MEXICO CITY, Feb. 27, 2013 /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 fourth quarter 2012. Accumulated Revenues and EBITDA decreased 5.1% and 5.3% respectively compared to 2011.

Luis Orvananos Lascurain, Corporacion GEO's CEO, commented, "2012 could be characterized as a year of hurdles and challenges for the housing industry, but also as a year when GEO made decisive choices and carried out important steps that would align the Company's strategy to the industry's newly strengthened focus on the Mexican Housing Policy which looks after an improved sustainability in homebuilding. As a result of the industry changes in 2012, accumulated revenues decreased by 5.1% compared to 2011, the result of a 6.1% reduction in homes delivered." Mr. Orvananos continued, "We will continue to execute our conservative strategy in an effort to further strengthen operations. We will prioritize cash flow generation and debt level reduction and plan to reduce our land and other CAPEX investment as appropriate while decreasing SG&A expenses."

Audited financial figures: Figures discussed in this announcement have been reformulated as of December 31, 2011 in accordance with IFRS "International Financial Reporting Standards". The 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.