Mexico: Elementia 4Q16 and 12M16 results

Elementia announced its financial and operating results for the 4Q16 and 12-month period ended 31 December 2016 with net sales increasing by 36 per cent in 4Q16 and 12 per cent in 12M16, reaching US$5.45bn and US$19.09bn, respectively.

Company EBITDA rose 48 per cent in 4Q16 and by 20 per cent in 12M16, reaching US$986m and US$3.59bn, respectively. During the 4Q16, the Mexico cement division increased EBITDA by 29 per cent.

To date investments in the expansion of the cement division’s capacity reached US$3.70bn, which represents close to 90 per cent of the total investment. Cash flow generation before capital expenditure (CAPEX) as of 31December 2016 was US$3.41bn, representing 95 per cent of EBITDA.
  
The proceeds from the capital increase were mainly allocated towards the acquisition of a 55 per cent stake of Giant Cement Holding Inc for US$220m, adding over 2.8Mta of cement production capacity.