Feb 19, 2018   SOURCE: PR NewsWire

Rassini, S.A.B. de C.V. and Subsidiaries Unaudited Results for the Fourth Quarter and Fiscal Year 2017

MEXICO CITY, Feb. 19, 2018 /PRNewswire/ -- Rassini, S.A.B. de C.V. (Mexican Stock Exchange Ticker: RASSINI), a company engaged in the design and manufacture of suspension and brake components for the automotive industry, announced today its unaudited financial results for the fourth quarter and fiscal year 2017.

Fiscal Year 2017 Financial Highlights:

    --  Net revenue climbed to $18,104 million Mexican pesos.
    --  EBITDA reached $3,366 million Mexican pesos.
    --  Net operation cash flow rose to $2,825 million Mexican pesos.
    --  Net income reached $1,475 million Mexican pesos.
    --  Net Debt / annualized EBITDA ratio as of December 31, 2017 was 0.2x.
    --  EBITDA / Net Interest Expense ratio as of December 31, 2017 was 11.1x.

Fourth Quarter 2017 Financial Highlights:

    --  Net revenue climbed to $4,511 million Mexican pesos.
    --  EBITDA reached $836 million Mexican pesos.
    --  Net income reached $272 million Mexican pesos.

U.S. auto sector presented a stronger performance resulting from several factors, among them, auto sales adjusted by seasonality (SAAR) in December reached 17.8 million of vehicles, inventories level normalized lower to a healthy 61 days of supply and various macroeconomic factors linked to the industry tracked more positively (GDP growth, unemployment rate, initial jobless claims, consumer confidence, etc.).

Financial Results: 


                            Consolidated          Fiscal Year 2017 Results                     Fourth Quarter Results

                                                   (January 1-December 31)                     (October 1-December 31)
    ---                                            ----------------------                      ----------------------

                                2017              2016%                            2017            2016%
                                                              Change                                          Change
                            (mill. pesos) (mill. pesos)                   (mill. pesos)   (mill. pesos)
                            ------------  ------------                    ------------    ------------

    Sales                                       $18,104          $16,340              11%          $4,511           $4,353    4%
    -----                                       -------          -------              ---           ------           ------   ---

    Gross Profit                                 $4,581           $4,373               5%          $1,130           $1,146  (1%)
    ------------                                 ------           ------              ---           ------           ------   ---

    EBITDA                                       $3,366           $3,190               6%            $836             $821    2%
    ------                                       ------           ------              ---             ----             ----   ---

    Net Income before taxes                      $1,992           $1,935               3%            $499             $470    6%
    and minority interest
    ---------------------

    Net Income                                   $1,475           $1,431               3%            $272             $201   35%
    ----------                                   ------           ------              ---             ----             ----   ---

For a complete overview of our financial results, please visit:
http://ir.rassini.com/en/reportes-trimestrales

Conference Call:

Rassini will host a conference call on Tuesday, February 20, 2018 at 9:00 a.m. (U.S. Central Time/Mexico City Time) / 10:00 a.m. (U.S. Eastern Time) to discuss its unaudited fourth quarter and full year financial results and recent business activities.

The conference call may be accessed using the following numbers:


    US:                                  +1-844-266-7440

    Mexico:                              01-800-926-9157

    International:                       +1-213-784-1694

    Passcode:                                             9058189

Please dial in approximately 10 minutes before the scheduled time of this call.

A replay of the conference call will be available starting from 12:00 p.m. (U.S. Central Time/Mexico City Time) on February 20, 2018 to 11:59 (U.S. Central Time/Mexico City Time) on February 27, 2018 using the following numbers:


    US:                            +1-855-859-2056

    Mexico:                        404-537-3406

    Passcode:                                       9058189

A presentation deck for the call will be available at:
http://ir.rassini.com/en/reportes-trimestrales

RASSINI

Rassini is a leading designer and manufacturer of suspension and brake components for the global automotive industry, mainly focused on original equipment manufacturers (OEMs).

Rassini is the world's largest producer of suspension components for light commercial vehicles, as well as the largest fully integrated brakes disc producer in the Americas. Rassini has eight manufacturing sites strategically located in Mexico, the U.S. and Brazil, as well as four tech centers located in the same countries.

Suspension products include leaf springs (parabolic and multi-leaf) for light and commercial trucks, coil springs and bushings. The brakes business manufactures rotors, drums, brake assemblies, clutch plates and motor balancers.

Its solid and diversified customer base includes: General Motors, Ford Motor Co., FCA, Nissan, Volkswagen, Toyota, MAN, Scania, Maserati, Mercedes Benz and Daimler among others.

Contact:

Emma Bocanegra Fragoso
Rassini, S.A.B. de C.V.
Tel: (5255) 5229-58-34
E-mail: ebocanegra@rassini.com
www.rassini.com

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SOURCE Rassini, S.A.B. de C.V.