Nemak, S. A. B. de C. V. reported unaudited earnings results for the second quarter and six months ended June 30, 2017. For the quarter, the company reported total revenue of $1,165 million against $1,122 million a year ago. Operating income was $124 million against $142 million a year ago. This result was mainly due to the following factors. First, higher aluminum prices resulted in a negative metal price lag effect previously described, which amounted to approximately $9 million this quarter as aluminum prices increase by 4% in this period. While this negative effect was less than the first quarter of this year, the year-over-year comparison is difficult due to a positive metal lag of a similar amount in the second quarter of 2016. Net income was $78 million against $77 million a year ago. EBITDA was $206 million against $221 million a year ago. CapEX was $88 million against $129 million a year ago.

For the six months, the company reported total revenue of $2,288 million against $2,198 million a year ago. Operating income was $237 million against $276 million a year ago. Net income was $145 million against $174 million a year ago. EBITDA was $396 million against $430 million a year ago. CapEX was $231 million against $260 million a year ago. As of June 30, 2017, the company reported net debt in the amount of $1.4 billion, including Cash and Marketable Securities worth $108 million.

The company revised 2017 guidance. For volume, the company expects 50.4 million equivalent units instead of 51.6 million. Revenue remains unchanged at $4.4 billion because the company expects that lower volumes will be offset by higher aluminum prices. Turning to EBITDA, the company expects $750 million instead of $802 million. And last, the company expects that continued efforts to optimize capital allocation will enable to finish this year with the CapEx of $385 million instead $430 million.