Grupo Pochteca (POCHTEC B ) Q4 2024 earnings summary

Executive summary

• 4Q24 sales rose 17.8% YoY to MXN 2,158m; gross margin expanded 460 bps to 21.4%, and EBITDA recovered to MXN 82m from a loss of MXN 51m.

• Net loss narrowed to MXN 77m from MXN 138m in 4Q23; full-year sales fell 1.4% to MXN 8,413m while EBITDA rose to MXN 343m from MXN 92m.

Financial highlights

• 4Q24 gross profit increased 49.8% YoY to MXN 461m; operating income was MXN 23m versus an operating loss of MXN 108m.

• FY24 operating income was MXN 109m versus a loss of MXN 131m in FY23; net loss narrowed 14.7% to MXN 241m.

• 4Q24 net financial expense increased to MXN 139m from MXN 32m, including higher FX losses and interest expense.

Outlook and guidance

• Management expects to complete the remaining debt restructuring in the first months of 2025; completion is expected to improve access to credit tools restricted after the UIF block.

• Management expects currency depreciation against the U.S. dollar in operating countries to benefit gross margin in 1Q25.