2021 was a record year for Grupo México. Germán Larrea’s firm achieved sales and operating flow (Ebitda) never seen before in its history, despite the volatility generated in the markets at the end of 2021, derived from the new variant of COVID, Ómicron, as well as production restrictions and an increase in costs.
The accumulated sales of Grupo México (first place worldwide in copper reserves) during 2021 reached 14,777 million dollars, 35.5% higher than those obtained in 2020. While in their quarterly comparison they reached 3,376 million dollars, 17.4% above what was obtained in the fourth quarter of 2020.
As for the accumulated Ebitda, this reached 8,927 million dollars during 2021, a record figure for the Group, 66.5% above the previous year and 26.3% above its comparison with the fourth quarter of 2021. Net income increased 70% in the year to 3,599.6 million dollars, while in the quarter it fell 21.6%.
Like the Group, the mining division, which is the most important for the conglomerate, obtained record sales in 2021, for 12,088 million dollars, 41.1% higher than 2020. Simultaneously, in the fourth quarter they reached 3,099 million dollars, 17.8 % more than in the same quarter of 2020. Regarding Ebitda, this division had a record of 7,580 million dollars in 2021, 82.4% higher than in 2020 and 30.3% higher compared to the fourth quarter of 2021.
The record levels in sales and EBITDA were mainly due to a 51.4% increase in copper prices (representing 83% of the mining division’s sales) in 2021, which offset a 3.9% drop in copper production. said mineral from Grupo México and an increase of 17.5% in its total cost, which went from $1.46 to $1.72 dollars.
In the Transportation division, sales during the year totaled 2,523 million dollars, 16.9% higher than in 2020 and 16.5% compared to the fourth quarter of 2021, mainly due to an increase in transported volumes (+10.2%) in the year.
And the infrastructure division obtained accumulated net sales of 558 million dollars, an increase of 5.7% during the year and 8.7% higher compared to the fourth quarter of 2021.
Regarding its capital investment program for 2022, the firm indicated in its financial report that it will be approximately 2,274 million dollars, which will be allocated to different projects. In 2021, the amount of this program was 1,362 million dollars, an increase of 22.2% compared to 2020.
