—EBITDA increases 10% to Ps.4,284 million during the period—
—Solid performance in both commercial and financial businesses generates
increase of 15% in consolidated revenues, to Ps.27,087 million—
—Consolidated gross portfolio grows 12%, to Ps.93,652 million—
—Company debt, without consolidating the financial business,
decreases 18%, to Ps.13,464 million—
MEXICO CITY, Feb. 20, 2018 (GLOBE NEWSWIRE) -- Grupo Elektra, S.A.B. de C.V. (BMV:ELEKTRA)* (Latibex:XEKT), Latin America’s leading specialty retailer and financial services company and the largest non-bank provider of cash advance services in the United States, reported today financial results for the fourth quarter of 2017 and full year 2017.
Consolidated fourth quarter results
Consolidated revenue was Ps.27,087 million in the period, 15% above the Ps.23,508 million for the same quarter of previous year. Costs and operating expenses were Ps.22,803 million, compared to Ps.19,620 million for the same period of 2016.
As a result, Grupo Elektra reported EBITDA of Ps.4,284 million, 10% higher than the Ps.3,887 million of the previous year’s quarter; EBITDA margin was 16% this period.
Operating profit grew 15% to Ps.3,677 million during the quarter, from Ps.3,207 million in same period of 2016.
The company reported net income of Ps.902 million, compared to net income of Ps.2,924 million a year ago.
| 4Q 2016 | 4Q 2017 | Change | |||||||
| Ps. | % | ||||||||
| Consolidated revenue | $23,508 | $27,087 | $3,580 | 15% | |||||
| EBITDA | $3,887 | $4,284 | $397 | 10% | |||||
| Operating profit | $3,207 | $3,677 | $471 | 15% | |||||
| Net result | $2,924 | $902 | $(2,022) | -69% | |||||
| Net result per share | $12.53 | $3.90 | $(8.63) | -69% | |||||
Figures in millions of pesos
EBITDA: Earnings Before Interest, Taxes, Depreciation and Amortization.
As of December 31, 2016, Elektra* outstanding shares were 233.3 million and as of December 31, 2017, were 231.3 million.
Revenue
Consolidated revenue increased 15%, as a result of 17% and 13% growth in both financial revenues and commercial sales, respectively.
The increase in commercial division sales ̶ to Ps.11,119 million compared to Ps.9,801 million last year ̶ reflects strategies that focus on generating optimum value propositions for the customers, through lines of merchandise that best meet their needs, with world-class service and under the most competitive market conditions.
In the lasts quarters, these strategies have an additional boost with the launch of a new, larger store format, which includes a greater selection of goods and services to satisfy a growing number of families. In October, Grupo Elektra also launched its omnichannel strategy, with its online store www.elektra.com.mx, through which hundreds of thousands of products are sold, at unparalleled prices, from any device and at all times, and further strengthens the company's business operations.
The increase in financial revenue ̶ to Ps.15,968 million from Ps.13,706 million from the previous year ̶ reflects mainly a 21% growth in revenue of Banco Azteca Mexico.
Costs and expenses
Consolidated costs for the quarter increased 28% to Ps.11,965 million, from Ps.9,320 million in the previous year, as a result of a 17% increase in commercial costs, in line with the increase in commercial revenue, and 56% growth in financial cost. The increase in the financial cost results from the creation of loan-loss provisions and higher interest payments, in line with higher market interest rates, as well as increased deposits at Banco Azteca.
Sales, administration and promotion expenses increased 5% to Ps.10,838 million, as a result of higher operation and maintenance costs. Expenses grew slower than consolidated revenue, reflecting strong strategies that drive the company's operating efficiency.
EBITDA and net result
EBITDA grew 10% to Ps.4,284 million this quarter. Operating income increased 15% to Ps.3,677 million, from Ps.3,207 million for the same quarter of 2016.
