Tecnoglass (TGLS) 10-Q 5 Aug 22 2022 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2022	Jul. 31, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2022
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2022
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	0000
City Area Code	(+57) (605)
Local Phone Number	373 4000
Title of 12(b) Security	Ordinary Shares
Trading Symbol	TGLS
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
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, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 98,620	$ 85,011
Investments	2,407	1,977
Trade accounts receivable, net	114,218	110,539
Due from related parties	1,669	2,252
Inventories	111,914	84,975
Contract assets – current portion	16,310	18,667
Other current assets	23,554	22,854
Total current assets	368,692	326,275
Long-term assets:
Property, plant and equipment, net	183,594	166,629
Deferred income taxes	2,526	596
Contract assets – non-current	10,588	11,853
Long-term trade accounts receivable	4,279	3,995
Intangible assets	3,029	3,337
Goodwill	23,561	23,561
Long-term investments	55,059	51,160
Other long-term assets	4,282	4,157
Total long-term assets	286,918	265,288
Total assets	655,610	591,563
Current liabilities:
Short-term debt and current portion of long-term debt	591	10,700
Trade accounts payable and accrued expenses	89,406	68,087
Due to related parties	4,186	3,857
Dividends payable	3,143	3,141
Contract liability – current portion	58,974	45,213
Other current liabilities	24,379	24,017
Total current liabilities	180,679	155,015
Long-term liabilities:
Deferred income taxes	3,403	3,417
Contract liability – non-current	47	78
Long-term debt	184,268	188,355
Total long-term liabilities	187,718	191,850
Total liabilities	368,397	346,865
SHAREHOLDERS’ EQUITY
Preferred shares, $0.0001 par value, 1,000,000 shares authorized, 0 shares issued and outstanding at June 30, 2022 and December 31, 2021, 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, 2022 and December 31, 2021, respectively	5	5
Legal Reserves	1,458	2,273
Additional paid-in capital	219,290	219,290
Retained earnings	139,709	91,045
Accumulated other comprehensive loss	(74,404)	(68,751)
Shareholders’ equity attributable to controlling interest	286,058	243,862
Shareholders’ equity attributable to non-controlling interest	1,155	836
Total shareholders’ equity	287,213	244,698
Total liabilities and shareholders’ equity	$ 655,610	$ 591,563

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
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, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Operating revenues:
Total operating revenues	$ 169,124	$ 121,752	$ 303,672	$ 233,307
Cost of sales	95,492	72,622	169,707	138,868
Gross profit	73,632	49,130	133,965	94,439
Operating expenses:
Selling expense	(16,616)	(12,030)	(29,984)	(23,113)
General and administrative expense	(10,851)	(8,332)	(21,126)	(17,125)
Other professional fees	(678)		(3,402)
Total operating expenses	(28,145)	(20,362)	(54,512)	(40,238)
Operating income	45,487	28,768	79,453	54,201
Non-operating income (expenses), net	161	(228)	503	(70)
Equity method income	1,669	788	3,249	1,879
Foreign currency transactions gains (loss)	2,503	190	(406)	145
Gain (loss) on debt extinguishment		169		(10,978)
Interest expense and deferred cost of financing	(1,715)	(2,442)	(3,183)	(5,964)
Income before taxes	48,105	27,245	79,616	39,213
Income tax (provision)	(14,692)	(7,601)	(25,250)	(11,289)
Net income	33,413	19,644	54,366	27,924
(Loss) Income attributable to non-controlling interest	(219)	(51)	(319)	(140)
Income attributable to parent	33,194	19,593	54,047	27,784
Comprehensive income:
Foreign currency translation adjustments	(23,620)	(1,185)	(9,987)	(16,819)
Change in fair value of derivative contracts	1,710		4,332	(159)
Total comprehensive income	11,503	18,459	48,711	10,946
Comprehensive (loss) income attributable to non-controlling interest	(219)	(51)	(319)	(140)
Total comprehensive income attributable to parent	$ 11,284	$ 18,408	$ 48,392	$ 10,806
Basic income per share	$ 0.70	$ 0.41	$ 1.14	$ 0.59
Diluted income per share	$ 0.70	$ 0.41	$ 1.14	$ 0.59
Basic weighted average common shares outstanding	47,674,773	47,674,773	47,674,773	47,674,773
Diluted weighted average common shares outstanding	47,674,773	47,674,773	47,674,773	47,674,773
External Customers [Member]
Operating revenues:
Total operating revenues	$ 168,657	$ 121,401	$ 302,679	$ 232,576
Related Parties [Member]
Operating revenues:
Total operating revenues	$ 467	$ 351	$ 993	$ 731

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 54,366	$ 27,924
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Allowance for credit losses	580	748
Depreciation and amortization	10,462	10,515
Deferred income taxes	(1,016)	424
Equity method income	(3,249)	(1,879)
Deferred cost of financing	726	623
Other non-cash adjustments	6	(19)
Loss on debt extinguishment		2,333
Unrealized currency translation losses	911	2,555
Changes in operating assets and liabilities:
Trade accounts receivable	(4,792)	(6,069)
Inventories	(31,343)	(2,082)
Prepaid expenses	(690)	(2,015)
Other assets	1,652	(6,718)
Trade accounts payable and accrued expenses	16,489	23,375
Accrued interest expense	(1)	(7,171)
Taxes payable	2,260	3,389
Labor liabilities	125	(132)
Other liabilities	(2,047)	(342)
Contract assets and liabilities	17,538	14,677
Related parties	1,020	(23)
CASH PROVIDED BY OPERATING ACTIVITIES	62,997	60,113
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from sale of investments		166
Proceeds from sale of property and equipment		7
Purchase of investments	(933)	(49)
Acquisition of property and equipment	(26,250)	(18,325)
CASH USED IN INVESTING ACTIVITIES	(27,183)	(18,201)
CASH FLOWS FROM FINANCING ACTIVITIES
Cash dividend	(6,196)	(2,621)
Loss on debt extinguishment - call premium		(8,610)
Deferred financing transaction costs		(88)
Proceeds from debt	241	221,146
Repayments of debt	(15,367)	(216,676)
CASH USED IN FINANCING ACTIVITIES	(21,322)	(6,849)
Effect of exchange rate changes on cash and cash equivalents	(883)	(2,334)
NET INCREASE IN CASH	13,609	32,729
CASH - Beginning of period	85,011	67,668
CASH - End of period	98,620	100,397
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Interest	2,387	12,286
Income Tax	7,552	9,471
NON-CASH INVESTING AND FINANCING ACTIVITES:
Assets acquired under credit or debt	$ 5,835	$ 937

