GRUPO ELEKTRA CONCLUDES ALL ITS TAX LITIGATION WITH THE MEXICAN GOVERNMENT AND ANNOUNCES ITS 2025 RESULTS
—Announces revenue of Ps.58,859 million and EBITDA of Ps.7,816 million in the fourth quarter of 2025—
—Continued dynamism in financial income; grows 9% to Ps.36,162 million in the period—
MÉXICO CITY,
As we have always done, we are fulfilling our payment obligations and, in doing so, we continue to uphold our commitment to the country.
Despite disagreeing with the amount required by the tax authorities, the company made this decision to move forward and to focus its efforts on continuing to create prosperity and value for the millions of customers it serves. In this context, the company also released today its results for the fourth quarter of 2025 and for the full year 2025.
Fourth quarter results
Consolidated revenue was Ps.58,859 million, compared to Ps.57,790 million in the same quarter of the previous year. Operating costs and expenses were Ps.51,043 million from Ps.50,348 million in the same quarter of 2024.
As a result, EBITDA was Ps.7,816 million, 5% higher compared to Ps.7,441 million a year ago. Operating profit was Ps.4,851 million from Ps.4,954 million in the same period of the previous year.
The company reported a net loss of Ps.19,859 million compared to a loss of Ps.11,656 million a year ago.
The net loss this quarter is due to income taxes of Ps.23,261 million, resulting from income tax provision related to the company's fiscal credits. With this provision, the company fully covers the tax credits claimed by the authority and settles all of
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Q4 2024 |
Q4 2025 |
Change |
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Ps. |
% |
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Consolidated revenue |
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2 % |
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EBITDA |
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5 % |
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Operating profit
Net result |
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-2%
-70% |
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Figures in millions of pesos.
Revenue
Consolidated revenue increased 2% during the period, as a result of a 9% growth in financial income and an 8% decrease in commercial sales.
The increase in financial income — to Ps.36,162 million from Ps.33,243 million in the previous year — reflects a 9% increase in the income of Banco Azteca México, in the context of strong growth in the gross loan portfolio during the period, which boosts the well-being of millions of families and business development.
Costs and expenses
Consolidated costs for the quarter decreased 1% to Ps.27,772 million from Ps.28,058 million in the same period of the previous year. The reduction is explained by a 13% reduction in commercial costs — in line with strategies focused on boosting gross margin of merchandises — partially offset by a 20% increase in financial costs, largely due to increased loan los reserves, in the context of solid dynamism in the consolidated gross loan portfolio.
The reduction in consolidated costs for the period, coupled with the increase in revenue, generated a 5% growth in the company's gross profit to Ps.31,087 million up from Ps.29,731 million a year ago. The gross margin increased by two percentage points to 53% this quarter.
Selling, administrative and promotional expenses grew 4% to Ps.23,271 million from Ps.22,290 million a year ago, as a result of higher operating and advertising expenses during the period.
EBITDA and net result
EBITDA grew 5% to Ps.7,816 million from Ps.7,441 million in the prior year. The EBITDA margin was 13% for the period. The company reported operating income of Ps.4,851 million, compared to Ps.4,954 million in the same quarter of 2024.
Relevant variations below EBITDA were the following:
A positive variation of Ps.19,483 million in other financial results, reflecting stability this quarter in the market value of underlying financial instruments, as well as a reduction in their position, compared to a loss of 63% a year ago.
Income taxes of Ps.23,261 million this quarter, compared to a positive amount of Ps.3,792 million a year ago, as a result of income tax provision related to the company's fiscal credits this period, through which all of
Balance Sheet
Loan Portfolio and Deposits
The consolidated gross loan portfolio of
Banco Azteca México's gross loan portfolio increased 11% to Ps.208,486 million from Ps.187,645 million a year ago. The bank's non-performing loan ratio at the end of the period was 6.4%.
Banco Azteca México's traditional deposit-to-gross loan ratio was 1.2 times, which allows for solid growth of the Bank, with optimal funding costs.
The capitalization index of Banco Azteca México was 15.5%.
