Quarterly reports

Financial statements

Mexican pesos U.S. dollars
2013 2014 2015 2016 2017 2018 2019
Total assets 21,766,908 24,229,647 26,974,782 1,864,412 1,907,890 1,902,532 2,057,861
Current assets 4,174,360 5,221,020 6,332,520 396,638 495,686 534,152 655,991
Cash and cash equivalents 1,261,600 1,786,656 2,522,835 163,851 232,933 251,818 350,523
Trade accounts receivable, net 948,603 1,027,499 1,194,643 73,260 91,338 78,881 92,345
Other accounts receivable 286,180 517,991 653,650 39,351 42,945 59,311 58,980
Due from related parties 49,301 77,510 29,989 2,564 2,726 1,417 2,610
Inventories 1,543,648 1,635,521 1,735,051 76,647 79,033 96,649 102,810
Urban land - - - 29,824 34,179 35,529 35,478
Prepaid expenses 85,028 175,843 196,352 11,142 12,532 10,547 13,245
 
Non-current assets 17,592,548 19,008,627 20,642,262 1,467,774 1,412,204 1,368,380 1,401,870
Investment in associates 115,219 128,961 137,818 7,756 9,955 15,548 18,313
Property, machinery and equipment, net 11,945,084 12,749,080 13,900,911 925,016 936,387 1,027,760 1,015,909
Long term right of use assets - - - 402,382 387,461 - 40,531
Goodwill 4,205,720 4,733,273 5,534,419 65,172 60,790 246,884 240,545
Intangible assets, net - 102,047 103,303 7,735 5,430 73,251 68,508
Other assets 194,378 139,548 101,974 59,713 12,181 4,937 18,064
Deferred taxes 1,065,980 1,155,718 863,837 - - - -
 
Total liabilities 9,438,738 10,701,271 12,243,257 993,400 978,927 930,316 985,229
Short-term liabilities 1,618,090 2,677,764 2,253,633 154,709 182,223 163,293 195,194
Current portion of long term financial debt 279,014 753,035 115,473 3,850 17,150 4,400 25,425
Trade accounts payable 770,405 984,873 918,428 70,763 89,232 83,223 83,625
Due to related parties 8,067 11,831 14,045 820 1,435 1,204 1,248
Short-term employee benefits 115,550 296,746 332,224 23,745 25,427 29,022 31,852
Accrued expenses and taxes other than income taxes 389,021 560,693 774,233 50,380 43,972 42,267 29,605
Provisions 56,033 70,272 99,230 5,151 5,007 3,177 2,651
Short-term right of use liabilities - - - - - - 20,788
 
Long-term liabilities 7,820,648 8,023,507 9,989,624 838,691 796,704 767,023 790,035
Long-term financial debt 6,066,335 6,084,116 7,413,526 685,795 665,751 645,936 624,566
Long-term right of use liabilities - - - - - - 20,661
Employee benefits 367,794 577,629 649,829 37,190 40,072 34,466 47,574
Provision for environmental restoration 56,355 - - 8,560 10,208 21,969 22,677
Other long-term liabilities - 57,188 74,761 745 734 1,408 244
Income taxes payable 1,068,464 991,720 933,724 39,054 29,308 19,458 12,457
Deferred income taxes 261,700 312,854 917,784 67,347 50,631 43,786 61,856
 
Total stockholders' equity 12,328,170 13,528,376 14,731,525 871,012 928,963 972,216 1,072,632
Controlling interest 12,324,786 13,524,671 14,725,028 870,705 928,933 972,183 1,072,599
Capital stock 396,270 396,270 396,270 32,100 32,070 32,068 32,071
Additional paid-in capital 1,832,940 1,832,940 1,832,940 148,300 148,365 148,365 148,365
Legal reserves 279,998 279,998 279,998 22,700 22,659 22,659 22,659
Retained earnings 9,766,918 9,642,218 10,061,151 818,857 917,097 986,794 1,040,722
Consolidated net income - 561,923 912,699 68,948 83,569 65,037 117,014
Other items of comprehensive income 48,660 811,322 1,241,970 (220,200) (274,827) (282,740) (288,232)
Non-controlling interest 3,384 3,705 6,497 307 30 33 33
 
