Mexican cement firm Cemex, one of many world’s largest, reported a slight drop in second-quarter web revenue on Thursday, primarily as a consequence of a detrimental alternate fee impact from the depreciation of the peso.
The corporate posted web revenue of $230 million within the quarter. Income additionally remained flat at $4.49 billion, beneath the forecast of $4.67 billion.
Elevated web gross sales in Mexico, Central and South America had been offset by declines in the USA and Europe, the Center East and Africa.
In Mexico, Cemex’s largest market, gross sales rose 6 % year-on-year, reflecting robust development in each the formal and casual building sectors.
In a name with analysts, firm executives stated the outlook is optimistic for its enterprise within the nation, regardless of the upcoming change in authorities.
Cemex has a presence in 100 nations all through the Americas, the Caribbean, Europe, Africa, the Center East and Asia.
Chedraui outcomes above estimates
The grocery store chain Chedraui reported an 8.3 % enhance in its second-quarter income, registering 2.017 billion pesos, in comparison with 1.862 billion in the identical interval final yr.
Likewise, its quarterly gross sales grew 4.5 % to 67,453 million pesos, in comparison with 64,577 million within the second quarter of 2023.
“2Q24 outcomes had been barely above our estimates. As well as, with alternate fee results which have moderated considerably, leads to the USA registered a slight enhance in revenues and income. Wanting forward, we estimate that the devaluation of the peso will proceed to favor leads to that area,” Intercam commented.
Banco del Bajío advantages from charges
Banco del Bajío stated on Thursday that it achieved a quarterly web revenue of two,847 million pesos, that’s, a rise of three.7 % in comparison with the two,746 million of the second quarter of final yr.
Within the case of curiosity revenue, the favorable variation was 9 % extra, going from 9,698 million pesos to 10,572 million pesos.
On this regard, Intercam commented that “web revenue was above our expectations and the consensus.”
He additionally stated that “among the many banks listed on the BMV, Bajío has the best sensitivity to rates of interest, which is why it has been the principle beneficiary of the restrictive financial coverage. Due to this fact, it’s pure {that a} extra average efficiency is anticipated for this yr, though charges is not going to fall as initially anticipated, they’ll stay excessive. Due to this fact, it’s now anticipated that the detrimental affect for Bajío might be extra noticeable in 2025, if additional fee cuts are made that yr.”
Megacable’s quarterly revenue falls 34.2%
The revenue of Megacable, one of many largest telecommunications corporations in Mexico and Latin America, fell 34.2 % within the second quarter of the yr, from 868 million pesos in that interval however in 2023 to 571 million this yr.
The corporate linked this to a “depreciation element” and “increased monetary bills from the difficulty of inventory certificates in March.”
That is although the corporate famous that the income collected marked a report, totaling 8,136 million pesos, a development of 10.3 %, in comparison with the 7,373 million within the second quarter of final yr.
Megacable additionally reported having reached 5.2 million distinctive subscribers, having had 88 thousand additions in comparison with the earlier quarter. In comparison with the second quarter of 2023, there have been 487 thousand additions or 10.4 % extra.
On this regard, the corporate commented in its report back to the Mexican Inventory Alternate (BMV) that “the corporate continued its constructive pattern, rising its revenues in double digits in comparison with 2Q23 and reaching a stable addition of subscribers.”
Regardless of income of 195 million {dollars}, Orbia sees “strain on outcomes”
Orbia, a Mexican firm concerned in a number of industries equivalent to building, infrastructure, information communications, irrigation and chemical substances, reported a quarterly web revenue of 195 million {dollars}, up from the 8 million reported within the second quarter of final yr.
That is although its gross sales fell by 9.2 % to $1.976 billion in comparison with $2.177 billion within the reference interval.
In accordance with Intercam, “the corporate has acknowledged that the strain on outcomes is defined by excessive rates of interest, which have an effect on demand and the delay in infrastructure initiatives, along with the excessive ranges of PVC exports from China and the USA.”
He additionally stated that Orbia felt the affect of the water scarcity that quickly affected operations in Mexico.
Orbia’s share worth has fallen by 35.5 % this yr.
Orbia operates in additional than 100 nations, with greater than 22,000 staff.
OMA makes progress; there have been fewer home passengers
Grupo Aeroportuario del Centro Norte (OMA) generated a quarterly revenue of 1,292 million pesos, that’s, a rise of 1.5 % in comparison with the 1,272 million of the second quarter of 2023.
As for its revenue, it confirmed a 1.1 % enhance, totaling 2,944 million pesos in comparison with 2,912 million within the reference interval.
Passenger visitors fell by 2.4 % to six.5 million passengers; home visitors decreased by 4.3 %, however worldwide visitors elevated by 12.4 %.
OMA operates and manages 13 worldwide airports inside 9 states in central and northern Mexico.
Posadas Group loses 250 million pesos; the occupancy fee was 63%
Grupo Posadas reported on Thursday that on the finish of the second quarter it had a web lack of 250 million pesos, which compares with the 394 million pesos revenue it obtained in the identical quarter of the earlier yr.
Quarterly revenues totaled 2.6 billion pesos, six % much less.
The occupancy fee was 63 %, with a rise in efficient charges of 1 %.
In its monetary report, the group defined: “We noticed a second quarter with decrease occupancy elements than these of the identical comparable interval in all our segments however with efficient fee development.”
He additionally highlighted that the plan is to construct 24 new accommodations.
Posadas is the main resort operator in Mexico with 197 accommodations and 29,767 rooms, distributed in metropolis and seaside locations.
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– 2024-07-27 20:37:39
