La Comer (LACOMER UBC) Q4 2025 earnings summary

Executive summary

• Q4 2025 net sales rose 9.5% YoY to MXN 12,503m; same-store sales grew 6.4%, operating profit rose 25.3%, and net income increased 24.1%.

• FY2025 net sales increased 10.0% to MXN 47,625m; EBITDA grew 15.2% to MXN 5,181m and net income rose 13.9% to MXN 2,685m.

• Growth reflected performance across formats and categories, successful promotions, product differentiation, and inventory management.

Financial highlights

• Q4 gross profit rose 11.3% to MXN 3,809m; operating profit increased 25.3% to MXN 713m, EBITDA 18.4% to MXN 1,110m, and net income 24.1% to MXN 506m.

• Q4 gross margin was 30.5%, up 51 bps YoY; operating margin was 5.7% and EBITDA margin was 8.9%.

• FY2025 gross profit rose 12.0% to MXN 14,184m; gross margin was 29.8% versus 29.3% in 2024.

• FY2025 operating profit increased 18.7% to MXN 3,564m, with a 7.5% margin; EBITDA margin was 10.9%.

Outlook and guidance

• 2026 plans call for 6–8 new stores and a network of more than 100, prioritizing Fresko and City Market; planned mix is La Comer 50%, City Market 25%, and Fresko and Sumesa combined 25%.

• Planned 2026 CapEx is MXN 4–5 billion, above prior years, with spending dependent on projects opened during the year.

• Priorities include supply-chain capability, omnichannel growth, store execution, process simplification, and profitable footprint expansion.

• Sumesa is set for a relaunch and planned expansion as a neighborhood-store format.