Rassini, S.A.B. De C.V. Reports Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2017
October 23, 2017 at 09:29 pm
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Rassini, S.A.B. de C.V. reported consolidated earnings results for the third quarter and nine months ended September 30, 2017. For the quarter, the company reported sales of MXN 4,224 million compared to MXN 4,178 million a year ago. EBITDA was MXN 679 million compared to MXN 782 million a year ago. Net income before taxes and minority interest was of MXN 353 million compared to MXN 450 million a year ago. Net income was MXN 327 million compared to MXN 376 million a year ago. Net debt balance was decreased to $57 million as of the end of the third quarter down from $86 million at the end of the same period in 2016.
For nine months, the company reported sales of MXN 13,593 million compared to MXN 11,987 million a year ago. EBITDA was MXN 2,530 million compared to MXN 2,369 million a year ago. Net income before taxes and minority interest was of MXN 1,493 million compared to MXN 1,466 million a year ago. Net income was MXN 1,203 million or the equivalent to MXN 3.76 per share compared to MXN 1,230 million a year ago. Net operation cash flow rose to MXN 1,768 million.
Rassini SAPI de CV is a Mexico-based company. The Company is dedicated to providing engineering solutions through the design and manufacture of components for suspension, brake and anti-vibration systems for the automotive industry; including urban, family, off-road, sports, luxury and commercial vehicles; both electric motor and internal combustion engine.