The most significant variations below EBITDA were the following:
A growth of Ps.427 million in foreign exchange gains, mainly due to a higher net asset position in dollars, compared to the previous year —resulting from the prepayment of US$230 million of dollar-denominated bonds in the period.
A negative variation of Ps.2,852 million in other financial results —which reflects a 15% reduction this quarter in the market value of the underlying assets of financial instruments held by the company, and that does not imply cash flow— in comparison with a 5% increase a year ago. Congruent with this, the negative variation in this item was partially offset by a decrease in the provision of taxes.
An increase of Ps.485 million in loss from the result of subsidiaries, derived from the recognition of the company's participation in CASA.
An increase of Ps.896 million in the impairment account of intangible assets due to the obsolescence recognition of certain system developments at Advance America this year, compared to income due to partial reversal of the deterioration of brands and licenses registered the previous year.
Grupo Elektra reported net income of Ps.902 million, compared to net income of Ps.2,924 million a year ago.
Unconsolidated balance sheet
A proforma exercise of the balance sheet of Grupo Elektra is presented, which allows visualizing the non-consolidated financial situation, excluding the net assets of the financial business, whose investment is valued in this case under the equity method.
This presentation shows the debt of the company —without considering the immediate and term deposits of Banco Azteca, which do not constitute debt with cost for Grupo Elektra.
This provides greater clarity about the situation of the different businesses that make up the company, and will allow participants in the financial markets to make estimates of the value of the company, considering only the relevant debt for such calculations.
Congruent with that, debt with cost was Ps.13,464 million at the end of 2017, 18% below the Ps.16,410 million of the previous year. The balance of cash and cash equivalents was Ps.15,574 million; as a result, the net cash balance excluding the amount of debt with cost at the end of 2017 was favorable at Ps.2,110 million.
As previously announced, in the period, senior notes for US$230 million due in 2018 were prepaid; through such amortization, the company eliminated dollar-denominated bonds. The transaction reflects the firm strategy of Grupo Elektra to further strengthen its solid capital structure.
The company's equity increased 19% to Ps.70,217 million, while the total liabilities decreased 4% to Ps.37,452 million. The ratio of stockholders' equity to total liabilities is 1.9 times.
| As of Dec. | As of Dec. | Change | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 31, 2016 | 31, 2017 | Ps. | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash & marketable fin. instr. Inventories Other current assets Financial instruments Accounts receivables Investment in shares Fixed assets Other assets | $17,213 $7,187 $9,018 $18,437 $13,918 $26,813 $3,717 $1,773 | $15,574 $9,225 $19,527 $17,819 $8,540 $30,320 $5,189 $1,474 | $(1,639) $2,038 $10,510 $(618) $(5,378) $3,507 $1,472 $(299) | -10% 28% 117% 3% -39% 13% 40% -17% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total assets | $98,077 | $107,669 | $9,592 | 10% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Short-term debt Other short-term liabilities Long-term debt Other long-term liabilities | $2,876 $15,498 $13,534 $7,093 | $3,217 $18,156 $10,247 $5,833 | $341 $2,658 $(3,287) $(1,260) | 12% 17% -24% -18% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total liabilities | $39,001 | $37,452 | $(1,549) | -4% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholder´s equity | $59,076 | $70,217 | $11,141 | 19% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Liabilities and equity | $98,077 | $107,669 | $9,592 | 10% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Figures in millions of pesos
Consolidated balance sheet
Loan portfolio and deposits
Banco Azteca Mexico, Advance America and Banco Azteca Latin America’s consolidated gross portfolio as of December 31, 2017 grew 12% to Ps.93,652 million, from Ps.83,477 million for the previous year. Consolidated delinquency rate was 4.7% at the end of the period, compared to 3.4% in the previous year.
The gross portfolio of Banco Azteca Mexico grew 13% to Ps.76,740 million, from Ps.67,743 million a year ago.
The delinquency rate for the bank at the end of the quarter was 4.2%, from 2.6% for the previous year. Past-due loan portfolio is reserved 2.2 times, which reflects a past-due portfolio of Ps.3,238 million, in comparison to allowance for credit risks of Ps.7,230 million in balance, as of December 31, 2017.