Infrastructure
The number of Grupo Elektra's points of contact in
Twelve-month consolidated results
Consolidated revenue for 2025 increased 7% to Ps.215,356 million from Ps.201,296 million in 2024, driven by a 12% growth in the financial business, partially offset by a 1% decrease in the commercial business.
EBITDA was Ps.27,805 million, 3% higher than the Ps.26,995 million of the previous year. The 2025 EBITDA margin was 13%. The company reported operating income was Ps.17,426 million, up from Ps.17,523 million a year ago. A net loss of Ps.13,024 million was recorded in 2025, compared to a loss of Ps.11,153 million the previous year.
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2024 |
2025 |
Change |
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Ps. |
% |
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Consolidated revenue |
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7 % |
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EBITDA |
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3 % |
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Operating profit
Net result |
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-1%
-17% |
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Figures in millions of pesos.
Company Profile:
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
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Investor Relations: |
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Tel. +52 (55) 1720-9167 |
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Tel. +52 (55) 1720-9167 |
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Press Relations: |
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CONSOLIDATED INCOME STATEMENTS |
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MILLIONS OF MEXICAN PESOS |
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4Q24 |
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4Q25 |
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Change |
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Financial income |
33,243 |
58 % |
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36,162 |
61 % |
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2,919 |
9 % |
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Commercial income |
24,547 |
42 % |
|
22,697 |
39 % |
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(1,850) |
-8 % |
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Income |
57,790 |
100 % |
|
58,859 |
100 % |
|
1,069 |
2 % |
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Financial cost |
10,206 |
18 % |
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12,248 |
21 % |
|
2,042 |
20 % |
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Commercial cost |
17,852 |
31 % |
|
15,524 |
26 % |
|
(2,329) |
-13 % |
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Costs |
28,058 |
49 % |
|
27,772 |
47 % |
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(286) |
-1 % |
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Gross income |
29,731 |
51 % |
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31,087 |
53 % |
|
1,356 |
5 % |
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|
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|
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Sales, administration and promotion expenses |
22,290 |
39 % |
|
23,271 |
40 % |
|
981 |
4 % |
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|
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EBITDA |
7,441 |
13 % |
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7,816 |
13 % |
|
375 |
5 % |
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Depreciation and amortization |
2,395 |
4 % |
|
2,402 |
4 % |
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6 |
0 % |
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Other expense, net |
91 |
0 % |
|
563 |
1 % |
|
472 |
---- |
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Operating income |
4,954 |
9 % |
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4,851 |
8 % |
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(103) |
-2 % |
