Consorcio ARA, S. A. B. de C. V. Announces Earnings Results for the Third Quarter and Nine Months Ended September 2016
October 24, 2016
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Consorcio ARA, S. A. B. de C. V. announced earnings results for the third quarter and nine months ended September 2016. For the quarter, the company reported revenues of MXN 1,960.4 million compared to MXN 1,715.9 million a year ago. Income from operations was MXN 223.7 million compared to MXN 191.8 million a year ago. Income before Income taxes was MXN 246.2 million compared to MXN 202.6 million a year ago. Net income was MXN 175.3 million compared to MXN 141.8 million a year ago. EBITDA was MXN 277.6 million compared to MXN 255.6 million a year ago.
For the nine months, the company reported revenues of MXN 5,561.3 million compared to MXN 5,095.5 million a year ago. Income from operations was MXN 658.8 million compared to MXN 575.5 million a year ago. Income before Income taxes was MXN 738.2 million compared to MXN 623.4 million a year ago. Net income was MXN 523.6 million compared to MXN 436.4 million a year ago. EBITDA was MXN 812.6 million compared to MXN 736.6 million a year ago. Net cash provided by operating activities was MXN 73.7 million compared to MXN 354.2 million a year ago. Purchasing of property, machinery and equipment was MXN 36.4 million compared to MXN 43.4 million a year ago. Net debt was MXN 894.6 million.
Consorcio Ara SAB de CV is a Mexico-based company engaged in the real estate sector. The Companyâs main activities include the design, construction, promotion, leasing and sale of residential properties. Its housing portfolio is divided into four business lines: Progressive, Social Interest, Medium and Residential. The Company is also involved in the development, management and leasing of supermarkets and shopping centers located in the State of Mexico, Baja California and Veracruz. The Company operates through a number of subsidiaries, such as Consorcio de Ingenieria Integral SA de CV, Proyectos Urbanos Ecologicos SA de CV, Constructora y Urbanizadora Ara SA de CV, Asesoria Tecnica y Administrativa Gavi SA de CV, Promotora y Desarrolladora de Centros Comerciales SA de CV, Desarrollos Inmobiliarios Turisticos Ara SA de CV and Inmobiliaria el Globo SA de CV.
CONSORCIO ARA, S. A. B. DE C. V. 
