Q3 2020 HIGHLIGHTS
Mexico cement volumes increased 8.1%- Consolidated net sales decreased 6.8%, to
US$281.1 million - EBITDA increased 3.7% to
US$99.9 million , with a 35.5% EBITDA margin; a 3.6 percentage points increase - Free cash flow totaled
US$104.2 million , with a 104% conversion rate from EBITDA - Net leverage (net debt/EBITDA) ratio dropped to 0.61x as of
September 2020 - Earnings per share increased 8.3% year-on-year, to
US$0.1587 - A dividend of Ps. 0.94 per share was declared in the Annual Shareholders’ Meeting; 50% of it was paid on
August 7 , and the remaining dividend will be paid onJanuary 11, 2021
Q3 20 | Q3 19 | Q3 20 vs. Q3 19 | 9M 20 | 9M 19 | 9M 20 vs. 9M 19 | |||||||
Net sales | 281.1 | 301.7 | -6.8 | % | 705.3 | 705.5 | 0.0 | % | ||||
Operating income before other expenses, net | 75.7 | 69.7 | 8.7 | % | 154.7 | 123.2 | 25.6 | % | ||||
EBITDA* | 99.9 | 96.4 | 3.7 | % | 227.0 | 205.6 | 10.4 | % | ||||
EBITDA margin | 35.5 | % | 31.9 | % | 32.2 | % | 29.1 | % | ||||
Free cash flow** | 104.2 | 90.6 | 15.0 | % | 151.2 | 54.1 | 179.5 | % | ||||
Net income | 52.6 | 48.8 | 7.8 | % | 102.2 | 77.8 | 31.4 | % | ||||
Earnings per share (US$)*** | 0.1587 | 0.1466 | 8.3 | % | 0.3082 | 0.2339 | 31.8 | % |
*EBITDA: operating income before other expenses + depreciation and amortization
**Free cash flow before growth and strategic CapEx
***Earnings per share calculated based on average number of outstanding shares during the quarter
We experienced mixed demand for our products in most of our markets in
Looking forward, our backlog remains encouraging, while overall macro conditions show mixed signs, and short-term uncertainty prevails, mainly COVID-19 outbreaks and weather. Therefore, our goal is to maintain our financial strength, keep people safe and employed, and to continue to serve GCC’s life blood - our invaluable customers.”
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ABOUT GCC
GCC is a leading supplier and producer of cement, concrete, aggregates and construction‐related services in
Founded in 1941, the Company’s shares are listed on the
Forward Looking Statements
This earnings report may contain forward-looking statements. All statements that are not clearly historical in nature are forward-looking, and the words “anticipate,” “believe,” “expect,” “estimate,” “intend,” “project” and similar expressions are generally intended to identify forward-looking statements. These statements are subject to risks and uncertainties including, among others, changes in macroeconomic, political, legal, public health crises including COVID-19, governmental or business conditions in the markets where GCC operates; changes in interest rates, inflation rates and currency exchange rates; performance of the construction industry; and pricing, business strategy and other factors. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may differ materially from the beliefs, projections and estimates described herein. GCC assumes no obligation to update the information contained in this press release. Due to rounding, numbers presented throughout this document may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures.
For further information, contact:
GCC Investor Relations: | |
+52 (614) 442 3176 + 1 (303) 739 5943 rmartinezg@gcc.com |
Source:
2020 GlobeNewswire, Inc., source