Consorcio ARA, S. A. B. de C. V. Announces Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016; Provides Earnings Guidance for the Full Year 2017
February 22, 2017
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Consorcio ARA, S. A. B. de C. V. announced earnings results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company reported Revenue was MXN 2,071.2 million against MXN 1,748.3 million a year ago. Income from operations was MXN 255.6 million against MXN 202.2 million a year ago. Income before Income taxes was MXN 271.7 million against MXN 216.5 million a year ago. Net income was MXN 212.0 million against MXN 163.0 million a year ago. EBITDA was MXN 303.0 million against MXN 242.3 million a year ago.
For the year, the company reported Revenue was MXN 7,632.5 million against MXN 6,843.8 million a year ago. Income from operations was MXN 914.4 million against MXN 777.7 million a year ago. Income before Income taxes was MXN 1,009.9 million against MXN 839.9 million a year ago. Net income was MXN 735.6 million against MXN 599.4 million a year ago. EBITDA was MXN 1,115.6 million against MXN 978.9 million a year ago. Net cash provided by operating activities was MXN 269.5 million against MXN 445.1 million a year ago. Purchasing of property, machinery and equipment was MXN 50.4 million against MXN 59.6 million a year ago. Net debt as of December 31, 2016 was MXN 847.2 million against MXN 885.7 million as of December 31, 2015.
For 2017, the company estimates revenue growth of around 6% and net profit growth of around 8%, along with positive free cash flow to the firm of about MXN 450 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. Announces Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016; Provides Earnings Guidance for the Full Year 2017
CONSORCIO ARA, S. A. B. DE C. V. 
