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

Kimberly-Clark De Mexico-A / Equity Bottom-Up

<ul><li>Better-than-expected 2Q24 results leads a more positive outlook.</li><li>While we had already forecasted healthy profitability ahead, we are raising our FY24E-25E estimates at the margin level, while leaving our top-line estimates fairly unchanged.</li><li>We continue to see KCM with healthy brand power, able to pass through potential cost headwinds and leveraging on potentially improving product mix.</li></ul>

Better-than-expected 2Q24 results leads a more positive outlook.While we had already forecasted healthy profitability ahead, we are raising our FY24E-25E estimates at the margin level, while leaving our top-line estimates fairly unchanged.We continue to see KCM with healthy brand power, able to pass through potential cost headwinds and leveraging on potentially improving product mix.

Actinver Research - Kimberly-Clark de Mexico: 2Q24 – Keeping it rolling

<ul><li>Within Consumer, we see Health & Personal Care as mostly defensive.</li><li>While perfect conditions are hard to align, or remain, these days, we see mostly favorable conditions ahead for this segment, at least where it matters the most.</li><li>Throughout the last years, consumers have faced a wide array of HPC options, some of them later phased out as companies started to focus on their core products amid rising costs.</li></ul>

Within Consumer, we see Health & Personal Care as mostly defensive.While perfect conditions are hard to align, or remain, these days, we see mostly favorable conditions ahead for this segment, at least where it matters the most.Throughout the last years, consumers have faced a wide array of HPC options, some of them later phased out as companies started to focus on their core products amid rising costs.

Actinver Research - Health & Personal Care: Healthy revaluation expected (Coverage Initiation)

Mexico

Kimberly-Clark de Mexico, S.A.B. de C.V. manufactures, markets and distributes consumer, industrial, and institutional hygiene products. The Company produces feminine care items, diapers, toilet paper and facial tissues.

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Kimberly-Clark De Mexico-A (KIMBERA MM)

Actinver Research - Kimberly-Clark de Mexico: 2Q24 – Keeping it rolling

Better-than-expected 2Q24 results leads a more positive outlook. While we had already forecasted healthy profitability ahead, we are raising our...

Actinver

Actinver Research - Health & Personal Care: Healthy revaluation expected (Coverage Initiation)

Within Consumer, we see Health & Personal Care as mostly defensive. While perfect conditions are hard to align, or remain, these days, we see...

Actinver

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