Covering the Mexican Economy, Actinver Research

Actinver

Our product offering is based on award winning forecasts and a deep understanding of artificial intelligence tools. 
We cover the Mexican economy with in-depth sector and state knowledge, as well as the integration with the U.S., providing high added value studies. 
To provide comprehensive coverage, we analyze the main macroeconomic variables, sectors, indexes and market information. 
Through solid statistical and computational tools we generate targeted investment strategies for clients with advanced investment profiles such as pension funds, hedge funds and others.

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>Sales grew 7.4% YoY to P$106.5bn, slightly (0.8%) above our estimates, on the back of better-than-expected sales in EAA and LatAm, as sales in North America and Mexico were in line with our estimates, posting 5-7% YoY sales growth.</li>
<li>Overall sales were supported by positive volume and mix, along with recent acquisitions and FX tailwinds (excluding FX, sales grew 0.8% YoY).</li>
<li>Margins were ahead of our more cautious estimates, supported by strong margin expansion in Mexico and EAA (posting 160bps and 240bps YoY expansion, respectively), while North America posted a margin contraction (140bps YoY) as expected.</li>
</ul>


Sales grew 7.4% YoY to P$106.5bn, slightly (0.8%) above our estimates, on the back of better-than-expected sales in EAA and LatAm, as sales in North America and Mexico were in line with our estimates, posting 5-7% YoY sales growth.
Overall sales were supported by positive volume and mix, along with recent acquisitions and FX tailwinds (excluding FX, sales grew 0.8% YoY).
Margins were ahead of our more cautious estimates, supported by strong margin expansion in Mexico and EAA (posting 160bps and 240bps YoY expansion, respectively), while North America posted a margin contraction (140bps YoY) as expected.


Bimbo 3Q24: North America Prevents Further Margin Expansion

Grupo Bimbo SAB de CV

Bimbo 3Q24: North America Prevents Further Margin Expansion