Sigma Foods, S.a.b. De C.v. · BMV:SIGMAF/A
Sigma Foods, S.a.b. De C.v — Q3 2024 Earnings Presentation
58 slides from Sigma Foods, S.a.b. De C.v's earnings presentation, Oct 29, 2024
Slide 1: Earnings Report Third Quarter 2024 (3Q24)
EARNINGS REPORT Third Quarter 2024 (3Q24) Monterrey, N.L., Mexico, October 28, 2024. ALFA, S.A.B. de C.V. (BMV: ALFAA) (“ALFA”), a company that has developed leading businesses with global operations, announced today its unaudited results for the third quarter of 2024 ("3Q24"). All figures have been
Slide 2: Important notes on changes to ALFA's Consolidated Financial Statements: Alpek
Earnings Report Third Quarter 2024 (3Q24) Important notes on changes to ALFA’s Consolidated Financial Statements Controladora Alpek ALFA’s shareholders approved to spin-off ALFA’s share ownership of Alpek into a new, listed entity called “Controladora Alpek” on October 24, 2024. In accordance with I
Slide 3: Controladora Axtel accounting changes
Earnings Report Third Quarter 2024 (3Q24) Controladora Axtel ALFA’s shareholders approved to spin-off ALFA’s share ownership of Axtel into a new, listed entity called “Controladora Axtel” on July 12, 2022. The shares of “Controladora Axtel” were distributed to ALFA shareholders and began trading on
Slide 4: 3Q24 Highlights
Earnings Report Third Quarter 2024 (3Q24) Alfa|SIGMA reports 3Q24 EBITDA of US $275 million, up 13% vs 3Q23, with Alpek as Discontinued Operations 3Q24 HIGHLIGHTS ALFA’s conglomerate composition being effectively simplified into single, wholly-owned food business unit, in which ALFA is Sigma Adv
Slide 5: Selected Financial Information (US $ million)
Earnings Report Third Quarter 2024 (3Q24) SELECTED FINANCIAL INFORMATION (US $ MILLION) (%) 3Q24 vs. 3Q24 2Q24 3Q23 2Q24 3Q23 2024 2023 Ch. % Alfa|SIGMA with Alpek as Discontinued Operations Revenues 2,253 2,277 2,243 (1) - 6,733 6,440 5 SIGMA 2,222 2,246 2,209 (1) 1 6,638 6,343 5 EBITDA1 275 270 24
Slide 6: Contents
Earnings Report Third Quarter 2024 (3Q24) Contents Message from ALFA’s Chairman & CEO Consolidated Financial Results Alfa|SIGMA (BMV: ALFAA) Results by Business Sigma – Food Products Alpek (BMV: ALPEKA) – Petrochemicals Axtel (BMV: AXTELCPO) – IT & Telecom Tables Financial Statements Appendix – Alpe
Slide 7: Message from ALFA's Chairman & CEO
Earnings Report Third Quarter 2024 (3Q24) Message from ALFA’s Chairman & CEO “Beginning in 2020 we embarked on a profound transformation to simplify our conglomerate down to a single, wholly-owned food business unit. The third quarter marked a significant milestone as we fulfilled essential conditio
Slide 8: Message from ALFA's Chairman & CEO (continued)
Earnings Report Third Quarter 2024 (3Q24) It is encouraging to reach this stage of our transformation, with solid operating results from Sigma and Alpek, reflecting an outstanding growth trend in our food business and a remarkable turnaround in our petrochemical business. During the third quarter 20
Slide 9: Alfa|SIGMA Consolidated Financial Results: Income Statement
Earnings Report Third Quarter 2024 (3Q24) Alfa|SIGMA (BMV: ALFAA) Consolidated Financial Results INCOME STATEMENT (US $ MILLION) (%) 3Q24 vs. 3Q24 2Q24 3Q23 2Q24 3Q23 2024 2023 Ch. % Total Revenues 2,253 2,277 2,243 (1) - 6,733 6,440 5 Gross Profit 717 745 692 (4) 4 2,178 1,911 14 Operating expenses
