Sare Holding, S.A.B. De C.V Announces Earnings Results for the Second Quarter and First Half of 2017; Provides Earnings Guidance for the Year 2017
For the six months, the company reported revenue was MXN 193,737,000 compared with MXN 181,951,000 a year ago. Operating income was MXN 12,463,000 compared with MXN 690,000 a year ago. Loss before tax was MXN 70,244,000 compared with MXN 23,811,000 a year ago. Net loss was MXN 50,646,000 compared with MXN 17,168,000 a year ago. Net cash flows from operating activities were MXN 45,737,000 compared with MXN 125,858,000 a year ago. EBITDA was MXN 17,979,000 compared with LBITDA was MXN 9,970,000 a year ago. Free operating cash flow was MXN 49 million compared with MXN 133 million a year ago. Negative free cash flow was MXN 31 million compared with free cash flow was MXN 115 million a year ago.
For the year 2017, the company expected 50% growth in total revenues year-over-year, positive and stable EBITDA generation, A solid financial position, with a healthy leverage.