Iochpe-Maxion Releases 2006 Results
15 February 2007 - 7:00AM
PR Newswire (US)
SAO PAULO, Brazil, Feb. 14 /PRNewswire-FirstCall/ -- Iochpe-Maxion
(ADR-OTC: IOCJY-PN) (preferred) (Bovespa: MYPK3 - (common) MYPK4
(preferred)), the largest Brazilian manufacturer of wheels and
frames for commercial vehicles, railway freight cars and railway
castings, releases its 2006 results. Results - Net Operating
Revenue: R$1,247.6 million - Gross Income: R$219.2 million -
Operating Income Before Financial Expenses (EBIT): R$136.4 million
- Operating Income After Financial Expenses: R$115.0 million - Net
Income: R$57.8 million - Earnings Per Share (EPS): R$1.085 -
EBITDA: R$162.7 million - Net Bank Debt: R$132.3 million - Capital
Expenditures: R$67.8 million In 2006, Iochpe-Maxion posted net
income of R$57.8 million (earnings per share, R$1.085), a 20%
reduction when compared to a net income of R$72.1 million in 2005
(earnings per share, R$1.355). Net operating revenue reached
R$1,247.6 million, a 17% reduction, reflecting a slowdown of the
Brazilian production of commercial vehicles and a strong decrease
in demand for railway freight cars, which was partially offset by
the growth of commercial vehicle wheels, castings and railway
wheels exports. Capital expenditures, primarily focused on
improvement of the industrial plant and production capacity
increases, reached R$67.8 million in 2006. The complete release on
Iochpe-Maxion's performance in 2006 is available for viewing and
download on the Company's website http://www.iochpe-maxion.com.br/
. IOCHPE-MAXION Iochpe-Maxion is the parent company of two main
companies: Maxion Sistemas Automotivos Ltda (with the Automotive
Components Division and the Wheels and Chassis Division) and Amsted
Maxion Fundicao e Equipamentos Ferroviarios S.A. These companies
operate five plants located in the cities of Cruzeiro, Osasco and
Hortolandia, in Sao Paulo state, and Contagem, in Minas Gerais
state. Iochpe-Maxion is a listed company since 1984. Its
controlling shareholders are Companhia Iochpe and BNDESPAR, both
with representatives on the Board of Directors. Contact Marcio
Fenelon Investor Relations - Phone (55 11) 5508-3843 / Fax (55 11)
5506-7353 DATASOURCE: Iochpe-Maxion CONTACT: Marcio Fenelon,
Investor Relations, Iochpe-Maxion, +011-5511-5508-3843, or fax,
+011-5511-5506-7353, or Web site: http://www.iochpe.com.br/
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