Slide 10: Comprehensive Financing Expense and Net Income
Earnings Report Third Quarter 2024 (3Q24) Comprehensive Financing Expense (CFE) was US $109 million, down from US $119 million in 3Q23 as lower foreign exchange rate losses more than offset higher interest expense. Accumulated CFE in the first nine months of 2024 was US $398 million, up 33% versus t
Slide 11: Change in Net Debt
Earnings Report Third Quarter 2024 (3Q24) CHANGE IN NET DEBT (US $ MILLION) (%) 3Q24 vs. 3Q24 2Q24 3Q23 2Q24 3Q23 2024 2023 Ch. % EBITDA 275 270 244 2 13 799 635 26 Net Working Capital (35) (49) (79) 28 55 (207) (128) (62) Capital Expenditures & (42) (45) (58) 7 28 (128) (213) 40 Acquisitions Net Fi
Slide 12: Dividends
Earnings Report Third Quarter 2024 (3Q24) No Dividends were paid out in 3Q24. Year-to-date, ALFA shareholders have received dividends totaling US $48 million versus US $96 million in 2023 as the company prioritized completing the transformation process. iralfa@alfa.com.mx 12 www.alfa.com.mx + (52) 8
Slide 13: Recent Developments – ALFA
Earnings Report Third Quarter 2024 (3Q24) RECENT DEVELOPMENTS – ALFA Represents the final spin-off in ALFA’s corporate simplification process Proposal approved by ALFA Shareholders on October 24, 2024 ALFA will transfer all its Alpek shares to a new, listed entity: “Controladora Alpek” Alpek s
Slide 14: Unlocking Value: Corporate Simplification
Earnings Report Third Quarter 2024 (3Q24) Transformation to unlock ALFA’s fair value potential by simplifying its corporate structure ALFA’s conglomerate composition being effectively simplified into wholly- owned food business Progress to date: – Spun-off Nemak (2020) Unlocking – Spun-off Axt
Slide 15: Quiet Period and 2024 Guidance
Earnings Report Third Quarter 2024 (3Q24) ALFA enters a Quiet Period seven days prior to the close of each quarter Quiet Period 4Q24 Quiet Period will begin on December 23, 2024 2024 ALFA Guidance withdrawn following the approval of Alpek’s spin-off 2024 ALFA Guidance Sigma maintained its re
Slide 16: Results by Business: Sigma 3Q24 Highlights
Earnings Report Third Quarter 2024 (3Q24) Results by Business Sigma – FOOD PRODUCTS 3Q24 HIGHLIGHTS Fourteenth consecutive quarter of year-on-year Revenue growth supported by record quarterly Volume Sigma All-time high quarterly EBITDA of US $281 million, supported by solid Consolidated growth i
Slide 17: Sigma Selected Financial Information
Earnings Report Third Quarter 2024 (3Q24) SELECTED FINANCIAL INFORMATION (US $ MILLION) (%) 3Q24 vs. 3Q24 2Q24 3Q23 2Q24 3Q23 2024 2023 Ch. % Volume (ktons) 465 462 456 1 2 1,375 1,331 3 Mexico 250 248 242 0 3 741 702 6 Europe 96 92 97 4 (1) 280 290 (3) United States 92 94 91 (3) 1 274 262 5 Latam 2
Slide 18: Message from Sigma's President
Earnings Report Third Quarter 2024 (3Q24) Message from Sigma’s President “As we conclude the third quarter of 2024, I am delighted to share that Sigma continues its outstanding trajectory of growth. This quarter marks our 14th consecutive quarter of sales growth and the third in which we have reache
Slide 19: Sigma Income Statement
Earnings Report Third Quarter 2024 (3Q24) INCOME STATEMENT (US $ MILLION) (%) 3Q24 vs 3Q24 2Q24 3Q23 2Q24 3Q23 2024 2023 Ch. % Total Revenues 2,222 2,246 2,209 (1) 1 6,638 6,343 5 Gross Profit 706 734 680 (4) 4 2,145 1,878 14 Operating expenses and (485) (516) (601) (6) (19) (1,504) (1,498) - others
