Rassini, S.A.B. de C.V. and Subsidiaries Unaudited Results for the Third Quarter of 2018

MEXICO CITY, Oct. 22, 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 third quarter and accumulated nine months ending September 30, 2018. Unless specified to the contrary, all numbers are in million Mexican pesos.

First Nine Months 2018 Financial Highlights:

• Net revenue climbed to $14,243 million or 5% YoY.
• EBITDA was $2,536 million.
• Net operating cash flow was $1,592 million.
• Net Debt / annualized EBITDA ratio as of September 30, 2018 was 0.2x.
• EBITDA / Net Interest Expense ratio as of September 30, 2018 was 12.6x.

Third Quarter 2018 Financial Highlights:

• Net revenue climbed to $4,755 million or 13% YoY.
• EBITDA reached $749 million, an increase of 10% YoY.
• Net income before taxes and minority interest climbed to $459 million.
• Net income was $316 million.

The U.S. auto industry experienced strong performance due to several factors. Notably, the seasonally adjusted annualized rate (SAAR) of U.S. light vehicles sales in September was 17.4 million, inventories normalized to 65 days of supply, and various favorable macroeconomic factors linked to the industry continued to track positively (GDP growth, unemployment rate, initial jobless claims, consumer confidence, etc.). Please note, the September 2018 SAAR is below the 18.5 million September 2017 SAAR due to the impact that Hurricane Harvey had on replacement demand, which significantly boosted last year's sales figures, and thus makes for an incomparable comparison).

Financial Results:

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, October 23, 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 third quarter financial results and recent business activities.

The conference call may be accessed using the following numbers:

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 October 23, 2018 to 11:59 p.m. (U.S. Central Time/Mexico City Time) on October 31, 2018 using the following numbers:

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 five 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, Mercedes Benz and Daimler among others.

Contact:

Edgar Landeros Mendoza
Rassini, S.A.B. de C.V.
Tel: (5255) 5229-58-76
E-mail: [email protected] 
www.rassini.com

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