Promotora y Operadora de Infraestructura S. A. B. (PINFRA) Q4 2024 earnings summary

Executive summary

• Consolidated revenues reached $5,014.2 million MXN in 4Q24, up 19% year-over-year, driven by strong performance in highways and construction segments.

• Net income rose 54% to $3,183.4 million MXN, with a net margin of 63%, supported by favorable FX effects and organic business growth.

• Major infrastructure projects advanced, including highway expansions and new concessions, with significant investments planned through 2026.

• A cash dividend of $1 billion MXN was paid in January 2025.

Financial highlights

• EBITDA (UAFIDA) increased 10% year-over-year to $3,228.5 million MXN, margin at 64%.

• Operating income grew 9% to $2,918.5 million MXN, margin at 58%.

• Operating cash flow decreased 3% to $2,236.2 million MXN.

• Construction segment revenues surged 169% year-over-year, reaching $1,058 million MXN.

• Plant segment revenues fell 60% due to lower production and sales.

Outlook and guidance

• Multiple highway and infrastructure projects underway, with completion dates ranging from 2025 to 2026 and total investments exceeding $18 billion MXN.

• Tariff increases authorized in January 2025 are expected to regularize revenue growth in affected concessions.