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, 2020	$ 5	$ 219,290	$ 2,273	$ 29,927	$ (43,512)	$ 207,983	$ 560	$ 208,543
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					(15,634)	(15,634)		(15,634)
Net income				8,192		8,192	89	8,281
Ending balance, value at Mar. 31, 2021	$ 5	219,290	2,273	36,808	(59,305)	199,071	649	199,720
Ending balance, shares at Mar. 31, 2021	47,674,773
Beginning balance, value at Dec. 31, 2020	$ 5	219,290	2,273	29,927	(43,512)	207,983	560	208,543
Beginning balance, shares at Dec. 31, 2020	47,674,773
Net income								27,924
Ending balance, value at Jun. 30, 2021	$ 5	219,290	2,273	55,089	(60,490)	216,167	700	216,867
Ending balance, shares at Jun. 30, 2021	47,674,773
Beginning balance, value at Mar. 31, 2021	$ 5	219,290	2,273	36,808	(59,305)	199,071	649	199,720
Beginning balance, shares at Mar. 31, 2021	47,674,773
Dividend
Derivative financial instruments
Foreign currency translation					(1,185)	(1,185)		(1,185)
Net income				19,593		19,593	51	19,644
Legal Reserves				(1,312)		(1,312)		(1,312)
Ending balance, value at Jun. 30, 2021	$ 5	219,290	2,273	55,089	(60,490)	216,167	700	216,867
Ending balance, shares at Jun. 30, 2021	47,674,773
Beginning balance, value at Dec. 31, 2021	$ 5	219,290	2,273	91,045	(68,751)	243,862	836	244,698
Beginning balance, shares at Dec. 31, 2021	47,674,773
Dividend				(3,099)		(3,099)		(3,099)
Derivative financial instruments					2,622	2,622		2,622
Foreign currency translation					13,635	13,635		13,635
Net income				20,853		20,853	100	20,953
Ending balance, value at Mar. 31, 2022	$ 5	219,290	2,273	108,799	(52,494)	277,873	936	278,809
Ending balance, shares at Mar. 31, 2022	47,674,773
Beginning balance, value at Dec. 31, 2021	$ 5	219,290	2,273	91,045	(68,751)	243,862	836	244,698
Beginning balance, shares at Dec. 31, 2021	47,674,773
Net income								54,366
Ending balance, value at Jun. 30, 2022	$ 5	219,290	1,458	139,709	(74,404)	286,058	1,155	287,213
Ending balance, shares at Jun. 30, 2022	47,674,773
Beginning balance, value at Mar. 31, 2022	$ 5	219,290	2,273	108,799	(52,494)	277,873	936	278,809
Beginning balance, shares at Mar. 31, 2022	47,674,773
Dividend				(3,099)		(3,099)		(3,099)
Derivative financial instruments					1,710	1,710		1,710
Foreign currency translation					(23,620)	(23,620)		(23,620)
Net income				33,194		33,194	219	33,413
Legal Reserves			(815)	815
Ending balance, value at Jun. 30, 2022	$ 5	$ 219,290	$ 1,458	$ 139,709	$ (74,404)	$ 286,058	$ 1,155	$ 287,213
Ending balance, shares at Jun. 30, 2022	47,674,773

General

General	6 Months Ended
	Jun. 30, 2022
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, 2022
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, 2021. 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, ES Metals SAS (“ES Metals”), and Ventanas Solar S.A (“VS”), 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, otherwise 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. Recast of Prior Year Period Financial Statements On November 8, 2021, we announced that we entered into a purchase agreement with Ventanas Solar S.A. (“VS”), a Panama domiciled company that acts as an importer and distributor of the Company’s products in the Republic of Panama. VS was affiliated with family members of Jose M. Daes, the Company’s Chief Executive Officer, and Christian T. Daes, the Company’s Chief Operating Officer. Pursuant to the Agreement, the Company through ES acquired 95 4.0 5% The acquisition of VS was deemed to be a transaction between entities under common control. As a result, the assets and liabilities were transferred at the historical cost of VS, with prior periods retroactively adjusted to include the historical financial results of the acquired company for the period they were controlled by the previous owners of VS in the Company’s financial statements. The following table includes the financial information as originally reported and the net effect of the VS acquisition after elimination of intercompany transactions: Schedule of Consolidated Financial Statements Three months ended June 30, 2021 Six months ended June 30, 2021 Prior to Effect of After Prior to Effect of After acquisition acquisition acquisition acquisition acquisition Acquisition Total Sales 121,714 38 121,752 232,594 713 233,307 Operating Income 28,397 371 28,768 53,790 411 54,201 Income attributable to parent 19,234 552 19,786 27,400 384 27,784 Basic income per share 0.42 0.00 0.42 0.59 0.01 0.60 Diluted income per share 0.42 0.00 0.42 0.59 0.01 0.60 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. Adoption of New Accounting Standards 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 for smaller reporting companies. 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. We adopted this standard using the modified retrospective approach at the beginning of fiscal year 2022 as we no longer qualified as a smaller reporting company. The adoption of this ASU did not have a significant impact on the Company’s earnings or financial condition. Refer to additional disclosures in Note 4. Recently Issued Accounting Pronouncements 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’s outstanding debt,. which bears interest based on LIBOR. contains provisions for transitioning into a benchmark reference rate prior to the discontinuation of LIBOR in 2023. Our interest rate swap derivative contract will be adjusted accordingly. We reviewed all other recently issued accounting pronouncements and concluded that they were either not applicable or not expected to have a significant impact to the condensed consolidated financial statements.

Inventories, net

Inventories, net	6 Months Ended
	Jun. 30, 2022
Inventory Disclosure [Abstract]
Inventories, net	Note 3. - Inventories, net Schedule of Inventories June 30, 2022 December 31, 2021 Raw materials $ 73,386 $ 54,443 Work in process 16,690 11,126 Finished goods 8,983 8,789 Spares and accessories 11,470 9,869 Packing material 1,500 870 Total Inventories, gross 112,029 85,097 Less: Inventory allowance (115 ) (122 ) Total inventories, net $ 111,914 $ 84,975