Slide 20: Sigma Financing Expense, Net Income and Change in Net Debt
Earnings Report Third Quarter 2024 (3Q24) Comprehensive Financing Expense (CFE) was US $11 million, down 87% versus US $83 million in 3Q23, as higher interests were offset by foreign exchange gains amid the recent depreciation of the Mexican peso against the U.S. dollar. Accumulated CFE was US $166
Slide 21: Industry Comments – Sigma
Earnings Report Third Quarter 2024 (3Q24) INDUSTRY COMMENTS - SIGMA Consumer Confidence and Retail Sales Average consumer confidence in Mexico (as per INEGI 1) was 47.4 points in 3Q24, up 0.7 percentage points year-on-year. By the end of September 2024, the average inflation rate was 5.3%, a 0.7 per
Slide 22: Exchange Rate
Earnings Report Third Quarter 2024 (3Q24) Exchange Rate When compared against the U.S. dollar, the average 3Q24 exchange rate for the Mexican peso depreciated 11%, and the euro appreciated 1% year-on-year. Furthermore, Sigma’s Latam currency mix (outside Mexico) remained approximately flat year-on-y
Slide 23: Results by Region – Sigma
Earnings Report Third Quarter 2024 (3Q24) RESULTS BY REGION - SIGMA During 3Q24, Mexico accounted for 47% of total revenues; while Europe represented 27%; the U.S. 19%; and Latam 7%. Mexico In local currency, 3Q24 Revenues increased 9% year-on-year, driven by revenue management and all-time high qua
Slide 24: Latam Results
Earnings Report Third Quarter 2024 (3Q24) Latam In local currencies, quarterly Revenues were up 5% year-on-year supported by record quarterly Volume, which was mainly driven by Central America and Ecuador. All-time high third quarter EBITDA in local currencies was up 14% year-on-year, boosted primar
Slide 25: Recent Developments – Sigma
Earnings Report Third Quarter 2024 (3Q24) RECENT DEVELOPMENTS – SIGMA Moody’s – Sep’24 Affirmed Sigma’s ratings ('Baa3’ and ‘AAA.mx’). Stable outlook Fitch – Sep’24 Credit Ratings Affirmed Sigma’s ratings ('BBB' and 'AAA(mex)'). Stable outlook S&P Global– Oct’24 Affirmed Sigma’s ratings ('BBB-
Slide 26: Alpek – Petrochemicals
Earnings Report Third Quarter 2024 (3Q24) Alpek (BMV: ALPEKA) – PETROCHEMICALS In accordance with International Financial Reporting Standards (IFRS), ALFA’s Consolidated Results must account for Alpek as Discontinued Operations due to the planned spin-off of this business. This section of the report
Slide 27: Alpek Volume, Revenues and EBITDA
Earnings Report Third Quarter 2024 (3Q24) Volume of 1,217 ktons was up 3% and 1% versus 3Q23 and 2Q24, respectively, supported by stable domestic demand and the normalization of operations in Altamira, Mexico following the temporary water shortage during 2Q24. Accumulated Volume was 3,621 ktons, up
Slide 28: Axtel – IT & Telecom
Earnings Report Third Quarter 2024 (3Q24) Axtel (BMV: AXTELCPO) – IT & TELECOM In accordance with International Financial Reporting Standards (IFRS), ALFA’s Consolidated Results must account for Axtel as Discontinued Operations due to the spin-off of this business. Additional details related to the
Slide 29: 3Q24 Earnings Call Information
