GRUPO ELEKTRA ANNOUNCES EBITDA OF Ps.6,129 MILLION AND OPERATING INCOME OF Ps.3,714 MILLION IN THE SECOND QUARTER OF 2025
MÉXICO CITY, July 28, 2025 /PRNewswire/ -- Grupo Elektra, S.A.B. de C.V. (BMV: ELEKTRA* Latibex: XEKT), 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 second quarter 2025 results.
Second quarter results
Consolidated revenue was Ps.50,864 million, compared to Ps.48,183 million in the same quarter of the previous year. Operating costs and expenses totaled Ps.44,736 million, up from Ps.41,857 million in the same quarter of 2024.
As a result, EBITDA was Ps.6,129 million, compared to Ps.6,326 million a year ago. Operating income was Ps.3,714 million, up from Ps.3,996 million in the same period of 2024.
The company reported a net income of Ps.2,696 million, compared to a loss of Ps.644 million a year ago.
Q2 2024 | Q2 2025 | Change | ||
Ps. | % | |||
Consolidated revenue | $48,183 | $50,864 | $2,681 | 6 % |
EBITDA | $6,326 | $6,129 | $(198) | (3) % |
Operating profit Net result | $3,996 $(644) | $3,714 $2,696 | $(283) $3,340 | (7)% ----- |
Net result per share | $(2.92) | $12.99 | $15.91 | ----- |
Figures in millions of pesos.
EBITDA: Earnings Before Interest, Taxes, Depreciation and Amortization.
As of June 30, 2024, Elektra* outstanding shares were 220.3 million and as of June 30, 2025, were 207.6 million.
Revenue
Consolidated revenue for the quarter is comprised of Ps.31,544 million in financial business revenue and Ps.19,320 million in commercial business revenue, while a year ago, financial business revenue was Ps.29,242 million and commercial business revenue was Ps.18,941 million.
Costs and expenses
Consolidated costs were Ps.22,680 million, up from Ps.22,923 million in the previous year, while sales, administrative and promotion expenses totaled Ps.22,056 million, compared to Ps.18,934 million in the same period 2024.
EBITDA and net result
EBITDA was Ps.6,129 million, up from Ps.6,326 million the previous year.
Relevant changes below EBITDA were as follows:
An increase of Ps.94 million in depreciation and amortization, largely due to an increase in fixed assets in use.
An increase of Ps.68 million in interest expense, resulting from a higher balance of debt with cost at the end of the quarter compared to the previous year.
A gain of Ps.584 million in foreign exchange this quarter, compared to a foreign exchange loss of Ps.664 million a year ago, as a result of a net liability monetary position, combined with the appreciation of the peso against the dollar this period, compared to depreciation the previous year.
A positive variation of Ps.3,740 million in other financial results, reflecting an 8% gain this quarter in the market value of the underlying financial instruments held by the company — and which do not imply cash flow — compared to an 8% loss a year ago.
Consistent with the quarter's results, there was an increase of Ps.1,573 million in tax provision for the period.
Grupo Elektra reported a net income of Ps.2,696 million, compared to a net loss of Ps.644 million a year ago.
Unconsolidated balance sheet
A proforma balance sheet exercise of Grupo Elektra is presented, which allows to know the non-consolidated financial situation, excluding the net assets of the financial business.
In line with the above, debt with cost as of June 30, 2025, was Ps.40,710 million, compared to Ps.38,706 million the previous year. The increase reflects the issuance of fiduciary certificates and credit drawdown this period.
Cash and cash equivalents were Ps.8,472 million, up from Ps.12,109 million a year earlier, and net debt was Ps.32,238 million, compared to Ps.26,597 million a year ago.
