Rassini, S.A.B. de C.V. and Subsidiaries Unaudited Results for the Fourth Quarter and Fiscal Year 2015

- Net revenues for the fiscal year 2015 increased 8% year-over-year

- EBITDA rises 37% from 2014 to $2,141 million pesos

- Net operating cash flow improves 103% year-over-year to $2,362 million pesos

Feb 23, 2016, 16:47 ET from Rassini, S.A.B. de C.V.

MEXICO CITY, Feb. 23, 2016 /PRNewswire/ -- Rassini, S.A.B. de C.V. (Mexican Stock Exchange Ticker: RASSINI), a Mexican industrial company engaged in the design and manufacture of suspension and brake components for the automotive industry, announced today its unaudited financial results for the fourth quarter and fiscal year 2015.

Consolidated Figures:

Consolidated

Fiscal Year 2015 Results

(Jan 1 - Dec 31)

2015

(mill. Pesos)

2014

(mill. Pesos)

% Change

Sales

$12,897

$11,900

8%

Gross profit

$3,072

$2,315

33%

EBITDA

$2,141

$1,568

37%

Net income before
taxes, extraordinary
income and minority
interest

$1,154

$832

39%

Net income

$884

$605*

46%

* Excludes one-time extraordinary income in the amount of $259 million pesos recorded in the third quarter of 2014

 

Fiscal Year 2015 Highlights

  • Rassini achieved a record level of sales, EBITDA and net income in the fiscal year 2015, and highest fourth quarter in terms of sales and EBITDA.
  • Net revenue increased 8.4% to $12,897 million pesos as a result of higher regional demand, market share gains for brake and suspension components, and continued momentum from existing contracts across the NAFTA region.
  • EBITDA grew 36.5% to $2,141 million Mexican pesos, driven by higher sales, an enhanced NAFTA region product mix, strong control over the cost structure and lower utilities prices.
  • Net income before taxes and minority interest increased 38.7% year-over-year to $1,154 million Mexican pesos, reflecting increased sales, reduced expenses and improvements in the product mix.
  • Major ratings agencies recognized Rassini's progress in entering new markets, growing sales and controlling costs as Moody's upgraded Rassini's corporate family rating from Ba3 to Ba2 and Fitch Ratings revised its outlook from stable to positive.

For a complete overview of our financial results, please visit:
http://www.rassini.com/en/financial.html.

Conference Call

Rassini will host a conference call on Wednesday, February 24, 2016 at 9:00 am (Mexico City Time) / 10:00 am (U.S. Eastern Time) to discuss its unaudited fourth quarter and fiscal year 2015 financial results and recent business activities.

The conference call may be accessed using the following numbers:

US: 

+1-888-556-4997

Mexico:

001 800 514 1067

International: 

+1-719-457-2689



Passcode: 

RASSINI or 169737

 

Please dial in approximately 10 minutes before the scheduled time of this call.

A replay of the conference call will be available starting from 1:00 pm (U.S. Eastern Time) on February 24, 2016 to 1:00 pm (U.S. Eastern Time) on March 2, 2016 using the following numbers:

US: 

+1-888-203-1112

Mexico: 

001 800 514 1067

Passcode: 

169737

 

A presentation deck for the call will be available at: http://www.rassini.com/en/financial.html

RASSINI

Rassini is a leading designer and manufacturer of suspension and brake components for the global automotive industry, mainly focused on original equipment manufacturers (OEMs).

Rassini is the world's largest producer of suspension components for light commercial vehicles as well as the largest fully integrated brakes disc producer in the Americas and has eight manufacturing sites strategically located in Mexico, the US and Brazil, as well as four tech centers located in the same countries.

Suspension products include leaf springs (parabolic and multi-leaf) for light and commercial trucks, coil springs and bushings. The brakes business manufactures rotors, drums, brake assemblies, clutch plates and motor balancers.

Its solid and diversified customer base includes: General Motors, Ford Motor Co., FCA, Nissan, Volkswagen, Toyota, MAN, Scania, Maserati, Mercedes Benz and Daimler among others.

Contact:

Francisco Freyre Servín
Rassini, S.A.B. de C.V.
Tel: (5255) 5229-58-20
Fax: (5255) 5202-58-95
www.rassini.com
E-mail: ffreyre@rassini.com

 

SOURCE Rassini, S.A.B. de C.V.



RELATED LINKS

http://www.rassini.com/en