Nemak, S. A. B. de C. V. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
October 18, 2022 at 08:36 pm EDT
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Nemak, S. A. B. de C. V. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was MXN 24,664.86 million compared to MXN 17,216.5 million a year ago. Net income was MXN 377.39 million compared to net loss of MXN 575.25 million a year ago. Basic earnings per share from continuing operations was MXN 0.12 compared to basic loss per share from continuing operations of MXN 0.19 a year ago. Diluted earnings per share from continuing operations was MXN 0.12 compared to diluted loss per share from continuing operations of MXN 0.19 a year ago.
For the nine months, sales was MXN 71,873.32 million compared to MXN 57,482.25 million a year ago. Net income was MXN 1,103.25 million compared to MXN 1,136.77 million 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.
NEMAK, S. A. B. DE C. V. 
