Grupo Sports World, S.A.B. de C.V. Announces Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017; Provides Earnings Guidance for 2018
February 22, 2018
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Grupo Sports World, S.A.B. de C.V. announced consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported net revenue of MXN 459,303,000 against MXN 357,517,000 a year ago. Operating income was MXN 43,882,000 against MXN 26,008,000 a year ago. EBITDA was MXN 92,760,000 against MXN 66,381,000 a year ago. Earnings before taxes were MXN 27,991,000 against MXN 16,885,000 a year ago. Net income was MXN 27,933,000 or MXN 0.66 per share against MXN 13,475,000 or MXN 0.37 per share a year ago.
For the full year, the company reported net revenue of MXN 1,665,842,000 against MXN 1,363,874,000 a year ago. Operating income was MXN 111,758,000 against MXN 69,561,000 a year ago. EBITDA was MXN 292,757,000 against MXN 228,226,000 a year ago. Earnings before taxes were MXN 61,562,000 against MXN 39,528,000 a year ago. Net income was MXN 52,747,000 or MXN 0.66 per share against MXN 29,721,000 or MXN 0.37 per share a year ago. Net cash flow from operations was MXN 364,521,000. Acquisitions of leased location improvements, furnishings, equipment and constructions were MXN 346,379,000. Acquisitions of intangible assets and other assets were MXN 25,835,000. Net financial debt was MXN 486,486,000.
The Company expects a more than 19% in Revenue and 13%-14% in EBITDA, which represents an EBITDA Margin more than 16% for the year 2018.
Grupo Sports World SAB de CV is a Mexico-based company engaged, together with its subsidiaries, in the management of a network of membership fitness and wellness centers, which operate under such names as Sports World Club, SW Gym Plus, Fitkidz, In Shape, Sports World Fit and SW Gym, among others. The Company has operations established in such cities as Tijuana, Hermosillo, Monterrey, Veracruz and Puebla. As of December 31, 2011, the Company owned such subsidiaries as Operadora y Administradora SW SA de CV and Grupo Concentrador de Servicios SA de CV, and Nexxus Capital SA de CV was its major shareholder with 20.34% of its interest. In August 2013, the Company's new club, SW Reforma Rhin, has initiated its operations.
Grupo Sports World, S.A.B. de C.V. Announces Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017; Provides Earnings Guidance for 2018