Nemak, S. A. B. de C. V. Reports Earnings and Production Results for the First Quarter of 2017
April 24, 2017 at 10:28 pm EDT
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Nemak, S. A. B. de C. V. reported earnings and production results for the first quarter of 2017. For the quarter, the company reported volumes of 13.2 million equivalent units against 12.9 million equivalent units a year ago.
For the quarter, the company reported revenue of $1,123 million against $1,076 million a year ago. EBITDA was $190 million against $209 million a year ago. Capex was $143 million against $131 million a year ago. Net income was $67 million against $97 million a year ago. Operating income was $113 million against $134 million a year ago. Net debt as at the end of period was $1.349 million against $1,327 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.