Grupo Cementos de Chihuahua, S.A.B. de C.V. Reports Consolidated Earnings Results for the First Quarter Ended March 2018
April 24, 2018 at 05:15 pm EDT
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Grupo Cementos de Chihuahua, S.A.B. de C.V. reported consolidated earnings results for the first quarter ended March 2018. For the quarter, net sales were $188.7 million against $166.1 million a year ago. Operating income before other expenses, net was $25.4 million against $12.3 million a year ago. Operating income was $25.246 million compared to $12.271 million a year ago. Income before taxes was $14.508 million compared to loss of $2.203 million a year ago. EBITDA was $45.9 million against $32.6 million a year ago. Consolidated net income was $11.3 million against $1.7 million a year ago. The increase was the result of higher operating income before other expenses and reductions in financial expenses, which were partially offset by higher taxes. Earnings per share were $0.034 against $0.005 a year ago. Operating cash inflow was $4.3 million against outflow of $14.7 million a year ago. Maintenance Capex was $14.3 million against $7.9 million a year ago. Free cash outflow was $10.3 million against $22.7 million a year ago. Interest-Bearing Debt as of March 31, 2018 totaled $694.9 million, based on contractual balances, 0.7% lower than the level as of March 31, 2017.
GCC SAB de CV, formerly known as Grupo Cementos de Chihuahua SAB de CV, is a Mexico-based company primarily engaged in the construction materials sector. The Company foocuses on the production and marketing of cement and other related building materials. The Companyâs product portfolio includes Portland grey cements, ready-mixed concrete, gypsum, additives and limestone aggregates, as well as such prefabricated products as walls, architectural concrete blocks and paving stones, among others. The Company also offers technical support and assistance for the installation of its prefabricated structures. The Company operates in Mexico and the United States, through such subsidiaries as GCC Comercial SA de CV, GCC Concreto SA de CV, GCC Rio Grande Inc, GCC Dacotah Inc, GCC Alliance Concrete Inc, Mid Continent Concrete Inc and Consolidated Ready Mix Inc.