Grupo Condumex’s sales stood at Ps.25,957 million in 2014, a reduction of 2.9% compared to the Ps.26,723 million figure recorded in the prior year.
This effect is explained by i)a decline in the demand for turnkey projects, as well as a lesser number of tenders for transformers and power cables in Construction and Energy, a sector that contributes 51% of sales; ii) a 9.0% decrease in the price of copper worldwide, which had a negative impact on Industrial Metals; and iii) a reduction in electrical installation services activity.
Sales in the automotive sector increased 9.3% as a result of the domestic and international demand for harnesses and cables, primarily in the United States and Brazil.
Operating income stood at Ps.2,474 million, while EBITDA amounted to Ps.2,822 million. These figures represented increases of 39.1% and 31.0%, respectively, compared with the figures observed in the previous year. The strong performance was attributed to the mix of sales, as well as on the savings plan for costs and expenses carried out at the beginning of the year.
Net controlling interest in Grupo Condumex increased 11.4% to Ps.1,647 million, in comparison with the Ps.1,479 million figure recorded in 2013, which is a result of the previously-mentioned effects.
Capital investments undertaken by Grupo Condumex in the year totaled Ps.321 million, which were used in the maintenance of industrial assets, as well as for investment programs.
SHEATHING PROCESS OF FIBER OPTIC CABLE AT CONDUTEL
ARCOMEX PLANT OF CONDUMEX
Copper cable wrapping process at IEM
In the Automotive sector, sales grew 9.3% driven by demand for harnesses and cables, primarily in the United States and Brazil.
Operating income and EBITDA totaled Ps.2,474 million and Ps.2,822 million, respectively, increasing 39.1% and 31.0% in the year.
Net controlling interest income in Grupo Condumex expanded by 11.7% to Ps.1,647 million, against Ps.1,479 million recorded in 2013.