Grupo Elektra's EBITDA Surges 42% in Q3 2024
Tuesday, Oct 22, 2024 8:41 pm ET
1min read Grupo Elektra, Latin America's leading specialty retailer and financial services company, has announced a remarkable 42% increase in earnings before interest, taxes, depreciation, and amortization (EBITDA) for the third quarter of 2024. The company's EBITDA reached Ps.6,865 million, reflecting its strong performance across both financial and commercial businesses.
The growth in financial income, particularly from Banco Azteca México, significantly contributed to the EBITDA increase. The bank's income grew by 13%, driven by the expansion of the gross credit portfolio. This expansion has not only boosted financial income but also contributed to the wellbeing of millions of families and fostered business development.
The expansion of the gross credit portfolio also impacted the financial income growth. As the portfolio grew, so did the financial income, reflecting the bank's ability to effectively manage its credit risk and maintain a strong asset quality.
The increase in commercial sales, particularly in motorcycles, telephony, and white goods, also contributed to the EBITDA growth. These products enhance business productivity, facilitate efficient connectivity, and improve the quality of life for a growing number of families. The company's cost management strategies, such as supply chain efficiencies and lower advertising expenses, further contributed to the EBITDA growth by optimizing processes throughout the organization.
In conclusion, Grupo Elektra's 42% EBITDA growth in Q3 2024 is a testament to the company's strong performance across its financial and commercial businesses. The growth in financial income, driven by Banco Azteca México's income and asset quality, and the increase in commercial sales, coupled with effective cost management strategies, have all contributed to this remarkable achievement.
The growth in financial income, particularly from Banco Azteca México, significantly contributed to the EBITDA increase. The bank's income grew by 13%, driven by the expansion of the gross credit portfolio. This expansion has not only boosted financial income but also contributed to the wellbeing of millions of families and fostered business development.
The expansion of the gross credit portfolio also impacted the financial income growth. As the portfolio grew, so did the financial income, reflecting the bank's ability to effectively manage its credit risk and maintain a strong asset quality.
The increase in commercial sales, particularly in motorcycles, telephony, and white goods, also contributed to the EBITDA growth. These products enhance business productivity, facilitate efficient connectivity, and improve the quality of life for a growing number of families. The company's cost management strategies, such as supply chain efficiencies and lower advertising expenses, further contributed to the EBITDA growth by optimizing processes throughout the organization.
In conclusion, Grupo Elektra's 42% EBITDA growth in Q3 2024 is a testament to the company's strong performance across its financial and commercial businesses. The growth in financial income, driven by Banco Azteca México's income and asset quality, and the increase in commercial sales, coupled with effective cost management strategies, have all contributed to this remarkable achievement.
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