MEXICO CITY, Dec. 16, 2010 /PRNewswire-FirstCall/ -- Corporacion GEO, S.A.B de C.V. (BMV: GEOB; CORPGEO MX, ADR Level I CUSIP: 21986V204; Latibex: XGEO), Casas GEO, Mexico's leading affordable entry-level housing developer, today announced guidance for full year 2011.
In 2011, GEO will continue to generate solid revenue growth between 10% and 13% and expects EBITDA margin between 21% and 23%, with neutral to positive free cash flow generation for the year.
The company's growth will be supported by its low-income focused strategy, where GEO maintains market share leadership with INFONAVIT and FOVISSSTE. In 2011, GEO expects to enhance current growth levels through its unique marketing strategy of providing homes for the non affiliated market, as well as construction and production efficiencies using GEO's ALPHA prefabricated technology, as well as administrative efficiencies focused on profitable growth. The company will continue to reduce expenses and improve its working capital cycle.
Finally, GEO reaffirms its commitment to creating sustainable communities that provide its customers with social, economic and environmental benefits while offering homes with the best services and support on the market.
About Corporacion GEO S.A.B. de C.V.
Corporacion GEO is a leading housing developer in Mexico and one of the largest in Latin America. The Company is engaged in all aspects of design, development, construction, marketing, sales and delivery of mainly low-income housing developments in Mexico. With operations in 19 states, GEO is one of the most geographically diversified homebuilders in Mexico. Since its inception GEO has sold more than 510,000 homes which currently provide housing to 2,000,000 people. GEO's Solid Business Model focuses mainly in the Affordable Entry Level and Economic segments, which are supported by government policies and by the Mexican Housing Institutions INFONAVIT and FOVISSSTE. For more information, visit www.corporaciongeo.com
SOURCE Corporacion GEO, S.A.B. de C.V.