UNIFIN Announces Second Quarter 2021 Results

unifin

Mexico City, July 22nd, 2021 – UNIFIN Financiera, S.A.B. de C.V. (“UNIFIN” or “the Company”) (BMV: UNIFINA), announces its results for the second quarter of 2021 (“2Q21”). The Financial Statements have been prepared based on International Financial Reporting Standards (“IFRS”), in accordance with the accounting criteria of the Mexican National Banking and Securities Commission (“CNBV”) and filed with the Mexican Stock Exchange (“BMV”).

2Q21 Highlights

  • Interest income rose by 4.0% vs. 2Q20 to Ps. 2, 915 million, mainly driven by income from the Uniclick and structured finance businesses.
  • Adjusted financial margin increased 85.3% reaching Ps. 815 million, due to lower loan provisions as the economy recovers and payment behavior improves.
  • Operating income increased 42.1x to Ps. 347 million in 2Q21. Net income increased 28.9% reaching Ps. 336 million in 2Q21.
  • The NPL ratio stood at 4.6%, a 30 bps decrease from 4.9% in 1Q21, due to an improvement in clients’ payment behavior in addition to Ps. 460 million of write-offs in accounts receivables.
  • Originations for the period ended at Ps. 6,578 million, a 40.5% increase vs 2Q20, the highest volume since the Covid-19 pandemic began.
  • The Company successfully signed four credit loans for a total amount of US$112 million. Additionally, closed a private securitization for Ps. 3,000 million, allowing UNIFIN to complete its annual funding target by ~75% at the end of 1H21.
  • The Company’s credit ratings were reaffirmed by S&P and Fitch in BB- and BB, respectively.
  • During the quarter, 15 million shares from the buyback program were paid as dividends to equity shareholders.

 

Miranda Newswire – Full Press Release: Download PDF

 

Investor Relations Contact Details

Tel: +52 (55) 4162 8270
E-mail: unifin_ri@unifin.com.mx
Website: www.unifin.com.mx

 
About the Company
UNIFIN is the leading independent Mexican leasing company, operating as a non-banking financial services company. UNIFIN´s main business lines are operating leasing, factoring, auto loans, structured finance, and other lending. Through UNIFIN’s leasing business line, its core business line, the Company offers operating leases for all types of equipment and machinery, various types of transportation vehicles (including cars, trucks, helicopters, airplanes, and other vessels) and other assets in a variety of industries. Through its factoring business line, UNIFIN provides liquidity and financing solutions to its customers by purchasing or discounting accounts receivable and by providing vendor financing. UNIFIN’s auto loans business line is focused on financing the acquisition of new and used vehicles.
 
Forward Looking Statements
This document may contain certain forward-looking statements. These statements are non-historical facts, and they are based on the current vision of the Management of UNIFIN Financiera, S.A.B. de C.V., for future economic circumstances, the conditions of the industry, the performance of the Company and its financial results. The terms “anticipated”, “believe”, “estimate”, “expect”, “plan” and other similar terms related to the Company, are solely intended to identify estimates or predictions. The statements relating to the declaration or the payment of dividends, the implementation of the main operational and financial strategies and plans of investment of equity, the direction of future operations and the factors or trends that affect the financial condition, the liquidity or the operating results of the Company are examples of such statements. Such statements reflect the current expectations of the management and are subject to various risks and uncertainties. There is no guarantee that the expected events, trends, or results will occur. The statements are based on several suppositions and factors, including economic general conditions and market conditions, industry conditions and various factors of operation. Any change in such suppositions or factors may cause the actual results to differ from expectations.

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