READING, Pa.–(BUSINESS WIRE)–Cambridge-Lee Holdings, Inc., has announced its audited consolidated results for the fiscal year 2024.
| CAMBRIDGE-LEE HOLDINGS, INC. AND SUBSIDIARIES | ||||||
| (A Wholly Owned Subsidiary of Tubo de Pasteje S.A. de C.V.) | ||||||
| CONSOLIDATED BALANCE SHEETS | ||||||
| As of December 31, 2024 and December 31, 2023 | ||||||
| Figures in US Dollars | 12/31/2023 | 12/31/2024 | ||||
| Assets | ||||||
| Current Assets: | ||||||
| Cash and cash equivalents |
$ |
217,598,000 |
|
|
298,409,000 |
|
| Accounts Receivable – Net |
|
75,842,000 |
|
|
78,187,000 |
|
| Accounts Receivable – Affiliates |
|
3,254,000 |
|
|
9,353,000 |
|
| Accounts Receivable – Refundable Income Tax |
|
3,204,000 |
|
|
1,141,000 |
|
| Other Receivables |
|
18,000 |
|
|
250,000 |
|
| Inventories — net |
|
81,577,000 |
|
|
103,707,000 |
|
| Other current assets |
|
5,416,000 |
|
|
6,733,000 |
|
| Total current assets |
|
386,909,000 |
|
|
497,780,000 |
|
| Property, Plant, and Equipment — Net |
|
49,438,000 |
|
|
50,069,000 |
|
| ROU Asset |
|
4,680,000 |
|
|
4,250,000 |
|
| Deferred Financing Fees — Net |
|
169,000 |
|
|
117,000 |
|
| Other Long-Term Assets |
|
11,839,000 |
|
|
13,222,000 |
|
| Deferred Income Taxes-Long Term | ||||||
| Total |
$ |
453,035,000 |
|
$ |
565,438,000 |
|
| Liabilities and Shareholders’ Equity | ||||||
| Current Liabilities: | ||||||
| Current portion of long-term debt |
|
2,327,000 |
|
|||
| Revolving credit facility |
|
1,158,000 |
|
|||
| Lease Liability – S. T. |
|
26,063,000 |
|
|
1,180,000 |
|
| Trade Accounts Payable |
|
173,000 |
|
|
28,456,000 |
|
| Affiliates Payable |
|
14,681,000 |
|
|
1,277,000 |
|
| Accrued expenses and taxes other than income tax |
|
14,123,000 |
|
|||
| Income taxes payable |
|
1,238,000 |
|
|||
| Total current liabilities |
|
44,446,000 |
|
|
48,601,000 |
|
| Long-Term Debt |
|
2,336,000 |
|
|
9,000 |
|
| Long-Term Obligations — Other |
|
1,075,000 |
|
|
1,004,000 |
|
| Deferred Revenue |
|
404,000 |
|
|||
| Lease Liability – L. T. |
|
3,576,000 |
|
|
3,125,000 |
|
| Deferred Income Taxes |
|
3,264,000 |
|
|
2,360,000 |
|
| Total liabilities |
|
55,101,000 |
|
|
55,099,000 |
|
| SHAREHOLDERS’ EQUITY: | ||||||
| Common stock, no par — authorized, 1,500 shares; | ||||||
| issued and outstanding, 1,000 shares |
|
1,000 |
|
|
1,000 |
|
| Additional paid-in capital |
|
24,205,000 |
|
|
24,205,000 |
|
| Excess of liabilities assumed over book value | ||||||
| of assets transferred |
|
(17,514,000 |
) |
|
(17,514,000 |
) |
| Retained earnings |
|
380,343,000 |
|
|
488,801,000 |
|
| Accumulated other comprehensive income (loss) |
|
(713,000 |
) |
|
(127,000 |
) |
| Noncontrolling owner’s interest |
|
11,612,000 |
|
|
14,973,000 |
|
| Total shareholders’ equity |
|
397,934,000 |
|
|
510,339,000 |
|
| TOTAL |
$ |
453,035,000 |
|
$ |
565,438,000 |
|
| CAMBRIDGE-LEE HOLDINGS, INC. AND SUBSIDIARIES | ||||||
| (A Wholly Owned Subsidiary of Tubo de Pasteje S.A. de C.V.) | ||||||
| CONSOLIDATED STATEMENTS OF OPERATION | ||||||
| As of December 31, 2024 and December 31, 2023 | ||||||
| Figures in US Dollars | 12/31/2023 | 12/31/2024 | ||||
| Revenues: | ||||||
| Net Sales |
$ |
744,736,000 |
|
$ |
794,805,000 |
|
| Cost of Sales |
|
