ALPEK, S.A.B. de C.V. Reports Consolidated Earnings and Production Results for the First Quarter of 2017
April 24, 2017 at 10:28 pm EDT
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ALPEK, S.A.B. de C.V. reported consolidated earnings and production results for the first quarter of 2017. For the quarter, the company reported revenues were MXN 26,339 million against MXN 21,292 million a year ago. Operating income was MXN 2,535 million against MXN 2,484 million a year ago. Profit before income tax was MXN 2,850 million against MXN 2,189 million a year ago. Consolidated net income was MXN 2,157 million against MXN 1,872 million a year ago. Profit attributable to Controlling interest was MXN 1,769 million against MXN 1,282 million a year ago. EBITDA was $190 million $209 million a year ago. Capex was $143 million $131 million a year ago. Net debt as at end of first quarter of 2017 was $1,349 million against $1,327 million a year ago. Net income was $67 million against $97 million a year ago. EPS was $0.04 per share against $0.03 a year ago. Net Sales for the first quarter totaled $1.3 billion, up 9% year-on-year and quarter-on-quarter, mainly due to higher average consolidated prices in both business segments.
For the quarter, the company produced total volumes of 986 ktons against 988 kton a year ago.
Alpek SAB de CV is a Mexico-based company engaged in the chemicals sector. The Company's activities are divided into two business segments: Polyester and Plastics & Chemicals. The Polyester division focuses on the manufacture and distribution of purified terephthalic acid (PTA), polyethylene terephthalate (PET) and polyester fiber. The Plastics & Chemicals division is responsible for the production of polypropylene (PP), expandable polystyrene (EPS), caprolactam (CPL), ammonium sulfate, as well as specialty and industrial chemicals, such as surfactants, ethoxilates, glycoethers and desemulsionates. The Company's products are used in a range of industries, including consumer goods, food and beverages, automotive, construction, agriculture, oil and gas, as well as pharmaceuticals. It operates a number of production plants in the Americas. The Company is controlled by Alfa SAB de CV.