The company Alfa reported that during the third quarter of this year, its net sales, excluding Alpek's operations, totaled 42,574 million pesos (mdp), an increase of 11% compared to the same period last year. The operating cash flow was 5,172 mdp, representing a 24.27% increase compared to the third quarter of 2023.
Regarding the spin-off of Alpek, Álvaro Fernández, CEO of Alfa, mentioned that Alpek and Sigma have been the largest and most profitable companies in Alfa's portfolio over the last two decades. Net Debt was reduced following the goal of maintaining a leverage ratio of 2.5 times net debt to cash flow.
On the other hand, Alpek reported annual growth in volume, revenue, and cash flow during the quarter. The comparative cash flow of 4,138 mdp is the highest since the third quarter of 2022, driven by stable demand, higher shipping costs that benefited certain parts of the business, and a slight improvement in benchmark margins.
Álvaro Fernández stated that both companies have grown significantly across all metrics to become leaders in their respective industries. The spin-off represents a key moment for both companies, formalizing their independence and unlocking an attractive value opportunity with the current revaluation of Alfa as Sigma.
Additionally, thanks were expressed to Alfa's shareholders for their support in carrying out the capital increase of 7,952 mdp, which is expected to be completed on November 4, 2024. These resources, along with cash dividends from both business units, will allow for the prepayment of corporate debt totaling 575 million dollars.