The average term of the credit portfolio for principal credit lines – consumer, personal loans and Tarjeta Azteca – was 63 weeks at the end of the fourth quarter.
Grupo Elektra consolidated deposits were Ps.109,373 million, 4% higher than the Ps.105,124 million a year ago. Deposits of Banco Azteca Mexico were Ps.108,654 million, 7% higher than the Ps.101,718 million a year ago.
As of December 31, 2017, the estimated capitalization index of Banco Azteca Mexico was 16.7%.
Infrastructure
Grupo Elektra currently has 7,139 points of contact, compared to 7,396 units a year ago. The reduction is a result of strategies to focus on maximizing profitability of such units.
These strategies involve replacing contact points with the most profitable formats. During the year, this resulted in 56 new Elektra stores at strategic points across Mexico, with greater exhibition area, which increase the offer of products and services, and thereby maximize customer shopping experiences.
The company has 4,440 points of contact in Mexico, 2,048 in the United States, and 651 in Central and South America. The extensive distribution network allows the company to maintain close contact with clients, granting superior market positioning in the countries where it operates.
Twelve month results
Total consolidated revenue in 2017 grew 17% to Ps.94,979 million, from Ps.81,242 million for 2016, boosted by 18% and 15% growth in both financial and commercial businesses, respectively.
EBITDA was Ps.16,754 million, 20% higher than the Ps.13,988 million for the same period a year ago; the EBITDA margin for 2017 was 18%, one percentage point above the prior year. Operating profit grew 26% to Ps.14,437 million during the period.
The company reported net income of Ps.15,228 million, compared to Ps.5,334 million a year ago, mainly due an appreciation this period in the market value of underlying financial instruments that the company holds, which doesn’t imply cash flow, compared to depreciation the prior year.
| 2016 | 2017 | Change | ||||||
| Ps. | % | |||||||
| Consolidated revenue | $81,242 | $94,979 | $13,738 | 17% | ||||
| EBITDA | $13,988 | $16,754 | $2,766 | 20% | ||||
| Operating profit | $11,422 | $14,437 | $3,015 | 26% | ||||
| Net result | $5,334 | $15,398 | $10,064 | ---- | ||||
| Net result per share | $22.86 | $66.57 | $43.71 | ---- | ||||
Figures in millions of pesos
EBITDA: Earnings Before Interest, Taxes, Depreciation and Amortization.
As of December 31, 2016, Elektra* outstanding shares were 233.3 million and as of December 31, 2017, were 231.3 million.
Company Profile:
Grupo Elektra is Latin America’s leading financial services company and specialty retailer and the largest non-bank provider of cash advance services in the United States. The group operates more than 7,000 points of contact in Mexico, the United States, Guatemala, Honduras, Peru, Panama and El Salvador.
Grupo Elektra is a Grupo Salinas company (www.gruposalinas.com), a group of dynamic, fast-growing, and technologically advanced companies focused on creating shareholder value, contributing to build the middle class of the countries in which they operate and improving society through excellence. Created by Mexican entrepreneur Ricardo B. Salinas (www.ricardosalinas.com), Grupo Salinas operates as a management development and decision forum for the top leaders of member companies. The companies include TV Azteca (www.tvazteca.com; www.irtvazteca.com), Grupo Elektra (www.elektra.com.mx: www.grupoelektra.com.mx), Banco Azteca (www.bancoazteca.com.mx), Advance America (www.advanceamerica.net), Afore Azteca (www.aforeazteca.com.mx), Seguros Azteca (www.segurosazteca.com.mx), Totalplay (www.totalplay.com.mx) and Totalplay Empresarial (totalplayempresarial.com.mx). Each of the Grupo Salinas companies operates independently, with its own management, board of directors and shareholders. Grupo Salinas has no equity holdings. However, the member companies share a common vision, values and strategies for achieving rapid growth, superior results and world-class performance.
