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3Q25 Highlights

(In USD millions)

483.5


Net sales

128.8


Operating income

157.4


EBITDA

35.9%


EBITDA margin


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Quarterly Reports

Financial Statements

Mexican pesos U.S. dollars
2018 2019 2020 2021 2022 2023 2024
Total assets 1,902,532 2,057,634 2,135,989 2,222,591 2,433,831 2,813,093 3,006,973
Current assets 534,152 653,718 830,136 953,859 1,107,379 1,289,731 1,158,734
Cash and cash equivalents 251,818 350,523 562,144 682,962 826,227 958,725 830,592
Trade accounts receivable, net 78,881 92,345 75,214 89,279 84,786 142,458 118,913
Other accounts receivable 59,311 57,637 44,983 34,103 31,826 30,283 29,741
Due from related parties 1,417 2,526 2,530 3,196 5,700 2,216 3,170
Inventories 98,215 102,810 96,522 95,692 108,041 142,020 162,066
Prepaid expenses 10,547 12,399 12,527 12,852 12,739 14,029 14,252
 
Non-current assets 1,368,380 1,403,916 1,305,853 1,268,732 1,326,452 1,523,362 1,848,239
Urban land 33,963 35,478 36,216 35,775 38,060 41,447 52,868
Equity investments 15,548 18,313 19,090 21,888 23,050 30,174 28,075
Property, machinery and equipment, net 1,027,760 1,015,909 955,592 934,110 1,002,294 1,142,871 1,445,576
Long term right of use assets - 40,531 27,954 19,803 21,223 27,020 27,590
Goodwill 246,884 240,545 212,598 212,591 212,604 212,598 218,708
Intangible assets, net 73,251 68,508 66,766 62,751 57,423 55,458 61,516
Other non-current assets 4,937 20,110 23,853 17,589 9,858 13,794 13,906
 
Total liabilities 930,316 983,097 960,847 911,609 1,010,019 1,048,842 1,053,958
Short-term liabilities 162,223 206,907 286,913 380,179 289,487 300,664 294,563
Service providers 83,223 83,625 89,079 111,873 149,604 153,735 160,700
Due to related parties 1,204 1,164 2,205 2,702 2,547 989 1,022
Short-term employee benefits 27,952 31,852 35,639 39,007 37,127 47,580 42,198
Accrued expenses and taxes other than income taxes 42,267 41,402 47,477 34,078 88,190 85,164 78,283
Provisions 3,177 2,651 2,116 2,167 3,009 3,753 3,112
Short-term right of use liabilities - 20,788 18,397 14,352 9,010 9,443 9,248
 
Long-term liabilities 768,093 776,190 673,934 531,430 720,532 748,178 759,395
Interest-bearing debt 645,936 624,566 536,851 363,383 496,684 496,986 497,300
Long-term right of use liabilities - 20,661 8,114 2,057 12,114 18,419 19,846
Employee benefits 35,536 45,944 49,937 39,830 31,479 33,186 28,541
Provision for environmental restoration 21,969 22,677 18,921 23,247 25,781 25,797 24,875
Deferred income taxes 43,786 50,943 55,233 99,814 152,533 173,790 188,833
 
Total stockholders' equity 972,216 1,074,537 1,175,142 1,310,982 1,423,812 1,764,251 1,952,344
Controlling interest 972,184 1,074,504 1,174,512 1,310,351 1,422,851 1,763,283 1,949,998
Capital stock 32,068 32,076 32,070 32,070 32,070 32,018 32,070
Additional paid-in capital 148,365 148,365 148,365 148,365 148,365 148,365 148,365
Legal reserves 22,659 22,659 22,659 22,659 22,659 22,659 22,659
Retained earnings 986,796 1,040,717 1,138,394 1,251,028 1,359,143 1,463,341 1,729,083
Net income 65,037 116,733 129,706 151,852 140,258 295,462 325,81
Other items of comprehensive income (282,741) (286,046) (296,682) (295,623) (279,644) (198,614) (305,684)
Non-controlling interest 32 33 630 631 961 968 671
 