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Comprehensive financial result: |
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Interest income |
627 |
1 % |
|
557 |
1 % |
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(69) |
-11 % |
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Interest expense |
(1,657) |
-3 % |
|
(1,683) |
-3 % |
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(26) |
-2 % |
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Foreign exchange loss, net |
(163) |
0 % |
|
(80) |
0 % |
|
83 |
51 % |
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Other financial results, net |
(19,372) |
-34 % |
|
111 |
0 % |
|
19,483 |
---- |
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(20,566) |
-36 % |
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(1,094) |
-2 % |
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19,471 |
95 % |
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Participation in the net income of |
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CASA and other associated companies |
165 |
0 % |
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(355) |
-1 % |
|
(520) |
---- |
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(Loss) income before income tax |
(15,446) |
-27 % |
|
3,402 |
6 % |
|
18,848 |
---- |
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Income tax |
3,792 |
7 % |
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(23,261) |
-40 % |
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(27,053) |
---- |
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Loss before discontinued operations |
(11,654) |
-20 % |
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(19,859) |
-34 % |
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(8,205) |
-70 % |
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Result from discontinued operations |
(2) |
0 % |
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(1) |
0 % |
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1 |
72 % |
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Consolidated net loss |
(11,656) |
-20 % |
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(19,859) |
-34 % |
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(8,203) |
-70 % |
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CONSOLIDATED INCOME STATEMENTS |
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MILLIONS OF MEXICAN PESOS |
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12M24 |
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12M25 |
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Change |
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Financial income |
122,547 |
61 % |
|
137,120 |
64 % |
|
14,572 |
12 % |
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Commercial income |
78,749 |
39 % |
|
78,236 |
36 % |
|
(512) |
-1 % |
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Income |
201,296 |
100 % |
|
215,356 |
100 % |
|
14,060 |
7 % |
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Financial cost |
40,632 |
20 % |
|
45,578 |
21 % |
|
4,946 |
12 % |
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Commercial cost |
56,422 |
28 % |
|
54,061 |
25 % |
|
(2,361) |
-4 % |
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Costs |
97,053 |
48 % |
|
99,638 |
46 % |
|
2,585 |
3 % |
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|
|
|
|
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Gross income |
104,243 |
52 % |
|
115,718 |
54 % |
|
11,475 |
11 % |
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Sales, administration and promotion expenses |
77,247 |
38 % |
|
87,912 |
41 % |
|
10,665 |
14 % |
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EBITDA |
26,995 |
13 % |
|
27,805 |
13 % |
|
810 |
3 % |
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Depreciation and amortization |
9,399 |
5 % |
|
9,716 |
5 % |
|
316 |
3 % |
|
|
|
|
|
|
|
|
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|
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Other expense, net |
73 |
0 % |
|
664 |
0 % |
|
591 |
---- |
