#Mexico #Mexico City #Grupo Elektra #Banco Azteca #PS.49803 million

Grupo Elektra Financial Results for Q1 2026

Grupo Elektra, S.A.B. de C.V., celebrated as Latin America's largest specialty retailer and a leading provider of financial services, has recently shared its financial results for the first quarter of 2026. The organization has once again shown its durability despite a slight drop in revenue compared to last year. The consolidated revenues reached approximately PS.49,803 million, demonstrating the company's continued leadership in the competitive financial landscape of Latin America.

Financial Overview

During Q1 2026, Grupo Elektra experienced a revenue decrease from PS.51,768 million reported in the same quarter of the previous year. This marks a reduction of about 4%. The consolidated costs for this quarter were reported at PS.21,819 million, a drop from PS.23,550 million during the equivalent timeframe last year. Parallelly, sales, administrative, and promotional expenses rose slightly to PS.21,365 million, compared to PS.21,280 million in Q1 2025.

Despite the revenue decrease, EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) showed resilience with a reported figure of PS.6,619 million, down from PS.6,939 million in 2025. Other financial results, however, presented a favorable variation of PS.564 million, hinting at decreased market value reductions on underlying financial instruments compared to the previous year.

Grupo Elektra's net profit hit PS.1,633 million, marking a decline from PS.1,865 million from the same quarter last year.

Balance Sheet Insights

The company highlighted some positive developments in its balance sheet. The consolidated gross loan portfolio of Banco Azteca México and its subsidiaries surged to PS.212,929 million, up from PS.198,915 million the previous year. The company's non-performing loan ratio stood at 5.8%, a figure that remains relatively stable when evaluated against previous data.

Banco Azteca México's gross loan portfolio was PS.208,270 million, indicating substantial growth from PS.190,630 million in the prior year. Despite this growth, the non-performing loan ratio slightly improved to 5.7% during this period, showcasing the bank's effective risk management strategies.

In terms of deposits, Grupo Elektra reported PS.249,589 million in consolidated deposits for the current quarter, an improvement from PS.243,931 million in the same period a year ago. Particularly notable is Banco Azteca México's traditional deposits which reached PS.240,348 million, a rise from PS.236,607 million in 2025. The liquidity coverage ratio for Banco Azteca was reported at an impressive 724%, while the estimated capitalization ratio stood at 15.53%.

Company Profile

Grupo Elektra operates over 6,000 locations across Mexico, the United States, Guatemala, Honduras, and Panama. Not only is it the leading non-bank provider of cash advance services in the US, but it also boasts a strong market presence across the Latin America retail landscape.

The group is a significant part of the larger Grupo Salinas umbrella, driven by its founder Ricardo B. Salinas. Grupo Salinas includes several entities, such as TV Azteca, Banco Azteca, and others, all focused on enhancing economic growth through innovative market strategies and social welfare programs. These companies function independently but share a collective vision for growth and community advancement.

Future Outlook

While the reported results show challenges, especially in revenue growth, Grupo Elektra remains focused on leveraging its market strengths and operational efficiencies to navigate the evolving economic landscape. And as it continues to invest in enhancing its various services and optimizing its financial offerings, it aims to address market demands effectively. Investor confidence remains crucial as the company paves its way for future developments and growth trajectories in the retail and financial sectors.