Alfa, S. A. B. De C. V. Reports Consolidated Earnings Results for the First Quarter of 2017
April 24, 2017 at 10:28 pm EDT
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Alfa, S. A. B. de C. V. reported consolidated earnings results for the first quarter of 2017. For the quarter, the company reported Net Sales were MXN 81,381,000 against MXN 68,628,000 a year ago. Operating income was MXN 5,977,000 against MXN 6,761,000 a year ago. Income before the following provision was MXN 8,292,000 against MXN 4,803,000 a year ago. Consolidated net income was MXN 4,652,000 against MXN 3,784,000 a year ago. EBITDA was MXN 10,748,000 against MXN 10,444,000 a year ago. Net income corresponding to majority interest was MXN 3,106,000 against MXN 2,538,000 a year ago, this year-on-year increase is mainly the result of lower operating results but higher Comprehensive Financing Income due to higher foreign exchange gains stemming from the appreciation of the peso during the quarter. At the end of the quarter net debt amounted to $6,359 million against $5,844 million same period last year.
Alfa SAB de CV is a Mexico-based holding company, which manages a portfolio of diversified subsidiaries. Its portfolio includes Sigma, a producer, marketer and distributor of foods under a number of brands in Mexico, the United States, Europe and Latin America; Alpek, a producer of polyester, namely purified terephthalic acid (PTA), polyethylene terephthalate (PET) and fibers, and offers to the Mexican market expandable polystyrene (EPS) and caprolactam, among others; Nemak, a provider of lightweighting solutions for automotive industry and specialized in the development and manufacturing of aluminum components for powertrain and body structure; Axtel, a provider of information technology and communication services for enterprises, government and residential markets through its Alestra and Axtel brands, and Newpek, which is an oil and gas exploration and production company with operations in Mexico and the United States.
ALFA S.A.B. DE C.V. 
