Alsea (ALSEA) Q4 2025 earnings summary

Executive summary

• Achieved gradual recovery and disciplined growth, prioritizing high-return investments, portfolio simplification, and expansion with new brands such as Chipotle and Raising Cane's.

• Digital transformation and ESG initiatives advanced, with digital sales up 15.0% year-over-year and loyalty sales up 13.4%.

• Opened 169 new stores in 2025, focusing on quality over quantity and remodeling initiatives.

• Portfolio optimization included divestment of non-core assets in Spain and Chile, and new development agreements for Mexico.

• Demonstrated resilience with performance improvement after a challenging start to 2025.

Financial highlights

• Q4 sales increased 0.5% year-over-year to MXN 21.7 billion; up 12% excluding FX effects.

• Full-year net sales rose 9.1% to MXN 84,110 million, with same-store sales up 4.3%.

• Q4 EBITDA up 2.9% to MXN 3.7 billion, margin expanded 40 bps to 16.8%; full-year EBITDA up 2.7% to MXN 11.9 billion, margin at 14.1%.

• Net income rose 32% in Q4 to MXN 812 million; full-year net income surged 88.7% to MXN 2,564 million.

• Digital orders reached 36.6 million in Q4, with digital sales accounting for 38.6% of total sales in 2025.

Outlook and guidance

• 2026 priorities include disciplined growth, portfolio optimization, innovation, and enhanced profitability.

• Guidance for 2026 targets continued margin and sales improvement, with same-store sales expected to grow low- to mid-single digits.

• Focus remains on free cash flow generation, rationalized CapEx, and leveraging operating efficiencies.