Rassini, S.A.B. de C.V. and Subsidiaries Unaudited Results for the Second Quarter and First Half of 2015

- Reports highest second quarter sales in the company's history

- EBITDA growth outpaces sales growth, reaching record-high quarterly and half-year levels

Jul 28, 2015, 16:48 ET from Rassini, S.A.B. de C.V.

MEXICO CITY, July 28, 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 three and six months ended June 30, 2015.

Second Quarter 2015 Financial Highlights:

  • Net revenue climbed 3.9% year-over-year to $3,192 million Mexican pesos, the highest second quarter in Rassini's history.
  • EBITDA of $543 million Mexican pesos was up 22.3% year-over-year, the strongest quarter on record for Rassini.
  • Net income before taxes and minority interest of $302 million was 22.8% higher compared to the second quarter of 2014.

First Half 2015 Financial Highlights:

  • Net revenue grew 5.4% year-over-year to $6,400 million Mexican pesos.
  • EBITDA was up 28.4% year-over-year to $1,079 million Mexican pesos. Both net revenue and EBITDA represent the record levels for Rassini over a six month period.
  • Net income before taxes and minority interest increased 22.6% year-over-year to $600 million Mexican pesos.
  • Net Debt / annualized EBITDA ratio as of June 30, 2015 was 0.9x.
  • EBITDA/Net Interest Expense ratio as of June 30, 2015 was 8.6x.

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, July 29, 2015 at 9:00 am (U.S. Central Time/Mexico City Time) / 10:00 am (U.S. Eastern Time) to discuss its unaudited second quarter financial results and recent business activities.

The conference call may be accessed using the following numbers:

US:

+1-888-523-1225

Mexico:

001-800-514-1067

International:

+1-719-457-2648

Passcode:

RASSINI or 9869006

 

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 July 29, 2015 to 1:00 pm (U.S. Eastern Time) on August 5, 2015 using the following numbers:

U.S.:

+1-888-203-1112

Mexico:

001 800-514-5974

Passcode:

9869006

 

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

RASSINI

Rassini is a leader, 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 brake 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 Brake business manufactures Rotors, Drums, Brake Assemblies, Clutch Plates and Motor Balancers.

Its solid and diversified customer base includes: General Motors, Ford Motor Company, FCA, Nissan, Volkswagen, Audi, Toyota, MAN, Scania, Maserati and Mercedes Benz 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