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Rassini, S.A.B. de C.V. and Subsidiaries Unaudited Results for the Fourth Quarter and Fiscal Year 2016

MEXICO CITY, Feb. 20, 2017 /PRNewswire/ -- Rassini, S.A.B. de C.V. (Mexican Stock Exchange Ticker: RASSINI), a Mexican industrial company engaged in the design and manufacture of suspension and brake components for the automotive industry, announced today its unaudited financial results for the fourth quarter and fiscal year 2016.

Fourth Quarter 2016 Financial Highlights:

  • Net revenue climbed to $4,353 million Mexican pesos.
  • EBITDA reached $821 million Mexican pesos.
  • Net income increased to $201 million Mexican pesos.

Fiscal Year 2016 Financial Highlights:

  • Net revenue rose to $16,340 million Mexican pesos.
  • EBITDA grew to $3,190 million Mexican pesos.
  • Net operating cash flow rose to $2,404 million Mexican pesos.
  • Net income increased to $1,431 million Mexican pesos.
  • Net Debt / annualized EBITDA ratio as of December 31, 2016 was 0.3x.
  • EBITDA / Net Interest Expense ratio as of December 31, 2016 was 10.2x.

Financial Results:

Consolidated

Fiscal Year 2016 Results

(Jan 1- Dec 31)

Fourth Quarter Results

(Oct 1- Dec 31)

2016

(mill. Pesos)

2015

(mill. Pesos)

%
Change

2016

(mill.
Pesos)

2015

(mill.
Pesos)

%
Change

Sales

$16,340

$12,897

27%

$4,353

$3,173

37%

Gross Profit

$4,373

$3,072

42%

$1,146

$777

47%

EBITDA

$3,190

$2,141

49%

$821

$465

77%

Net Income before taxes
and minority interest

$1,935

$1,154

68%

$470

$219

115%

Net Income

$1,431

$884

62%

$201

$109

85%

 

For a complete overview of our financial results, please visit: http://www.rassini.com/en/financial.html.

Conference Call:

Rassini will host a conference call on Tuesday, February 21, 2017 at 9:00 am (U.S. Central Time/Mexico City Time) / 10:00 am (U.S. Eastern Time) to discuss its unaudited fourth quarter and full year financial results and recent business activities.

The conference call may be accessed using the following numbers:

US:

+1-844-759-3792

Mexico:

001-800-926-9157

International:

+1-574-990-9507

Passcode:

69264179

 

Please dial in approximately 10 minutes before the scheduled time of this call.

A replay of the conference call will be available starting from 12:00 pm (U.S. Central Time/Mexico City Time) on February 21, 2017 to 11:00 (U.S. Central Time/Mexico City Time) on February 28, 2017 using the following numbers:

US:

+1-855-859-2056

Mexico:

001-800-926-9113

Passcode:

69264179

 

A presentation deck for the call will be available at: http://www.rassini.com/en/financial.html

RASSINI

Rassini is a leading designer and manufacturer of suspension and brake components for the global automotive industry, mainly focused on original equipment manufacturers (OEMs).

Rassini is the world's largest producer of suspension components for light commercial vehicles as well as the largest fully integrated brakes disc producer in the Americas and has eight manufacturing sites strategically located in Mexico, the US and Brazil, as well as four tech centers located in the same countries.

Suspension products include leaf springs (parabolic and multi-leaf) for light and commercial trucks, coil springs and bushings. The brakes business manufactures rotors, drums, brake assemblies, clutch plates and motor balancers.

Its solid and diversified customer base includes: General Motors, Ford Motor Co., FCA, Nissan, Volkswagen, Toyota, MAN, Scania, Maserati, Mercedes Benz and Daimler among others.

Contact:

Francisco Freyre Servín
Rassini, S.A.B. de C.V.
Tel: (5255) 5229-58-20
E-mail: ffreyre@rassini.com
www.rassini.com

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/rassini-sab-de-cv-and-subsidiaries-unaudited-results-for-the-fourth-quarter-and-fiscal-year-2016-300410224.html