Despite the challenging environment of the year, with slow economic growth and significant increases in inflation and the price of some important feedstocks, Grupo Lamosa was able to capitalize on market opportunities, not only in Mexico, but also abroad. As a result, the past years’ growth rate was maintained, consolidating the position of the company’s products across its different markets.
Revenue expansion in the company’s different business segments and the incorporation of Cerámica San Lorenzo in South America during 2017 produced record annual sales of $17,971 million pesos, a year-over-year growth of 32%.
An appropriate and timely implementation of the company’s plan to leverage synergies, in combination with the integration of Cerámica San Lorenzo, drove annual results. Moreover, the successful incorporation of the operations of the South American company during the year enabled the identification of synergies in operating and commercial areas, as well as in logistics and sourcing. Thus, Grupo Lamosa’s 2017 operating income was $2,804 million pesos, 17% above the previous year, while EBITDA was $3,619 million pesos, 18% more than in 2016.
Federico Toussaint Elosúa
Chairman of the Board and Chief Executive Officer
Because of Grupo Lamosa’s expansion across the American continent, today one third of the company’s operations are in countries outside Mexico. The reduced dependence on a single country and diversified income streams create a solid platform that will continue to promote growth.
During the year, all Grupo Lamosa businesses made great efforts to maintain their close contact with the customer, enhance the value of their brands and develop systems to better identify consumer needs. The initiatives implemented ensure that they can react quickly and effectively with new and amazing products and designs that tip the balance favorably in purchasing decisions.
The company’s 2017 results once again confirm its leadership, the effectiveness of its growth strategy and its capacity to successfully incorporate the operations of acquired companies. All of this will continue creating value for stockholders.
Grupo Lamosa would once again like to express its appreciation for the trust of its stockholders, the commitment of its people, and the support of creditors, suppliers, distributers, customers and friends.
Chairman of the Board and Chief Executive Officer
