MercadoLibre (MELI) Investor presentation summary

2024 performance

• Net revenue and financial income reached $20.8B, up 34% YoY and 71% FXN; income from operations was $2.6B, with a 12.7% margin.

• Net income was $1.9B, with a 9.2% margin; adjusted free cash flow was $1.3B.

• Q4'24 net revenue and financial income reached $6.1B, up 37% YoY and 96% FXN; net income was $639M.

Commerce and fintech

• 2024 GMV was $51.5B, up 15% YoY; items sold totaled 1.8B, up 27%, and total TPV reached $196.7B, up 69% FXN.

• The marketplace had 100M unique active buyers; Mercado Pago had 61M monthly active users and $197B in 2024 TPV.

• Credit portfolio reached $6.6B, up 74% YoY; assets under management were $10.6B, up 129% YoY.

• 94% of marketplace items were shipped through the logistics network; 75% of items were delivered within 48 hours in 2024.

Cash and capital

• Available cash and investments reached $4.8B at year-end 2024, alongside a $400M revolving credit facility.

• Adjusted free cash flow was $1.3B after nearly $3B of net fintech investment and $860M of capex.

• Fitch upgraded the credit rating to BBB- with a stable outlook in October 2024; S&P affirmed BB+ and revised its outlook to positive in June.