Grupo Cementos de Chihuahua, S.A.B. de C.V. Announces Consolidated and Parent Earnings Results for the First Quarter Ended March 31, 2017
April 24, 2017
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Grupo Cementos de Chihuahua SAB de CV announced consolidated and parent earnings results for the first quarter ended March 31, 2017. For the quarter, on consolidated basis, the company reported net sales of MXN 3,364,520,000 compared with MXN 2,361,500,000 for the same period a year ago. This increase resulted from higher cement volumes in Mexico, and higher cement and ready mix volumes in the United States, reflecting the addition of the newly acquired businesses, a better pricing scenario for cement and concrete in Mexico and cement in the U.S., as well as the effect of the 13.0% depreciation of the peso against the dollar on dollar-denominated sales. Operating income before other expenses, net was MXN 243,804,000 compared with MXN 176,838,000 for the same period a year ago. Operating income was MXN 243,804,000 compared with MXN 146,395,000 for the same period a year ago. Loss before taxes was MXN 49,316,000 compared with MXN 3,077,000 for the same period a year ago. Consolidated net income was MXN 31,635,000 compared with MXN 58,833,000 for the same period a year ago. EBITDA was MXN 661,295,000 compared with MXN 439,468,000 for the same period a year ago. Free cash out flow was MXN 406,090,000 compared with MXN 408,826,000 for the same period a year ago. Capital Expenditure was MXN 175.5 million compared with MXN 462.9 million for the same period a year ago. Interest bearing debt was MXN 12,978.5 million against MXN 7,653.1 million a year ago.
For the quarter, the parent company reported net sales of MXN 166,115,000 compared with MXN 131,015,000 for the same period a year ago. Operating income before other expenses, net was MXN 12,271,000 compared with MXN 9,809,000 for the same period a year ago. Operating income was MXN 12,271,000 compared with MXN 8,120,000 for the same period a year ago. Loss before taxes was MXN 2,203,000 compared with MXN 174,000 for the same period a year ago. Consolidated net income was MXN 1,728,000 compared with MXN 3,261,000 for the same period a year ago. EBITDA was MXN 32,641,000 compared with MXN 24,380,000 for the same period a year ago.
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.
GCC, S.A.B. DE C.V. 