Investor Relations:
| Bruno Rangel Grupo Salinas Tel. +52 (55) 1720-9167 jrangelk@gruposalinas.com.mx | Rolando Villarreal Grupo Elektra, S.A.B. de C.V. Tel. +52 (55) 1720-9167 rvillarreal@gruposalinas.com.mx |
Press Relations
| Luciano Pascoe Grupo Salinas Tel. +52 (55) 1720-1313 ext. 36553 lpascoe@gruposalinas.com.mx | Daniel McCosh Grupo Salinas Tel. +52 (55) 1720-0059 dmccosh@gruposalinas.com.mx |
| GRUPO ELEKTRA, S.A.B. DE C.V. AND SUBSIDIARIES | ||||||||||||||||||
| CONSOLIDATED INCOME STATEMENTS | ||||||||||||||||||
| MILLIONS OF MEXICAN PESOS | ||||||||||||||||||
| 4Q16 | 4Q17 | Change | ||||||||||||||||
| Financial income | 13,706 | 58 | % | 15,968 | 59 | % | 2,262 | 17 | % | |||||||||
| Commercial income | 9,801 | 42 | % | 11,119 | 41 | % | 1,318 | 13 | % | |||||||||
| Income | 23,508 | 100 | % | 27,087 | 100 | % | 3,580 | 15 | % | |||||||||
| Financial cost | 2,754 | 12 | % | 4,293 | 16 | % | 1,539 | 56 | % | |||||||||
| Commercial cost | 6,566 | 28 | % | 7,671 | 28 | % | 1,105 | 17 | % | |||||||||
| Costs | 9,320 | 40 | % | 11,965 | 44 | % | 2,644 | 28 | % | |||||||||
| Gross income | 14,187 | 60 | % | 15,123 | 56 | % | 936 | 7 | % | |||||||||
| Sales, administration and promotion expenses | 10,300 | 44 | % | 10,838 | 40 | % | 538 | 5 | % | |||||||||
| EBITDA | 3,887 | 17 | % | 4,284 | 16 | % | 397 | 10 | % | |||||||||
| Depreciation and amortization | 742 | 3 | % | 626 | 2 | % | (117 | ) | -16 | % | ||||||||
| Other income, net | (62 | ) | 0 | % | (19 | ) | 0 | % | 43 | 70 | % | |||||||
| Operating income | 3,207 | 14 | % | 3,677 | 14 | % | 471 | 15 | % | |||||||||
| Comprehensive financial result: | ||||||||||||||||||
| Interest income | 181 | 1 | % | 300 | 1 | % | 119 | 66 | % | |||||||||
| Interest expense | (520 | ) | -2 | % | (352 | ) | -1 | % | 168 | 32 | % | |||||||
| Foreign exchange gain, net | 469 | 2 | % | 896 | 3 | % | 427 | 91 | % | |||||||||
| Other financial results, net | 297 | 1 | % | (2,555 | ) | -9 | % | (2,852 | ) | ---- | ||||||||
| 428 | 2 | % | (1,710 | ) | -6 | % | (2,137 | ) | ---- | |||||||||
| Participation in the net income of | ||||||||||||||||||
| CASA and other associated companies | (21 | ) | 0 | % | (506 | ) | -2 | % | (485 | ) | ---- | |||||||
| Income before income tax | 3,614 | 15 | % | 1,462 | 5 | % | (2,152 | ) | -60 | % | ||||||||
| Income tax | (1,282 | ) | -5 | % | (209 | ) | -1 | % | 1,073 | 84 | % | |||||||
| Income before discontinued operations | 2,332 | 10 | % | 1,253 | 5 | % | (1,079 | ) | -46 | % | ||||||||
| Result from discontinued operations | (60 | ) | 0 | % | (108 | ) | 0 | % | (48 | ) | -81 | % | ||||||
| Impairment of intangible assets | 652 | 3 | % | (243 | ) | -1 | % | (896 | ) | ---- | ||||||||
