Grupo Carso, owned by businessman Carlos Slim, presented an increase of 28.4% in its income for the first quarter of 2022, compared to the same period of the previous year, which totaled 34,543 million pesos.
The company boosted its results due to a better performance by its commercial division, Grupo Sanborns, which registered an increase of 29.5% in its net sales, due to the recovery of consumption in department stores and restaurants, benefiting as well as from the rest of its subsidiaries.
Likewise, Grupo Condumex, marketer of services and manufactured products, obtained a 14.9% increase in revenues, mainly due to a greater number of cable sales.
Carso Energy, a subsidiary that participates in the hydrocarbon industry, achieved a 112% increase in its net sales, as well as Carso Infraestructura, which increased 41.4% in the same category. Both increases refer to comparisons between the first quarter of 2021 and 2022.
The company’s net profit ended the first three months of the year at 3,303 million pesos, which means an advance of 55.8%, while its operating flow (EBITDA) reached 4,757 million pesos, reflecting a growth of 62.3 percent .
Within its portfolio of projects, the company has the construction of the Las Varas-Vallarta, Mitla-Tehuantepec highways, in addition to telecommunications installation services, equipment for the petrochemical industry, drilling of deep wells for Petróleos Mexicanos (Pemex), various services for the oil industry and section II of the Mayan Train.
Casa de Bolsa Monex described the report that the issuer sent to the Mexican Stock Exchange as “positive, since it validates the recovery stage of the pandemic in the Sanborns business, higher than expected. In addition, the issuer made significant progress in the Condumex and Carso Energy segments, which have shown significant resilience in the face of the effects of Covid-19.”
“Going forward, it will be important to observe the evolution of inflationary pressures, the effects on the supply chain due to the pandemic, a lower expectation of economic growth both locally and internationally, as well as the geopolitical conflict in Ukraine,” Monex said. assigning a Hold recommendation and placing it at a Target Price of 80 pesos each share by the end of 2022.
Grupo Carso currently has a capitalization value of 160.887 million pesos and its shares are listed at 71.39 pesos each. At the close of the market this Monday, it presented an increase in the yield of its titles of 1.49 percent.
valeria lopez