Revenues, Trade Accounts Receiv

Revenues, Trade Accounts Receivable, Contract Assets and Contract Liabilities	6 Months Ended
	Jun. 30, 2022
Operating revenues:
Revenues, Trade Accounts Receivable, Contract Assets and Contract Liabilities	Note 4. – Revenues, Trade Accounts Receivable, 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 by Revenue Three months ended Six months ended June 30, June 30, 2022 2021 2022 2021 Fixed price contracts $ 22,525 $ 21,242 $ 41,376 $ 43,675 Product sales 146,599 100,510 262,296 189,632 Total Revenues $ 169,124 $ 121,752 $ 303,672 $ 233,307 The following table presents geographical information about revenues. Schedule of Segment and Geographic Information Three months ended June 30, Six months ended June 30, 2022 2021 2022 2021 Colombia $ 4,816 $ 8,166 $ 8,841 $ 15,831 United States 161,478 109,879 288,461 210,686 Panama 1,003 1,300 1,803 2,231 Other 1,827 2,408 4,567 4,559 Total Revenues $ 169,124 $ 121,752 $ 303,672 $ 233,307 Trade Accounts Receivable In the ordinary course of business, we extend credit to customers on a generally non-collateralized basis. The Company maintains an allowance for expected credit losses which is based on management’s assessments of the amount which may become uncollectible in the future and is determined through consideration of our write-off history, specific identification of uncollectible accounts based in part on the customer’s past due balance (based on contractual terms), and consideration of prevailing economic and industry conditions. Uncollectible accounts are written off after repeated attempts to collect from the customer have been unsuccessful. Trade accounts receivable consist of the following: Schedule of Trade Accounts Receivable June 30, 2022 December 31, 2021 Trade accounts receivable 114,923 110,727 Less: Allowance for credit losses (705 ) (188 ) Total $ 114,218 $ 110,539 The changes in the allowance for credit losses for the three months ended June 30, 2022, are: Schedule of Changes in Allowance for Doubtful Accounts Receivable Three months ended June 30, 2022 Balance at beginning of period $ 188 Additions charged to costs and expenses 580 Deductions and write-offs, net of foreign currency adjustment (63 ) Balance at end of period $ 705 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 are also included within contract assets. 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 unaudited condensed consolidated balance sheets. The table below presents the components of net contract assets (liabilities). Schedule of Contract Assets and Liabilities June 30, 2022 December 31, 2021 Contract assets — current $ 16,310 $ 18,667 Contract assets — non-current 10,588 11,853 Contract liabilities — current (58,974 ) (45,213 ) Contract liabilities — non-current (47 ) (78 ) Net contract assets $ (32,123 ) $ (14,771 ) The components of contract assets are presented in the table below. Schedule of Contract Assets and Liabilities June 30, 2022 December 31, 2021 Unbilled contract receivables, gross $ 7,566 $ 8,174 Retainage 19,332 22,346 Total contract assets 26,898 30,520 Less: current portion 16,310 18,667 Contract Assets – non-current $ 10,588 $ 11,853 The components of contract liabilities are presented in the table below. Schedule of Contract Assets and Liabilities June 30, 2022 December 31, 2021 Billings in excess of costs $ 12,291 12,854 Advances from customers on uncompleted contracts 46,730 32,437 Total contract liabilities 59,021 45,291 Less: current portion 58,974 45,213 Contract liabilities – non-current $ 47 78 During the three and six months ended June 30, 2022, the Company recognized $ 3,421 5,503 1,534 3,002 Remaining Performance Obligations As of June 30, 2022, the Company had $ 355.9 100 239.1 116.8

Intangible Assets

Intangible Assets	6 Months Ended
	Jun. 30, 2022
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, 2022 Gross Acc. Amort. Net Trade Names $ 980 $ (980 ) $ - Notice of Acceptances (NOAs), product designs and other intellectual property 9,799 (6,770 ) 3,029 Non-compete Agreement 165 (165 ) - Customer Relationships 4,140 (4,140 ) - Total $ 15,084 $ (12,055 ) $ 3,029 December 31, 2021 Gross Acc. Amort. Net Trade Names $ 980 $ (947 ) $ 33 Notice of Acceptances (NOAs), product designs and other intellectual property 9,456 (6,280 ) 3,176 Non-compete Agreement 165 (160 ) 5 Customer Relationships 4,140 (4,017 ) 123 Total $ 14,741 $ (11,404 ) $ 3,337 The weighted average amortization period is 5.25 During the three and six months ended June 30, 2022, the amortization expense amounted to $ 314 789 566 1,138 The estimated aggregate amortization expense for each of the five succeeding years as of June 30, 2022 is as follows: Schedule of Finite Lived Intangible Assets Future Amortization Expense Year ending (in thousands) 2022 $ 557 2023 962 2024 662 2025 337 Thereafter 511 Total $ 3,029

Debt

Debt	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Debt	Note 6. Debt The Company’s debt is comprised of the following: Schedule of Debt June 30, 2022 December 31, 2021 Revolving lines of credit $ 7,235 $ 279 Finance lease 251 306 Other loans - 239 Senior Secured Credit Facility 182,500 204,257 Less: Deferred cost of financing (5,127 ) (6,026 ) Total obligations under borrowing arrangements 184,859 199,055 Less: Current portion of long-term debt and other current borrowings 591 10,700 Long-term debt $ 184,268 $ 188,355 In October 2020, the Company closed a $ 300 five 250 50 0.75 2.50 3.50 23.1 210 8.2 mature in 2022 10.9 8.6 In November 2021, the Company amended its Senior Secured Credit Facility to (i) increase the borrowing capacity under its committed Line of credit from $ 50 150 1.50 0.75 2.50 15 3.23 1,496 1,346 150 15 1.5 As of June 30, 2022, the Company was obligated under various finance leases under which the aggregate present value of the minimum lease payments amounted to $ 251 31 Maturities of long-term debt and other current borrowings are as follows as of June 30, 2022: Schedule of Maturities of Long Term Debt 2023 $ 591 2024 10,094 2025 13,794 2026 15,000 2027 150,507 Thereafter - Total $ 189,986 The Company’s loans have maturities ranging from a few weeks to 5 years 2.50

Hedging Activity and Fair Value

Hedging Activity and Fair Value Measurements	6 Months Ended
	Jun. 30, 2022
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 March 31, 2022, we entered into interest rate swap contracts to hedge the interest rate fluctuations related to our outstanding debt. The effective date of the contract is December 31, 2022 and, thus, we shall have payment dates each quarter, commencing March 31, 2023. Our contracts are designated as cash flow hedges since they are highly effective in offsetting changes in the cash flows attributable to forecasted LIBOR. We 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, 2022, the fair value of interest rate swap contracts was in a net asset position of $ 4.3 16 125 We assess the effectiveness of our interest rate swap contracts by comparing the change in the fair value of the interest rate swap 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 interest rate swap 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 accompanying consolidated balance sheet as of June 30, 2022, that we expect will be reclassified to earnings within the next twelve months, is $ 4.3 The fair value of our interest rate swap hedges is classified in the accompanying consolidated balance sheets as of June 30, 2022, are as follows: Schedule of Fair Value of Foreign Currency Hedges Derivative Assets Derivative Liabilities June 30, 2022 June 30, 2022 Derivatives designated as hedging instruments under Subtopic 815-20: Balance Sheet Location Fair Balance Sheet Location Fair Value Derivative instruments: Interest rate swap contracts Other current assets $ 4,332 Accrued liabilities $ ( - ) Total derivative instruments Total derivative assets $ 4,332 Total derivative liabilities $ ( - ) The ending accumulated balance for the interest rate swap contracts included in accumulated other comprehensive income was $ 4,332 The following table presents the gains (losses) on derivative financial instruments, and their classifications within the accompanying consolidated financial statements, for the quarter ended June 30, 2022: Schedule of Gains (Losses) on Derivative Financial Instruments 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, 2022 2021 2022 2021 Interest rate swap contracts $ 1,710 $ - Interest expense $ - $ - 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 Interest rate swap contracts $ 4,332 $ - Interest expense $ - $ - 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. The fair values of derivatives used to manage interest rate risks are based on LIBOR rates and interest rate swap curves. Measurement of our derivative assets and liabilities is considered a level 2 measurement. To carry out the swap valuation, the definition of the fixed leg (obligation) and variable leg (right) is used. Once the projected flows are obtained in both fixed and variable rates, the regression analysis is performed for prospective effectiveness test. The projection curve contains the forward interest rates to project flows at a variable rate and the discount curve contains the interest rates to discount future flows, using the one-month USD Libor curve. As of June 30, 2022, 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 June 30, 2022 December 31, 2021 Fair Value 188,340 194,285 Carrying Value 184,268 188,355