Total liabilities and equity 1,902,532 2,057,634 2,135,989 2,222,591 2,433,831 2,813,093 3,006,973
U.S. dollars
2018 2019 2020 2021 2022 2023 2024
Net sales 883,230 934,115 937,750 1,038,804 1,168,319 1,363,917 1,366,679
U.S. sales 646,748 681,863 693,139 750,371 840,599 938,322 974,777
Mexico sales 236,482 252,252 244,611 288,433 327,719 425,595 391,902
Cost of sales 637,864 667,201 647,890 707,484 803,844 862,205 848,951
Gross profit 245,366 266,914 289,860 331,320 364,475 501,712 517,728
Selling, general and administrative expenses 75,530 83,348 78,524 90,236 96,131 119,405 118,307
Operating income before other expenses 169,836 183,566 211,336 241,084 268,344 382,307 399,421
Other (income) expenses 8,341 7,289 23,640 9,507 50,622 6,639 11,139
Operating income 161,495 176,277 187,696 231,577 217,722 375,668 388,282
Financial income 6,461 8,849 6,363 7,228 22,124 57,967 65,227
Financial expenses (50,577) (41,002) (35,814) (35,397) (38,611) (28,109) (24,207)
Exchange rate fluctuation, net (342) (4,141) 944 333 (1,780) (4,529) 6,720
Net financing products (44,458) (36,294) (28,507) (27,836) (18,267) 25,329 47,740
Share of profit of associates and joint venture 4,749 2,163 1,703 2,990 3,284 3,300 3,849
Income before income taxes taxes 121,786 142,146 160,892 206,731 202,739 404,297 439,871
(Benefits) Income taxes 16,692 25,409 31,185 54,877 62,478 108,832 114,017
Income before discontinued operations 105,094 116,737 129,707 151,854 140,261 295,465 323,918
Consolidated net income 65,039 116,737 129,707 151,854 140,261 295,465 325,854
Controlling interest 65,037 116,733 129,706 151,852 140,258 295,462 325,851
Non-controlling interest 2 4 1 2 3 3 3
EBITDA 256,361 291,972 308,281 337,678 361,591 471,536 500,435
U.S. dollars
2018 2019 2020 2021 2022 2023 2024
Operating income before other expenses 169.8 183.6 211.3 241.1 268.3 382,307 399,421
Depreciation and amortization 86.5 108.4 96.9 96.6 93.2 89,229 101,014
EBITDA 256.4 292.0 308.3 337.7 361.6 471,536 500,435
Interest income (expense) (48.1) (24.6) (21.2) (16.1) (5.2) 36,917 43,598
Decrease (Increase) in working capital (11.0) (19.0) 26.6 8.4 25.2 (70,476) (47,075)
Taxes (15.9) (21.2) (15.3) (11.8) (19.9) (73,512) (83,323)
Prepaid expenses - - - - - (1,291) (195)
Accruals and other accounts - - - - - (52,585) (6,238)
Operating leases (IFRS 16 effect) - (20.8) (19.0) (17.9) (14.9) (12,052) (12,687)
Operating cash flow 159.1 178.6 277.4 292.5 320.2 298,537 394,514
Maintenance CapEx - - - - - (64,815) (72,759)
Free cash flow 106.4 137.9 250.6 243.7 285.3 233,722 321,755
Strategic & Growth CapEx - - - - - (98,638) (264,104)
Share repurchase, net - (1.2) (5.2) (0.1) (26.4) (13,216) 119
Purchase of assets - - - - - - (101,039)
Dividends paid (12.6) (13.9) (7.0) (24.5) (19.1) (24,617) (29,958)
FX effect 1.3 3.2 1.7 (3.5) 5.0 35,246 (54,905)
Initial cash balance 232.9 251.8 350.5 562.1 683.0 826,227 958,725
Final cash balance 251.8 350.5 562.1 683.0 826.2 958,725 830,592
FCF conversion rate 41.5% 47.2% 81.3% 72.2% 78.9% 49.6% 64.3%

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