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

Mexico: More Institutional Changes in the Pipeline

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>Revenues of P$13.2bn were driven by growth across all segments.</li><li>Consolidated sales growth of 3.8% YoY was driven by Consumer and Away from Home (1% and 2%, respectively, yet below our estimates), while Exports surprised to the upside with a 25% YoY increase, driven by FX headwinds and hard roll sales.</li><li> Margins were mostly better than our cautious estimates, with EBITDA margin reaching 26.3%, still a YoY and QoQ contraction.</li></ul>

Revenues of P$13.2bn were driven by growth across all segments.Consolidated sales growth of 3.8% YoY was driven by Consumer and Away from Home (1% and 2%, respectively, yet below our estimates), while Exports surprised to the upside with a 25% YoY increase, driven by FX headwinds and hard roll sales. Margins were mostly better than our cautious estimates, with EBITDA margin reaching 26.3%, still a YoY and QoQ contraction.

Actinver Research - Kimberly-Clark de Mexico: 3Q24 margin contraction as expected