Earnings Report Third Quarter 2024 (3Q24) 3Q24 EARNINGS CALL INFORMATION Date: Tuesday, October 29, 2024 Time: 1:00 p.m. EDT (NY) / 11:00 a.m. CST (CDMX) Registration: https://us02web.zoom.us/webinar/register/WN_r_dmi9KwSIGVhDuNHZuiZg Replay: https://www.alfa.com.mx/en/events/ iralfa@alfa.com.mx 29
Slide 30: About ALFA
Earnings Report Third Quarter 2024 (3Q24) About ALFA ALFA is comprised mainly of two businesses with global operations: Sigma, a leading multinational food company, focuses on the production, marketing, and distribution of quality foods through recognized brands in Mexico, Europe, the United States,
Slide 31: Tables: Volume, Price, Revenues, Operating Income
Earnings Report Third Quarter 2024 (3Q24) Tables ALFA Table 1 | VOLUME AND PRICE CHANGES (%) 3Q24 vs. 2024 vs. 2Q24 3Q23 2023 Total Volume 0.6 1.9 3.4 Domestic Volume 0.5 3.1 5.6 Foreign Volume 0.7 0.7 0.9 Avg. Ps. $ Prices 9.0 11.9 2.8 Avg. US $ Prices 9.0 11.9 2.8 Table 2 | REVENUES (%) 3Q24 vs. 3
Slide 32: Extraordinary Items and Comparable EBITDA
Earnings Report Third Quarter 2024 (3Q24) Table 4 | EXTRAORDINARY ITEMS (US $ MILLION) Company Extraordinary item 3Q24 2Q24 3Q23 2024 2023 Sigma Europe organizational restructure - - - - (12) Alpek Discontinued operation net effect (4) (4) (3) (11) (13) ALFA Total effect on EBITDA (4) (4) (3) (11) (
Slide 33: Net Income and Statement of Financial Position
Earnings Report Third Quarter 2024 (3Q24) Table 7 | NET INCOME (US $ MILLION) (%) 3Q24 % 3Q24 2Q24 3Q23 2Q24 3Q23 2024 2023 Ch.% Consolidated Net Income (Loss) 242 57 (46) 322 625 372 (9) - Minority Interest 244 6 2 - - 263 50 428 Majority Net Income (Loss) (2) 52 (49) (104) 96 109 (58) 287 Per Shar
Slide 34: Discontinued Operations – Axtel and Alpek
Earnings Report Third Quarter 2024 (3Q24) Table 9 | INCOME STATEMENT DISCONTINUED OPERATIONS – AXTEL (US $ MILLION) (%) 3Q24 vs. 3Q24 2Q24 3Q23 2Q24 3Q23 2024 2023 Ch.% Total Revenues 0 0 0 - - 0 240 (100) Gross Profit 0 0 0 - - 0 121 (100) Operating expenses and 0 0 0 - - 0 (115) (100) others EBITD
Slide 35: Change in Net Debt Discontinued Operations – Alpek
Earnings Report Third Quarter 2024 (3Q24) Table 12 | CHANGE IN NET DEBT DISCONTINUED OPERATIONS – ALPEK (US $ MILLION) (%) 3Q24 vs. 3Q24 2Q24 3Q23 2Q24 3Q23 2024 2023 Ch. % EBITDA 202 175 129 15 57 548 474 16 Net Working Capital (43) 34 214 (226) (120) (168) 432 (139) Capital expenditures & Acquisit
Slide 36: Sigma Tables: Volume, Price, Local Currency Results
Earnings Report Third Quarter 2024 (3Q24) Sigma Table 13 | SIGMA - VOLUME AND PRICE CHANGES (%) 3Q24 vs. 2024 vs. 2Q24 3Q23 2023 Total Volume 0.6 2.0 3.4 Avg. Ps. $ Prices 8.1 9.3 0.6 Avg. US $ Prices (1.6) (1.3) 1.3 Table 14 | SIGMA – REVENUES AND EBITDA IN LOCAL CURRENCY (%) 3Q24 vs. 3Q24 2Q24 3Q2
Slide 37: Sigma Financing Expense and Financial Position
Earnings Report Third Quarter 2024 (3Q24) Table 16 | SIGMA - COMPREHENSIVE FINANCING INCOME / EXPENSE (US $ MILLION) (%) 3Q24 vs. 3Q24 2Q24 3Q23 2Q24 3Q23 2024 2023 Ch.% Financial Expenses (66) (68) (52) (3) 28 (184) (131) 40 Financial Income 8 13 7 (39) 20 29 17 72 Net Financial Expenses (58) (55)
Slide 38: ALFA Balance Sheet
Earnings Report Third Quarter 2024 (3Q24) Financial Statements ALFA, S.A.B. de C.V. and Subsidiaries BALANCE SHEET Information in millions of Nominal Mexican Pesos (%) Sep 24 vs. ASSETS Sep 24 Jun 24 Sep 23 Jun 24 Sep 23 CURRENT ASSETS: Cash and cash equivalents 14,865 21,695 20,217 (31) (26) Trade
