MEXICO CITY, April 29, 2014 /PRNewswire/ -- SANLUIS Corporacion, S.A.B. de C.V. (Mexican Stock Exchange Ticker: SANLUIS), a Mexican industrial company engaged in the design and manufacture of suspension and brake components for the automotive industry, announced today its financial results for the first quarter 2014.
First Quarter 2014 Highlights:
- Consolidated sales increased 20% compared to the first quarter of 2013.
- EBITDA increased 10% year-over-year on a consolidated basis, for a total of $397 million Pesos during the quarter.
- Consolidated net income grew 51% to $172 million Pesos.
- Financial ratios continue to improve: Net Debt / annualized EBITDA ratio stands at 1.5x and EBITDA/Net Interest Expense at 5.9x as of March 31, 2014.
- The Brakes division received for the second time in a row the Supplier of the Year Award from General Motors, the only Mexican supplier to receive the recognition in both 2012 and 2013.
For a complete overview of our financial results, please visit http://www.sanluisrassini.com/eng/.
SANLUIS will host a conference call on Wednesday, April 30, 2014 at 9:00 am (US Central Time/Mexico City Time) / 10:00 am (US Eastern Time) to discuss its first quarter financial results and recent business activities.
The conference call may be accessed using the following numbers:
Passcode: SANLUIS or 4679708
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 pm (US Eastern Time) on April 30, 2014 to 12:00 pm (US Eastern Time) on May 7, 2014 using the following numbers:
Outside US: +1-303-590-3030
SANLUIS, through its brand SANLUIS Rassini, is a leader designer and manufacturer of suspension and brake components for the global automotive industry, mainly focused on original equipment manufacturers (OEMs).
SANLUIS 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 North America and Brazil.
Suspension products include Leaf Springs (parabolic and multi-leaf) for light and commercial trucks, Coil Springs, Torsion Bars 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, Chrysler - Fiat, Nissan, Volkswagen, Toyota, MAN, Scania and Mercedes Benz among others.
SOURCE SANLUIS Corporacion, S.A.B. de C.V.