FY 2022 HIGHLIGHTS
- Consolidated net sales increased 12.6%, to
US$1,169.5 million for the full year U.S. sales grew 12% as cement and concrete volumes increased 2.9% and 3.1%, respectivelyU.S. cement and concrete prices rose 12.1% and 4.4%, respectivelyMexico sales increased 14% reflecting an 8.6% increase in concrete volumesMexico cement and concrete prices increased by 12.5% and 8.7%, respectively- EBITDA increased 7.4% to
US$362.7 million with a 31% EBITDA margin - Free cash flow increased 16.8% to
US$284.7 million with a 78.5% free cash flow conversion rate - Earnings per share increased 23.7% year-on-year to
US$0.5670 - Cash and equivalents totaled
US$832.1 million - Net leverage (net debt/EBITDA) ratio dropped to -0.95x by year-end
- A dividend of Ps. 1.1621 per share was paid on
May 17, 2022 , representing a 15% year-on-year increase - GCC reactivated its share buyback program representing a net investment of
US$26.4 million - Fitch Ratings upgraded GCC’s outlook to positive from stable and affirmed the Company’s BBB- credit rating
- GCC announced its
Odessa plant expansion, enabling increased production capacity exceeding one million metric tons
Q4 2022 HIGHLIGHTS
- Consolidated net sales increased 12.3% year-on-year, to
US$289.7 million U.S. sales expanded 8% as cement and concrete prices increased by 16.2% and 12.5%, respectivelyMexico sales grew 23% reflecting a 10% increase in concrete volumesMexico cement and concrete prices increased by 12.5% and 10.2%, respectively- EBITDA increased 12.7% to
US$91.3 million with a 31.5% EBITDA margin - Free cash flow totaled
US$115.1 million with a 126% free cash flow conversion rate - Earnings per share increased 71.7% year-on-year to
US$0.1562 - GCC completed a net amount of
US$5.9 million in repurchased shares
Q4 22 | Q4 21 | Q4 22 vs Q4 21 | 2022 | 2021 | 2022 vs 2021 | |
Net sales | 289.7 | 257.9 | 12.3% | 1,169.5 | 1,038.8 | 12.6% |
Operating income before other expenses, net | 69.3 | 57.2 | 21.1% | 269.5 | 241.1 | 11.8% |
EBITDA* | 91.3 | 81.0 | 12.7% | 362.7 | 337.7 | 7.4% |
EBITDA margin | 31.5% | 31.4% | 31.0% | 32.5% | ||
Free cash flow** | 115.1 | 88.8 | 29.6% | 284.7 | 243.7 | 16.8% |
Net income | 51.3 | 30.1 | 70.2% | 187.1 | 151.9 | 23.2% |
Earnings per share (US$) *** | 0.1562 | 0.0910 | 71.7% | 0.5670 | 0.4583 | 23.7% |
*EBITDA: Operating income before other expenses + depreciation and amortization
**Free cash flow before growth and strategic CapEx
***Earnings per share calculated based on average number of outstanding shares during the quarter
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ABOUT GCC
GCC is a leading supplier and producer of cement, concrete, aggregates and construction‐related services in
Founded in 1941, the Company’s shares are listed on the
Forward Looking Statements
This earnings report may contain forward-looking statements. All statements that are not clearly historical in nature are forward-looking, and the words “anticipate,” “believe,” “expect,” “estimate,” “intend,” “project” and similar expressions are generally intended to identify forward-looking statements. These statements are subject to risks and uncertainties including, among others, changes in macroeconomic, political, legal, public health crises including COVID-19, governmental or business conditions in the markets where GCC operates; changes in interest rates, inflation rates and currency exchange rates; performance of the construction industry; and pricing, business strategy and other factors. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may differ materially from the beliefs, projections and estimates described herein. GCC assumes no obligation to update the information contained in this press release. Due to rounding, numbers presented throughout this document may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures.
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GCC Investor Relations
Sahory Ogushi
+52 (614) 442 3176
+ 1 (303) 739 5943
soguship@gcc.com
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