Q1 2020 HIGHLIGHTS
U.S. cement and ready mix volumes increased 12.5% and 21.2% respectively- Consolidated net sales increased 11%, to
US$ 181.4 million - EBITDA increased 18.4% to
US$ 45.3 million , with a 25% EBITDA margin; a 1.6 percentage points point increase - Free cash flow totaled
US$ 11.1 million , with a conversion rate from EBITDA of 25% - Net leverage (net debt/EBITDA) ratio stood at 1.12x as of
March 2020 - Earnings per share increased 321.6% year-on-year, to
US$ 0.0495
Q1-20 | Q1-19 | Q1-20 vs. Q1-19 | |
Net sales | 181.4 | 163.4 | 11.0% |
Operating income before other expenses, net | 20.6 | 11.0 | 87.3% |
EBITDA* | 45.3 | 38.3 | 18.4% |
EBITDA margin | 25.0% | 23.4% | |
Free cash flow** | 11.1 | (22.4) | n.m. |
Net income | 16.5 | 3.9 | 321.7% |
Earnings per share (US$)*** | 0.0495 | 0.0117 | 321.6% |
*EBITDA: operating income before other expenses + depreciation and amortization.
**Free cash flow before expansion CapEx.
***Earnings per share calculated based on average number of outstanding shares during the quarter
Both our divisions delivered strong results in the first quarter of the year, as the economic impacts of the pandemic weren’t fully realized until late in the quarter. All of our operations are running at a steady pace, but we do expect an impact on our results in the quarters ahead."
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ABOUT GCC
GCC is a leading supplier and producer of cement, concrete, aggregates and construction‐related services in
Founded in 1941, the Company’s shares are listed on the
Forward Looking Statements
This earnings report may contain forward-looking statements. All statements that are not clearly historical in nature are forward-looking, and the words “anticipate,” “believe,” “expect,” “estimate,” “intend,” “project” and similar expressions are generally intended to identify forward-looking statements. These statements are subject to risks and uncertainties including, among others, changes in macroeconomic, political, legal, public health crises including COVID-19, governmental or business conditions in the markets where GCC operates; changes in interest rates, inflation rates and currency exchange rates; performance of the construction industry; and pricing, business strategy and other factors. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may differ materially from the beliefs, projections, and estimates described herein. GCC assumes no obligation to update the information contained in this press release.
For further information, contact:
GCC Investor Relations: |
+52 (614) 442 3176 |
+ 1 (303) 739 5943 |
rmartinezg@gcc.com |
Source:
2020 GlobeNewswire, Inc., source