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Alsea (ALSEA) investor relations material
Alsea Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary23 Oct, 2025
Executive summary
Net sales rose 5.7% year-over-year to MXN 21.1 billion, with 4.1% same-store sales growth and 1.8% EBITDA growth, though EBITDA margin declined by 50 bps year-over-year.
Net income surged 559% year-over-year to MXN 512 million, mainly due to a positive non-cash FX effect on USD-denominated debt.
Digital sales accounted for 37.4% of total sales, growing 10.8% year-over-year to MXN 7.3 billion, with 35.3 million digital orders and 24.6 million loyalty orders.
September saw a notable consumption slowdown across all regions, impacting guidance for the remainder of the year.
Strategic priorities include disciplined organic growth, brand portfolio optimization, profitability enhancement, and disciplined capital allocation.
Financial highlights
Sales in Mexico rose 7.5% to MXN 11.5 billion; Europe up 8.2% to MXN 6.5 billion (3.8% in euros); South America down 4.7% to MXN 3.1 billion.
Adjusted EBITDA post-IFRS 16 was MXN 4.4 billion with a 20.9% margin; EBITDA margin contracted by 50 bps to 13.7%.
EPS for the quarter was MXN 0.64, up 177% year-over-year.
Cash position at quarter-end was MXN 4.7 billion.
Free cash flow for the first nine months was negative MXN 2,937 million, mainly due to higher interest expenses and business seasonality.
Outlook and guidance
2025 guidance revised: now expecting high single-digit top line growth and low single-digit EBITDA growth due to weaker consumption and peso appreciation.
180–220 new store openings and approximately MXN 6 billion in CAPEX planned for 2025.
Leverage ratio guidance maintained at 2.6–2.8x pre-IFRS 16 and 3.0–3.2x post-IFRS 16.
Elaborate on the impact of MXN appreciation on sales guidance.
Strategy for 48% debt maturing in 2025?
Address South America's EBITDA decline drivers.
September slowdown impact on Q4?
Remodeling strategy and sales lift details
2026 debt refinancing savings outlook
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Frequently asked questions
Alsea S.A.B. de C.V., established in 1997, is an operator of multi-brand restaurants across Latin America and Europe. The company manages a diverse portfolio of internationally recognized brands such as Domino's Pizza, Starbucks, Burger King, and Chili's Grill & Bar among others. Alsea operates these brands through various formats including quick service, coffee shops, fast casual, casual dining, and family dining segments. The company supports its operations through a Shared Services Center which provides administrative, supply chain, and developmental processes. Alsea is headquartered in Mexico City, Mexico, and its shares are listed on the Mexican Stock Exchange.
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