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2022
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) 2022 2021 2022 2021 Three months ended Six months ended 2022 2021 2022 2021 Current income tax United States $ (1,646 ) $ (815 ) $ (2,748 ) $ (1,493 ) Colombia (12,483 ) (7,052 ) (23,498 ) (9,347 ) Panama (11 ) (14 ) (20 ) (25 ) Current foreign tax expense benefit (11 ) (14 ) (20 ) (25 ) Total current income tax (14,140 ) (7,881 ) (26,266 ) (10,865 ) Deferred income Tax United States 79 49 199 79 Colombia (631 ) 231 817 (503 ) Panama - - - - Deferred foreign tax expense benefit - - - - Total deferred income tax (552 ) 280 1,016 (424 ) Total income provision $ (14,692 ) $ (7,601 ) $ (25,250 ) $ (11,289 ) Effective tax rate 30.5 % 27.9 % 31.7 % 28.8 % The weighted average statutory income tax rate for the three months ended June 30, 2022 and 2021 of 30.5 27.9 31.7 28.8

Related Parties

Related Parties	6 Months Ended
	Jun. 30, 2022
Related Party Transactions [Abstract]
Related Parties	Note 9. Related Parties The following is a summary of assets, liabilities, and income transactions with all related parties: Schedule of Related parties June 30, 2022 December 31, 2021 Due from related parties: Alutrafic Led SAS 538 526 Studio Avanti SAS 194 408 Due from other related parties 937 1,318 Total due from related parties $ 1,669 $ 2,252 Due to related parties: Vidrio Andino 3,155 2,834 Due to other related parties 1,031 1,023 Total due to related parties $ 4,186 $ 3,857 Schedule of Sale to Related Parties 2022 2021 2022 2021 Three months ended Six months ended June 30, June 30, 2022 2021 2022 2021 Sales to related parties: Alutrafic Led SAS 270 231 570 525 Studio Avanti SAS 164 104 332 165 Sales to other related parties 33 16 91 41 Sales to related parties $ 467 $ 351 $ 993 $ 731 A Construir SA On a recurring basis, we have engaged A Construir S.A. a heavy construction company operating in Barranquilla, Colombia to carry out construction related to our on-going capital expenditures at our production facilities in Colombia. Affiliates of Jose Daes and Christian Daes had an ownership stake in A Construir through June 1, 2022. During the three and six months ended June 30, 2022, we purchased $ 1,455 4,735 1,877 4,231 223 196 1,103 4 Alutrafic Led SAS In the ordinary course of business, we sell products to Alutrafic Led SAS (“Alutrafic”), a fabricator of electrical lighting equipment. Affiliates of Jose Daes and Christian Daes have an ownership stake in Alutrafic. During the three and six months ended June 30, 2022, we sold $ 270 570 231 525 538 526 Bancaplus SAS As of June 30, 2022, we had deposited the Colombian Peso equivalent to $ 1,345 247 Santa Maria del Mar SAS In the ordinary course of business, we purchase fuel for use at our manufacturing facilities from Estación Santa Maria del Mar SAS, a gas station located in the vicinity of our manufacturing campus which is owned by affiliates of Jose Daes and Christian Daes. During the three and six months ended June 30, 2022, we purchased $ 168 412 55 100 Fundacion Tecnoglass-ESWindows Fundacion Tecnoglass-ESWindows is a non-profit organization set up by the Company to carry out social causes in the communities around where we operate. We made charitable contributions during the three and six months ended June 30, 2022 for $ 439 795 304 581 Studio Avanti SAS In the ordinary course of business, we sell products to Studio Avanti SAS (“Avanti”), a distributer and installer of architectural systems in Colombia. Avanti is owned and controlled by Alberto Velilla, who is director of Energy Holding Corporation, the controlling shareholder of the Company. As of June 30, 2022 and December 31, 2021, the Company had outstanding accounts receivable from Avanti for $ 194 408 164 332 104 165 Vidrio Andino Joint Venture 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 land will serve the purpose of developing a second float glass plant nearby our existing manufacturing facilities which we expect will carry significant efficiencies for us once it becomes operative, in which we will also have a 25.8 12.5 In the ordinary course of business, we purchased $ 3,948 9,041 3,430 6,828 3,155 2,834 1,669 3,249 788 1,879 Zofracosta SA Our subsidiary ES has an investment in Zofracosta SA, a real estate holding company and operator of a tax free zone located in the vicinity of the proposed glass plant being built through our Vidrio Andino joint venture for $ 737 764

Shareholders_ Equity

Shareholders’ Equity	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Shareholders’ Equity	Note 10. Shareholders’ Equity Dividends On June 2, 2022, the Company declared a regular quarterly dividend of $ 0.065 0.26 July 29, 2022 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, 2022 and 2021: Schedule of Earnings Per Share, Basic and Diluted 2022 2021 2022 2021 Three months ended Six months ended June 30, June 30, 2022 2021 2022 2021 Numerator for basic and diluted earnings per shares Net Income $ 33,413 $ 19,644 $ 54,366 $ 27,924 ) Denominator Denominator for basic earnings per ordinary share – weighted average shares outstanding 47,674,773 47,674,773 47,674,773 47,674,773 Effect of dilutive securities and stock dividend - - - - Denominator for diluted earnings per ordinary share – weighted average shares outstanding 47,674,773 47,674,773 47,674,773 47,674,773 Basic earnings per ordinary share $ 0.70 $ 0.41 $ 1.14 $ 0.59 ) Diluted earnings per ordinary share $ 0.70 $ 0.41 $ 1.14 $ 0.59 )

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 11. Commitments and Contingencies Commitments As of June 30, 2022, the Company signed an agreement to purchase an aggregate of at least $ 90 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 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, 2022
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, 2022
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, 2021. 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, ES Metals SAS (“ES Metals”), and Ventanas Solar S.A (“VS”), 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, otherwise 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.
Recast of Prior Year Period Financial Statements	Recast of Prior Year Period Financial Statements On November 8, 2021, we announced that we entered into a purchase agreement with Ventanas Solar S.A. (“VS”), a Panama domiciled company that acts as an importer and distributor of the Company’s products in the Republic of Panama. VS was affiliated with family members of Jose M. Daes, the Company’s Chief Executive Officer, and Christian T. Daes, the Company’s Chief Operating Officer. Pursuant to the Agreement, the Company through ES acquired 95 4.0 5% The acquisition of VS was deemed to be a transaction between entities under common control. As a result, the assets and liabilities were transferred at the historical cost of VS, with prior periods retroactively adjusted to include the historical financial results of the acquired company for the period they were controlled by the previous owners of VS in the Company’s financial statements. The following table includes the financial information as originally reported and the net effect of the VS acquisition after elimination of intercompany transactions: Schedule of Consolidated Financial Statements Three months ended June 30, 2021 Six months ended June 30, 2021 Prior to Effect of After Prior to Effect of After acquisition acquisition acquisition acquisition acquisition Acquisition Total Sales 121,714 38 121,752 232,594 713 233,307 Operating Income 28,397 371 28,768 53,790 411 54,201 Income attributable to parent 19,234 552 19,786 27,400 384 27,784 Basic income per share 0.42 0.00 0.42 0.59 0.01 0.60 Diluted income per share 0.42 0.00 0.42 0.59 0.01 0.60
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.
Adoption of New Accounting Standards	Adoption of New Accounting Standards 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 for smaller reporting companies. 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. We adopted this standard using the modified retrospective approach at the beginning of fiscal year 2022 as we no longer qualified as a smaller reporting company. The adoption of this ASU did not have a significant impact on the Company’s earnings or financial condition. Refer to additional disclosures in Note 4.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements 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’s outstanding debt,. which bears interest based on LIBOR. contains provisions for transitioning into a benchmark reference rate prior to the discontinuation of LIBOR in 2023. Our interest rate swap derivative contract will be adjusted accordingly. We reviewed all other recently issued accounting pronouncements and concluded that they were either not applicable or not expected to have a significant impact to the condensed consolidated financial statements.

