Promotora y Operadora de Infraestructura S. A. B. (PINFRA) Q2 2025 earnings summary

Executive summary

• Consolidated revenue for 2Q25 reached MXN 4,934.8 million, up 14% year-over-year, driven by toll road and construction segment growth.

• EBITDA increased 10% to MXN 3,172.9 million, with a margin of 64%.

• Net income rose 8% to MXN 2,138.1 million, with a 43% margin.

• Operating cash flow decreased 15% to MXN 2,617.2 million.

• Sale of Infraestructura Portuaria Mexicana (IPM) completed in July 2025, with pro forma financials reflecting the transaction.

Financial highlights

• Toll road concessions contributed 72% of revenue, increasing 7% year-over-year.

• Construction segment revenue surged 67% to MXN 960 million, representing 19% of total revenue.

• Plants segment revenue declined 4% to MXN 44.4 million.

• Comprehensive financing result shifted to a net expense of MXN 80.3 million from a net gain of MXN 1,030.9 million, mainly due to FX losses.

• Total assets stood at MXN 84,739.0 million; shareholders' equity at MXN 68,037.3 million.

Outlook and guidance

• Multiple major infrastructure projects underway, including Armería-Manzanillo, Michoacán Package, South Colima Bypass, Rumbo Nuevo, and Colima-Armería expansions, with completion dates ranging from 2025 to 2027.

• Continued focus on expanding and modernizing toll road network and related infrastructure.