Unifin Announces Consolidated Earnings Results for the Third Quarter of Fiscal 2018
October 19, 2018 at 11:00 am EDT
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UNIFIN announced consolidated earnings results for the third quarter of fiscal 2018. For the quarter, the company announced total revenues increased 34% for the first time to reach almost MXN 5 billion, of which 91% were related to the leasing business, an increase of 29% year-over-year. This growth was due to the company capabilities of re-pricing new originations, the recovery in the conversion process of the company’s clients and the pickup in revenues from past originations carried out by the end of the previous quarter. Operating income reached MXN 660 million, a 12% increase compared to the MXN 589 million of recurring operating income in the third quarter of 2017. Consolidated net income reached MXN 545 million during the quarter, a 2.8% increase versus the company’s recorded net income for the third quarter of last year. Considering the number of shares outstanding, the company’s trailing 12-month earnings per share is MXN 5.46 versus MXN 4.46 at the third quarter of last year, and the NOI EPS stands at MXN 6.23.
Unifin Financiera SAB de CV SOFOM ENR is a Mexico-based company engaged in the financial industry. The Company operates though three business segments. The Operating Lease segment is responsible for operating leases for construction and industrial equipment, machinery, various types of transportations vehicles, including cars, trucks, helicopters, airplanes and other vessels, and other capital assets. The Financial Factoring segment provides liquidity and financing solutions to its customers by purchasing or discounting their accounts receivable and by providing vendor financing. The Auto Loans and Other Loans segment is focused on financing the acquisition of new and used vehicles. The Company provides its services to small and medium sized companies, as well as individuals.
UNIFIN FINANCIERA, S. A. B. DE C. V. 