Grupo Rotoplas Reports Fourth Quarter and Full Year 2015 Results
Fourth Quarter Highlights
- Net sales decreased 12.5% year over year while net sales ex-Brazil increased 14.4%
- Gross margin increased by 290 basis points year over year
Full Year Highlights
- Revenues decreased by 13.0% as compared to 2014; ex Brazil revenues increased by 20.7%
- Strong operating and financial leverage resulted in a net income decrease of only 3.4% despite Brazil-driven reduction in net sales
- 70 basis points net income margin expansion
MEXICO CITY, Feb. 10, 2016 /PRNewswire/ -- Grupo Rotoplas S.A.B. de C.V. (BMV: AGUA) ("Rotoplas" or "the Company" or "the Group"), the leading provider of individual and integrated water solutions in the Americas, reported unaudited financial results for the fourth quarter and 12 months ended December 31, 2015. The information within has been prepared based on International Financial Reporting Standards (IFRS).
"Strong demand for our products and strict financial discipline throughout our company played a key role in 2015, supporting profitability and growth in all markets except Brazil, which continues to be impacted by a challenging economic environment. However, the quick actions we took early in the year to right-size our operations in that country enabled us to contain the impact on our Brazilian business and achieve a breakeven position in the fourth quarter, which we expect to remain sustainable through 2016. There are significant opportunities in the fast growing global water industry and we will continue to leverage our diverse product suite, unmatched distribution platform and brand recognition to strengthen our footprint while focusing on those factors over which we have control," said Grupo Rotoplas Chief Executive Officer Carlos Rojas Mota Velasco.
To access the full text of this earnings release, please visit the Grupo Rotoplas Investor Relations website at: http://www.rotoplas.com/investors.html
Grupo Rotoplas will host a conference call on Thursday, February 11, 2016 at 10:00 am CT (Mexico Time)/11:00 am ET, to present the Company's financial results for the fourth quarter and full year 2015.
Carlos Rojas Mota Velasco, Chairman of the Board and Chief Executive Officer, and Mario Romero Orozco, Chief Financial Officer, will review third quarter results followed by a question and answer session.
To participate in the conference call, please dial:
Conference ID: 972385
The call can also be accessed through Grupo Rotoplas' investor relations website: http://www.rotoplas.com/investors.html
Forward Looking Statements
About the Company
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SOURCE Grupo Rotoplas S.A.B. de C.V.