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Grupo México (GMEXICOB) investor relations material
Grupo México Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary27 Oct, 2025
Executive summary
Achieved strong financial performance in 3Q25, with double-digit revenue and EBITDA growth year-over-year, supported by robust mining operations and improved cost efficiency.
Revenues for the first nine months of 2025 reached $13.02 billion, up 5.7% year-over-year, driven by higher mining sales and commodity prices, despite declines in transportation and infrastructure revenues.
Maintained a solid balance sheet with low leverage, high fixed-rate debt, and significant cash reserves.
Advanced major mining projects in Peru, Spain, and Mexico, with key permits and construction milestones reached.
Continued progress in ESG initiatives, including improved sustainability ratings, emissions reductions, and community health programs.
Financial highlights
3Q25 revenue rose 11.3% year-over-year to $4.59B; 9M25 revenue up 5.7% to $13.02B.
3Q25 EBITDA increased 15.3% to $2.51B; 9M25 EBITDA up 9.4% to $7.08B.
Net income for the first nine months was $3.31 billion, up 12.9% year-over-year; profit margin improved to 25.4%.
Net cash cost per pound of copper improved 17.9% year-over-year to $0.92 in 9M25; 3Q25 cost was $0.78.
Dividend per share for 3Q25 was MXN 1.50, with a 52.5% payout ratio and 4.0% yield.
Outlook and guidance
Mining division expects a copper market deficit in 2025, driven by low inventories and new demand from decarbonization and AI technologies.
Ongoing capital investment program could exceed $27 billion this decade, with major projects in Peru, the U.S., Spain, and Mexico.
Transportation division projects 2–3% volume growth and 5–7% revenue growth in 2026.
CAPEX guidance for transportation set at $472.7M for 2026.
Tia Maria project in Peru is 23% complete, with operations expected to start in 2027.
Impact of prioritizing byproduct metals on copper output
PEMEX rig suspension impact on Infrastructure EBITDA
Regulatory hurdles for Mexico's $10.2B mining projects
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Next Grupo México earnings date
Q4 20255 Feb, 2026
Next Grupo México earnings date
Q4 20255 Feb, 2026
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Frequently asked questions
Grupo México S.A.B. de C.V. is a diversified conglomerate with operations in mining, transportation, and infrastructure. It is a major producer of copper and operates railway and construction services in Mexico and the United States. The company is headquartered in Mexico City, Mexico, and its shares are listed on the BMV.
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