Multiexport Foods (MULTI-X) Q3 2024 earnings summary

Executive summary

• Net income for Q3 2024 reached $2,488 million MXN, with a basic EPS of $0.40 per share, reflecting strong profitability.

• Total assets as of September 30, 2024, were $124,413 million MXN, with a robust capital position and high liquidity.

• The bank maintained a conservative risk profile, with a 0.00% non-performing loan ratio and high coverage.

Financial highlights

• Interest income for Q3 2024 was $18,077 million MXN, up $6,742 million from Q2; interest expense rose to $13,383 million MXN.

• Net interest margin improved to 2.03% in Q3, and ROE increased to 19.50%; ROA reached 3.18%.

• Operating income before taxes was $3,290 million MXN; net income was $2,488 million MXN.

• Total equity stood at $21,376 million MXN, with a capitalization ratio of 40.69% on credit risk assets.

• Liquidity coverage ratio averaged 486.17%, well above regulatory minimums.

Outlook and guidance

• No dividend payments are planned; profits will be reinvested to support business growth in Mexico.

• The bank expects to maintain strong liquidity and capital ratios, with a focus on corporate clients and prudent risk management.