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Grupo Carso (GCARSOA1) investor relations material
Grupo Carso Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Consolidated sales reached ARS 46.3 billion, down 1.6% year-over-year, with mixed performance across divisions.
Operating income rose 12.1% to ARS 6.3 billion, supported by a one-time gain from the $620 million sale of Giant Cement Holding Inc.
EBITDA increased 18.8% year-over-year to ARS 8.5 billion, with margin improving from 15.2% to 18.4%.
Controlling net income dropped 42.3% to ARS 2.7 billion, mainly due to foreign exchange losses.
Four divisions posted revenue growth, offsetting a 29% drop in Infrastructure and Construction sales.
Financial highlights
Grupo Condumex, Grupo Sanborns, Elementia Fortaleza, and Carso Energy posted revenue growth of 8.9%, 2.9%, 4.4%, and 6.5% respectively.
San Majal/Zamajal contributed ARS 476 million in additional revenue.
Carso Infrastructure and Construction sales fell 29% due to fewer bids and project completions.
Extraordinary income of ARS 1.9 billion from asset sale boosted results.
Comprehensive financing result was a Ps. 2,141 million expense, versus a Ps. 1,324 million gain last year.
Outlook and guidance
Forward-looking statements highlight risks and uncertainties that may cause actual results to differ materially.
Zamajal expects to exceed 25,000 barrels/day production next year.
Five 3,000HP drilling rigs to work for PEMEX, with more rigs expected.
Carso Energy began construction of the 416 km Centauro del Norte Gas Pipeline.
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