In the third quarter of the year, the joint net profit of 14 Monterrey-based industrial companies listed on the Mexican Stock Exchange (BMV) reached 29 billion 186 million pesos (mdp), showing a growth of 9.39% compared to the same period of the previous year. Despite half of the analyzed companies experiencing an annual decrease in their profits and two continuing to report losses, the overall balance was positive.
The outstanding performance of Cemex, which achieved a profit of seven thousand 847 mdp, a 265% increase compared to the same quarter of the previous year, was attributed to lower taxes and a profit generated from the sale of its operations in Guatemala. Gerardo Cevallos, deputy director of fundamental analysis at Vector Casa de Bolsa, highlighted that Cemex's profit exceeded expectations.
On the other hand, Arca Continental, Coca Cola Femsa, and Fomento Económico Mexicano (Femsa) also stood out for the profits achieved. Femsa reported a profit of five thousand 898 mdp, reflecting an annual decrease of 39.45%. Ariel Méndez, analyst at GFBX+, mentioned that this drop was due to higher financial expenses, lower exchange rate gains, and the divestment of Solistica.
Regarding Coca Cola Femsa, it obtained a net profit of five thousand 858 mdp in the third quarter, showing an increase of 8.88% compared to the same period of the previous year. Ian Craig, CEO of Kof, mentioned that this increase was mainly due to the growth in operating income.
Arca Continental's net profit rose to five thousand 132 mdp, reflecting an increase of 13.11% compared to the previous year, attributed to higher-than-expected exchange rate gains. In contrast, Alfa reported a loss of 61 mdp, 92.4% lower than the loss recorded in the same quarter of the previous year. Axtel and Lamosa also reported losses in this quarter. Axtel had a 17.8% increase in its net loss, reaching 304 mdp, while Lamosa went from having a profit of 501 mdp in the third quarter of 2023 to reporting a loss of 537 mdp.