As of June 30, | As of June 30, | Change | ||||
Ps. | % | |||||
Cash and cash equivalents | $12,109 | $8,472 | (3,637) | (30 %) | ||
Marketable financial instruments | 26,832 | 22,365 | (4,467) | (17 %) | ||
Inventories | 17,089 | 23,875 | 6,786 | 40 % | ||
Accounts receivables | 49,616 | 34,630 | (14,986) | (30 %) | ||
Other current assets | 3,620 | 2,691 | (929) | (26 %) | ||
Investments in shares | 42,890 | 50,726 | 7,836 | 18 % | ||
Fixed assets | 8,542 | 7,910 | (632) | (7 %) | ||
Right of use assets | 12,080 | 13,445 | 1,365 | 11 % | ||
Other assets | 5,933 | 12,761 | 6,828 | 115 % | ||
Total assets | $178,711 | $176,875 | ($1,836) | (1 %) | ||
Debt with cost | $38,706 | $40,710 | 2,004 | 5 % | ||
Suppliers | 9,971 | 11,103 | 1,132 | 11 % | ||
Other short-term liabilities | 21,460 | 21,517 | 57 | 0 % | ||
Other long-term liabilities | 16,443 | 22,352 | 5,909 | 36 % | ||
Total liabilities | $86,580 | $95,682 | $9,102 | 11 % | ||
Stakeholder´s equity | $92,131 | $81,193 | ($10,938) | (12 %) | ||
Liabilities and equity | $178,711 | $176,875 | ($1,836) | (1 %) | ||
Figures in millions of pesos
Consolidated Balance Sheet
Loan Portfolio and Deposits
The consolidated gross loan portfolio of Banco Azteca Mexico, Purpose Financial, and Banco Azteca Latinoamerica as of June 30, 2025, was Ps.201,647 million, up from Ps.180,327 million the previous year. The consolidated non-performing loan ratio was 4.4% at the end of the period, compared to 3.8% the previous year.
Banco Azteca Mexico's gross loan balance was Ps.193,792 million, up from Ps.173,266 million a year ago. The bank's delinquency ratio at the end of the period was 4.1%, compared to 3.2% the previous year.
Grupo Elektra's consolidated deposits totaled Ps.248,988 million, compared to Ps.228,782 million a year ago. Banco Azteca México's traditional deposits totaled Ps.241,451 million, up from Ps.224,808 million the previous year.
Banco Azteca Mexico's capitalization ratio was 14.71%.
Company Profile:
Grupo Elektra is Latin America's leading financial services company and specialty retailer and the largest non-bank provider of cash advance services in the United States. The group operates more than 6,000 points of contact in México, the United States, Guatemala, Honduras, and Panama.
Grupo Elektra is a Grupo Salinas company (www.gruposalinas.com), a group of dynamic, fast-growing, and technologically advanced companies focused on creating economic value through market innovation and goods and services that improve standards of living; social value to improve community well-being; and environmental value by reducing the negative impact of its business activities. Created by Mexican entrepreneur Ricardo B. Salinas (www.ricardosalinas.com), Grupo Salinas operates as a management development and decision forum for the top leaders of member companies. These companies include TV Azteca (www.TVazteca.com; www.irtvazteca.com), Grupo Elektra (www.grupoelektra.com.mx), Banco Azteca (www.bancoazteca.com.mx), Purpose Financial (havepurpose.com), Afore Azteca (www.aforeazteca.com.mx), Seguros Azteca (www.segurosazteca.com.mx), Punto Casa de Bolsa (www.puntocasadebolsa.mx), Total Play (irtotalplay.mx; www.totalplay.com.mx) and Total Play Empresarial (totalplayempresarial.com.mx). TV Azteca and Grupo Elektra trade shares on the Mexican Stock Market and in Spain's' Latibex market. Each of the Grupo Salinas companies operates independently, with its own management, board of directors and shareholders. Grupo Salinas has no equity holdings. The group of companies shares a common vision, values, and strategies for achieving rapid growth, superior results, and world-class performance.
Except for historical information, the matters discussed in this press release are concepts about the future that involve risks and uncertainty that may cause actual results to differ materially from those projected. Other risks that may affect Grupo Elektra and its subsidiaries are presented in documents sent to the securities authorities.
