Desarrolladora Homex, SAB de CV provides consolidated earnings guidance for the full year of 2013. For the period, the company revenue assuming the aforementioned recognition of some construction revenues during 2013, is expected to decrease around 22% to 23%, as the 2012 base of comparison will include most of the construction of the two prison projects. The company expects an EBITDA margin for the year of approximately 22% to 23% without considering revenues from the two federal penitentiaries and 23% to 24% when considering revenues from these projects.

The company expects positive cash flow generation in the range of MXN 700 million to MXN 1.0 billion, without considering the contribution of revenues from the two Federal penitentiary projects. On a consolidated basis, considering the two Federal penitentiaries, the company' cash flow is expected to be neutral to slightly negative at MXN 200 million due to the recognition of a portion of the construction revenues during 2013. It is important to note that this revenue is recognized as an increase in accounts receivable before the service contract starts, thus creating an initial timing mismatch reflected in negative free cash flow on an accounting basis.

The company expects to continue with its conservative land replacement strategy, expecting to invest approximately MXN 1.0 billion. For capital expenditures, the company has included a budget of approximately MXN 280 million which considers maintenance CAPEX for its concrete plants, and capital expenditures for the maintenance and production of the company's aluminum moulds.