Nemak, S. A. B. de C. V. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 13, 2024 at 03:07 pm EST
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Nemak, S. A. B. de C. V. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 1,140.75 million compared to USD 1,117.49 million a year ago. Net loss was USD 30.86 million compared to net income of USD 2.94 million a year ago. Basic loss per share from continuing operations was USD 0.0102 compared to basic earnings per share from continuing operations of USD 0.001 a year ago. Diluted loss per share from continuing operations was USD 0.0102 compared to diluted earnings per share from continuing operations of USD 0.001 a year ago.
For the full year, sales was USD 4,993.36 million compared to USD 4,651.1 million a year ago. Net income was USD 4.37 million compared to USD 50.59 million a year ago. Basic earnings per share from continuing operations was USD 0.0014 compared to USD 0.0166 a year ago. Diluted earnings per share from continuing operations was USD 0.0014 compared to USD 0.0166 a year ago.
Nemak SAB De CV, formerly Tenedora Nemak SA de CV, is a Mexico-based holding company primarily engaged in the automotive industry. The Company specializes in the design, manufacture and distribution of aluminum components for powertrain and body structure applications. Its product portfolio comprises cylinder heads, engine blocks, shock towers, tank cover frames, B-pillars, transmission housings, frame rails, and cross members, among others. The Company operates manufacturing facilities in a range of countries, such as Canada, the United States, Mexico, Brazil, Spain, Germany, Poland, Russia, India and China. Furthermore, Its customers include Audi, BMW, KIA, Ford, Hyundai, Chrysler, Nissan, Volvo, Toyota, as well as Volkswagen, among others. The Company controls a number of subsidiaries, including Modellbau Schonheide GMBH, Camen International Trading Inc, Nemak Canada SA de CV and Nemak Czech Republic Sro, among others. Its parent is ALFA SAB de CV.