Homex (HXM) Issues Guidance for 2007
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Homex (NYSE: HXM) announced guidance for 2007.
"The housing market in Mexico continues to be strong and I believe the ratifications announced last week of Mr. Carlos Gutierrez as President of CONAVI, and Mr. Victor Borras as CEO of INFONAVIT, provide further certainty to market outlook," commented David Sanchez-Tembleque, Homex's Chief Executive Officer.
In 2007, Homex expects revenues to increase 17% to 20% in real terms, while maintaining an efficient operation. The Company forecasts an improved 2007 EBITDA(5) margin of approximately 24.0%. In addition, Homex expects to continue reporting neutral to positive free cash flow after capex and land acquisition for 2007.
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