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Schedule of Consolidated Financial Statements	The following table includes the financial information as originally reported and the net effect of the VS acquisition after elimination of intercompany transactions: Schedule of Consolidated Financial Statements Three months ended June 30, 2021 Six months ended June 30, 2021 Prior to Effect of After Prior to Effect of After acquisition acquisition acquisition acquisition acquisition Acquisition Total Sales 121,714 38 121,752 232,594 713 233,307 Operating Income 28,397 371 28,768 53,790 411 54,201 Income attributable to parent 19,234 552 19,786 27,400 384 27,784 Basic income per share 0.42 0.00 0.42 0.59 0.01 0.60 Diluted income per share 0.42 0.00 0.42 0.59 0.01 0.60

Inventories, net (Tables)

Inventories, net (Tables)	6 Months Ended
	Jun. 30, 2022
Inventory Disclosure [Abstract]
Schedule of Inventories	Schedule of Inventories June 30, 2022 December 31, 2021 Raw materials $ 73,386 $ 54,443 Work in process 16,690 11,126 Finished goods 8,983 8,789 Spares and accessories 11,470 9,869 Packing material 1,500 870 Total Inventories, gross 112,029 85,097 Less: Inventory allowance (115 ) (122 ) Total inventories, net $ 111,914 $ 84,975

Revenues, Trade Accounts Rece_2

Revenues, Trade Accounts Receivable, Contract Assets and Contract Liabilities (Tables)	6 Months Ended
	Jun. 30, 2022
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Schedule of Disaggregation by Revenue	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 by Revenue Three months ended Six months ended June 30, June 30, 2022 2021 2022 2021 Fixed price contracts $ 22,525 $ 21,242 $ 41,376 $ 43,675 Product sales 146,599 100,510 262,296 189,632 Total Revenues $ 169,124 $ 121,752 $ 303,672 $ 233,307
Schedule of Segment and Geographic Information	The following table presents geographical information about revenues. Schedule of Segment and Geographic Information Three months ended June 30, Six months ended June 30, 2022 2021 2022 2021 Colombia $ 4,816 $ 8,166 $ 8,841 $ 15,831 United States 161,478 109,879 288,461 210,686 Panama 1,003 1,300 1,803 2,231 Other 1,827 2,408 4,567 4,559 Total Revenues $ 169,124 $ 121,752 $ 303,672 $ 233,307
Schedule of Trade Accounts Receivable	Trade accounts receivable consist of the following: Schedule of Trade Accounts Receivable June 30, 2022 December 31, 2021 Trade accounts receivable 114,923 110,727 Less: Allowance for credit losses (705 ) (188 ) Total $ 114,218 $ 110,539
Schedule of Changes in Allowance for Doubtful Accounts Receivable	The changes in the allowance for credit losses for the three months ended June 30, 2022, are: Schedule of Changes in Allowance for Doubtful Accounts Receivable Three months ended June 30, 2022 Balance at beginning of period $ 188 Additions charged to costs and expenses 580 Deductions and write-offs, net of foreign currency adjustment (63 ) Balance at end of period $ 705
Schedule of Contract Assets and Liabilities	The table below presents the components of net contract assets (liabilities). Schedule of Contract Assets and Liabilities June 30, 2022 December 31, 2021 Contract assets — current $ 16,310 $ 18,667 Contract assets — non-current 10,588 11,853 Contract liabilities — current (58,974 ) (45,213 ) Contract liabilities — non-current (47 ) (78 ) Net contract assets $ (32,123 ) $ (14,771 )
Contract Assets [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Schedule of Contract Assets and Liabilities	The components of contract assets are presented in the table below. Schedule of Contract Assets and Liabilities June 30, 2022 December 31, 2021 Unbilled contract receivables, gross $ 7,566 $ 8,174 Retainage 19,332 22,346 Total contract assets 26,898 30,520 Less: current portion 16,310 18,667 Contract Assets – non-current $ 10,588 $ 11,853
Contract Liabilities [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Schedule of Contract Assets and Liabilities	The components of contract liabilities are presented in the table below. Schedule of Contract Assets and Liabilities June 30, 2022 December 31, 2021 Billings in excess of costs $ 12,291 12,854 Advances from customers on uncompleted contracts 46,730 32,437 Total contract liabilities 59,021 45,291 Less: current portion 58,974 45,213 Contract liabilities – non-current $ 47 78

Intangible Assets (Tables)

Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite Lived Intangible Assets	Schedule of Finite Lived Intangible Assets June 30, 2022 Gross Acc. Amort. Net Trade Names $ 980 $ (980 ) $ - Notice of Acceptances (NOAs), product designs and other intellectual property 9,799 (6,770 ) 3,029 Non-compete Agreement 165 (165 ) - Customer Relationships 4,140 (4,140 ) - Total $ 15,084 $ (12,055 ) $ 3,029 December 31, 2021 Gross Acc. Amort. Net Trade Names $ 980 $ (947 ) $ 33 Notice of Acceptances (NOAs), product designs and other intellectual property 9,456 (6,280 ) 3,176 Non-compete Agreement 165 (160 ) 5 Customer Relationships 4,140 (4,017 ) 123 Total $ 14,741 $ (11,404 ) $ 3,337
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, 2022 is as follows: Schedule of Finite Lived Intangible Assets Future Amortization Expense Year ending (in thousands) 2022 $ 557 2023 962 2024 662 2025 337 Thereafter 511 Total $ 3,029

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Schedule of Debt	The Company’s debt is comprised of the following: Schedule of Debt June 30, 2022 December 31, 2021 Revolving lines of credit $ 7,235 $ 279 Finance lease 251 306 Other loans - 239 Senior Secured Credit Facility 182,500 204,257 Less: Deferred cost of financing (5,127 ) (6,026 ) Total obligations under borrowing arrangements 184,859 199,055 Less: Current portion of long-term debt and other current borrowings 591 10,700 Long-term debt $ 184,268 $ 188,355
Schedule of Maturities of Long Term Debt	Maturities of long-term debt and other current borrowings are as follows as of June 30, 2022: Schedule of Maturities of Long Term Debt 2023 $ 591 2024 10,094 2025 13,794 2026 15,000 2027 150,507 Thereafter - Total $ 189,986

