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Elementia Announces First Quarter 2020 Results

Written by Customer Service on . Posted in Public Companies.

MEXICO CITY, April 29, 2020 (GLOBE NEWSWIRE) — Elementia, S.A.B. de C.V. (BMV: ELEMENT*) (“the Company”, or “Elementia”) announced today its financial and operating results for the first quarter (“1Q20”). Figures in this report are unaudited and have been prepared in accordance with International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB). Figures are stated in Mexican pesos ($).
Main HighlightsDuring 1Q20, Elementia reported declines in consolidated revenues and EBITDA of 2% and 23%, respectively vs 1Q19; however, compared to the previous quarter, these increased 4% and 20%, respectively.The spin off process is in “stand-by” until market conditions improve, however, operationally we are ready.Regarding the sale of our cement assets in Pennsylvania, the process continues, but approval by the anti-trust authority is still pending; we expect this to be concluded by the end of the third quarter of 2020.As an effect of the preventive measures decreed by the different governments related to COVID-19, we stopped operations beginning in mid-March in Peru, Bolivia, Ecuador, Colombia and El Salvador.Leverage ratio for 1Q20 was 5.14x.The Company´s strategic focus for 2020 will be, first, the generation of cash flow to overcome the crisis caused by the pandemic, followed by the following objectives:Elementia ´s 1Q20 full earnings report and financial statements can be downloaded at www.elementia.com.Recent EventsOn March 20, 2020, the Company announced the preventive measures for the spread of Covid-19 and announced the closure of operations in Peru, Bolivia and Ecuador.
 On March 30, 2020, the Company announced the closure of operations in El Salvador and Colombia, as well as the declaration of Essential Industry in the United States.
 On April 13, 2020, the death of Jaime Ruiz Sacristan, member of the Board of Directors, was reported with deep sadness.Earnings Conference Call DetailsThursday, April 30, 2020 
 (BMV: ELEMENT*)
1Q20 Earnings Conference Call
12 p.m. (Mexico City)/ 1 p.m. (EST)

Hosted by:
 Fernando Ruiz Jacques, Chief Executive Officer
Juan Francisco Sánchez Kramer, Chief Financial Officer

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