Corporación Moctezuma (CMOCTEZ) Q4 2025 earnings summary

Executive summary

• FY2025 results remained close to FY2024 despite a slowdown in construction: net sales rose 2.9%, operating income 6.0% and EBITDA 6.2%; controlling net income fell 4.0%.

• Commercial planning, cost controls and a self-funded operating model helped limit the impact of weaker construction activity; year-end cash and equivalents were MXN 7,922 million.

Financial highlights

• FY2025 net sales were MXN 20,379 million, up 2.9% YoY; gross profit was MXN 13,180 million, up 3.1%.

• Operating income was MXN 8,584 million, up 6.0%; EBITDA was MXN 9,362 million, up 6.2%.

• Controlling net income was MXN 6,261 million, down 4.0%; Q4 net sales rose 14.0% YoY to MXN 5,266 million and Q4 operating income rose 17.0% to MXN 2,007 million.

• Q4 controlling net income was MXN 1,521 million, up 7.7% YoY; Q4 EBITDA was MXN 2,214 million, up 15.1%.

Outlook and guidance

• Strategy centers on customer service, cost and expense control, operational efficiency, infrastructure modernization and sustainability under Roadmap 2030.

• OECD projected Mexican GDP growth of 1.2% in 2026 and 1.7% in 2027; IMF projected 1.5% and 2.1%, respectively.

• IMF projected global growth of 3.3% in 2026 and 3.2% in 2027, with global inflation declining to 3.8% and 3.4%, respectively.