Alfa Group, one of the largest industrial corporations in Latin America, announced Thursday that in 2010 earning estimates by 9 billion dollars, a figure higher than 6% over last year.
The Alfa group held in Monterrey, capital of Nuevo Leon, a meeting with 70 analysts, investors and representatives of rating agencies who reported on their investment projects and results.
The company announced that this year will invest $ 393 million, representing an increase of 36% over what was accomplished in 2009.
“In 2010, the company estimates revenue gain of 9 billion dollars, 6% higher than the previous year,” the company said in a statement.
“We have transformed from a regional company Alfa, which had a portfolio of businesses focused on commodity products such as steel and synthetic fibers, to be a global company with manufacturing operations in 16 countries”, said the president of Alfa, Dionisio Garza Medina.
Garza said that in 2009, Alfa had record in terms of generating gross income (EBITDA), despite the adverse environment caused by its worst economic crisis in decades, though he said 2010 results are expected to better last year.
The company anticipates that its EBITDA this year will reach 110 million thousand dollars, which means raising its cash flow by 5% above the record levels reached last year.
“This cash generation allow us to reduce net debt and further strengthen our already strong finances, paving the way for future growth,” said Garza.
Alfa plans to reduce by 5% its net debt during the year to close with a balance of about 2 thousand 300 million dollars.
Established in 1974, Alpha Group is a major Mexican industrial consortium and has operations in petrochemicals and synthetic fibers (Alpek), food (Sigma), auto parts (Nemak) and telecommunications (Alestra).
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