Investor Relations: | ||
Bruno Rangel Grupo Salinas Tel. +52 (55) 1720-9167 | Rolando Villarreal Grupo Elektra, S.A.B. de C.V. Tel. +52 (55) 1720-9167 | |
Press Relations: Luciano Pascoe Tel. +52 (55) 1720 1313 ext. 36553 | ||
GRUPO ELEKTRA, S.A.B. DE C.V. AND SUBSIDIARIES | ||||||||||
CONSOLIDATED INCOME STATEMENTS | ||||||||||
MILLIONS OF MEXICAN PESOS | ||||||||||
2Q24 | 2Q25 | Change | ||||||||
Financial income | 29,242 | 61 % | 31,544 | 62 % | 2,302 | 8 % | ||||
Commercial income | 18,941 | 39 % | 19,320 | 38 % | 379 | 2 % | ||||
Income | 48,183 | 100 % | 50,864 | 100 % | 2,681 | 6 % | ||||
Financial cost | 9,425 | 20 % | 9,038 | 18 % | (388) | -4 % | ||||
Commercial cost | 13,497 | 28 % | 13,642 | 27 % | 145 | 1 % | ||||
Costs | 22,923 | 48 % | 22,680 | 45 % | (243) | -1 % | ||||
Gross income | 25,260 | 52 % | 28,185 | 55 % | 2,924 | 12 % | ||||
Sales, administration and promotion expenses | 18,934 | 39 % | 22,056 | 43 % | 3,122 | 16 % | ||||
EBITDA | 6,326 | 13 % | 6,129 | 12 % | (198) | -3 % | ||||
Depreciation and amortization | 2,333 | 5 % | 2,428 | 5 % | 94 | 4 % | ||||
Other income, net | (3) | 0 % | (12) | 0 % | (9) | -100 % | ||||
Operating income | 3,996 | 8 % | 3,714 | 7 % | (283) | -7 % | ||||
Comprehensive financial result: | ||||||||||
Interest income | 479 | 1 % | 375 | 1 % | (104) | -22 % | ||||
Interest expense | (1,442) | -3 % | (1,510) | -3 % | (68) | -5 % | ||||
Foreign exchange (loss) gain, net | (664) | -1 % | 584 | 1 % | 1,248 | ---- | ||||
Other financial results, net | (2,966) | -6 % | 774 | 2 % | 3,740 | ---- | ||||
(4,593) | -10 % | 224 | 0 % | 4,817 | ---- | |||||
Participation in the net income of | ||||||||||
CASA and other associated companies | (306) | -1 % | 60 | 0 % | 365 | ---- | ||||
(Loss) income before income tax | (902) | -2 % | 3,997 | 8 % | 4,899 | ---- | ||||
Income tax | 259 | 1 % | (1,314) | -3 % | (1,573) | ---- | ||||
(Loss) income before discontinued operations | (642) | -1 % | 2,683 | 5 % | 3,326 | ---- | ||||
Result from discontinued operations | (1) | 0 % | 13 | 0 % | 14 | ---- | ||||
Consolidated net (loss) income | (644) | -1 % | 2,696 | 5 % | 3,340 | ---- | ||||
GRUPO ELEKTRA, S.A.B. DE C.V. AND SUBSIDIARIES | ||||||||||
CONSOLIDATED INCOME STATEMENTS | ||||||||||
MILLIONS OF MEXICAN PESOS | ||||||||||
6M24 | 6M25 | Change | ||||||||
Financial income | 56,768 | 61 % | 65,388 | 64 % | 8,620 | 15 % | ||||
Commercial income | 35,977 | 39 % | 37,244 | 36 % | 1,267 | 4 % | ||||
Income | 92,745 | 100 % | 102,633 | 100 % | 9,887 | 11 % | ||||
Financial cost | 18,805 | 20 % | 20,164 | 20 % | 1,359 | 7 % | ||||
Commercial cost | 25,652 | 28 % | 26,065 | 25 % | 413 | 2 % | ||||
Costs | 44,457 | 48 % | 46,229 | 45 % | 1,772 | 4 % | ||||
Gross income | 48,288 | 52 % | 56,403 | 55 % | 8,115 | 17 % | ||||
Sales, administration and promotion expenses | 35,599 | 38 % | 43,336 | 42 % | 7,737 | 22 % | ||||
EBITDA | 12,689 | 14 % | 13,067 | 13 % | 378 | 3 % | ||||
Depreciation and amortization | 4,641 | 5 % | 4,817 | 5 % | 176 | 4 % | ||||
Other income, net | (15) | 0 % | (17) | 0 % | (2) | -11 % | ||||
