Q3 2024 Grupo Traxion SAB de CV Earnings Call Transcript
Key Points
- Grupo Traxion SAB de CV (GRPOF) reported record high revenues and EBITA figures for the third quarter of 2024.
- The company executed a binding agreement to acquire Solistica, which is expected to significantly enhance its logistics and technology division.
- The acquisition of Solistica is anticipated to increase the logistics division's contribution to more than 50% of consolidated revenues by 2025.
- The company has maintained a strong cash position with a leverage ratio below 2.5 times, adhering to its self-imposed limit.
- Grupo Traxion SAB de CV (GRPOF) has shown significant improvements in ESG ratings, including a higher Carbon Disclosure Project rating and a better score in the Standard and Poor's Corporate Sustainability Assessment.
- The company incurred non-recurrent expenses related to organizational restructuring, particularly in the last mile business.
- There are pending non-recurring expenses expected in the fourth quarter related to the efficiencies program.
- The mobility of personnel division has experienced increased costs, impacting overall expenses.
- Grupo Traxion SAB de CV (GRPOF) plans to divest from Brazilian and Colombian operations of Solistica, indicating potential challenges in international operations.
- The company is considering a more conservative approach to CapEx in 2025, which may impact growth initiatives.
Good day, everyone and welcome to the Traxion third quarter, 2024 earnings call.
At this time, all participants have been placed on a listen-only mode and we will open the floor for your questions and comments after the presentation.
It is now my pleasure to turn the floor over to your host, Abi Lijtszain, Executive President and Co-founder, sir. The floor is yours.
Thank you.
Good morning.
Welcome everyone. I'm very glad to share with you another good set of results in both financial and operating fronts.
Again, traction posted record high revenues and EBITA figures.
There are many positive matters to discuss today, but I want to highlight some interesting details before handing over to Rodo Wolf, Antonio for a deeper dive into the figures.
First on October 10th, we announced that we executed a binding agreement to acquire Solistica, the logistics subsidiary of Group of
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