Sare Holding, S.A.B. de C.V. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended 2017; Provides Earnings Guidance for the Year 2018
For the year, the company reported revenue of MXN 314,463,000 compared with MXN 390,397,000 a year ago. Operating loss was MXN 18,785,000 compared with operating income of MXN 6,197,000 a year ago. Loss before tax was MXN 130,417,000 compared with MXN 113,780,000 a year ago. Consolidated net loss was MXN 101,398,000 compared with MXN 202,085,000 a year ago. Net cash flow used in operating activities was MXN 69,274,000 compared with net cash flow from operating activities of MXN 102,031,000 a year ago. Interest-bearing debt as of December 31, 2017 totaled MXN 692 million, a 5.6% decrease against the MXN 734 million recorded in the same period last year. LBITDA was MXN 18,286,000 compared with EBITDA of MXN 6,921,000 a year ago.
For the year 2018, the company is anticipating the following: stable consolidated revenue, prioritizing profitability over volume of units sold; a positive and stable EBITDA; and a solid financial position, maintaining a healthy level of leverage.