Covering the Mexican Economy, Actinver Research

Actinver

Covering the Mexican Economy

Actinver Research

Actinver is a mexican leading financial group, that generates well being for individuals and companies through advisory services that provides investment management to maintain and grow their wealth.

Equity Bottom-Up

<ul>
<li>The housing sector in Mexico has solid fundamentals, with attractive growth expectations for listed developers considering their healthy financial position and access to financing sources.</li>
<li>As a result, these companies are poised to capture the increased demand that the housing deficit generates during the coming years.</li>
<li>Since the start of the bankruptcy processes of the three largest housing developers (GEO, HOMEX, and URBI) in 2014, housing production has maintained a downward trend.</li>
</ul>


The housing sector in Mexico has solid fundamentals, with attractive growth expectations for listed developers considering their healthy financial position and access to financing sources.
As a result, these companies are poised to capture the increased demand that the housing deficit generates during the coming years.
Since the start of the bankruptcy processes of the three largest housing developers (GEO, HOMEX, and URBI) in 2014, housing production has maintained a downward trend.


Actinver Research - Housing Sector : Building a More Profitable Future (Sector Update)

<ul>
<li>ARA (Outperform): ARA’s financial figures came in line with our estimates.</li>
<li>Although the housing volume gained +2% YoY, the average selling price contracted -6%, reflecting higher participation of the affordable level in the company’s sales mix.</li>
<li>However, it is worth noting that ARA’s margin expansion remained positive, gaining +0.9 pp in its EBITDA margin to 14.8%.</li>
</ul>


ARA (Outperform): ARA’s financial figures came in line with our estimates.
Although the housing volume gained +2% YoY, the average selling price contracted -6%, reflecting higher participation of the affordable level in the company’s sales mix.
However, it is worth noting that ARA’s margin expansion remained positive, gaining +0.9 pp in its EBITDA margin to 14.8%.


ARA (Outperform): Results 1Q24; The Margin Expansion Continues

Mexico

Consorcio ARA SAB de CV and its subsidiaries design and construct entry-level and middle-income residential housing developments throughout Mexico.  The Company also operates as a contractor for non-affiliated clients in the construction, promotion, and marketing of commercial and industrial projects.

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Consorcio ARA (ARA* MM EQUITY)

Actinver Research - Housing Sector : Building a More Profitable Future (Sector Update)

The housing sector in Mexico has solid fundamentals, with attractive growth expectations for listed developers considering their healthy financial...

Actinver

ARA (Outperform): Results 1Q24; The Margin Expansion Continues

ARA (Outperform): ARA’s financial figures came in line with our estimates. Although the housing volume gained +2% YoY, the average selling price...

Actinver

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52-week Range

Market Cap (USDm)

P/E

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