Rassini’s earnings hike 10.3% due to increasing heavy trucks production in Brazil

26 October, 2018

Warning: foreach() argument must be of type array|object, bool given in /home/mexiconow/public_html/sites/mexiconow/wp-content/themes/mexiconowwpnew/single.php on line 253

Mexican auto parts manufacturer Rassini posted earnings (EBITDA) of MXN 749 million (around US$ 40 million) in the third quarter of 2018, 10.3% more than in the same period last year, due to a recovery in the production of trucks in Brazil, market where they sell suspensions for this type of vehicles.

“There’s a growth of 31% and 43% in the production of heavy trucks and buses, respectively, in this market,” the company said in its quarterly report.

The company’s revenues totaled MXN 4,755 million (US$ 254.3 million), which represented an increase of 12.6%, while the company's net income was of MXN 316 million (US$ 16.9 million), 3.1% less than the same period last year.

In particular, the springs sales volume saw an increase of 5% in Brazil; while the braking segment in North America registered an 8% growth. Regarding the origin of sales, 89% took place in North America and the remaining 11% in Brazil.

MexicoNow