GEO Reports Results for the Third Quarter of 2012

              GEO Reports Results for the Third Quarter of 2012

PR Newswire

MEXICO CITY, Oct. 25, 2012

MEXICO CITY, Oct. 25, 2012 /PRNewswire/ --Corporacion GEO S.A.B. de C.V.
(BMV: GEOB; GEOB:MM, ADR Level I CUSIP: 21986V204; Latibex: XGEO), GEO,
Mexico's leading low-income housing developer, today announced results for the
third quarter 2012. Accumulated Revenues, EBITDA and Net Profit increased
6.6%, 8.9% and 8.4% respectively compared to the prior year.

Luis Orvananos Lascurain, Corporacion GEO´s CEO, commented, "Revenue increased
6.6% during the first nine months, in line with our expectations for
conservative revenue growth this year as part of our strategy, which will
allow us to continue strengthening the Company's balance sheet and Free Cash
Flow. There is no doubt that executing the right strategy continues to
position GEO as leader throughout this transition to sustainability."

He continued, "I'm confident that GEO's dedicated and experienced team will
ensure that we reach our 2012 goals as we continue on our mission to offer our
clients a better quality of life through a high-quality home."

Financial
Highlights
               Third Quarter                     Nine - Month Period
Income         2012       2011       YoY var.    2012       2011      YoY var.
Statement Data
Sales
(delivered     12,688     14,307     -11.32%     42,861     42,125    1.75%
units)
Revenues       $4,496.8   $4,631.9   -2.92%      $14,768.5  $13,856.6 6.58%
Gross Profit   $1,426.7   $1,515.1   -5.84%      $4,599.8   $4,428.8  3.86%
Gross Margin   31.7%      32.7%      -0.98 pp    31.1%      32.0%     -0.82 pp
Operating      $657.6     $691.2     -4.87%      $2,324.1   $2,174.9  6.86%
Profit
Operating      14.6%      14.9%      -0.3 pp     15.7%      15.7%     0.04 pp
Margin
Profit before  $568.1     $499.0     13.83%      $1,458.7   $1,565.2  -6.80%
Taxes
Profit before  12.6%      10.8%      1.86 pp     9.9%       11.3%     -1.42 pp
Taxes Margin
EBITDA         $1,047.5   $1,063.0   -1.46%      $3,315.2   $3,044.3  8.90%
EBITDA Margin  23.3%      23.0%      0.34 pp     22.4%      22.0%     0.48 pp
Net Profit     $356.6     $204.6     74.31%      $876.0     $808.3    8.38%
Net Margin     7.9%       4.4%       3.51 pp     5.9%       5.8%      0.1 pp
Free Cash Flow $412.3     -$1,379.2  $1,791.5    -$1,114.3  -$2,860.7 $1,746.4
to Equity ^(1)
               Quarter - Quarter
Balance Sheet  3Q12       2Q12       QoQ var.
Data
Cash and Cash  $2,126.2   $2,549.8   -16.61%
Equivalents
Working        645 days   624 days   21 days
Capital Cycle
Total Debt     $13,502.5  $14,706.8  -8.19%
^(2)
Interest       2.2 x      2.3 x      -0.1 x
Coverage
Net Debt to    2.4 x      2.6 x      -0.2 x
EBITDA (LTM)
Figures discussed in this announcement have been reformulated as of September
30, 2011 in accordance with IFRS "International Financial Reporting
Standards". Financial Statements as of September 30, 2012 were revised by
external auditors.
These figures are expressed in nominal pesos. Tables state figures in millions
of pesos unless otherwise noted.
(1) Non-reformulated 2011 figures under IFRS.
(2) Total debt obligation with financial institutions.

To obtain the full text of this earnings release, please visit our Investor
Relations website at www.corporaciongeo.com under the Shareholder Information
section.

About Corporacion GEO S.A.B. de C.V.

Corporacion GEO is a leading housing developer in Mexico and one of the
largest in Latin America. The Company is engaged in all aspects of design,
development, construction, marketing, sales and delivery of mainly low-income
housing developments in Mexico. With operations in 22 states, GEO is one of
the most geographically diversified homebuilders in Mexico. Since its
inception GEO has sold more than 600,000 homes which currently provide housing
to 2,200,000 people. GEO's Solid Business Model focuses mainly in the
Affordable Entry Level and Economic segments, which are supported by
government policies and by the Mexican Housing Institutions INFONAVIT and
FOVISSSTE. For more information, visit www.corporaciongeo.com

Safe Harbor Statement

This release may contain forward-looking statements regarding the Company's
results and business prospects. The readers should know that the results
obtained may differ from that stated on this release. Past performances do not
guarantee the behavior of future performances. The Company undertakes no
obligation to update any of these statements, either as a result of new
information, future actions or other related events.

SOURCE Corporacion GEO S.A.B de C.V.

Website: http://www.corporaciongeo.com
Contact: Corporacion GEO, S.A.B. de C.V. -- Francisco Martinez, Investor
Relations, fmartinezg@casasgeo.com, +(52) 55-5480-5071, or Marco Rivera Melo,
Investor Relations, mriveram@casasgeo.com, +(52) 55-5480-5115
 
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