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|
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Operating income |
17,523 |
9 % |
|
17,426 |
8 % |
|
(98) |
-1 % |
|
|
|
|
|
|
|
|
|
|
|
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|
Comprehensive financial result: |
|
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|
|
|
|
|
|
|
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Interest income |
2,137 |
1 % |
|
1,687 |
1 % |
|
(450) |
-21 % |
|
|
|
Interest expense |
(6,030) |
-3 % |
|
(6,184) |
-3 % |
|
(154) |
-3 % |
|
|
|
Foreign exchange (loss) gain, net |
(1,287) |
-1 % |
|
678 |
0 % |
|
1,965 |
---- |
|
|
|
Other financial results, net |
(26,849) |
-13 % |
|
274 |
0 % |
|
27,123 |
---- |
|
|
|
|
(32,029) |
-16 % |
|
(3,545) |
-2 % |
|
28,484 |
89 % |
|
|
|
|
|
|
|
|
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|
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Participation in the net income of |
|
|
|
|
|
|
|
|
|
|
|
CASA and other associated companies |
(170) |
0 % |
|
(384) |
0 % |
|
(214) |
---- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Loss) income before income tax |
(14,675) |
-7 % |
|
13,497 |
6 % |
|
28,172 |
---- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income tax |
3,526 |
2 % |
|
(26,522) |
-12 % |
|
(30,048) |
---- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss before discontinued operations |
(11,150) |
-6 % |
|
(13,025) |
-6 % |
|
(1,876) |
-17 % |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Result from discontinued operations |
(4) |
0 % |
|
2 |
0 % |
|
5 |
---- |
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|
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|
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Consolidated net loss |
(11,153) |
-6 % |
|
(13,024) |
-6 % |
|
(1,870) |
-17 % |
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CONSOLIDATED BALANCE SHEET |
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MILLIONS OF MEXICAN PESOS |
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Commercial |
Financial |
Grupo |
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Commercial |
Financial |
Grupo |
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Change |
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At |
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At |
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|
|
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Cash and cash equivalents |
10,360 |
36,968 |
47,327 |
|
11,571 |
36,711 |
48,281 |
|
954 |
2 % |
|
|
|
|
|
|
|
|
|
|
|
|
|
Marketable financial instruments |
8,332 |
102,492 |
110,824 |
|
9,515 |
132,495 |
142,010 |
|
31,186 |
28 % |
|
|
|
|
|
|
|
|
|
|
|
|
|
Performing loan portfolio |
- |
101,358 |
101,358 |
|
- |
113,099 |
113,099 |
|
11,741 |
12 % |
|
Total past-due loans |
- |
6,163 |
6,163 |
|
- |
9,723 |
9,723 |
|
3,560 |
58 % |
|
Gross loan portfolio |
- |
107,521 |
107,521 |
|
- |
122,821 |
122,821 |
|
15,301 |
14 % |
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for credit risks |
- |
18,850 |
18,850 |
|
- |
21,450 |
21,450 |
|
2,600 |
14 % |
|
|
|
|
|
|
|
|
|
|
|
|
|
Loan portfolio, net |
- |
88,671 |
88,671 |
|
- |
101,371 |
101,371 |
|
12,701 |
14 % |
|
|
|
|
|
|
|
|
|
|
|
|
|
Inventories |
19,123 |
- |
19,123 |
|
16,986 |
- |
16,986 |
|
(2,138) |
-11 % |
|
|
|
|
|
|
|
|
|
|
|
|
|
Other current assets |
21,412 |
14,917 |
36,329 |
|
20,589 |
9,589 |
30,178 |
|
(6,152) |
-17 % |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total current assets |
59,227 |
243,047 |
302,274 |
|
58,661 |
280,165 |
338,826 |
|
36,552 |
12 % |
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial instruments |
24,969 |
2 |
24,971 |
|
6,698 |
244 |
6,942 |
|
(18,029) |
-72 % |
|
|
|
|
|
|
|
|
|
|
|
|
|
Performing loan portfolio |
- |
85,355 |
85,355 |
|
- |
89,279 |
89,279 |
|
3,924 |
5 % |
|
Total past-due loans |
- |
2,438 |
2,438 |
|
- |
4,616 |
4,616 |
|
2,178 |
89 % |
|
Gross loan portfolio |
- |
87,793 |
87,793 |
|
- |
93,895 |
93,895 |
|
6,102 |
7 % |
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for credit risks |
- |
5,995 |
5,995 |
|
- |