Slide 39: ALFA Income Statement
Earnings Report Third Quarter 2024 (3Q24) ALFA, S.A.B. de C.V. and Subsidiaries INCOME STATEMENT Information in millions of Nominal Mexican Pesos 3Q24 vs. (%) 3Q24 2Q24 3Q23 2Q24 3Q23 Net sales 42,574 39,149 38,261 9 11 Domestic 20,283 19,550 18,595 4 9 Export 22,291 19,599 19,666 14 13 Cost of sale
Slide 40: Sigma Alimentos Balance Sheet
Earnings Report Third Quarter 2024 (3Q24) Sigma Alimentos, S.A. de C.V. and Subsidiaries BALANCE SHEET Information in millions of Nominal Mexican Pesos (%) Sep 24 vs. ASSETS Sep 24 Jun 24 Sep 23 Jun 24 Sep 23 CURRENT ASSETS: Cash and cash equivalents 11,738 13,244 9,724 (11) 21 Restricted cash 18 23
Slide 41: Sigma Alimentos Income Statement
Earnings Report Third Quarter 2024 (3Q24) Sigma Alimentos, S.A. de C.V. and Subsidiaries INCOME STATEMENT Information in millions of Nominal Mexican Pesos 3Q24 vs. (%) 3Q24 2Q24 3Q23 2Q24 3Q23 Revenue 41,991 38,615 37,676 9 11 Cost of sales (28,663) (26,002) (26,072) 10 10 Gross profit 13,328 12,613
Slide 42: Appendix – Alpek 3Q24 Results Report
Earnings Report Third Quarter 2024 (3Q24) Appendix – Alpek 3Q24 Results Report iralfa@alfa.com.mx 42 www.alfa.com.mx + (52) 81-8748-2521
Slide 43: Alpek Third Quarter 2024 Results
THIRD QUARTER 2024 RESULTS October 28, 2024 Webcast Details Investor Relations Contacts Tuesday October 29th at Bárbara Amaya 9:00 am MX | 11:00 am ET bamaya@alpek.com Zoom Webcast Registration Alejandra Bustamante abustamante@alpek.com ir@alpek.com www.alpek.com
Slide 44: Quarterly Highlights and Key Metrics
Monterrey, Mexico – October 28, 2024 – Alpek, S.A.B. de C.V. (BMV: ALPEKA) announces its Third Quarter 2024 Results. QUARTERLY HIGHLIGHTS (U.S.$ million, unless otherwise noted) • Volume increased by 3% YoY and 1% QoQ, reaching 1.22M tons, driven by stable demand across our segments, and on track to
Slide 45: Message from Our CEO
MESSAGE FROM OUR CEO “Alpek’s strong performance for this quarter was characterized by stable demand across its segments, higher ocean container freight costs which support our regional margins, and a slight improvement in reference margins for PET and EPS. Considering our stronger third quarter res
Slide 46: Spin-Off of Alpek
Spin-Off of Alpek On October 24, 2024, ALFA held an Extraordinary Shareholders’ Meeting where its Shareholders approved the proposal to transfer ALFA’s entire share ownership in Alpek, as well as certain assets, liabilities, and capital to a new entity. This new entity will be constituted as the spu
Slide 47: Financial Results
FINANCIAL RESULTS EBITDA (U.S.$ million, unless otherwise noted) 3Q24 2Q24 3Q23 QoQ% YoY% YTD24 YTD23 Ch.% Reported EBITDA 198 170 126 16 58 537 461 16 Inventory Adj. & Carry Fwd Effects 18 (14) 1 231 2,369 (14) 42 (132) Others 3 2 33 59 (92) 7 65 (89) Comparable EBITDA 218 158 160 38 37 531 568 (7)
Slide 48: Cash Flow, Net Debt & Leverage
CASH FLOW (U.S.$ million, unless otherwise noted) 3Q24 2Q24 3Q23 QoQ% YoY% YTD24 YTD23 Ch.% EBITDA 198 170 126 16 58 537 461 16 Net Working Capital & Others (43) 34 214 (226) (120) (169) 432 (139) CAPEX (24) (22) (38) (7) 38 (80) (165) 52 Financial Expenses (38) (40) (46) 5 17 (115) (132) 13 Income
Slide 49: Polyester Results
