—Consolidated revenue increases 12%, to Ps.42,219 million as a result of strong dynamism in financial income—
—The consolidated gross portfolio grows 16%, to Ps.165,666 million—
—11% increase in consolidated deposits, to Ps.216,631 million, reaffirms solid prospects for the financial business, with optimal cost of funding—
MEXICO CITY, April 25, 2023 /PRNewswire/ — Grupo Elektra, S.A.B. de C.V. ELEKTRA, Latin America’s leading specialty retailer and financial services company, and the largest non-bank provider of cash advance services in the United States, today announced first quarter 2023 results.
First quarter results
Consolidated revenue grew 12% to Ps.42,219 million in the period, compared to Ps.37,532 million in the same quarter of the previous year. Operating costs and expenses were Ps.36,062 million, from Ps.31,911 million in 2022.
As a result, EBITDA was Ps.6,158 million, 10% higher compared to Ps.5,622 million a year ago. Operating income was Ps.3,767 million this quarter, 45% above Ps.2,606 million in the same period of 2022.
The company reported net income of Ps.459 million, compared to a loss of Ps.4,615 million a year ago.
|
1Q 2022 |
1Q 2023 |
Change |
||
|
Ps. |
% |
|||
|
Consolidated revenue |
$37,532 |
$42,219 |
$4,687 |
12 % |
|
EBITDA |
$5,622 |
$6,158 |
$537 |
10 % |
|
Operating profit |
$2,606 |
$3,767 |
$1,162 |
45 % |
|
Net result |
$(4,615) |
$459 |
$5,075 |
— |
|
Net result per share |
$(20.43) |
$2.07 |
$22.50 |
— |
Figures in millions of pesos
EBITDA: Earnings Before Interest, Taxes, Depreciation and Amortization.
As of March 31, 2022, Elektra* outstanding shares were 225.9 million and as of March 31, 2023, were 221.4 million.
Revenue
Consolidated revenue increased 12% in the period, as a result of a 23% growth in financial revenues and a 2% decrease in commercial sales.
The increase in financial income — to Ps.26,699 million, from Ps.21,715 million the previous year — reflects, to a large extent, a 31% increase in the income of Banco…
The post GRUPO ELEKTRA ANNOUNCES 10% GROWTH IN EBITDA, TO Ps.6,158 MILLION IN THE FIRST Q… – Press Release appeared first on CaymanMama.com.
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