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 $3,996 $3,714 $(283) (7)%Net result $(644) $2,696 $3,340 —–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 2024 2025 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 Rolando VillarrealGrupo Salinas Grupo Elektra, S.A.B. de C.V.Tel. +52 (55) 1720-9167 Tel. +52 (55) 1720-9167jrangelk@gruposalinas.com.mx rvillarreal@elektra.com.mxPress Relations:Luciano PascoeTel. +52 (55) 1720 1313 ext. 36553lpascoe@gruposalinas.com.mx
GRUPO ELEKTRA, S.A.B. DE C.V. AND SUBSIDIARIESCONSOLIDATED INCOME STATEMENTSMILLIONS 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 SUBSIDIARIESCONSOLIDATED INCOME STATEMENTSMILLIONS 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 SUBSIDIARIESCONSOLIDATED BALANCE SHEETMILLIONS OF MEXICAN PESOS Commercial Financial Grupo Commercial Financial Grupo Business Business Elektra Business Business Elektra Change At June 30, 2024 At June 30, 2025Cash 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 andinvestment 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 ChangePoints of sale in MexicoElektra 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 AmericaElektra 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 AmericaPurpose 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%EmployeesMexico 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.
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