Vinte Viviendas Integrales (VINTE) Q2 2026 earnings summary

Executive summary

• Q2’26 revenue rose 10.9% YoY and EBITDA 6.6%; gross margin expanded to 33.6% from 32.5%, while net income fell 10.3%.

• Average selling price increased 24.4% YoY, offsetting a 10.4% decline in titled homes; ROIC was 18% versus WACC below 12%.

• H1’26 revenue grew 9.1%, EBITDA 11.7%, net income 6.6% and EPS 6.4%, in line with the business plan.

Financial highlights

• Q2’26 revenue was Ps.4,063.4 million, gross profit Ps.1,366.6 million and EBITDA Ps.690.1 million; EBITDA margin was 17.0% versus 17.7% YoY.

• Q2’26 net income was Ps.329.7 million, down 10.3%; controlling-interest income was Ps.330.4 million, down 9.8%, and EPS was Ps.1.17, down 10.5%.

• H1’26 revenue reached Ps.7,567.1 million, EBITDA Ps.1,307.2 million and net income Ps.634.2 million; EPS rose to Ps.2.26 from Ps.2.12.

• Q2’26 gross profit rose 14.6% YoY as cost of sales excluding interest grew 9.1%; SG&A increased 24.7%.

Outlook and guidance

• FY26 plan targets 10% revenue growth, lower leverage and dividend payments; priorities are realizing synergies, improving margins and prudent capital allocation.

• Four new developments opened in H1’26, including two in Q2; additional openings are planned for coming months, focused on middle-income and residential housing.