Operating income | 8,063 | 9 % | 8,267 | 8 % | 204 | 3 % | ||||
Comprehensive financial result: | ||||||||||
Interest income | 925 | 1 % | 856 | 1 % | (69) | -7 % | ||||
Interest expense | (2,903) | -3 % | (3,061) | -3 % | (159) | -5 % | ||||
Foreign exchange (loss) gain, net | (634) | -1 % | 603 | 1 % | 1,236 | ---- | ||||
Other financial results, net | (3,637) | -4 % | 37 | 0 % | 3,674 | ---- | ||||
(6,249) | -7 % | (1,565) | -2 % | 4,683 | 75 % | |||||
Participation in the net income of | ||||||||||
CASA and other associated companies | (226) | 0 % | 51 | 0 % | 277 | ---- | ||||
Income before income tax | 1,589 | 2 % | 6,753 | 7 % | 5,164 | ---- | ||||
Income tax | (510) | -1 % | (2,206) | -2 % | (1,696) | ---- | ||||
Income before discontinued operations | 1,079 | 1 % | 4,547 | 4 % | 3,468 | ---- | ||||
Result from discontinued operations | (2) | 0 % | 14 | 0 % | 16 | ---- | ||||
Consolidated net income | 1,077 | 1 % | 4,561 | 4 % | 3,484 | ---- | ||||
GRUPO ELEKTRA, S.A.B. DE C.V. AND SUBSIDIARIES | ||||||||||
CONSOLIDATED BALANCE SHEET | ||||||||||
MILLIONS OF MEXICAN PESOS | ||||||||||
Commercial | Financial | Grupo | Commercial | Financial | Grupo | |||||
Change | ||||||||||
At June 30, 2024 | At June 30, 2025 | |||||||||
Cash and cash equivalents | 12,109 | 30,499 | 42,608 | 8,472 | 30,496 | 38,968 | (3,640) | -9 % | ||
Marketable financial instruments | 3,613 | 97,458 | 101,071 | 5,930 | 135,356 | 141,285 | 40,215 | 40 % | ||
Performing loan portfolio | - | 96,204 | 96,204 | - | 108,274 | 108,274 | 12,070 | 13 % | ||
Total past-due loans | - | 4,985 | 4,985 | - | 6,028 | 6,028 | 1,043 | 21 % | ||
Gross loan portfolio | - | 101,189 | 101,189 | - | 114,302 | 114,302 | 13,113 | 13 % | ||
Allowance for credit risks | - | 15,147 | 15,147 | - | 18,957 | 18,957 | 3,811 | 25 % | ||
Loan portfolio, net | - | 86,042 | 86,042 | - | 95,345 | 95,345 | 9,302 | 11 % | ||
Inventories | 17,089 | - | 17,089 | 23,875 | - | 23,875 | 6,786 | 40 % | ||
Other current assets | 22,362 | 12,294 | 34,656 | 23,984 | 13,840 | 37,824 | 3,168 | 9 % | ||
Total current assets | 55,173 | 226,294 | 281,467 | 62,261 | 275,036 | 337,298 | 55,831 | 20 % | ||
Financial instruments | 23,219 | 2 | 23,221 | 16,435 | 256 | 16,691 | (6,530) | -28 % | ||
Performing loan portfolio | - | 77,283 | 77,283 | - | 84,436 | 84,436 | 7,153 | 9 % | ||
Total past-due loans | - | 1,855 | 1,855 | - | 2,908 | 2,908 | 1,053 | 57 % | ||
Gross loan portfolio | - | 79,138 | 79,138 | - | 87,345 | 87,345 | 8,207 | 10 % | ||
Allowance for credit risks | - | 5,335 | 5,335 | - | 6,173 | 6,173 | 838 | 16 % | ||
Loan portfolio | - | 73,803 | 73,803 | - | 81,171 | 81,171 | 7,368 | 10 % | ||
Other non-current assets | 18,619 | 281 | 18,900 | 38 | 484 | 522 | (18,378) | -97 % | ||
Investment in shares | 2,126 | 12 | 2,138 | 2,175 | 16 | 2,191 | 53 | 2 % | ||
Property, furniture, equipment and | ||||||||||
investment in stores, net | 8,542 | 10,379 | 18,921 | 7,910 | 9,775 | 17,685 | (1,236) | -7 % | ||
Intangible assets | 699 | 7,833 | 8,532 | 598 | 9,028 | 9,626 | 1,094 | 13 % | ||