Hedging Activity and Fair Val_2

Hedging Activity and Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Fair Value of Foreign Currency Hedges	The fair value of our interest rate swap hedges is classified in the accompanying consolidated balance sheets as of June 30, 2022, are as follows: Schedule of Fair Value of Foreign Currency Hedges Derivative Assets Derivative Liabilities June 30, 2022 June 30, 2022 Derivatives designated as hedging instruments under Subtopic 815-20: Balance Sheet Location Fair Balance Sheet Location Fair Value Derivative instruments: Interest rate swap contracts Other current assets $ 4,332 Accrued liabilities $ ( - ) Total derivative instruments Total derivative assets $ 4,332 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 consolidated financial statements, for the quarter ended June 30, 2022: Schedule of Gains (Losses) on Derivative Financial Instruments 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, 2022 2021 2022 2021 Interest rate swap contracts $ 1,710 $ - Interest expense $ - $ - 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 Interest rate swap contracts $ 4,332 $ - Interest expense $ - $ -
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 June 30, 2022 December 31, 2021 Fair Value 188,340 194,285 Carrying Value 184,268 188,355

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2022
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) 2022 2021 2022 2021 Three months ended Six months ended 2022 2021 2022 2021 Current income tax United States $ (1,646 ) $ (815 ) $ (2,748 ) $ (1,493 ) Colombia (12,483 ) (7,052 ) (23,498 ) (9,347 ) Panama (11 ) (14 ) (20 ) (25 ) Current foreign tax expense benefit (11 ) (14 ) (20 ) (25 ) Total current income tax (14,140 ) (7,881 ) (26,266 ) (10,865 ) Deferred income Tax United States 79 49 199 79 Colombia (631 ) 231 817 (503 ) Panama - - - - Deferred foreign tax expense benefit - - - - Total deferred income tax (552 ) 280 1,016 (424 ) Total income provision $ (14,692 ) $ (7,601 ) $ (25,250 ) $ (11,289 ) Effective tax rate 30.5 % 27.9 % 31.7 % 28.8 %

Related Parties (Tables)

Related Parties (Tables)	6 Months Ended
	Jun. 30, 2022
Related Party Transactions [Abstract]
Schedule of Related parties	The following is a summary of assets, liabilities, and income transactions with all related parties: Schedule of Related parties June 30, 2022 December 31, 2021 Due from related parties: Alutrafic Led SAS 538 526 Studio Avanti SAS 194 408 Due from other related parties 937 1,318 Total due from related parties $ 1,669 $ 2,252 Due to related parties: Vidrio Andino 3,155 2,834 Due to other related parties 1,031 1,023 Total due to related parties $ 4,186 $ 3,857
Schedule of Sale to Related Parties	Schedule of Sale to Related Parties 2022 2021 2022 2021 Three months ended Six months ended June 30, June 30, 2022 2021 2022 2021 Sales to related parties: Alutrafic Led SAS 270 231 570 525 Studio Avanti SAS 164 104 332 165 Sales to other related parties 33 16 91 41 Sales to related parties $ 467 $ 351 $ 993 $ 731

Shareholders_ Equity (Tables)

Shareholders’ Equity (Tables)	6 Months Ended
	Jun. 30, 2022
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, 2022 and 2021: Schedule of Earnings Per Share, Basic and Diluted 2022 2021 2022 2021 Three months ended Six months ended June 30, June 30, 2022 2021 2022 2021 Numerator for basic and diluted earnings per shares Net Income $ 33,413 $ 19,644 $ 54,366 $ 27,924 ) Denominator Denominator for basic earnings per ordinary share – weighted average shares outstanding 47,674,773 47,674,773 47,674,773 47,674,773 Effect of dilutive securities and stock dividend - - - - Denominator for diluted earnings per ordinary share – weighted average shares outstanding 47,674,773 47,674,773 47,674,773 47,674,773 Basic earnings per ordinary share $ 0.70 $ 0.41 $ 1.14 $ 0.59 ) Diluted earnings per ordinary share $ 0.70 $ 0.41 $ 1.14 $ 0.59 )

Schedule of Consolidated Financ

Schedule of Consolidated Financial Statements (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Restructuring Cost and Reserve [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 169,124	$ 121,752	$ 303,672	$ 233,307
Operating Income	45,487	28,768	79,453	54,201
Income attributable to parent	$ 33,194	$ 19,593	$ 54,047	$ 27,784
Basic income per share	$ 0.70	$ 0.41	$ 1.14	$ 0.59
Diluted income per share	$ 0.70	$ 0.41	$ 1.14	$ 0.59
Ventanas solar acquisition [Member] | Prior to acquistion [Member]
Restructuring Cost and Reserve [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		$ 121,714		$ 232,594
Operating Income		28,397		53,790
Income attributable to parent		$ 19,234		$ 27,400
Basic income per share		$ 0.42		$ 0.59
Diluted income per share		$ 0.42		$ 0.59
Ventanas solar acquisition [Member] | Effect of acquisition [Member]
Restructuring Cost and Reserve [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		$ 38		$ 713
Operating Income		371		411
Income attributable to parent		$ 552		$ 384
Basic income per share		$ 0		$ 0.01
Diluted income per share		$ 0		$ 0.01
Ventanas solar acquisition [Member] | After acquisition [Member]
Restructuring Cost and Reserve [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		$ 121,752		$ 233,307
Operating Income		28,768		54,201
Income attributable to parent		$ 19,786		$ 27,784
Basic income per share		$ 0.42		$ 0.60
Diluted income per share		$ 0.42		$ 0.60

Basis of Presentation and Sum_4

Basis of Presentation and Summary of Significant Accounting Policies (Details Narrative) - USD ($) $ in Millions	Jun. 30, 2022	Nov. 08, 2021
Restructuring Cost and Reserve [Line Items]
Accounts receivable		$ 4
CI energia solar SASES windows [Member]
Restructuring Cost and Reserve [Line Items]
Purchase agreement		95%
Remaining interest rate	5%

Schedule of Inventories (Detail

Schedule of Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 73,386	$ 54,443
Work in process	16,690	11,126
Finished goods	8,983	8,789
Spares and accessories	11,470	9,869
Packing material	1,500	870
Total Inventories, gross	112,029	85,097
Less: Inventory allowance	(115)	(122)
Total inventories, net	$ 111,914	$ 84,975

Schedule of Disaggregation by R

Schedule of Disaggregation by Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disaggregation of Revenue [Line Items]
Total Revenues	$ 169,124	$ 121,752	$ 303,672	$ 233,307
Fixed price contracts [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	22,525	21,242	41,376	43,675
Product Sales [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	$ 146,599	$ 100,510	$ 262,296	$ 189,632

