Grupo Carso Announces Consolidated Earnings Results for the First Quarter of 2018
April 24, 2018
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Grupo Carso announced consolidated earnings results for the first quarter of 2018. For the quarter, the company reported revenues of MXN 21,439.4 million against MXN 22,164.4 million a year ago. The main reduction was in Carso Infraestructura y Construcción (CICSA), with a 14.9% decrease in sales due to lower consolidating infrastructure projects. EBITDA was MXN 2,831.4 million against MXN 3,253.7 million a year ago. Controlling net income was MXN 1,456.8 million against MXN 1,601.0 million a year ago. Operating income was MXN 2,368.9 million against MXN 2,694.6 million a year ago. Total debt as of March 31, 2018 was MXN 10,100 MM, decreasing 1.2% compared to the debt at the end of December 2017. Net debt was MXN 4,999 MM, compared to a net debt of MXN 5,118 MM as of December 31, 2017.
Grupo Carso, S.A.B. de C.V. is a holding company. The Company holds interests in various companies, which operate in the industrial, retail, infrastructure and construction, and energy sectors. The Company's segments include Retail, Industrial, Infrastructure and Construction, and Carso Energy. The Company's subsidiaries include Grupo Sanborns, S.A.B. de C.V., which operates various retail formats in Mexico; Grupo Condumex, S.A. de C.V., which has a portfolio of products and services focused on meeting the needs of the telecommunications, construction, electricity, energy, automotive and mining industries; Carso Infraestructura y Construccion, S.A. de C.V., which serves the chemical and oil industry, pipeline installations, infrastructure, civil construction and housing developments sectors, and Carso Energy, S.A. de C.V., which holds interests in various companies in the sector of exploration and production of oil, gas and other hydrocarbons, and electricity.
GRUPO CARSO, S.A.B. DE C.V. 
