Promotora Ambiental SAB de CV Reports Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2012
October 26, 2012
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Promotora Ambiental SAB de CV reported consolidated earnings results for the third quarter and nine months ended September 30, 2012. For the quarter, the company reported revenues were MXN 680,208,000 compared to MXN 608,236,000 for the same period a year ago. Income before income tax was MXN 59,372,000 compared to MXN 10,156,000 for the same period a year ago. Net income was MXN 34,495,000 compared to net loss of MXN 38,932,000 a year ago period. Total EBITDA was MXN 148,966,000 compared to MXN 144,248,000 a year ago period. EBITDA was driven by waste management and other businesses.
For the nine months, the company reported revenues were MXN 2,066,015,000 compared to MXN 1,823,467,000 for the same period a year ago. Income before income tax was MXN 105,009,000 compared to MXN 28,946,000 for the same period a year ago. Net income was MXN 74,783,000 compared to net loss of MXN 46,064,000 a year ago period. Net cash provided by operating activities was MXN 347,107,000 compared to MXN 229,604,000 for the same period a year ago. Acquisition of fixed assets was MXN 241,387,000 compared to MXN 123,402,000 for the same period a year ago. Total EBITDA was MXN 433,000,000 compared to MXN 378,926,000 a year ago period. As of September 30, 2012, net debt was MXN 430 million, compared to a net debt of MXN 827 million presented in the balance sheet as of September 30, 2011.
Promotora Ambiental SAB de CV (PASA) is a Mexico-based company engaged, through its subsidiaries, in the provision of environmental services. Its activities are structured in four areas: Waste Management Services, which includes private and residential collection, as well as operation of landfills; Water and Biotechnology, which provides such services as sewage, wastewater treatment and distribution of potable water; Oil Industry Services, which consists of the development and implementation of logistics for the management and treatment of waste resulting from well drilling activities, and Ecomar, which is mainly dedicated to the dismantling of obsolete ships. The Company owns such subsidiaries as Altya SA de CV, Gen Industrial SA de CV, Professional Recycling SA de CV, and Recolectora de Desechos y Residuos King Kong SA de CV, among others. In December, 2013, the Company acquired a 70% stake in Enviroronmental Management Group, Inc.
PROMOTORA AMBIENTAL, S.A.B. DE C.V. 
