Vinte Viviendas Integrales (VINTE) Q3 2026 earnings summary

Executive summary

• 3Q'26 revenue grew 5.9% and EBITDA 13.1%; gross margin expanded 2.1 p.p. to 34.8%, while net income declined 0.6% as the effective tax rate increased.

• 9M'26 revenue rose 7.9%, EBITDA 12.3% and net income 3.8%, in line with the business plan.

• Average home price rose 17.5% in 3Q'26 to Ps.1.2 million, offsetting a 10.1% decline in titled units.

Financial highlights

• 3Q'26 revenue was Ps.4,361,109 thousand, up 5.9%; EBITDA was Ps.875,588 thousand, up 13.1%, with margin up 1.3 p.p. to 20.1%.

• 3Q'26 gross profit increased 12.7% to Ps.1,515,619 thousand; gross margin rose from 32.7% to 34.8%.

• 3Q'26 net income was Ps.377,276 thousand, down 0.6%; EPS declined 2.6% to Ps.1.32.

• 9M'26 revenue was Ps.11,928,194 thousand, up 7.9%; EBITDA reached Ps.2,182,785 thousand, up 12.3%, with margin up 0.7 p.p. to 18.3%.

• 9M'26 net income rose 3.8% to Ps.1,011,427 thousand; EPS increased 2.9% to Ps.3.58. EBITDA adjustments include share-based payments, PTU and other income related to Javer.

Outlook and guidance

• 2026 priorities include consolidating synergies, strengthening margins and disciplined capital allocation; the business plan targets ~10% revenue growth, lower leverage and positive operating cash flow.

• Management expressed optimism for year-end, with cumulative results in line with plan and expectations for continued profitable growth.