Corpovael (CADUA) Q4 2025 earnings summary

Executive summary

• Achieved double-digit revenue growth and positive free cash flow for FY2025, meeting guidance for over 5% growth in total revenue and EBITDA.

• Homes sold in 4Q25 surged 173.7% year-over-year, driven by affordable entry-level segment and mortgage origination improvements.

• Net income for FY2025 rose 77.4% year-over-year, with strong performance in Quintana Roo and new developments in Jalisco.

• Disciplined capital allocation led to a 21.2% reduction in total debt and improved leverage ratios.

• ESG initiatives advanced, with over 2,400 homes EDGE certified and multiple sustainability awards received.

Financial highlights

• Total revenue in 4Q25 was MXN 1,771 million, up 48.1% year-over-year; FY2025 revenue reached MXN 5,088 million, up 13.4%.

• Net income in 4Q25 was MXN 138 million (+96.4% YoY); FY2025 net income was MXN 412 million (+77.4% YoY).

• EBITDA in 4Q25 was MXN 234 million (+18.4% YoY); FY2025 EBITDA was MXN 785 million (+9.7% YoY).

• Free cash flow in 4Q25 was MXN 509 million (vs. -MXN 160 million in 4Q24); FY2025 free cash flow was MXN 790 million (+285.4% YoY).

• EPS for FY2025 was MXN 1.36, up 81.4% year-over-year.

Outlook and guidance

• FY2026 guidance projects total revenue and EBITDA growth rates above 5%.

• Prudent stance maintained amid challenging economic growth environment, leveraging financial strength and cash flow generation.