MEXICO CITY, Oct. 20, 2016 /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 accumulated nine months ended September 30, 2016.
Third Quarter 2016 Financial Highlights:
- Net revenue climbed 25.7% year-over-year to $4,178 million Mexican pesos, a new record high.
- EBITDA was $782 million Mexican pesos, up 30.8% compared to the same period in 2015.
- Net income increased 24.5% to $376 million Mexican pesos.
First Nine Months 2016 Financial Highlights:
- Net revenue rose 23.3% year-over-year to $11,987 million Mexican pesos.
- EBITDA grew 41.3% to $2,369 million Mexican pesos.
- Net operating cash flow rose 21.4% to $1,646 million Mexican pesos.
- Net income increased 58.7% to $1,230 million Mexican pesos.
- Net Debt / annualized EBITDA ratio as of September 30, 2016 was 0.5x.
- EBITDA / Net Interest Expense ratio as of September 30, 2016 was 9.8x.
Financial Results:
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Consolidated
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Nine Month Results
(January 1-September 30)
|
Third Quarter Results
(July 1-September 30)
|
|
2016
(mill. Pesos)
|
2015
(mill. Pesos)
|
% Change
|
2016
(mill. Pesos)
|
2015
(mill. Pesos)
|
% Change
|
|
Sales
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$11,987
|
$9,724
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23%
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$4,178
|
$3,324
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26%
|
|
Gross Profit
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$3,227
|
$2,295
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41%
|
$1,082
|
$812
|
33%
|
|
EBITDA
|
$2,369
|
$1,677
|
41%
|
$782
|
$598
|
31%
|
|
Net Income before taxes and minority interest
|
$1,466
|
$935
|
57%
|
$450
|
$335
|
34%
|
|
Net Income
|
$1,230
|
$775
|
59%
|
$376
|
$302
|
25%
|
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 Friday, October 21, 2016 at 9:00 am (U.S. Central Time/Mexico City Time) / 10:00 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:
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US:
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+1-844-759-3792
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Mexico:
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001-800-926-9157
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|
International:
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+1-574-990-9507
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Passcode:
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94667826
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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 (U.S. Central Time/Mexico City Time) on October 21, 2016 to 11:00 (U.S. Central Time/Mexico City Time) on October 28, 2016 using the following numbers:
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US:
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+1-855-859-2056
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Mexico:
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001-800-926-9113
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Passcode:
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94667826
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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 Servín
Rassini, S.A.B. de C.V.
Tel: (5255) 5229-58-20
E-mail: ffreyre@rassini.com
www.rassini.com
SOURCE Rassini, S.A.B. de C.V.