POLYESTER RESULTS (PTA, PET Resin, PET Sheet, & rPET: 73% of Alpek’s Net Sales) U.S.$ million, unless otherwise noted 3Q24 2Q24 3Q23 QoQ% YoY% YTD24 YTD23 Ch.% Volume (ktons) 995 1,000 955 (1) 4 2,985 2,878 4 Revenues 1,420 1,425 1,483 - (4) 4,240 4,504 (6) Reported EBITDA 136 122 79 12 73 367 260 4
Slide 50: Plastics & Chemicals Results
PLASTICS & CHEMICALS (P&C) RESULTS (PP, EPS, & Specialty Chemicals: 21% of Alpek’s Net Sales) U.S.$ million, unless otherwise noted 3Q24 2Q24 3Q23 QoQ% YoY% YTD24 YTD23 Ch.% Volume (ktons) 222 202 222 10 - 636 657 (3) Revenues 444 399 372 11 19 1,241 1,214 2 Reported EBITDA 61 44 43 40 41 161 197 (1
Slide 51: About Alpek / Note on Forward Looking Statements
ABOUT ALPEK Alpek is a leading petrochemical company operating two business segments: “Polyester” (Purified Terephthalic Acid (PTA), Polyethylene Terephthalate (PET), & recycled PET (rPET)), and “Plastics & Chemicals” (polypropylene, expandable styrenics, and other specialty and industrial chemicals
Slide 52: Appendix A – Additional Financial Information
APPENDIX A – ADDITIONAL FINANCIAL INFORMATION TABLE 1 | PRICE CHANGES (%) QoQ YoY Ch. Polyester Avg. Ps. Prices 10 2 (10) Avg. U.S. $ Prices - (8) (9) Plastics & Chemicals Avg. Ps. Prices 12 32 5 Avg. U.S. $ Prices 1 19 6 Total Avg. Ps. Prices 11 8 (8) Avg. U.S. $ Prices 1 (3) (7) TABLE 2 | REVENUES
Slide 53: Comparable EBITDA and Financial Cost
TABLE 4 | COMPARABLE EBITDA 3Q24 2Q24 3Q23 QoQ% YoY% YTD24 YTD23 Ch.% Reported EBITDA Ps. Million 3,733 2,948 2,143 27 74 9,538 8,290 15 U.S. $ Million 198 170 126 16 58 537 461 16 Adjustments* Ps. Million 405 (216) 580 288 (30) (54) 1,871 (103) U.S. $ Million 20 (12) 34 269 (40) (6) 107 (106) Compa
Slide 54: Statement of Financial Position & Financial Ratios
TABLE 6 | STATEMENT OF FINANCIAL POSITION & 3Q24 2Q24 3Q23 QoQ% YoY% FINANCIAL RATIOS (U.S.$ million) Assets Cash and cash equivalents 418 417 503 - (17) Trade accounts receivable 778 889 794 (12) (2) Inventories 1,450 1,427 1,373 2 6 Other current assets 312 342 345 (9) (9) Total current assets 2,9
Slide 55: Polyester Tables
POLYESTER TABLE 7 | REVENUES 3Q24 2Q24 3Q23 QoQ% YoY% YTD24 YTD23 Ch.% Total Revenues Ps. Million 26,817 24,493 25,295 9 6 75,019 80,309 (7) U.S. $ Million 1,420 1,425 1,483 - (4) 4,240 4,504 (6) Domestic Revenues Ps. Million 5,913 4,908 5,356 20 10 15,690 16,487 (5) U.S. $ Million 312 285 314 9 (1)
Slide 56: Plastics & Chemicals Tables
PLASTICS & CHEMICALS TABLE 10 | REVENUES 3Q24 2Q24 3Q23 QoQ% YoY% YTD24 YTD23 Ch.% Total Revenues Ps. Million 8,391 6,850 6,343 22 32 22,013 21,687 2 U.S. $ Million 444 399 372 11 19 1,241 1,214 2 Domestic Revenues Ps. Million 4,730 3,458 3,170 37 49 11,738 10,900 8 U.S. $ Million 250 201 186 24 35
Slide 57: Appendix B – Financial Statements
APPENDIX B – FINANCIAL STATEMENTS ALPEK, S.A.B. DE C.V. and Subsidiaries CONSOLIDATED STATEMENT OF FINANCIAL POSITION (Millions of Mexican pesos) Sep-24 Jun-24 Sep-23 QoQ% YoY% ASSETS CURRENT ASSETS: Cash and cash equivalents 7,838 7,305 8,859 7 (12) Restricted cash 374 350 9 7 4,169 Trade accounts
Slide 58: Alpek Consolidated Statement of Income
ALPEK, S.A.B. DE C.V. and Subsidiaries CONSOLIDATED STATEMENT OF INCOME 3Q24 2Q24 3Q23 QoQ% YoY% YTD24 YTD23 Ch.% (millions of Mexican pesos) Revenues 37,156 33,042 33,368 12 11 102,547 108,272 (5) Domestic 12,552 10,050 10,308 25 22 32,850 33,172 (1) Export 24,604 22,992 23,060 7 7 69,697 75,100 (7