| Consolidated net income | 2,924 | 12 | % | 902 | 3 | % | (2,022 | ) | -69 | % | ||||||||
| GRUPO ELEKTRA, S.A.B. DE C.V. AND SUBSIDIARIES | ||||||||||||||||||
| CONSOLIDATED INCOME STATEMENTS | ||||||||||||||||||
| MILLIONS OF MEXICAN PESOS | ||||||||||||||||||
| 12M16 | 12M17 | Change | ||||||||||||||||
| Financial income | 50,207 | 62 | % | 59,366 | 63 | % | 9,159 | 18 | % | |||||||||
| Commercial income | 31,035 | 38 | % | 35,614 | 37 | % | 4,579 | 15 | % | |||||||||
| Income | 81,242 | 100 | % | 94,979 | 100 | % | 13,738 | 17 | % | |||||||||
| Financial cost | 10,318 | 13 | % | 13,254 | 14 | % | 2,936 | 28 | % | |||||||||
| Commercial cost | 20,354 | 25 | % | 23,989 | 25 | % | 3,635 | 18 | % | |||||||||
| Costs | 30,671 | 38 | % | 37,243 | 39 | % | 6,571 | 21 | % | |||||||||
| Gross income | 50,570 | 62 | % | 57,737 | 61 | % | 7,166 | 14 | % | |||||||||
| Sales, administration and promotion expenses | 36,582 | 45 | % | 40,982 | 43 | % | 4,400 | 12 | % | |||||||||
| EBITDA | 13,988 | 17 | % | 16,754 | 18 | % | 2,766 | 20 | % | |||||||||
| Depreciation and amortization | 2,617 | 3 | % | 2,270 | 2 | % | (347 | ) | -13 | % | ||||||||
| Other (income) expense, net | (51 | ) | 0 | % | 47 | 0 | % | 98 | ---- | |||||||||
| Operating Income | 11,422 | 14 | % | 14,437 | 15 | % | 3,015 | 26 | % | |||||||||
| Comprehensive financial result: | ||||||||||||||||||
| Interest income | 835 | 1 | % | 731 | 1 | % | (104 | ) | -12 | % | ||||||||
| Interest expense | (1,527 | ) | -2 | % | (1,493 | ) | -2 | % | 33 | 2 | % | |||||||
| Foreign exchange gain (loss), net | 796 | 1 | % | (317 | ) | 0 | % | (1,114 | ) | ---- | ||||||||
| Other financial results, net | (3,677 | ) | -5 | % | 9,297 | 10 | % | 12,974 | ---- | |||||||||
| (3,572 | ) | -4 | % | 8,217 | 9 | % | 11,790 | ---- | ||||||||||
| Participation in the net income of | ||||||||||||||||||
| CASA and other associated companies | (638 | ) | -1 | % | (526 | ) | -1 | % | 112 | 18 | % | |||||||
| Income before income tax | 7,211 | 9 | % | 22,128 | 23 | % | 14,917 | 207 | % | |||||||||
| Income tax | (2,401 | ) | -3 | % | (6,167 | ) | -6 | % | (3,766 | ) | -157 | % | ||||||
| Income before discontinued operations | 4,810 | 6 | % | 15,961 | 17 | % | 11,151 | 232 | % | |||||||||
| Result from discontinued operations | (128 | ) | 0 | % | (311 | ) | 0 | % | (184 | ) | -144 | % | ||||||
| Impairment of intangible assets | 652 | 1 | % | (251 | ) | 0 | % | (904 | ) | ---- | ||||||||
| Consolidated net income | 5,334 | 7 | % | 15,398 | 16 | % | 10,064 | 189 | % | |||||||||
| GRUPO ELEKTRA, S.A.B. DE C.V. AND SUBSIDIARIES | ||||||||||||||
| CONSOLIDATED BALANCE SHEET | ||||||||||||||
