Elementia, S.A. de C.V. announced unaudited consolidated earnings results for the second quarter and first half ended June 30, 2018. For the quarter, the company reported net sales of MXN 7,294 million against MXN 6,515 million a year ago. Operating income was MXN 601 million against MXN 785 million a year ago. EBITDA was MXN 1,061 million against MXN 1,188 a year ago. Net loss consolidated was MXN 285 million compared to net income consolidated of MXN 285 million a year ago. Negative free cash flow was MXN 112 million compared to MXN 77 million a year ago. Cash flow before CapEx reached MXN 1.68 billion in the first six months of 2018.

For the six months, the company reported net sales of MXN 14,199 million against MXN 13,062 million a year ago. Operating income was MXN 1,089 million against MXN 1,301 million a year ago. Income before income taxes was MXN 257 million compared to MXN 923 million a year ago. Net loss consolidated was MXN 134 million compared to net income consolidated of MXN 308 million a year ago. EBITDA was MXN 1,984 million compared to MXN 2,140 million a year ago. Net cash flow provided by operating activities was MXN 1,676 million compared to net cash flow used in operating activities of MXN 25 million a year ago. Acquisition of property, machinery and equipment MXN 987 million compared to MXN 1,281 million a year ago. Organic CAPEX was MXN 859 million compared to MXN 715 million a year ago. Net debt was MXN 14,951 million as at June 2018.

For the full year, the company expects a very similar EBITDA to the ones achieved in 2017. The company expecting high single-digit EBITDA growth for 2018 that will not fully compensate the decline of Latin American region. The company anticipates these MXN 20 million CapEx project might become the first of a broader business model in the region. The company expects full year 2018 EBITDA below 2017.