Schedule of Segment and Geograp

Schedule of Segment and Geographic Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disaggregation of Revenue [Line Items]
Total Revenues	$ 169,124	$ 121,752	$ 303,672	$ 233,307
COLOMBIA
Disaggregation of Revenue [Line Items]
Total Revenues	4,816	8,166	8,841	15,831
UNITED STATES
Disaggregation of Revenue [Line Items]
Total Revenues	161,478	109,879	288,461	210,686
PANAMA
Disaggregation of Revenue [Line Items]
Total Revenues	1,003	1,300	1,803	2,231
Other [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	$ 1,827	$ 2,408	$ 4,567	$ 4,559

Schedule of Trade Accounts Rece

Schedule of Trade Accounts Receivable (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Operating revenues:
Trade accounts receivable	$ 114,923	$ 110,727
Less: Allowance for credit losses	(705)	(188)
Total	$ 114,218	$ 110,539

Schedule of Changes in Allowanc

Schedule of Changes in Allowance for Doubtful Accounts Receivable (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2022	Jun. 30, 2021
Operating revenues:
Balance at beginning of period	$ 188
Additions charged to costs and expenses	580	$ 580	$ 748
Deductions and write-offs, net of foreign currency adjustment	(63)
Balance at end of period	$ 705	$ 705

Schedule of Contract Assets and

Schedule of Contract Assets and Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Operating revenues:
Less: current portion	$ 16,310	$ 18,667
Contract Assets – non-current	10,588	11,853
Contract liabilities — current	(58,974)	(45,213)
Contract liabilities — non-current	(47)	(78)
Net contract assets	(32,123)	(14,771)
Unbilled contract receivables, gross	7,566	8,174
Retainage	19,332	22,346
Total contract assets	26,898	30,520
Billings in excess of costs	12,291	12,854
Advances from customers on uncompleted contracts	46,730	32,437
Total contract liabilities	59,021	45,291
Less: current portion	58,974	45,213
Contract liabilities – non-current	$ 47	$ 78

Revenues, Trade Accounts Rece_3

Revenues, Trade Accounts Receivable, Contract Assets and Contract Liabilities (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Sales related to contract liabilities	$ 3,421	$ 1,534	$ 5,503	$ 3,002
Revenue, remaining performance obligation, amount	$ 355,900		$ 355,900
Revenue, remaining performance obligation, percentage	100%		100%
December 31, 2022 [Member]
Performance obligations revenue	$ 239,100		$ 239,100
December 31, 2023 [Member]
Performance obligations revenue	$ 116,800		$ 116,800

Schedule of Finite Lived Intang

Schedule of Finite Lived Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Intangible assets, Gross	$ 15,084	$ 14,741
Accumulated Amortization	(12,055)	(11,404)
Total	3,029	3,337
Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, Gross	980	980
Accumulated Amortization	(980)	(947)
Total		33
Notice of Acceptances [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, Gross	9,799	9,456
Accumulated Amortization	(6,770)	(6,280)
Total	3,029	3,176
Non-compete Agreement [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, Gross	165	165
Accumulated Amortization	(165)	(160)
Total		5
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, Gross	4,140	4,140
Accumulated Amortization	(4,140)	(4,017)
Total		$ 123

Schedule of Finite Lived Inta_2

Schedule of Finite Lived Intangible Assets Future Amortization Expense (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
2022	$ 557
2023	962
2024	662
2025	337
Thereafter	511
Total	$ 3,029	$ 3,337

Intangible Assets (Details Narr

Intangible Assets (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Weighted average amortization period			5 years 3 months
Amortization expense	$ 314	$ 566	$ 789	$ 1,138

Schedule of Debt (Details)

Schedule of Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Debt Disclosure [Abstract]
Revolving lines of credit	$ 7,235	$ 279
Finance lease	251	306
Other loans		239
Senior Secured Credit Facility	182,500	204,257
Less: Deferred cost of financing	(5,127)	(6,026)
Total obligations under borrowing arrangements	184,859	199,055
Less: Current portion of long-term debt and other current borrowings	591	10,700
Long-term debt	$ 184,268	$ 188,355

Schedule of Maturities of Long

Schedule of Maturities of Long Term Debt (Details) $ in Thousands	Jun. 30, 2022 USD ($)
Debt Disclosure [Abstract]
2023	$ 591
2024	10,094
2025	13,794
2026	15,000
2027	150,507
Thereafter
Total	$ 189,986

Debt (Details Narrative)

Debt (Details Narrative) - USD ($) $ in Thousands	1 Months Ended					6 Months Ended
	Mar. 31, 2022	Nov. 30, 2021	Jan. 31, 2021	Dec. 31, 2020	Oct. 31, 2020	Jun. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Long-term line of credit						$ 7,235	$ 279
Repayments of long-term lines cf credit				$ 23,100
Debt Instrument, Maturity Date, Description						few weeks to 5 years
Present value of minimum lease payments						$ 251
Weighted average remaining lease term						31 months
Debt, weighted average interest rate						2.50%
Unsecured Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			8.20%
Debt instrument, face amount			$ 210,000
Debt Instrument, Maturity Date, Description			mature in 2022
Debt extinguishment cost			$ 10,900
Debt extinguishment of call premium			$ 8,600
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
Line of credit facility, term					5 years
Debt Instrument, Interest Rate, Stated Percentage	1.50%
Line of credit facility, borrowing capacity, description		(i) increase the borrowing capacity under its committed Line of credit from $50 million to $150 million, (ii) reduce its borrowing costs by an approximate 130 basis points, and (iii) extend the initial maturity date by one year to the end of 2026
Annual savings		$ 15,000
Effective interest rate issuance		3.23%
Fees paid		$ 1,496
Decrease in line of credit facility	$ 15,000
Senior Secured Credit Facility [Member] | Deferred cost [Member]
Debt Instrument [Line Items]
Fees paid		1,346
Senior Secured Credit Facility [Member] | Operating Expense [Member]
Debt Instrument [Line Items]
Fees paid		150
Senior Secured Credit Facility [Member] | Minimum [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity		50,000
Senior Secured Credit Facility [Member] | Maximum [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity		$ 150,000
Senior Secured Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate		2.50%
Senior Secured Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate					2.50%
Senior Secured Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate					3.50%
Senior Secured Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Interest Rate Floor [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage					0.75%
Debt Instrument, Basis Spread on Variable Rate		0.75%
Senior Secured Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Interest Rate With No Floor [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate		1.50%
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Long-term line of credit					$ 50,000

Schedule of Fair Value of Forei

Schedule of Fair Value of Foreign Currency Hedges (Details) - Non-Delivery Collar Contracts [Member] $ in Thousands	Jun. 30, 2022 USD ($)
Derivative Instruments, Gain (Loss) [Line Items]
Total derivative assets	$ 4,332
Total derivative liabilities
Other Current Assets [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Total derivative assets	4,332
Accrued Liabilities [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Total derivative liabilities

Schedule of Gains (Losses) on D

Schedule of Gains (Losses) on Derivative Financial Instruments (Details) - Interest Rate Swap Contracts [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in OCI (Loss) on Derivatives	$ 1,710		$ 4,332
Amount of gain or (Loss) Reclassified from Accumulated OCI (Loss) into Income

Summary of Fair Value and Carry

Summary of Fair Value and Carrying Amounts of Long Term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair Value	$ 188,340	$ 194,285
Carrying Value	$ 184,268	$ 188,355

