Rassini, S.A.B. de C.V. and Subsidiaries Unaudited Results for the Third Quarter of 2015
- Net revenues for the quarter increase 11.3% year-over-year
- EBITDA rises 59.8% to $598 million Mexican pesos
- Net operating cash flow improves 18.1% to $1,356 million Mexican pesos
MEXICO CITY, Oct. 26, 2015 /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 third quarter and nine months ended September 30, 2015.
Third Quarter 2015 Financial Highlights:
- Net revenue climbed 11.3% year-over-year to $3,324 million Mexican pesos.
- EBITDA of $598 million Mexican pesos was up 59.8% year-over-year.
- Net operating cash flow rises 18.1% to $1,356 million Mexican pesos.
- Net income before taxes and minority interest of $335 million was 53.0% higher as compared to the third quarter of 2014.
First Nine Month 2015 Financial Highlights:
- Net revenue increased 7.3% year-over-year to $9,724 million Mexican pesos.
- EBITDA grew 38.0% to $1,677 million Mexican pesos.
- Net income before taxes and minority interest increased 32% year-over-year to $935 million Mexican pesos.
- Net Debt/annualized EBITDA ratio as of September 30, 2015 was 0.9x.
- EBITDA/Net Interest Expense ratio as of September 30, 2015 was 8.4x.
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 Tuesday, October 27, 2015 at 9:00 am (Mexico City Time) / 11:00 am (U.S. Eastern Time) to discuss its unaudited third quarter financial results and recent business activities.
The conference call may be accessed using the following numbers:
US: +1-888-430-8705
Mexico: 001 800 514 1067
International: +1-719-325-2495
Passcode: RASSINI or 9410725
Please dial in approximately 10 minutes before the scheduled time of this call.
A replay of the conference call will be available starting from 2:00 pm (U.S. Eastern Time) on October 27, 2015 to 2:00 pm (U.S. Eastern Time) on November 3, 2015 using the following numbers:
US: +1-888-203-1112
Mexico: 001 800 514 1067
Passcode: 9410725
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 Servin
Rassini, S.A.B. de C.V.
Tel: (5255) 5229-58-20
Fax: (5255) 5202-58-95
www.rassini.com
e-mail: [email protected]
SOURCE Rassini, S.A.B. de C.V.
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