ALFA S.A.B. DE C.V. 
By
Monterrey, N.L., Mexico.
Monterrey, N.L., Mexico. February 12, 2013.- ALFA, S.A.B. de C.V. (ALFA), one of Mexico's leading industrial companies, announced today unaudited financial results for the three-month period ended December 31, 2012 (4Q12). Revenues grew 4% year-on-year, while EBITDA was 22% higher than the same period in the prior year. Market trends were positive for the autoparts, food, telecommunication and hydrocarbons businesses, while petrochemicals continued to face volatile industry conditions, especially in Asia.
"Our companies performed solidly during the quarter and throughout the year," said Alvaro Fernandez, ALFA's President. "Revenues grew on the back of strong demand, and margins were healthy in most of our companies. In the petrochemicals business, our high exposure to the North American consumer sectors helped to partially offset the effect of challenging dynamics in the export markets."
During 4Q12, capital expenditures totaled U.S. $234 million. Funds were used for the cogeneration project at Alpek, and for the upgrade of existing production and distribution facilities across ALFA. Strong cash flow generation in the quarter allowed ALFA to reduce net debt, further improving its financial condition. At the end of the year, Net Debt to EBITDA and Interest Coverage ratios were 1.6 and 6.4 times, respectively.
ALFA reported Majority Net Income in the amount of U.S. $115 million, which favorably compares to the U.S. $72 million in 4Q11. The increase reflects improvements in the operating and financial performance of the ALFA companies.
Selected Financial Information | |||||||||
Ch.%
|
Ch.%
|
YTD
|
YTD
|
YTD
| |||||
4Q12
|
4Q11
|
3Q12
|
vs. 4Q11
|
vs. 3Q12
|
'12
|
'11
|
% Chg.
| ||
| Consolidated Revenues |
3,691
|
3,543
|
3,837
|
4
|
(4)
|
15,152
|
14,746
|
3
| |
| Alpek | 1,674 |
1,724 | 1,795 | (3) | (7) | 7,277 |
7,319 |
(1) | |
| Nemak |
| 870 | 1,043 | 15 | (4) | 3,891 | 3,602 | 8 | |
| Sigma |
| 815 | 863 | 8 | 2 | 3,443 | 3,308 | 4 | |
| Alestra |
| 87 | 87 | 1 | 1 | 351 | 379 | (7) | |
| Newpek |
| 18 | 24 | 52 | 16 | 93 | 45 | 106 | |
Consolidated EBITDA |
| 355 | 476 | 22 | (9) | 1,854 | 1,623 | 14 | |
| Alpek |
| 167 | 190 | (16) | (26) | 728 | 777 | (6) | |
| Nemak |
| 87 | 128 | 46 | (1) | 506 | 372 | 36 | |
| Sigma |
| 98 | 123 | 24 | (1) | 470 | 390 | 20 | |
| Alestra |
| 28 | 32 | 15 | 1 | 137 | 127 | 8 | |
| Newpek |
| 12 | 18 | 56 | 2 | 66 | 30 | 122 | |
| Majority Net Income |
| 72 | 211 | 60 | (45) | 681 | 394 | 73 | |
| Capex & Acquisitions |
| 199 | 135 | 18 | 73 | 874 | 1,362 | (36) | |
| Net Debt |
| 3,641 | 2,999 | (21) | (4) | 2,878 | 3,641 | (21) | |
| Net Debt to LTM EBITDA* |
| 2.2 | 1.7 |
1.6 |
2.2 | ||||
| Interest Coverage* |
| 5.5 | 6.4 |
6.4 |
5.5 | ||||
| * LTM: last 12 months. | |||||||||
ALFA comprises five business groups: Alpek (petrochemicals), Nemak (high
