EconomyFinancialAlfa records historical income thanks to its subsidiaries Alpek...

Alfa records historical income thanks to its subsidiaries Alpek and Sigma

Alfa’s good results were mainly driven by higher average prices at Alpek and Sigma. The annual increase in Alfa’s income and its flow was 23.0% and 32% at the end of 2021. While, in the fourth quarter of 2021, the income and flow of the business group increased 27% and 21%, compared to the same quarter of the previous year.

Alpek continued to exceed expectations, driven by strong benchmark margins in polyester, plastics and chemicals during the fourth quarter of 2021. At the end of the year, its revenues were 7,697 million dollars and its Ebitda was 2,022 million dollars, registering a annual growth of 45.0% and 32%, respectively.

Sigma also performed better than expected, thanks to double-digit EBITDA growth in the fourth quarter of 2021 in Mexico and Europe, posting record annual revenues and EBITDA of $6,817 million and $741 million, respectively.

In contrast, delays in the delivery of equipment caused by the global shortage of semiconductors, lower sales to the Government and the decrease in voice revenues in its business segment, impacted Axtel’s quarterly and annual results, which ended 2021 with revenues of 562 million dollars, with a drop of 3.0%.

In that sense, it should be noted that Alfa registered a majority net loss of 166 million dollars in the fourth quarter of 2021, including aggregate non-cash losses of 212 million dollars for non-cash asset impairments (153 million dollars) and deferred taxes ( $59 million), primarily related to the sale of Sigma’s plants in Europe and the curtailment of certain Alpek operations.

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