Promotora Ambiental SAB de CV Announces Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2012
February 26, 2013
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Promotora Ambiental SAB de CV announced consolidated earnings results for the fourth quarter and full year ended December 31, 2012. For the quarter, the company reported revenues of MXN 656,152,000 against MXN 624,257,000 for the same period a year ago. Operating income after other income and expenses, net was MXN 34,990,000 against MXN 26,130,000 for the same period a year ago. Income before tax was MXN 30,915,000 against loss before tax of MXN 4,342,000 for the same period a year ago. Net income was MXN 104,000 against MXN 180,350,000 for the same period a year ago. Total EBITDA was MXN 129,665,000 against MXN 107,263,000 for the same period a year ago. EBIT totaled MXN 44 million, compared to a consolidated EBIT of MXN 24 million posted for the same period of 2011. Net loss of controlling interest was MXN 4,999,000 against net income of controlling interest of MXN 182,070,000 for the same period a year ago.
For the full year, the company reported revenues of MXN 2,722,167,000 against MXN 2,447,725,000 for the same period a year ago. Operating income after other income and expenses, net was MXN 159,903,000 against MXN 134,369,000 for the same period a year ago. Income before tax was MXN 135,923,000 against MXN 24,604,000 for the same period a year ago. Net income was MXN 74,888,000 against MXN 134,287,000 for the same period a year ago. Net cash provided by operating activities was MXN 420,073,000 against MXN 486,519,000 for the same period a year ago. Acquisition of fixed assets was MXN 321,353,000 against MXN 237,709,000 for the same period a year ago. Total EBITDA was MXN 562,665,000 against MXN 486,189,000 for the same period a year ago, driven by waste management and other businesses. As of December 31, 2012, net debt was MXN 456 million. EBIT as of 2012 reached MXN 185 million, an increase of 25.9% year-over-year, driven by an improvement in the results of waste management and other businesses, combined with a reduction in operating expenses. Net income of controlling interest was MXN 61,608,000 against MXN 145,864,000 for the same period a year ago.
Promotora Ambiental SAB de CV (PASA) is a Mexico-based company engaged, through its subsidiaries, in the provision of environmental services. Its activities are structured in four areas: Waste Management Services, which includes private and residential collection, as well as operation of landfills; Water and Biotechnology, which provides such services as sewage, wastewater treatment and distribution of potable water; Oil Industry Services, which consists of the development and implementation of logistics for the management and treatment of waste resulting from well drilling activities, and Ecomar, which is mainly dedicated to the dismantling of obsolete ships. The Company owns such subsidiaries as Altya SA de CV, Gen Industrial SA de CV, Professional Recycling SA de CV, and Recolectora de Desechos y Residuos King Kong SA de CV, among others. In December, 2013, the Company acquired a 70% stake in Enviroronmental Management Group, Inc.
PROMOTORA AMBIENTAL, S.A.B. DE C.V. 
