Servicios Corporativos Javer, S.A.B. de C.V. Reports Earnings Results for the First Quarter Ended March 31, 2018; Reiterates Earnings Guidance for the Year of 2018
April 24, 2018 at 04:05 am IST
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Servicios Corporativos Javer, S.A.B. de C.V. reported earnings results for the first quarter ended March 31, 2018. For the quarter, the company's Net Revenues increased 19.0% to MXN 1,985.0 million in compared to MXN 1,667.8 million a year ago, primarily due to the sales mix improvement and a higher average sales price. EBITDA grew 21.6% to MXN 170.2 million, compared to MXN 140.0 million a year ago, as a result of volume growth and the improvement in sales mix and prices. Net Result was MXN 58.2 million compared to MXN 155.5 million a year ago, as the peso appreciation resulted in FX gains of MXN 247.8 million a year ago, compared to the MXN 50.2 million FX gains reported in first quarter of 2018. Income per share was 0.21 compared to 0.56 a year ago. FCF was MXN (118.2) million. This result was mainly due to a greater investment in inventories, higher tax payments and interest expense, as well as, the delay in the collection process due to the vacation period during the last week of March.
For the year 2018, the company reiterate its guidance for the year: double digits growth in revenues, between 5.0% and 7.5% in EBITDA and positive generation of free cash flow.
Servicios Corporativos Javer SAB de CV is a Mexico-based company primarily engaged in the homebuilding sectors. The Company specializes in the design, construction, promotion and sale of housing developments, which are mainly located in the northeastern region of Mexico. The Company's products portfolio comprises single-family and multifamily real estate properties that are structured in three divisions: Affordable Entry-Level, Middle-Income and Residential. The Company also owns land in the states of Nuevo Leon, Jalisco, Aguascalientes, Tamaulipas, Queretaro and Estado de Mexico, Mexico. Moreover, the Company is active in the promotion, development and sale of commercial land plots.
Servicios Corporativos Javer, S.A.B. de C.V. Reports Earnings Results for the First Quarter Ended March 31, 2018; Reiterates Earnings Guidance for the Year of 2018