Promotora y Operadora de Infraestructura S. A. B. (PINFRA) Q1 2026 earnings summary

Executive summary

• Consolidated revenues reached $5,449.1 million pesos in 1Q26, up 18% year-over-year, driven by toll road performance, construction activity, and higher asphalt mix sales, despite the absence of IPM revenues after the Altamira port sale.

• Net income rose 36% to $2,212.3 million pesos, mainly due to a favorable comprehensive financing result.

• The company operates 23 concession titles, including 30 toll roads, and continues to expand its infrastructure portfolio with several major projects underway.

Financial highlights

• EBITDA increased 4% to $3,179.6 million pesos; excluding IPM, growth would have been 8.1%.

• Operating income was $2,937.2 million pesos, up 4% year-over-year; excluding IPM, growth would have been 8.5%.

• Operating cash flow was $2,147.8 million pesos, down 18% from 1Q25.

• Cost of sales rose 45% and administrative expenses increased 39% year-over-year.

• Total assets reached $97,811.5 million pesos, up 3% from 4Q25.

Outlook and guidance

• Inflation-related toll rate increases for federal toll roads were authorized in April 2026 and will impact future quarters, not 1Q26.

• Major expansion projects, including Armería-Manzanillo, Michoacán Package, Macrolibramiento Sur Colima, and Colima-Armería, are progressing with completion dates ranging from late 2026 to 2027.

• The company is preparing for ISSB (IFRS) ESG reporting requirements for BMV-listed companies by fiscal year-end 2026.