Schedule of Gains (Losses) on Derivative Financial Instruments (Details) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Sales [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (Loss) Reclassified from Accumulated OCI (Loss) into Income		$ 1,330	$ 185	$ 2,007
Non-Delivery Collar Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in OCI (Loss) on Derivatives		$ (1,379)		$ (6,607)

Summary of Fair Value and Carry

Summary of Fair Value and Carrying Amounts of Long Term Debt (Details) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair Value	$ 221,400	$ 238,753
Carrying Value	$ 218,949	$ 222,722

Hedging Activity and Fair Val_3

Hedging Activity and Fair Value Measurements (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Jun. 30, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Accumulated other comprehensive income net of tax	$ (43,512)	$ (60,490)
Derivatives used in net investment hedge, tax (benefit)	71
Collar Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Accumulated other comprehensive income net of tax	159
Foreign currency fair value hedge asset at fair value	$ 230

Schedule of Components of Incom

Schedule of Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Tax Disclosure [Abstract]
United States	$ (888)	$ (352)	$ (1,666)	$ (612)
Colombia	(6,979)	(3,970)	(9,174)	(6,608)
Total current income tax	(7,867)	(4,322)	(10,840)	(7,220)
United States	(488)	758	40	(415)
Colombia	768	(3,311)	(464)	6,893
Total deferred income tax	280	(2,553)	(424)	6,478
Total income provision	$ (7,587)	$ (6,875)	$ (11,264)	$ (742)
Effective tax rate	28.20%	30.00%	29.00%	(39.60%)

Income Taxes (Details Narrative

Income Taxes (Details Narrative)	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Income Tax Disclosure [Abstract]
weighted average statutory income tax rate	28.20%	29.00%
Effective income tax rate reconciliation, statutory rate	40.00%

Schedule of Related parties (De

Schedule of Related parties (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Related Party Transactions [Abstract]
Sales to related parties	$ 1,578	$ 352	$ 2,199	$ 1,544
Fees paid to directors and officers	1,288	957	2,467	2,179
Payments to other related parties	915	$ 903	1,877	$ 1,717
Due from VS	6,737		6,737		$ 6,387
Due from other related parties	1,806		1,806		2,187
Due from related parties, current	8,543		8,543		8,574
Long Term due from VS					484
Due to related parties - current	4,502		4,502		4,750
Due to related parties – Non-current	$ 656		$ 656		$ 645

Schedule of Payments to Other R

Schedule of Payments to Other Related Parties (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Related Party Transaction [Line Items]
Payment to other related parties	$ 915	$ 903	$ 1,877	$ 1,717
Charitable Contributions [Member]
Related Party Transaction [Line Items]
Payment to other related parties	304	213	581	562
Sales Commissions [Member]
Related Party Transaction [Line Items]
Payment to other related parties	$ 266	$ 288	$ 648	$ 547

Related Parties (Details Narrat

Related Parties (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Related Party Transaction [Line Items]
Sales revenue from related party	$ 1,578	$ 352	$ 2,199	$ 1,544
Ventanas Solar SA [Member]
Related Party Transaction [Line Items]
Sales revenue from related party	$ 1,227	$ 151	$ 1,468	$ 794
CEO,COO and Other Related Parties [Member]
Related Party Transaction [Line Items]
Equity percentage	100.00%		100.00%

Schedule of Earnings Per Share,

Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Equity [Abstract]
Net Income (loss)	$ 19,275	$ 8,252	$ 16,054	$ (18,668)	$ 27,527	$ (2,614)
Denominator for basic earnings per ordinary share - weighted average shares outstanding	47,674,773		46,117,631		47,674,773	46,117,631
Effect of dilutive securities and stock dividend
Denominator for diluted earnings per ordinary share - weighted average shares outstanding	47,674,773		46,117,631		47,674,773	46,117,631
Basic earnings (loss) per ordinary share	$ 0.40		$ 0.35		$ 0.58	$ (0.06)
Diluted earnings (loss) per ordinary share	$ 0.40		$ 0.35		$ 0.58	$ (0.06)

Shareholders_ Equity (Details N

Shareholders’ Equity (Details Narrative)	Jun. 07, 2021$ / shares
Quarterly Rate [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividends Payable, Amount Per Share	$ 0.0275
Annual Basis [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividends Payable, Amount Per Share	$ 0.11

Commitments and Contingencies (

Commitments and Contingencies (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	Oct. 28, 2020	Oct. 27, 2020	May 03, 2019	Jun. 30, 2021	Dec. 31, 2020	Dec. 09, 2020
Business Acquisition [Line Items]
Purchase of aggregate raw material				$ 4,503
Issuance of ordinary per shares				$ 0.0001	$ 0.0001
Additional contribution paid				$ 12,500
Saint-Gobain Joint Venture Agreement [Member] | Common Stock [Member]
Business Acquisition [Line Items]
Issuance of ordinary shares	1,557,142
Issuance of ordinary per shares	$ 7
Premium percentage		33.00%
Saint-Gobain Joint Venture Agreement [Member] | Vidrio Andino Holdings S.A.S [Member]
Business Acquisition [Line Items]
Minority ownership interest			25.80%
Purchase price for acquiring minority interest			$ 45,000
Cash consideration paid for acquisition of minority interest			$ 34,100
Saint-Gobain Joint Venture Agreement [Member] | Vidrio Andino Holdings S.A.S [Member] | Land [Member]
Business Acquisition [Line Items]
Recorded current liabilities in relation to acquisition						$ 10,900
Joint Venture Agreement [Member]
Business Acquisition [Line Items]
Ownership percentage				25.80%