Grupo Sanborns, S.A.B. de C.V. Reports Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2018; Provides Capital Expenditure Guidance for the Year of 2018
For the six months, the company reported total revenues of MXN 23,262 million compared to MXN 22,738 million a year ago. Operating income was MXN 1,930 million compared to MXN 2,167 million a year ago. Income before taxes was MXN 2,016 million compared to MXN 2,286 million a year ago. Net income was MXN 1,448 million compared to MXN 1,695 million a year ago. Profit attributable to owners of parent company was MXN 1,372 million compared to MXN 1,610 million a year ago. EBITDA was MXN 2,538 million compared to MXN 2,794 million a year ago. Investments in fixed assets totaled MXN 768 million, amount that was 5.9% higher than MXN 725 million in the same period of the previous year.
The estimated CapEx for 2018 is approximately MXN 2,300 million, for the opening of 15 new stores (three Sears, three Sanborns and nine iShop), expansions and renovations.