During the fourth quarter of last year, 15 companies from Monterrey listed on the Mexican Stock Exchange (BMV) managed to reverse the losses of nine thousand 687 million pesos (mdp) recorded in the same period of 2023, reporting a combined profit of 17 thousand 99 mdp. Of the 15 companies included in the analysis, eight showed better performance compared to the fourth quarter of 2023, while the remaining seven reported weaker results than a year ago.
The total profits were driven by the performance of Fomento Económico Mexicano (Femsa), Coca Cola Femsa (Kof), and Gruma, as well as Cemex and Alpek, which despite the fact that the cement company recorded a profit of only 980 mdp, it was eight thousand 684 mdp greater than the loss of seven thousand 704 mdp from a year ago. Meanwhile, although Alpek reported a loss of one thousand 601 mdp in the fourth quarter, it was nine thousand 337 mdp lower than the 10 thousand 938 mdp reported in the same period of 2023.
Femsa recorded a net profit of six thousand 787 mdp, which represented an increase of 117.32 percent compared to the three thousand 123 mdp in the same period of 2023. "The strong increase in net profit was a result of unfavorable exchange rate effects," said Marco Antonio Montañez Torres, director of analysis and strategy at Vector Casa de Bolsa.
Richard Horbach, analyst at Intercam Casa de Bolsa, commented that on a net level, consolidated profit increased by 78.3 percent compared to the fourth quarter of 2023, reflecting an exchange gain of two thousand 673 mdp compared to a loss of six thousand 302 mdp in the last quarter of 2024 and the positive contribution from discontinued operations.
Kof recorded a majority net profit of seven thousand 286 mdp, 35.13 percent more compared to the five thousand 392 mdp of the same period of the previous year, a rise attributed mainly to the growth of operating profit.
On its part, Cemex was one of the companies that managed to reverse the losses recorded in the fourth quarter of 2023, which were 980 mdp. "The quarterly net result disappointed consensus; the company recorded a net profit of 48 million dollars (mdd) (980 mdp), which was 69 percent lower than expected due to a loss of 187 mdd in discontinued operations," said Gerardo Cevallos, deputy director of fundamental analysis at Vector Casa de Bolsa.
Despite the fact that Alfa was one of the companies that recorded a loss of six thousand 303 mdp in the relevant quarter, this was 44.15 percent lower than the eleven thousand 285 mdp of the same period a year ago.
