Grupo Pochteca (POCHTEC B ) Q1 2025 earnings summary

Executive summary

• Q1 2025 sales rose 4.0% YoY to MXN 2,047m; gross margin expanded 50 bps to 21.6%, while EBITDA fell 21.0% to MXN 44m and net loss narrowed to MXN 41m.

• Management linked operating pressure to constrained Mexican inventory availability and a cost base sized for historically higher sales; liquidity and debt restructuring are expected to support recovery.

Financial highlights

• Sales were MXN 2,047m, up 4.0% YoY; gross profit increased 6.7% to MXN 443m.

• Operating loss widened to MXN 16m from MXN 3m; operating margin declined to -0.8% from -0.2%.

• EBITDA declined 21.0% to MXN 44m; EBITDA margin fell 60 bps to 2.2%.

• Net financial expenses narrowed 66.7% to MXN 33m; pre-tax loss improved to MXN 49m from MXN 101m, and net loss improved to MXN 41m from MXN 68m.

Outlook and guidance

• Management expects liquidity from completed and pending debt restructuring to restore access to credit tools previously restricted after UIF blocking measures.

• Management expects sales to recover toward historical levels as liquidity improves, with operating expenses resized to restore profitability.

• Management expects net debt/EBITDA to improve gradually if EBITDA continues its upward trend in 2025.