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    WALMEX *   MX01WA000038

WAL-MART DE MÉXICO, S.A.B. DE C.V.

(WALMEX *)
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Mexico's Alsea posts surprise quarterly profit, defying expectations

07/28/2021 | 05:35pm EDT

MEXICO CITY, July 28 (Reuters) - Mexican restaurant operator Alsea on Wednesday reported a net profit in the second quarter, beating the expectations of analysts who estimated the company would be in the red while struggling to compensate for pandemic shutdowns.

The company, which operates franchises of Starbucks, Domino's Pizza and Burger King in various countries worldwide, posted net profit of 139 million pesos ($6.97 million), marking a rebound from a 2.6 billion peso loss a year before.

Chief Executive Alberto Torrado attributed the boost to fewer pandemic lockdowns and sales that grew during the quarter, including a 20% jump in delivery orders.

Alsea had last notched a net profit in the fourth quarter of 2020 but slipped into a loss in the first few months of this year.

Alsea's revenue in the April-to-June period more than doubled from a year ago to reach 12.5 billion pesos.

Alsea also reported that its dispute with tax authorities over a charge of 3.88 billion pesos for the company's 2014 purchase of eatery Vips from Walmart de Mexico has yet to be resolved.

Walmart de Mexico last year paid more than 8 billion pesos in back taxes over the same transaction after facing pressure from tax authorities. ($1 = 19.9470 pesos at end-June) (Reporting by Daina Beth Solomon and Noe Torres in Mexico City Editing by Drazen Jorgic and Matthew Lewis)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ALSEA, S.A.B. DE C.V. 0.12% 40.81 End-of-day quote.57.63%
STARBUCKS CORPORATION 0.03% 114.67 Delayed Quote.7.16%
WAL-MART DE MÉXICO, S.A.B. DE C.V. -0.10% 71.54 End-of-day quote.27.80%
WALMART INC. 0.33% 145.03 Delayed Quote.0.28%
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Financials
Sales 2021 731 B 36 646 M 36 646 M
Net income 2021 43 519 M 2 182 M 2 182 M
Net Debt 2021 17 835 M 894 M 894 M
P/E ratio 2021 28,5x
Yield 2021 2,28%
Capitalization 1 249 B 62 656 M 62 622 M
EV / Sales 2021 1,73x
EV / Sales 2022 1,60x
Nbr of Employees 228 499
Free-Float 29,5%
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Technical analysis trends WAL-MART DE MÉXICO, S.A.B. DE C.V.
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TrendsNeutralBullishBullish
Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 20
Last Close Price 71,54 MXN
Average target price 69,86 MXN
Spread / Average Target -2,36%
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Managers and Directors
Guilherme Loureiro President, Chief Executive Officer & Director
Paulo Garcia Chief Financial Officer
Enrique Ostalé Cambiaso Executive Chairman
Beatriz Nunez Head-Growth & Information Technology
Alonso Yanez Chief Information Officer
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