Total liabilities and equity 21,766,908 24,229,647 26,974,782 1,864,412 1,907,890 1,902,532 2,057,861
U.S. dollars
2013 2014 2015 2016 2017 2018 2019
Net sales 657,231 754,531 752,515 748,486 824,104 883,230 934,115
USA sales 212,189 529,136 535,362 550,575 603,605 647,172 681,863
Mexico sales 445,042 225,395 217,153 197,911 220,499 236,058 252,252
Cost of sales 535,946 579,368 570,687 546,564 585,479 637,864 667,201
 
Gross profit 121,285 175,163 181,828 201,922 238,625 245,366 266,914
 
Selling, general and administrative expenses 72,175 85,211 77,591 75,284 77,829 75,530 83,348
 
Operating income before other expenses, net 49,110 89,952 104,237 126,638 160,796 169,836 183,566
 
Other expenses 18,456 4,647 1,531 6,234 16,238 8,341 7,289
 
Operating income 30,654 85,305 102,706 120,404 144,558 161,495 176,277
 
Financial income (42,195) 1,728 1,703 1,822 3,530 6,461 8,849
Financial expenses 1,443 (42,441) (40,462) (38,849) (57,341) (50,577) (41,002)
Exchange gain (loss), net (224) 634 2,332 1,356 (2,019) (342) (4,141)
Net financing expenses (40,976) (40,079) (36,427) (35,671) (55,830) (44,458) (36,294)
 
Share of profit of associates and joint venture 1,138 1,075 811 1,085 2,090 4,749 2,162
 
Income before income taxes taxes (9,184) 46,302 67,090 85,818 90,818 121,786 142,145
 
Income taxes (13,012) 3,237 10,155 16,685 12,072 16,692 25,127
 
Income before discontinued operations 3,828 43,065 56,935 69,133 78,746 105,094 117,018
 
Loss from discontinued operations - - - - 4,967 (40,055) -
 
Consolidated net income 3,828 43,065 56,935 69,133 83,713 65,039 117,018
Controlling interest 3,839 43,041 56,756 68,948 83,569 65,037 117,014
Non-controlling interest (11) 24 179 185 144 2 4
EBITDA 113,739 153,844 165,081 188,603 239,835 256,361 291,972
U.S. dollars
2013 2014 2015 2016 2017 2018 2019
Operating income before other expenses 48.5 80.8 104.2 126.6 160.8 169.8 183.6
Depreciation and amortization 63.1 57.8 60.8 62.0 79.0 86.5 108.4
EBITDA 111.6 138.6 165.1 188.6 239.8 256.4 292.0
Interest income (expense) (27.2) (30.2) (32.4) (31.0) (61.5) (48.1) (24.6)
(Increase) Decrease in working capital 5.7 10.1 (4.2) (0.2) (4.7) (11.0) (19.0)
Taxes (20.4) (10.8) (6.3) (7.0) (12.7) (15.9) (21.2)
Other (1.6) (4.0) (2.3) (9.8) (14.0) (23.9) (29.0)
Operating leases (IFRS 16 effect) - - - - - - (20.8)
Flow from continued operations, net 68.0 242.2 119.9 140.6 146.9 157.4 177.4
Cash flow of discontinued operations - - - - 9.7 1.7 -
Operating cash flow 68.0 242.2 119.9 140.6 156.6 159.1 177.4
Capital expenditures (32.4) (41.1) (51.5) (33.5) (45.0) (52.8) (40.4)
Free cash flow 35.7 62.5 68.3 107.1 111.6 106.4 137.0
Growth capital expenditures and other related expenses - - - (324.9) (30.3) (52.3) (24.3)
Repurchase shares (net) - - - - - - -
Assets sold - - - - - 118.5 1.2
Assets acquired - - - - - (107.5) -
Debt amortizations net - (18.4) (31.3) 251.5 (3.8) (34.9) (4.4)
Dividends paid - (8.5) (8.6) (9.3) (11.6) (12.6) (13.9)
FX effect - - (4.1) (7.2) 3.1 1.3 3.2
Initial cash balance - 85.7 122.4 146.6 164.0 232.9 251.8
Final cash balance - 121.4 146.6 163.9 232.9 251.8 350.5

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