SANLUIS Corporacion, S.A. de C.V. and Subs.
Consolidated Statements of Income for the period Jan-June 2004
(in thousands of Mexican Pesos with Purchasing Power as of
June 30, 2004)
2004 2003
Net Sales 3,216,176 2,624,975
Cost of Sales 2,652,691 2,034,000
Gross Profit 563,485 590,975
Operating Expenses 392,239 365,154
Operating Income 171,246 225,821
Financial Expenses 152,320 172,617
Financial Income 4,551 7,381
Exchange (Gain) Loss 28,299 60,800
Monetary (Gain) Loss (54,764) (48,922)
Other Expenses 64,465 46,689
Income from affiliates (2,891) (1,002)
Income before Taxes
and Profit Sharing (17,414) 1,016
Taxes and Employee Profit Sharing 40,138 23,560
Deferred Taxes 29,629 35,626
Net Income before
extraordinary items (87,181) (58,170)
Extraordinary expense (income) (125,751) 0
Net Income 38,570 (58,170)
Distribution of Net Income
Majority Interest 6,463 (67,416)
Minority Interest 32,107 9,246
Depreciation and Amortization 180,140 165,544
EBITDA 351,386 391,365
Financial and operating indicators
Gross Margin 17.52% 22.51%
EBITDA Margin 10.93% 14.91%
Operating Margin 5.32% 8.60%
Net Interest coverage
(EBITDA/Net Interest Expense) 2.4 2.4
SANLUIS Corporación, S.A. de C.V. and Subs.
Consolidated Balance Sheet as of June 30, 2004
(in thousands of Mexican Pesos with Purchasing Power as of
June 30, 2004)
2004 2003
Assets
Cash and equivalents 216,030 161,395
Customer receivables 856,167 697,430
Other Accounts Receivable 180,118 295,353
Inventories 73,075 358,159
Other Current Assets 244,943 119,848
Total current assets 1,970,333 1,632,185
Investment in affiliates
and long-term receivables 68,424 211,633
Property, Plant and
Equipment,net 4,314,109 4,305,697
Other assets 1,329,996 1,318,701
Total Assets 7,682,862 7,468,216
Liabilities
Supplier payables 732,588 502,206
Notes Payable 440,030 491,220
Other Current Liabilities 365,680 383,139
Long Term Debt 3,194,890 3,422,597
Other Long Term Liabilities 119,594 102,844
Total Liabilities 4,852,782 4,902,006
Consolidated Net Worth
Majority Interest 930,443 689,512
Minority Interest 1,899,637 1,876,698
Total consolidated Net Worth 2,830,080 2,566,210