Promotora y Operadora de Infraestructura S. A. B. (PINFRA) Q3 2025 earnings summary

Executive summary

• Consolidated revenue for 3Q25 reached MXN 4,993.2 million, up 13% year-over-year, driven by toll road and construction segment growth.

• EBITDA surged 368% to MXN 14,492.4 million, mainly due to the gain from the sale of the Altamira Port Terminal.

• Net income rose 326% to MXN 9,606.2 million, reflecting the one-time gain from the IPM sale.

• Toll roads contributed 73% of revenue, with a 7% increase in segment revenue and 2% growth in average daily traffic.

• Construction segment revenue grew 120% year-over-year, supported by major ongoing projects.

Financial highlights

• Operating income was MXN 14,194.7 million, up 403% from 3Q24, due to the Altamira Port sale.

• Cash flow from operations reached MXN 17,046 million, a 459% increase year-over-year.

• Gross margin for 3Q25 was 50%, and net margin was 192%.

• Excluding the IPM sale, EBITDA would have been MXN 2,760.5 million, 11% lower than 3Q24, mainly due to higher maintenance costs.

Outlook and guidance

• Major expansion and construction projects are underway, including Armería-Manzanillo, Michoacán Package, South Colima Bypass, Rumbo Nuevo, and Colima-Armería, with completion dates ranging from 2025 to 2027.

• Continued focus on ESG strategy and alignment with ISSB (IFRS) standards for future reporting.