Rassini, S.A.B. De C.V. Reports Unaudited Consolidated Earning Results for the Second Quarter and Six Months Ended June 30, 2018; Provides Capex Guidance for the Full Year of 2018
July 24, 2018 at 04:37 pm EDT
Share
Rassini, S.A.B. de C.V. reported unaudited consolidated earning results for the second quarter and six months ended June 30, 2018. For the quarter, sales were MXN 4,740 million against MXN 4,489 million reported a year ago. EBITDA was MXN 864 million against MXN 853 million reported a year ago. Net Income before taxes and minority interest was MXN 529 million against MXN 542 million reported a year ago. Net Income was MXN 360 million against MXN 419 million reported a year ago.
For the six months, sales were MXN 9,488 million against MXN 9,369 million reported a year ago. EBITDA was MXN 1,787 million against MXN 1,851 million reported a year ago. Net Income before taxes and minority interest was MXN 1,119 million against MXN 1,140 million reported a year ago. Net Income was MXN 816 million against MXN 876 million reported a year ago.
The company provided capex guidance for the full year of 2018. CapEx, the company is expecting the MXN 60 million for this year including the composite facility. The company mentioned that the MXN 30 million is for maintenance, MXN 15 million is for the composite line and MXN 15 million is for the new materials and productivity improvements.
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.
Rassini, S.A.B. De C.V. Reports Unaudited Consolidated Earning Results for the Second Quarter and Six Months Ended June 30, 2018; Provides Capex Guidance for the Full Year of 2018