Hedging Activity and Fair Val_3

Hedging Activity and Fair Value Measurements (Details Narrative) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Accumulated other comprehensive income net of tax	$ (74,404)	$ (68,751)
Accumulated Other Comprehensive Loss [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Reclassification eanings expected	4,300
Interest Rate Swap [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative assets	4,300
Interest outstanding	16
Debt outstanding amount	125,000
Collar Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Accumulated other comprehensive income net of tax	$ 4,332

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, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
United States	$ 1,646	$ 815	$ 2,748	$ 1,493
Total current income tax	(14,140)	(7,881)	(26,266)	(10,865)
United States	(79)	(49)	(199)	(79)
Total deferred income tax	(552)	280	1,016	(424)
Total income provision	$ (14,692)	$ (7,601)	$ (25,250)	$ (11,289)
Effective tax rate	30.50%	27.90%	31.70%	28.80%
COLOMBIA
Current foreign tax expense benefit	$ (12,483)	$ (7,052)	$ (23,498)	$ (9,347)
Deferred foreign tax expense benefit	(631)	231	817	(503)
PANAMA
Current foreign tax expense benefit	(11)	(14)	(20)	(25)
Deferred foreign tax expense benefit

Income Taxes (Details Narrative

Income Taxes (Details Narrative)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Weighted average statutory income tax rate	30.50%	27.90%
Effective tax rate	30.50%	27.90%	31.70%	28.80%

Schedule of Related parties (De

Schedule of Related parties (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Related Party Transaction [Line Items]
Total due from related parties	$ 1,669	$ 2,252
Due from other related parties	937	1,318
Total due to related parties	4,186	3,857
Due to other related parties	1,031	1,023
Alutrafic Led SAS [Member]
Related Party Transaction [Line Items]
Total due from related parties	538	526
Studio Avanti SAS [Member]
Related Party Transaction [Line Items]
Total due from related parties	194	408
Vidrio Andino [Member]
Related Party Transaction [Line Items]
Total due to related parties	$ 3,155	$ 2,834

Schedule of Sale to Related Par

Schedule of Sale to Related Parties (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Related Party Transaction [Line Items]
Sales to related parties	$ 467	$ 351	$ 993	$ 731
Alutrafic Led SAS [Member]
Related Party Transaction [Line Items]
Sales to related parties	270	231	570	525
Studio Avanti SAS [Member]
Related Party Transaction [Line Items]
Sales to related parties	164	104	332	165
Sales To Other Related Parties [Member]
Related Party Transaction [Line Items]
Sales to related parties	$ 33	$ 16	$ 91	$ 41

Related Parties (Details Narrat

Related Parties (Details Narrative) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands				3 Months Ended		6 Months Ended
	Dec. 09, 2020	Oct. 28, 2020	May 03, 2019	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Related Party Transaction [Line Items]
Due from Related Parties				$ 1,669		$ 1,669		$ 2,252
Due to Related Parties				4,186		4,186		3,857
Revenue from Related Parties				467	$ 351	993	$ 731
Equity method income				1,669	788	3,249	1,879
Vidrio Andino [Member]
Related Party Transaction [Line Items]
Business combination, step acquisition, equity interest in acquiree, percentage			25.80%
A Construir SA [Member]
Related Party Transaction [Line Items]
Payments for capitalized property plant and equipment				1,455	1,877	4,735	4,231
Due from Related Parties				223		223		196
Due to Related Parties				1,103		1,103		4
Alutrafic Led SAS [Member]
Related Party Transaction [Line Items]
Due from Related Parties				538		538		526
Revenue from Related Parties				270	231	570	525
Bancaplus SAS [Member]
Related Party Transaction [Line Items]
Due to Related Parties				247		247
Investments and Cash				1,345		1,345
Santa Maria Del Mar SAS [Member] | CEO And COO [Member]
Related Party Transaction [Line Items]
Purchase price of fuel				168	55	412	100
Fundacion tecnoglass [Member]
Related Party Transaction [Line Items]
Cash contributions for social causes				439	304	795	581
Studio Avanti SAS [Member]
Related Party Transaction [Line Items]
Due from Related Parties				194		194		408
Revenue from Related Parties				164	104	332	165
Vidrio Andino [Member]
Related Party Transaction [Line Items]
Due to Related Parties				3,155		$ 3,155		2,834
Cash Acquired from Acquisition			$ 45,000
Payment of cash	$ 34,100
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Land	$ 10,900
Aggregate shares of ordinary shares		1,557,142
Shares Issued, Price Per Share		$ 7
Expected manufacturing interest rate percentage		33%				25.80%
Additional cash contribution						$ 12,500
Business Combination, Consideration Transferred				3,948	3,430	9,041	6,828
Equity method income				1,669	$ 788	3,249	$ 1,879
Zofracosta [Member]
Related Party Transaction [Line Items]
Investments				$ 737		$ 737		$ 764

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, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021
Equity [Abstract]
Net Income	$ 33,413	$ 20,953	$ 19,644	$ 8,281	$ 54,366	$ 27,924
Denominator for basic earnings per ordinary share – weighted average shares outstanding	47,674,773		47,674,773		47,674,773	47,674,773
Effect of dilutive securities and stock dividend
Denominator for diluted earnings per ordinary share – weighted average shares outstanding	47,674,773		47,674,773		47,674,773	47,674,773
Basic earnings per ordinary share	$ 0.70		$ 0.41		$ 1.14	$ 0.59
Diluted earnings per ordinary share	$ 0.70		$ 0.41		$ 1.14	$ 0.59

Shareholders_ Equity (Details N

Shareholders’ Equity (Details Narrative)	Jun. 02, 2022 $ / shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Dividends payable, date to be paid	Jul. 29, 2022
Quarterly Rate [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Dividend rate per share	$ 0.065
Annual Basis [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Dividend rate per share	$ 0.26

Commitments and Contingencies (

Commitments and Contingencies (Details Narrative) - USD ($) $ / shares in Units, $ in Millions			6 Months Ended
	Oct. 28, 2020	May 03, 2019	Jun. 30, 2022
Loss Contingencies [Line Items]
Additional contribution paid			$ 12.5
Saint-Gobain Joint Venture Agreement [Member] | Common Stock [Member]
Loss Contingencies [Line Items]
Issuance of ordinary shares	1,557,142
Price per share	$ 7
Joint Venture Agreement [Member] | Galpa New Plant [Member]
Loss Contingencies [Line Items]
Equity percentage			25.80%
Vidrio Andino Holdings S.A.S [Member] | Saint-Gobain Joint Venture Agreement [Member]
Loss Contingencies [Line Items]
Minority ownership interest		25.80%
Purchase price for acquiring minority interest		$ 45
Cash consideration paid for acquisition of minority interest		34.1
Vidrio Andino Holdings S.A.S [Member] | Saint-Gobain Joint Venture Agreement [Member] | Land [Member]
Loss Contingencies [Line Items]
Recorded current liabilities in relation to acquisition		$ 10.9
Minimum [Member]
Loss Contingencies [Line Items]
Accounts payable			$ 90