Rassini, S.A.B. de C.V. and Subsidiaries Unaudited Results for the First Quarter of 2018
MEXICO CITY, April 23, 2018 /PRNewswire/ -- Rassini, S.A.B. de C.V. (Mexican Stock Exchange Ticker: RASSINI), a company engaged in the design and manufacture of suspension and brake components for the automotive industry, announced today its unaudited financial results for the first quarter ended March 31, 2018.
First Quarter 2018 Financial Highlights:
- Net revenue climbed to $4,748 million Mexican pesos.
- EBITDA reached $923 million Mexican pesos.
- Net operating cash flow reached $372 million Mexican pesos.
- Net income was $456 million Mexican pesos.
- Net Debt / annualized EBITDA ratio as of March 31, 2018 was 0.1x.
- EBITDA / Net Interest Expense ratio as of March 31, 2018 was 13.5x.
The U.S. auto sector achieved solid performance resulting from several factors, among them the fact that auto sales adjusted by seasonality (SAAR) in March reached 17.4 million vehicles, inventories were approximately 68 days of supply, and various favorable macroeconomic factors linked to the industry tracked more positively (GDP growth, unemployment rate, initial jobless claims, consumer confidence, etc.).
Financial Results:
| Consolidated |
First Quarter Results (January 1 - March 31) |
||
| 2018 (mill. pesos) |
2017 (mill. pesos) |
% |
|
| Sales |
$4,748 |
$4,880 |
(3%) |
| Gross Profit |
$1,223 |
$1,309 |
(7%) |
| EBITDA |
$923 |
$998 |
(8%) |
| Net Income before taxes and minority interest |
$590 |
$598 |
(1%) |
| Net Income |
$456 |
$457 |
0% |
For a complete overview of our financial results, please visit:
http://ir.rassini.com/en/reportes-trimestrales
Conference Call:
Rassini will host a conference call on Tuesday, April 24, 2018 at 9:00 a.m. (U.S. Central Time/Mexico City Time) / 10:00 a.m. (U.S. Eastern Time) to discuss its unaudited first quarter financial results and recent business activities.
The conference call may be accessed using the following numbers:
| US: |
+1-844-266-7440 |
| Mexico: |
01-800-926-9157 |
| International: |
+1-213-784-1694 |
| Passcode: |
3673804 |
Please dial in approximately 10 minutes before the scheduled time of this call.
A replay of the conference call will be available starting from 12:00 p.m. (U.S. Central Time/Mexico City Time) on April 24, 2018 to 11:59 p.m. (U.S. Central Time/Mexico City Time) on May 1, 2018 using the following numbers:
| US: |
+1-855-859-2056 |
| Mexico: |
404-537-3406 |
| Passcode: |
3673804 |
A presentation deck for the call will be available at:
http://ir.rassini.com/en/reportes-trimestrales
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. Rassini has eight manufacturing sites strategically located in Mexico, the U.S. and Brazil, as well as five 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, Mercedes Benz and Daimler among others.
Contact:
Emma Bocanegra Fragoso
Rassini, S.A.B. de C.V.
Tel: (5255) 5229-58-34
E-mail: [email protected]
www.rassini.com
SOURCE Rassini, S.A.B. de C.V.
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