| MILLIONS OF MEXICAN PESOS | ||||||||||||||
| Commercial Business | Financial Business | Grupo Elektra | Commercial Business | Financial Business | Grupo Elektra | |||||||||
| Change | ||||||||||||||
| At December 30, 2016 | At December 30, 2017 | |||||||||||||
| Cash and cash equivalents | 2,586 | 21,526 | 24,112 | 4,174 | 21,433 | 25,607 | 1,495 | 6 | % | |||||
| Marketable financial instruments | 14,628 | 41,770 | 56,398 | 11,400 | 44,282 | 55,682 | (716 | ) | -1 | % | ||||
| Performing loan portfolio | - | 55,129 | 55,129 | - | 61,727 | 61,727 | 6,598 | 12 | % | |||||
| Total past-due loans | - | 2,704 | 2,704 | - | 4,133 | 4,133 | 1,429 | 53 | % | |||||
| Gross loan portfolio | - | 57,833 | 57,833 | - | 65,860 | 65,860 | 8,027 | 14 | % | |||||
| Allowance for credit risks | - | 6,847 | 6,847 | - | 8,243 | 8,243 | 1,396 | 20 | % | |||||
| Loan portfolio, net | - | 50,986 | 50,986 | - | 57,617 | 57,617 | 6,630 | 13 | % | |||||
| Inventories | 7,208 | - | 7,208 | 9,257 | - | 9,257 | 2,049 | 28 | % | |||||
| Other current assets | 7,355 | 9,692 | 17,048 | 7,654 | 9,638 | 17,292 | 244 | 1 | % | |||||
| Total current assets | 31,776 | 123,975 | 155,751 | 32,485 | 132,970 | 165,454 | 9,703 | 6 | % | |||||
| Financial instruments | 18,437 | 337 | 18,775 | 17,819 | 324 | 18,144 | (631 | ) | -3 | % | ||||
| Performing loan portfolio | - | 25,530 | 25,530 | - | 27,513 | 27,513 | 1,983 | 8 | % | |||||
| Total past-due loans | - | 114 | 114 | - | 279 | 279 | 165 | 144 | % | |||||
| Gross loan portfolio | - | 25,644 | 25,644 | - | 27,792 | 27,792 | 2,148 | 8 | % | |||||
| Allowance for credit risks | - | - | - | - | 734 | 734 | 734 | n.a. | ||||||
| Loan portfolio | - | 25,644 | 25,644 | - | 27,058 | 27,058 | 1,414 | 6 | % | |||||
| Other non-current assets | - | 672 | 672 | 5,099 | 672 | 5,771 | 5,099 | ---- | ||||||
| Investment in shares | 2,727 | - | 2,727 | 2,125 | - | 2,125 | (602 | ) | -22 | % | ||||
| Property, furniture, equipment and | ||||||||||||||
| investment in stores, net | 3,717 | 2,888 | 6,605 | 5,189 | 3,165 | 8,354 | 1,750 | 26 | % | |||||
| Intangible assets | 664 | 6,934 | 7,598 | 661 | 6,700 | 7,361 | (236 | ) | -3 | % | ||||
| Other assets | 1,109 | 348 | 1,457 | 813 | 270 | 1,083 | (374 | ) | -26 | % | ||||
| TOTAL ASSETS | 58,431 | 160,799 | 219,229 | 64,191 | 171,159 | 235,351 | 16,121 | 7 | % | |||||
| Demand and term deposits | - | 105,124 | 105,124 | - | 109,373 | 109,373 | 4,249 | 4 | % | |||||
| Creditors from repurchase agreements | - | 4,200 | 4,200 | - | 7,122 | 7,122 | 2,922 | 70 | % | |||||
| Short-term debt | 2,876 | 411 | 3,287 | 3,217 | 615 | 3,832 | 545 | ---- | ||||||
