Consorcio Ara, S. A. B. De C. V. Reports Earnings Results for the First Quarter Ended March 31, 2017
April 25, 2017
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Consorcio ARA, S. A. B. de C. V. reported earnings results for the first quarter ended March 31, 2017. For the quarter, the company reported revenues of MXN 1,754.7 million compared to MXN 1,697.2 million a year ago. Income from operations was MXN 197.0 million compared to MXN 197.4 million a year ago. Income before income taxes was MXN 211.8 million compared to MXN 228.1 million a year ago. Net income was MXN 150.3 million compared to MXN 161.8 million a year ago. EBITDA was MXN 257.5 million compared to MXN 252.1 million a year ago. Negative free cash flow to the firm of MXN 45.1 million compared to free cash flow of MXN 60.8 million a year ago. Net debt as at March 31, 2017 was MXN 952.7 million compared to net debt as at March 31, 2016, of MXN 858.7 million. Net cash used in operating activities was MXN 57.2 million compared to net cash provided by operating activities was MXN 75.1 million a year ago. Purchasing of property, machinery and equipment was MXN 3.0 million compared to MXN 13.0 million a year ago.
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. 
