In the year, the operating flow (or Ebitda) of the company was 18,139 million pesos, a decline of 18% compared to the 22,015 million pesos of the previous year.
According to the company, the losses reflect, “to a large extent, the decrease in the market value of the underlying of financial instruments that the company owns – and that does not imply cash flow – compared to the capital gain the previous year.”
Regarding the results of the fourth quarter, the company had a 12% jump in sales, which reached 48,297 million pesos, leaving a net profit of 1,411 million pesos. Profits were 28% lower than those of the same period in 2021, when they reached 1,948 million pesos.
In the quarter, financial income had a 19% increase in financial income and reached 26,456 million pesos, mainly due to a 27% increase in the income of Banco Azteca México, “in the framework of dynamic growth of the credit portfolio gross in the period”, explained the company.
The 5% increase in sales of the commercial business came from a growth in sales of white goods and income related to electronic money transfers, in the context of important transfer flows from the United States to Mexico.