RESULTS SUMMARY
Report
| Results (MXN Million) | 2020 | 2021 | 2022 | 2023 | 2023 Proforma | 2024 Proforma |
|---|---|---|---|---|---|---|
| Revenue | 3,651 | 4,161 | 4,357 | 4,820 | 13,725 | 14,282 |
| Gross Profit* | 1,088 | 1,210 | 1,315 | 1,501 | 4,224 | 4,596 |
| Operating income | 567 | 643 | 708 | 828 | 2,142 | 2,271 |
| Comprehensive Financial Result** | -127 | -146 | -145 | 241 | 590 | 604 |
| EBITDA | 615 | 690 | 757 | 881 | 2,364 | 2,537 |
| Net Income | 343 | 379 | 412 | 438 | 1,003 | 1,161 |
*Includes capitalized interests in cost of sales.
**It does not include capitalized interest in cost of sales.
Proforma results include 12 months of Vinte + 12 months of Javer.
Financial Position
| Financial Position (MXN million) | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Total Assets | 9,241 | 9,512 | 9,881 | 11,718 | 23,030 |
| Cash, Cash Equivalents and Restricted Cash | 1,293 | 844 | 711 | 1,507 | 1,865 |
| Total Debt | 2,893 | 2,768 | 2,823 | 4,059 | 8,559 |
| Total Liabilities | 4,923 | 5,143 | 5,284 | 6,868 | 16,147 |
| Equity | 4,319 | 4,369 | 4,596 | 4,849 | 6,884 |
Cash Flow
| Cash Flow (MXN Million) | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Earnings Before Tax | 440 | 497 | 562 | 587 | 539 |
| Cash Flow From (Used In) Operating Activities | 169 | 239 | 463 | 71 | (2,823) |
| Cash Flow From Investment Activities | (35) | (49) | (121) | (90) | 13 |
| Cash Flow From Financing Activities | 907 | (640) | (475) | 815 | 3,168 |
| Cash and Cash Equivalents at the Beginning of the Period | 252 | 1,293 | 844 | 711 | 1,507 |
| Increase (Decrease) in Cash and Cash Equivalents | 1,041 | (449) | (133) | 797 | 358 |
| Cash and Cash Equivalents at the End of the Period | 1,293 | 844 | 711 | 1,507 | 1,865 |
Growth and Profitability
| Growth and Profitability (Percentage) | 2020 | 2021 | 2022 | 2023 | 2024 Proforma |
|---|---|---|---|---|---|
| Revenue Growth | (2.5%) | 14.0% | 4.7% | 10.6% | 4.1% |
| EBITDA Growth | (29.7%) | 12.3% | 9.7% | 16.3% | 7.3% |
| Gross Margin | 29.8% | 29.1% | 30.2% | 31.1% | 32.2% |
| Operating Margin | 15.5% | 15.5% | 16.2% | 17.2% | 15.9% |
| EBITDA Margin | 16.8% | 16.6% | 17.4% | 18.3% | 17.8% |
| Net Margin | 9.4% | 9.1% | 9.5% | 9.1% | 8.1% |
Proforma results include 12 months of Vinte + 12 months of Javer.
Financial Ratios
| Financial Ratios (Times) | 2020 | 2021 | 2022 | 2023 | 2024 Proforma |
|---|---|---|---|---|---|
| Current Assets/ Current Liabilities | 3.79 | 3.29 | 3.35 | 3.74 | 2.08 |
| Current Assets/ Total Liabilities | 0.95 | 0.96 | 1.01 | 0.92 | 0.81 |
| Total Liabilities/ Shareholders’ Equity | 1.14 | 1.18 | 1.15 | 1.42 | 2.35 |
| Gross Debt/ EBITDA LTM | 4.71 | 4.01 | 3.73 | 4.61 | 3.37 |
| Net Debt/ EBITDA LTM | 2.60 | 2.79 | 2.79 | 2.90 | 2.64 |
| Net Debt/Equity | 0.37 | 0.44 | 0.46 | 0.53 | 0.97 |
| Cobertura de intereses* | 7.70 | 6.34 | 5.51 | 3.66 | 4.20 |
| ROE (%) | 8.6% | 8.6% | 9.2% | 9.4% | 20.2% |
| ROIC (%)** | 10.6% | 11.3% | 11.7% | 12.5% | 24.2% |
*Includes financial costs net of capitalized interests.
**Invested capital was calculated using Working Capital as denominator.
Proforma results include 12 months of Vinte + 12 months of Javer.
