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3Q24 Highlights

(In USD millions)

398.2


Net sales

137.5


Operating income

162.1


EBITDA

40.7%


EBITDA margin


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Quarterly reports

Financial statements

Mexican pesos U.S. dollars
2017 2018 2019 2020 2021 2022 2023
Total assets 1,907,890 1,902,532 2,057,634 2,135,989 2,222,591 2,433,831 2,813,093
Current assets 495,686 534,152 653,718 830,136 953,859 1,107,379 1,331,178
Cash and cash equivalents 232,933 251,818 350,523 562,144 682,962 826,227 958,725
Trade accounts receivable, net 91,338 78,881 92,345 75,214 89,279 84,786 142,029
Other accounts receivable 42,945 59,311 57,637 44,983 34,103 31,826 30,283
Due from related parties 2,726 1,417 2,526 2,530 3,196 5,700 2,216
Inventories 79,033 98,215 102,810 96,522 95,692 108,041 142,020
Urban land 34,179 33,963 35,478 36,216 35,775 38,060 41,447
Prepaid expenses 12,532 10,547 12,399 12,527 12,852 12,739 14,029
 
Non-current assets 1,412,204 1,368,380 1,403,916 1,305,853 1,268,732 1,326,452 1,481,915
Investment in associates 9,955 15,548 18,313 19,090 21,888 23,050 30,174
Property, machinery and equipment, net 936,387 1,027,760 1,015,909 955,592 934,110 1,002,294 1,147,881
Long term right of use assets - - 40,531 27,954 19,803 21,223 27,020
Goodwill 387,461 246,884 240,545 212,598 212,591 212,604 212,598
Intangible assets, net 60,790 73,251 68,508 66,766 62,751 57,423 50,448
Other assets 5,430 4,937 20,110 23,853 17,589 9,858 13,754
Deferred taxes 12181 - - - - - -
 
Total liabilities 978,927 930,316 983,097 960,847 911,609 1,010,019 1,048,842
Short-term liabilities 182,223 162,223 206,907 286,913 380,179 289,487 300,664
Current portion of long term financial debt 17,150 4,400 25,425 92,000 176,000 1 -
Trade accounts payable 89,232 83,223 83,625 89,079 111,873 149,604 155,278
Due to related parties 1,435 1,204 1,164 2,205 2,702 2,547 989
Short-term employee benefits 25,427 27,952 31,852 35,639 39,007 37,127 47,580
Accrued expenses and taxes other than income taxes 43,972 42,267 41,402 47,477 34,078 88,190 83,621
Provisions 5,007 3,177 2,651 2,116 2,167 3,009 3,753
Short-term right of use liabilities - - 20,788 18,397 14,352 9,010 9,443
 
Long-term liabilities 796,704 768,093 776,190 673,934 531,430 720,532 748,178
Long-term financial debt 665,751 645,936 624,566 536,851 363,383 496,684 496,986
Long-term right of use liabilities - - 20,661 8,114 2,057 12,114 18,419
Employee benefits 40,072 35,536 45,944 49,937 39,830 31,479 33,186
Provision for environmental restoration 10,208 21,969 22,677 18,921 23,247 25,781 25,797
Other long-term liabilities 734 1,408 267 576 2,423 1,941 -
Income taxes payable 29,308 19,458 11,132 4,302 676 - -
Deferred income taxes 50,631 43,786 50,943 55,233 99,814 152,533 173,790
 
Total stockholders' equity 928,963 972,216 1,074,537 1,175,142 1,310,982 1,423,812 1,764,251
Controlling interest 928,933 972,184 1,074,504 1,174,512 1,310,351 1,422,851 1,763,283
Capital stock 32,070 32,068 32,076 32,070 32,070 32,070 32,070
Additional paid-in capital 148,365 148,365 148,365 148,365 148,365 148,365 148,365
Legal reserves 22,659 22,659 22,659 22,659 22,659 22,659 22,659
Retained earnings 917,097 986,796 1,040,717 1,138,394 1,251,028 1,359,143 1,463,341
Consolidated net income 83,569 65,037 116,733 129,706 151,852 140,258 295,462
Other items of comprehensive income (274,827) (282,741) (286,046) (296,682) (295,623) (279,644) (198,614)
Non-controlling interest 30 32 33 630 631 961 968
 
