During 2022 the commercial and consumer division sales totaled $64,807 million pesos, which was $11,868 million pesos more than in 2021. In Sears, Sanborns and Promotora Musical (iShop/Mix-Up), a recovery with higher numbers of customers in the commercial shopping centers and in department stores was observed. The remodeling of stores continued during the year and four iShops and four Dax stores were opened, as well as a Sears store in Plaza Tepeyac.
The operating income reached $5,046 million pesos for the year, attributed to the mix of products with a greater margin of profit and an increase in credit revenue. The annual EBITDA of Grupo Sanborns increased from $4,724 million in 2021 to $7,124 million in 2022, with an EBITDA margin on sales that improved from 8.9% to 11.0%.
The controlling net income of Grupo Sanborns totaled $4,010 million pesos, compared to $1,819 million pesos in 2021. This was due to the better operating results previously mentioned, added to a positive comprehensive financial result.
Grupo Sanborns capital investments totaled $859 million pesos. At the end of December there were 440 units of the various formats in operation, with a sales floor area of 1,187,841 square meters.
During 2022 the sales of Grupo Condumex totaled $49,560 million pesos, due mainly to a greater volume in several of our national and exportation markets.
The operating income totaled $10,195 million pesos, which represents an increase of 70.8% and that takes into consideration the one-time effect from the recognition of the incorporation of Elementia and Fortaleza into the Group (PPA) in the second quarter, as well as from the mix of sales and the strict control of costs and expenditures. The EBITDA totaled $6,851 million pesos.
The net controlling income of Grupo Condumex improved by 62.1% to a total of $8,699 million pesos, in which the one-time effect mentioned in the preceding paragraph is included, compared to $5,366 million pesos in 2021.
he capital investments by Grupo Condumex during the year totaled $341 million pesos and they were made mainly for the purpose of maintaining the Group’s industrial plant in an optimal condition and to keep its technological processes up to date.
Carso Infraestructura y Construcción’s sales in 2022 were in the amount of $38,813 million pesos. This is attributed mainly to greater volumes executed in all our projects, especially those related to the installation of pipelines and structures for the private sector, which also explains the higher profitability of this division.
The operating income and EBITDA were 10.7% and 12.6% of sales, respectively.
The controlling net income was $2,902 million pesos..
t the close of 2022, Carso Infraestructura had a backlog of $38,175 million pesos.
The investments in fixed assets by Carso Infraestructura y Construcción during 2022 were in the amount of $2,420 million pesos.
* Number of projects contracted in the pipeline, where work has not started.
Sales by Carso Energy were in the amount of $4,115 million pesos, an increase of 37.4% over the $2,994 million pesos attained in the previous year. This increase was due mainly to the income from the two hydroelectric plants in Panama which had an increase in generation of 45% in respect to 2021 because of the weather effect of “El Niño”, added to the increase of fuel prices and their consequential spot price. We continue to perform gas transmission services in the Samalayuca-Sásabe pipelines located in Chihuahua and Sonora (100% owned by the Group), as well as in the Waha-Presidio and Waha-San Elizario pipelines, both of which are 51% owned by the Grupo) and which are in the State of Texas, U.S.A.
The increase in income mentioned was reflected in the improvement in operating results, which went above the amount of $1,901 million pesos in 2021 to $3,002 million pesos in 2022. The accumulated EBITDA improved by 48.2%.
The net results of the energy sector were in the amount of $2,775 million pesos compared against the $2,050 million in 2021, due to the reasons mentioned above.
In 2022 the construction of the compression station of the Samalayuca-Sásabe pipeline was initiated, and it will go into operation in the second half of 2023.
Since May, a new business unit named Elementia/Fortaleza was incorporated into the Group, contributing 13.3% of accumulated sales, reporting $24,115 million pesos in sales and $2,223 million pesos of operating income for the May-December period of 2022.
The accumulated operating income (12 months) of these two companies was $3,328 million pesos in 2022, principally from the effect of the business mix during that period. Their combined EBITDA was in the amount of $5,771 million pesos.
The net results of this division were in the amount of $1,005 million pesos, compared to the amount of $2,264 million for the previous year.
Grupo Carso maintains significant investments in companies in various economic categories, such as in the case of GMéxico Transportes, S.A.B. de C.V. (railroad), 15.1%; Infraestructura y Transportes México, 16.7%; as well as 51% in Transpecos Pipeline L.L.C., and Comanche Trail Pipeline L.L.C., which manage the Waha–San Elizario and Waha–Presidio pipelines in Texas, USA; and an investment of 14% in Inmuebles SROM, S.A. de C.V., which is a real estate company that owns commercial strips in Mexico. The book or market value of these investments, as the case may be, is $36,755 million pesos. Our participation in these associated companies or the income from dividends is recognized in our Income Statement.
The sales and EBITDA of these companies in 2022 that would proportionately correspond to Grupo Carso were $8,544 y $3,868 million pesos.
Sincerely,