524,301,000 |
|
|
567,417,000 |
|
| Gross Income |
|
220,435,000 |
|
|
227,388,000 |
|
| Selling, General and Administrative Expenses |
|
43,163,000 |
|
|
44,506,000 |
|
| Operating Income |
|
177,272,000 |
|
|
182,882,000 |
|
| Other Expense: | ||||||
| Interest — net |
|
5,680,000 |
|
|
8,808,000 |
|
| Other — net |
|
(524,000 |
) |
|
2,530,000 |
|
| Total Other Expense |
|
5,156,000 |
|
|
11,338,000 |
|
| Income (Loss) From Continuing Operations Before Provision for Income Taxes |
|
182,428,000 |
|
|
194,220,000 |
|
| Provision (benefit) for Income Taxes |
|
45,324,000 |
|
|
47,418,000 |
|
| Net Income Gain (Loss) from Continuing Operations |
|
137,105,000 |
|
|
146,802,000 |
|
| COMPREHENSIVE (LOSS) INCOME—Pension unrecognized |
|
186,000 |
|
|
604,000 |
|
| (loss) gain adjustment—net of tax expense of $189,000 and $61,000 | ||||||
| for 2024 and 2023, respectively | ||||||
| Net Income (Loss) |
|
137,291,000 |
|
|
147,406,000 |
|
| Net Income Attributable to Noncontrolling Interest |
|
4,099,000 |
|
|
4,389,000 |
|
| Net Income Attributable to Cambridge-Lee Holdings, Inc. |
|
133,192,000 |
|
|
143,018,000 |
|
| CAMBRIDGE-LEE HOLDINGS, INC | ||
| STATEMENT OF CASH FLOW | ||
| Figures in US Dollars | ||
| December 31, 2024 | ||
| OPERATING ACTIVITIES: | ||
| Net income (loss) |
146,802,000 |
|
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
| Depreciation and amortization |
7,291,000 |
|
| Allowance for (benefit from) doubtful accounts receivable |
81,000 |
|
| Net periodic pension (benefit) cost |
951,000 |
|
| (Gain) loss on sale of property, plant and equipment |
11,000 |
|
| Amortization of ROU operating leases |
1,325,000 |
|
| Increase (decrease) in deferred income taxes |
(904,000) |
|
| Changes in assets and liabilities which provided (used) cash: | ||
| (Increase) decrease in accounts and notes receivable |
(8,803,000) |
|
| (Increase) decrease in inventories |
(22,130,000) |
|
| (Increase) decrease in prepaid expenses, deposits and other assets |
(2,912,000) |
|
| Increase (decrease) in other long term obligations |
(633,000) |
|
| Increase (decrease) in accounts payable, accrued exps & amounts due to affiliates |
2,837,000 |
|
| Change in operating lease liabilities |
(1,324,000) |
|
| Increase (decrease) in income taxes payable |
3,301,000 |
|
| Increase (decrease) in assets from dispositions | ||
| Total adjustments |
(20,909,000) |
|
| net cash provided by (used in) operating activities |
125,893,000 |
|
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Purchases of property, plant and equipment |
(7,711,000) |
|
| Net cash provided by (used in) investing activities |
(7,711,000) |
|
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Proceeds from long term debt |
(2,286,000) |
|
| Payment under finance lease obligations |
(85,000) |
|
| Cash payment of dividends |
(35,000,000) |
|
| Net cash provided by (used in) financing activities |
(37,371,000) |
|
| EFFECT OF EXCHANGE RATE CHANGES ON CASH | ||
| Net increase in cash and cash equivalents |
80,811,000 |
|
| Cash and cash equivalents at beginning of period |
217,598,000 |
|
| Cash and cash equivalents at end of period |
298,409,000 |
|
Contacts
Francisco Rodriguez
[email protected]
Tel. 5255 52164028