Total liabilities and equity 1,907,890 1,902,532 2,057,634 2,135,989 2,222,591 2,433,831 2,813,093
U.S. dollars
2017 2018 2019 2020 2021 2022 2023
Net sales 824,104 883,230 934,115 937,750 1,038,804 1,168,319 1,363,917
USA sales - 646,748 681,863 693,139 750,371 840,599 938,322
Mexico sales - 236,482 252,252 244,611 288,433 327,719 425,595
Cost of sales 585,479 637,864 667,201 647,890 707,484 803,844 862,205
 
Gross profit 238,625 245,366 266,914 289,860 331,320 364,475 501,712
 
Selling, general and administrative expenses 77,829 75,530 83,348 78,524 90,236 96,131 119,405
 
Operating income before other expenses, net 160,796 169,836 183,566 211,336 241,084 268,344 382,307
 
Other expenses 16,238 8,341 7,289 23,640 9,507 50,622 6,639
 
Operating income 144,558 161,495 176,277 187,696 231,577 217,722 375,668
 
Financial income 3,530 6,461 8,849 6,363 7,228 22,124 57,967
Financial expenses (57,341) (50,577) (41,002) (35,814) (35,397) (38,611) (28,109)
Exchange gain (loss), net (2,019) (342) (4,141) 944 333 (1,780) (4,529)
Net financing expenses (55,830) (44,458) (36,294) (28,507) (27,836) (18,267) 25,329
 
Share of profit of associates and joint venture 2,090 4,749 2,163 1,703 2,990 3,284 3,300
 
Income before income taxes taxes 90,818 121,786 142,146 160,892 206,731 202,739 404,297
 
Income taxes 12,072 16,692 25,409 31,185 54,877 62,478 108,832
 
Income before discontinued operations 78,746 105,094 116,737 129,707 151,854 140,261 295,465
 
Loss from discontinued operations 4,967 (40,055) - - - - -
 
Consolidated net income 83,713 65,039 116,737 129,707 151,854 140,261 295,462
Controlling interest 83,569 65,037 116,733 129,706 151,852 140,258 295,310
Non-controlling interest 144 2 4 1 2 3 3
EBITDA 239,940 256,361 291,972 308,281 337,678 361,591 471,536
U.S. dollars
2017 2018 2019 2020 2021 2022 2023
Operating income before other expenses 160.8 169.8 183.6 211.3 241.1 268.3 382.3
Depreciation and amortization 79.0 86.5 108.4 96.9 96.6 93.2 89.2
EBITDA 239.8 256.4 292.0 308.3 337.7 361.6 471.5
Interest income (expense) (61.5) (48.1) (24.6) (21.2) (16.1) (5.2) 36.9
(Increase) Decrease in working capital (4.7) (11.0) (19.0) 26.6 8.4 25.2 (70.5)
Taxes (12.7) (15.9) (21.2) (15.3) (11.8) (19.9) (73.5)
Other (14.0) (23.9) (27.8) (1.9) (7.9) (26.5) (52.6)
Operating leases (IFRS 16 effect) - - (20.8) (19.0) (17.9) (14.9) (12.1)
Flow from continued operations, net 146.9 157.4 178.6 277.4 292.5 320.2 298.5
Cash flow of discontinued operations 9.7 1.7 - - - - -
Operating cash flow 156.6 159.1 178.6 277.4 292.5 320.2 298.5
Capital expenditures (45.0) (52.8) (40.7) (26.8) (48.7) (34.9) (64.8)
Free cash flow 111.6 106.4 137.9 250.6 243.7 285.3 233.7
Growth capital expenditures and other related expenses (30.3) (52.3) (24.0) (5.6) (2.8) (61.5) (98.6)
Repurchase shares (net) - - (1.2) (5.2) (0.1) (26.4) (13.2)
Assets sold - 118.5 1.2 2.6 - - -
Assets acquired - (107.5) - - - - -
Debt amortizations net (3.8) (34.9) (4.4) (25.4) (92.0) (40.0) -
Dividends paid (11.6) (12.6) (13.9) (7.0) (24.5) (19.1) (24.6)
FX effect 3.1 1.3 3.2 1.7 (3.5) 5.0 35.2
Initial cash balance 164.0 232.9 251.8 350.5 562.1 683.0 826.2
Final cash balance 232.9 251.8 350.5 562.1 683.0 826.2 958.7

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