Grupo Elektra’s sales closed the last quarter of 2021 with a growth of 28%, registering revenues of 43,062 million pesos (mdp), an increase coming mainly from the company’s financial income, coupled with a better dynamism in its commercial business unit.
In the financial report for the fourth quarter of 2021 sent to the Mexican Stock Exchange (BMV), the company reported that its financial income unit –operated through Banco Azteca– grew 44%, mainly driven by a 19% increase in the balance of the gross portfolio in the last year, which closed with a balance of 123,198 million pesos.
In addition, the bank recorded a delinquency rate of 4.7%, which was unchanged from 2020.
Regarding its commercial unit, sales grew by 20%, reaching 20,790 million pesos during the period, which, according to the company, reflects a “solid growth” in sales of Italika motorcycles.
These indicators led to a 44% rise in the company’s operating flow, which closed at 5,939 million pesos during the period. In addition, Elektra recorded an operating profit of 3,680 million pesos (57% higher than in the same period of 2020), and a net profit of 1,948 million pesos, an indicator that fell 38% compared to 2020, when it registered profits of 3,118 million pesos.
The company also registered an increase in its costs, which rose 29% to reach 20,970 million pesos. The largest increase occurred in the financial business (37%) in line with the growth of its gross loan portfolio, while the commercial cost grew by 27%, which the company considers “consistent” with the higher income from the sale of goods.
In the annual accumulated, Elektra’s sales grew by 21%, with an operating flow of 22,015 million pesos. In addition, the company exceeded the losses of 1,914 million pesos, suffered in 2020, by registering profits of 12,944 million pesos.
