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