MEXICO CITY / ACCESSWIRE / July 22, 2019 / Elementia, S.A.B. de C.V. (BMV: ELEMENT*) (“the Company”, or “Elementia”) announced today its financial and operating results for the second quarter (“2Q19”). Figures in this report are unaudited and have been prepared in accordance with International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB). Figures are stated in nominal Mexican pesos ($).
• During 2Q19, Elementia reported 9% and 10% declines in consolidated revenues and EBITDA, respectively.
- These results reflect an EBITDA net increase of 93 million from 1Q19, or 11%, mainly from our Cement Business in USA.
• The spin off process continues; the Shareholders’ Meeting held on July 15th approved the points to be carried out and we expect it will be executed by the end of 3Q19 or beginning of 4Q19.
• Leverage ratio was 3.68x in 2Q19.
The Company’s strategic focus for 2019 will be based on the following points:
|1) Cement U.S. – stabilization and growth||• Progress according to plans: EBITDA173% YoY|
|2) Building Systems U.S. – stabilization and growth||• Progress according to plans: EBITDA 7% YoY|
|3) Building Systems LatAm – return to profitability||• Progress according to plans: EBITDA175% YoY|
|4) Metal Products – stabilization, return to profitability and
generation of cash flow
|• In progress, target goal 4Q19: EBITDA (77%) YoY|
Elementia’s 2Q19 earnings conference call will take place on July 23, 2019. Dial-in information can be found in the annexes of this document. The report, transcript and audio of the results can be downloaded at www.elementia.com.
Operating and financial highlights
For a full version of this earnings release with financial statements, go to: https://www.elementia.com/web/portal-corporativo/reporte-trimestral
Alfonso Molina Romo
SOURCE: Elementia (BMV: ELEMENT*)
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