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>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)

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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