| Short-term liabilities with cost | 2,876 | 109,735 | 112,611 | 3,217 | 117,110 | 120,326 | 7,716 | 7 | % | |||||
| Suppliers and other short-term liabilities | 12,353 | 8,321 | 20,675 | 15,334 | 9,699 | 25,033 | 4,358 | 21 | % | |||||
| Short-term liabilities without cost | 12,353 | 8,321 | 20,675 | 15,334 | 9,699 | 25,033 | 4,358 | 21 | % | |||||
| Total short-term liabilities | 15,229 | 118,056 | 133,285 | 18,550 | 126,809 | 145,359 | 12,074 | 9 | % | |||||
| Long-term debt | 12,903 | 2,089 | 14,992 | 9,659 | 1,025 | 10,684 | (4,308 | ) | -29 | % | ||||
| Long-term liabilities with cost | 12,903 | 2,089 | 14,992 | 9,659 | 1,025 | 10,684 | (4,308 | ) | -29 | % | ||||
| Long-term liabilities without cost | 7,093 | 4,783 | 11,877 | 5,833 | 3,257 | 9,090 | (2,786 | ) | -23 | % | ||||
| Total long-term liabilities | 19,997 | 6,872 | 26,869 | 15,493 | 4,282 | 19,775 | (7,094 | ) | -26 | % | ||||
| TOTAL LIABILITIES | 35,226 | 124,927 | 160,154 | 34,043 | 131,091 | 165,134 | 4,980 | 3 | % | |||||
| TOTAL STOCKHOLDERS' EQUITY | 23,205 | 35,871 | 59,076 | 30,149 | 40,068 | 70,217 | 11,141 | 19 | % | |||||
| LIABILITIES + EQUITY | 58,431 | 160,799 | 219,229 | 64,191 | 171,159 | 235,351 | 16,121 | 7 | % | |||||
| INFRASTRUCTURE | ||||||||||||||
| 4Q16 | 4Q17 | Change | ||||||||||||
| Points of sale in Mexico | ||||||||||||||
| Elektra | 995 | 13 | % | 1,051 | 15 | % | 56 | 6 | % | |||||
| Salinas y Rocha | 50 | 1 | % | 47 | 1 | % | (3 | ) | -6 | % | ||||
| Banco Azteca | 1,244 | 17 | % | 1,282 | 18 | % | 38 | 3 | % | |||||
| Freestanding branches | 2,313 | 31 | % | 2,060 | 29 | % | (253 | ) | -11 | % | ||||
| Total | 4,602 | 62 | % | 4,440 | 62 | % | (162 | ) | -4 | % | ||||
| Points of sale in Central and South America | ||||||||||||||
| Elektra | 167 | 2 | % | 165 | 2 | % | (2 | ) | -1 | % | ||||
| Banco Azteca | 167 | 2 | % | 165 | 2 | % | (2 | ) | -1 | % | ||||
| Freestanding branches | 355 | 5 | % | 321 | 4 | % | (34 | ) | -10 | % | ||||
| Total | 689 | 9 | % | 651 | 9 | % | (38 | ) | -6 | % | ||||
| Points of sale in North America | ||||||||||||||
| Advance America | 2,105 | 28 | % | 2,048 | 29 | % | (57 | ) | -3 | % | ||||
| Total | 2,105 | 28 | % | 2,048 | 29 | % | (57 | ) | -3 | % | ||||
| TOTAL | 7,396 | 100 | % | 7,139 | 100 | % | (257 | ) | -3 | % | ||||
| Floor space (m²) | 1,500 | 100 | % | 1,592 | 100 | % | 92 | 6 | % | |||||
| Employees | ||||||||||||||
| Mexico | 50,152 | 77 | % | 57,445 | 80 | % | 7,293 | 15 | % | |||||
| Central and South America | 8,838 | 14 | % | 8,928 | 12 | % | 90 | 1 | % | |||||
| North America | 5,947 | 9 | % | 5,714 | 8 | % | (233 | ) | -4 | % | ||||
| Total employees | 64,937 | 100 | % | 72,087 | 100 | % | 7,150 | 11 | % | |||||