Mexico · Delayed Price · Currency is MXN Grupo Industrial Saltillo Earnings Call Transcripts
Fiscal Year 2026
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Q3 revenue rose 7% to $267 million and EBITDA increased 17% to $27 million, with margin at 10%. North American casting strength offset European energy and shutdown pressures; net debt fell to $267 million and a $15 million dividend was approved.
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Q2 revenue rose 11% YoY to $278 million, with EBITDA of $32 million and an 11% margin despite FX and cost headwinds. H1 program awards, operating efficiencies and disciplined CapEx underpin growth and cash-generation priorities.
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Q1 revenue grew 7% to $271 million, with reported EBITDA of $31 million and a 12% margin; adjusted for the prior-year extraordinary benefit, EBITDA rose 4%. New programs exceed $50 million in estimated revenue, and FY 2026 CapEx guidance remains $60 million-$70 million.
Fiscal Year 2025
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Q4 revenue rose 5% YoY and pro forma EBITDA grew 17%; FY pro forma EBITDA increased 9% despite soft commercial-vehicle demand. 2026 priorities include margin gains, higher-value mix and CapEx of $60M–$70M.
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Consolidated revenue rose 3% YoY, but Evercast overruns and seasonal downtime weighed on margins. Management expects a smaller Evercast impact in Q4, reduced FY2025 CapEx guidance to $75 million, and retained its $300-per-ton target.
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Q2 EBITDA reached $31 million at a 13% margin, with five consecutive quarters of sequential margin expansion. Capacity ramp-ups, cash discipline and higher-margin product shifts underpin the outlook, while auto-market volatility persists.
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Consolidated EBITDA reached a 10-quarter high with a 13% margin despite lower revenue. FY25 priorities include ramping value-added capacity, improving margins and cash flow, and managing tariff uncertainty.
Fiscal Year 2024
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FY 2024 EBITDA rose 46% to $112M as operational efficiency and higher-value output lifted margins despite softer European volumes. For 2025, priorities include utilization, cash flow, and an $85M CAPEX program.
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Revenue declined 5% YoY, but EBITDA rose 66% and margin expanded to 12%, led by North American operational gains. New contracts, capacity ramp-ups and higher-value products support growth, while European weakness and automotive market pressures persist.
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Q2 consolidated EBITDA doubled YoY to $28 million on a low base and held steady QoQ, while revenue fell 4% to $260 million. Capacity ramp-ups, updated pricing, and refinancing support the outlook; net leverage was 2.5x.
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Q1 revenue rose 4% YoY to $272 million, while EBITDA reached $28 million, up 40% from Q4 2023. Capacity ramp-ups and pricing actions underpin expectations for stronger EBITDA and double-digit margins; refinancing and elevated 2024 CapEx support expansion.
Fiscal Year 2023
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Q4 revenue reached $244M and EBITDA improved 18% QoQ, while FY revenue was $1B and EBITDA was $79M. Capacity expansion, price recovery, and higher volumes underpin expectations for a double-digit EBITDA margin in 2024.
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Q3 revenue rose 4% YoY to $256 million, while EBITDA reached $17 million, up 20% QoQ. Margin recovery is expected into 2024, supported by price negotiations, new contracts and capacity ramp-ups.
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Q2 revenue rose 11% YoY to $271 million, while EBITDA declined under expansion, launch and FX pressures. Net leverage was 1.0x; management expects line six to stabilize in Q3 and targets recovery in EBITDA per ton.
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Q1 revenue was $260 million and EBITDA $28 million, with record Draxton volumes and new contracts supporting growth. The $299 million Vitromex sale strengthened the balance sheet, while capacity expansion and $130 million of planned 2023 CapEx position operations for demand growth.