Key
Financial Information

(Amounts in thousands pesos, except earnings per share) 2015 2016 2017 Var%
2017-2016
Sales 88,223,816 95,187,635 93,592,613 -1.7%
Gross Profit 25,562,314 28,470,025 28,981,097 1.8%
Operating Income 10,329,259 13,725,876 12,941,490 -5.7%
EBITDA 12,570,512 14,578,076 13,871,725 -4.8%
Controlling Participation in Net Income 6,196,155 9,524,896 10,033,633 5.3%
Earnings per Share (EPS)* 2.72 4.20 4.42 5.2%
 
Margins        
Gross 29.0% 29.9% 31.0% 1.1 pp
Operating 11.7% 14.4% 13.8% -0.6 pp
EBITDA 14.2% 15.3% 14.8% -0.5 pp
Net 7.0% 10.0% 10.7% 0.7 pp
 
Revenues        
Commercial 44,413,058 47,593,847 49,768,427 4.6%
Industrial 26,951,014 29,048,773 28,782,821 -0.9%
Infrastructure and Construction 17,259,620 19,143,008 17,273,500 -9.8%
Energy 2,588 0 62,443 0.0%
 
EBITDA**        
Commercial 5,707,369 6,465,469 6,332,165 -2.1%
Industrial 4,052,744 5,127,274 4,849,287 -5.4%
Infrastructure and Construction 2,714,185 2,948,794 2,696,770 -8.5%
Energy -33,120 -80,351 -15,800 -80.3%
 
EBITDA Margins        
Commercial 12.9% 13.6% 12.7% -0.9 pp
Industrial 15.0% 17.7% 16.8% -0.9 pp
Infrastructure and Construction 15.7% 15.4% 15.6% 0.2 pp
Energy -1279.8% NA -25.3% NA pp
 
Total Assets 94,184,910 109,556,349 118,847,930 8.5%
Total Liabilities 30,390,542 37,976,185 37,916,273 -0.2%
Stockholders´ Equity 63,794,368 71,580,164 80,931,657 13.1%
Compounded Average Outstanding Shares (‘000) 2,281,190 2,268,787 2,267,779 0.0%
* EPS: Calculated as Controlling Participation in Net Income divided by the compounded average shares outstanding. Amount in pesos.
** EBITDA: Income before income taxes plus depreciation and amortization, interest expense, impairment of machinery and equipment and exploration expenses, and effect on valuation of derivative financial instruments, less interest income, net foreign exchange gain, surplus from appraisals of shopping centers and equity in earnings of associated companies and joint ventures. See conciliation in Note 30 of the Financial Statements.
pp: Variation in percentage points

Sales
(million Pesos)

15

16

17

88,224

95,188

93,593

Operating Income
(million Pesos)

15

16

17

10,329

13,726

12,941

11.7%

13.8%

Operating Margin

EBITDA*
(million Pesos)

15

16

17

12,570

14,578

13,872

14.2%

14.8%

EBITDA Margin

Sales
(million Pesos)

15

16

17

88,224

95,188

93,593

Operating Income
(million Pesos)

15

16

17

10,329

13,726

12,941

11.7%

13.8%

Operating Margin

EBITDA*
(million Pesos)

15

16

17

12,570

14,578

13,872

14.2%

14.8%

EBITDA Margin

Sales Breakdown by Subsidiary
(million Pesos)

53.2%  Commercial and Consumer: 49,768

30.8%  Industrial and Manufacturing: 28,783

18.5%  Infrastructure and Construction: 17,273

0.1%    Energy: 62

-2.5%  Other: -2,295

Sales Breakdown by Subsidiary
(million Pesos)

53.2%  Commercial and
Consumer: 49,768

30.8%  Industrial and
anufacturing: 28,783

18.5%  Infrastructure
and Construction: 17,273

0.1%    Energy: 62

-2.5%  Other: -2,295

Participación en Ventas por Subsidiaria
(millones de pesos)

53.2%  Commercial
and Consumer: 49,768

30.8%  Industrial and
Manufacturing: 28,783

18.5%  Infrastructure
and Construction: 17,273

0.1%    Energy: 62

-2.5%  Other: -2,295

Operating Income Breakdown
by Subsidiary (million Pesos)

39.9%  Commercial and
Consumer: 5,158

34.3%  Industrial and
Manufacturing: 4,441

16.5%  Infrastructure
and Construction: 2,137

-0.2%    Energy: -24

9.5%  Other: 1,229

Operating Income Breakdown
by Subsidiary
(million Pesos)

39.9%  Commercial and Consumer: 5,158

34.3%  Industrial and Manufacturing: 4,441

16.5%  Infrastructure and Construction: 2,137

-0.2%  Energy: -24

9.5%   Other: 1,229

Operating Income Breakdown
by Subsidiary
(million Pesos)

39.9%  Commercial
and Consumer: 5,158

34.3%  Industrial and
Manufacturing: 4,441

16.5%  Infrastructure
and Construction: 2,137

-0.2%  Energy: -24

9.5%   Other: 1,229

*Note: EBITDA for 2015 does not include machinery and equipment wear and tear and exploration expenses nor surplus derived from shopping mall appraisals. EBITDA for 2016 does not include $1,242 million for profit on the purchase of SROM real property shares, fixed asset impairment, nor reevaluation of investment assets. EBITDA for 2017 does not include $1,332 million resulting from profits on dilution and sale of shares of associated companies (GMexico Transportes), nor reevaluation of investment assets, nor fixed asset impairment.