Right of use asset | 11,924 | 2,001 | 13,925 | 13,303 | 2,287 | 15,590 | 1,665 | 12 % | ||
Other assets | 5,233 | 9,477 | 14,710 | 12,163 | 12,172 | 24,335 | 9,624 | 65 % | ||
TOTAL ASSETS | 125,537 | 330,080 | 455,617 | 114,884 | 390,226 | 505,110 | 49,492 | 11 % | ||
Demand and term deposits | - | 228,782 | 228,782 | - | 248,988 | 248,988 | 20,206 | 9 % | ||
Creditors from repurchase agreements | - | 28,253 | 28,253 | - | 55,704 | 55,704 | 27,451 | 97 % | ||
Short-term debt | 9,460 | 37 | 9,497 | 11,899 | 38 | 11,937 | 2,440 | 26 % | ||
Leasing | 2,055 | 811 | 2,866 | 2,588 | 837 | 3,426 | 560 | 20 % | ||
Short-term liabilities with cost | 11,515 | 257,883 | 269,398 | 14,487 | 305,567 | 320,054 | 50,656 | 19 % | ||
Suppliers and other short-term liabilities | 29,163 | 19,956 | 49,119 | 29,839 | 23,942 | 53,781 | 4,662 | 9 % | ||
Short-term liabilities without cost | 29,163 | 19,956 | 49,119 | 29,839 | 23,942 | 53,781 | 4,662 | 9 % | ||
Total short-term liabilities | 40,678 | 277,839 | 318,517 | 44,326 | 329,508 | 373,835 | 55,318 | 17 % | ||
Long-term debt | 25,813 | 0 | 25,813 | 23,468 | - | 23,468 | (2,345) | -9 % | ||
Leasing | 11,259 | 1,235 | 12,494 | 12,246 | 1,549 | 13,795 | 1,301 | 10 % | ||
Long-term liabilities with cost | 37,072 | 1,235 | 38,307 | 35,714 | 1,549 | 37,263 | (1,044) | -3 % | ||
Long-term liabilities without cost | 5,184 | 1,478 | 6,662 | 10,106 | 2,713 | 12,819 | 6,157 | 92 % | ||
Total long-term liabilities | 42,256 | 2,713 | 44,969 | 45,820 | 4,262 | 50,082 | 5,113 | 11 % | ||
TOTAL LIABILITIES | 82,934 | 280,552 | 363,486 | 90,146 | 333,770 | 423,917 | 60,431 | 17 % | ||
TOTAL STOCKHOLDERS' EQUITY | 42,603 | 49,529 | 92,131 | 24,738 | 56,455 | 81,193 | (10,938) | -12 % | ||
LIABILITIES + EQUITY | 125,537 | 330,080 | 455,617 | 114,884 | 390,226 | 505,110 | 49,492 | 11 % | ||
INFRASTRUCTURE | ||||||||
2Q24 | 2Q25 | Change | ||||||
Points of sale in Mexico | ||||||||
Elektra | 1,227 | 20 % | 1,244 | 20 % | 17 | 1 % | ||
Salinas y Rocha | 32 | 1 % | 32 | 1 % | - | 0 % | ||
Banco Azteca | 1,921 | 31 % | 1,930 | 31 % | 9 | 0 % | ||
Freestanding branches | 1,707 | 28 % | 1,691 | 28 % | (16) | -1 % | ||
Total | 4,887 | 80 % | 4,897 | 80 % | 10 | 0 % | ||
Points of sale in Central America | ||||||||
Elektra | 120 | 2 % | 129 | 2 % | 9 | 8 % | ||
Banco Azteca | 225 | 4 % | 234 | 4 % | 9 | 4 % | ||
Freestanding branches | 64 | 1 % | 67 | 1 % | 3 | 5 % | ||
Total | 409 | 7 % | 430 | 7 % | 21 | 5 % | ||
Points of sale in North America | ||||||||
Purpose Financial | 827 | 14 % | 804 | 13 % | (23) | -3 % | ||
Total | 827 | 14 % | 804 | 13 % | (23) | -3 % | ||
TOTAL | 6,123 | 100 % | 6,131 | 100 % | 8 | 0 % | ||
Floor space (m²) | 1,740 | 100 % | 1,726 | 100 % | (13) | -1 % | ||
Employees | ||||||||
Mexico | 61,334 | 88 % | 61,670 | 88 % | 336 | 1 % | ||
Central and South America | 6,129 | 9 % | 6,223 | 9 % | 94 | 2 % | ||
North America | 2,493 | 4 % | 2,431 | 3 % | (62) | -2 % | ||
Total employees | 69,956 | 100 % | 70,324 | 100 % | 368 | 1 % | ||
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SOURCE Grupo Elektra, S.A.B. de C.V.