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Grupo Elektra Announces EBITDA of Ps.4,082 Million and Operating Profit of Ps.2,198 Million in 3Q19

Written by Customer Service on . Posted in Public Companies.

—Consolidated revenue increases 17% to Ps.29,733 million
as a result of the firm dynamism in both commercial and financial revenues——21% growth in consolidated deposits to Ps.150,781 million,
generates solid perspectives for the financial division——Consolidated gross loan portfolio grows 17% to Ps.110,393 million——Consolidated delinquency rate is reduced from 4.9% to 4.3%—MEXICO CITY, Oct. 24, 2019 (GLOBE NEWSWIRE) — 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 third quarter 2019 financial results.Consolidated third quarter resultsConsolidated revenue was Ps.29,733 million in the period, 17% above the Ps.25,490 million for the same quarter of the previous year. Costs and operating expenses were Ps.25,652 million, compared to Ps.21,217 million for the same period of 2018.As a result, Grupo Elektra reported EBITDA of Ps.4,082 million, in comparison with Ps.4,273 million of the previous year’s quarter, with an EBITDA margin of 14% for the period.Operating profit was of Ps.2,198 million this quarter, from Ps.3,501 million during the same period of 2018.On a pro forma basis — without considering the application of IFRS 16 standard, which was adopted as of 2019, as previously detailed — in the third quarter of 2019 EBITDA for the period was Ps.3,115 million and operating profit was Ps.1,963 million.The company reported net income of Ps.4,258 million, compared to net income of Ps.6,443 million a year ago.

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