7,058 |
7,058 |
|
1,064 |
18 % |
|
|
|
|
|
|
|
|
|
|
|
|
|
Loan portfolio |
- |
81,799 |
81,799 |
|
- |
86,837 |
86,837 |
|
5,038 |
6 % |
|
|
|
|
|
|
|
|
|
|
|
|
|
Other non-current assets |
1,070 |
410 |
1,480 |
|
27 |
513 |
540 |
|
(940) |
-64 % |
|
Investment in shares |
2,194 |
14 |
2,208 |
|
96 |
18 |
115 |
|
(2,094) |
-95 % |
|
Property, furniture, equipment and |
|
|
|
|
|
|
|
|
|
|
|
investment in stores, net |
8,515 |
10,465 |
18,980 |
|
7,214 |
9,261 |
16,474 |
|
(2,506) |
-13 % |
|
Intangible assets |
587 |
9,130 |
9,717 |
|
81 |
9,144 |
9,225 |
|
(492) |
-5 % |
|
Right of use asset |
12,445 |
2,325 |
14,770 |
|
13,057 |
2,112 |
15,169 |
|
399 |
3 % |
|
Other assets |
11,434 |
11,623 |
23,058 |
|
14,482 |
14,693 |
29,175 |
|
6,117 |
27 % |
|
TOTAL ASSETS |
120,442 |
358,816 |
479,257 |
|
100,316 |
402,986 |
503,303 |
|
24,046 |
5 % |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Demand and term deposits |
- |
233,898 |
233,898 |
|
- |
249,028 |
249,028 |
|
15,130 |
6 % |
|
Creditors from repurchase agreements |
- |
42,642 |
42,642 |
|
- |
66,611 |
66,611 |
|
23,969 |
56 % |
|
Short-term debt |
6,219 |
40 |
6,260 |
|
8,182 |
36 |
8,218 |
|
1,958 |
31 % |
|
Leasing |
2,589 |
869 |
3,459 |
|
2,715 |
774 |
3,489 |
|
31 |
1 % |
|
Short-term liabilities with cost |
8,809 |
277,450 |
286,259 |
|
10,897 |
316,449 |
327,346 |
|
41,087 |
14 % |
|
|
|
|
|
|
|
|
|
|
|
|
|
Suppliers and other short-term liabilities |
31,244 |
24,682 |
55,926 |
|
40,626 |
20,242 |
60,868 |
|
4,942 |
9 % |
|
Short-term liabilities without cost |
31,244 |
24,682 |
55,926 |
|
40,626 |
20,242 |
60,868 |
|
4,942 |
9 % |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total short-term liabilities |
40,053 |
302,132 |
342,185 |
|
51,523 |
336,691 |
388,214 |
|
46,029 |
13 % |
|
|
|
|
|
|
|
|
|
|
|
|
|
Long-term debt |
28,773 |
0 |
28,773 |
|
26,850 |
0 |
26,850 |
|
(1,923) |
-7 % |
|
Leasing |
11,122 |
1,537 |
12,660 |
|
11,800 |
1,451 |
13,251 |
|
591 |
5 % |
|
Long-term liabilities with cost |
39,896 |
1,537 |
41,433 |
|
38,650 |
1,451 |
40,101 |
|
(1,332) |
-3 % |
|
|
|
|
|
|
|
|
|
|
|
|
|
Long-term liabilities without cost |
12,213 |
2,896 |
15,109 |
|
11,436 |
2,541 |
13,976 |
|
(1,132) |
-7 % |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total long-term liabilities |
52,108 |
4,433 |
56,542 |
|
50,085 |
3,992 |
54,077 |
|
(2,465) |
-4 % |
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL LIABILITIES |
92,161 |
306,565 |
398,726 |
|
101,609 |
340,683 |
442,291 |
|
43,565 |
11 % |
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL STOCKHOLDERS' EQUITY |
28,280 |
52,251 |
80,531 |
|
(1,292) |
62,304 |
61,012 |
|
(19,519) |
-24 % |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES + EQUITY |
120,442 |
358,816 |
479,257 |
|
100,316 |
402,986 |
503,303 |
|
24,046 |
5 % |
|
|
INFRASTRUCTURE |
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
4Q24 |
|
4Q25 |
|
Change |
|||
|
|
|
|
|
|
|
|
|
|
|
Points of sale in |
|
|
|
|
|
|
|
|
|
Elektra |
1,245 |
20 % |
|
1,243 |
20 % |
|
(2) |
0 % |
|
Salinas y Rocha |
32 |
1 % |
|
32 |
1 % |
|
- |
0 % |
|
|
1,936 |
31 % |
|
1,927 |
32 % |
|
(9) |
0 % |
|
Freestanding branches |
1,688 |
27 % |
|
1,702 |
28 % |
|
14 |
1 % |
|
Total |
4,901 |
80 % |
|
4,904 |
80 % |
|
3 |
0 % |
|
|
|
|
|
|
|
|
|
|
|
Points of sale in |
|
|
|
|
|
|
|
|
|
Elektra |
131 |
2 % |
|
126 |
2 % |
|
(5) |
-4 % |
|
|
236 |
4 % |
|
229 |
4 % |
|
(7) |
-3 % |
|
Freestanding branches |
67 |
1 % |
|
64 |
1 % |
|
(3) |
-4 % |
|
Total |
434 |
7 % |
|
419 |
7 % |
|
(15) |
-3 % |
|
|
|
|
|
|
|
|
|
|
|
Points of sale in |
|
|
|
|
|
|
|
|
|
Purpose Financial |
815 |
13 % |
|
787 |
13 % |
|
(28) |
-3 % |
|
Total |
815 |
13 % |
|
787 |
13 % |
|
(28) |
-3 % |
|
|
|
|
|
|
|
|
|
|
|
TOTAL |
6,150 |
100 % |
|
6,110 |
100 % |
|
(40) |
-1 % |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Floor space (m²) |
1,731 |
100 % |
|
1,725 |
100 % |
|
(6) |
0 % |
View original content:https://www.prnewswire.com/news-releases/grupo-elektra-concludes-all-its-tax-litigation-with-the-mexican-government-and-announces-its-2025-results-302697769.html
SOURCE
