TRAXION Announces Third Quarter 2024 Results

The figures presented in this report have been prepared in accordance with International Financial Reporting Standards (IFRS) and are expressed in nominal millions of Mexican Pesos (MXN), unless otherwise stated.

  • Consolidated revenue reached Ps. 7,530 million, a 17.9% increase compared to 3Q23.
  • Consolidated adjusted EBITDA totaled Ps. 1,394 million, an 18.7% growth compared to 3Q23.
  • Adjusted EBITDA margin was 18.5%, a 10-basis point expansion compared to 3Q23.
  • CapEx in 3Q24 reached Ps. 1,021 million, in line with TRAXIÓN’s investment plan.
  • Average fleet in operation during 3Q24 was 11,342 power units.
  • Net debt to EBITDA ratio was 2.15x at the end of 3Q24.
  • TRAXIÓN recieved its 2024 Corporate Sustainability Assessment (CSA) rating from Standard & Poor’s. The Company scored 58 points (up 6 points), placing it in the top 8% of the highest-rated companies globally, ranking 25th out of a universe of 315 companies worldwide.
  • On October 10, TRAXIÓN informed investors that it had signed an agreement to acquire Solística, an integrated logistics services company, subsidiary of Grupo FEMSA. Solística operates an asset-light model offering 3PL and freight brokerage services, with operations in Mexico, Brazil, and Colombia, and holds a leading position in its business lines, particularly in northern Mexico. The transaction is subject to customary regulatory approvals, expected to be obtained in the first quarter of 2025. The agreed transaction price is approximately Ps. 4,060 million, on a debt-and-cash-free basis, and will be paid in cash. TRAXIÓN expects to close the transaction using a mixture of cash on hand and existing credit facilities, while remaining with a leverage below 2.5x net debt to EBITDA upon closing.

Miranda Newswire – Full Press Release: Download PDF

Investor Relations Contact Details

Antonio Tejedo

a.tejedo@traxion.global  

Elba Salcedo

e.salcedo@traxion.global

Tel: +52 55 5046 7900 ext. 3215

 
About TRAXIÓN 
TRAXIÓN is the leading transportation and logistics company in Mexico. It offers a one-stop solution through the broadest and most diverse service portfolio in the country. TRAXIÓN’s platform operates three main business segments: Mobility of Cargo, Logistics and Technology, and Mobility of Personnel. The Company has 10 highly recognized brands for their leadership in different sector niches. TRAXIÓN was founded in 2011 and ended the 3Q24 with an average fleet of 11,342 power units, 747,602 square meters of 3PL logistic warehousing space, national reach, more than 1,300 clients, and over 21,000 employees. TRAXIÓN’s most important competitive advantages include: an experienced and committed management team, the use of the latest technology, being the only consolidator in a highly fragmented industry and the only institutional company in a sector dominated by family-owned companies, a diverse portfolio comprised of premium services, long-term partnerships with clients and suppliers, and an anticipated market outlook.
Logistics and Technology
Through this segment, TRAXIÓN provides logistics solutions across the supply chain using digital platforms and technology-driven applications and an asset-light focus. Among the services rendered are integrated: 4PL logistics solutions, 3PL warehouse management, last-mile, courier and delivery services, and rail intermodal cargo brokerage. At the end of 3Q24, it operated more than 747,602 square meters of 3PL warehouse, and a last-mile fleet of 320 units.
Mobility of Cargo
This segment provides integrated cargo solutions. Amongst the services rendered are dedicated freight, less-than-truckload, intermodal, refrigerated freight, international cargo and borders transfers, petrochemicals, moving and specialized transportation. We operate 5 leading and renowned brands: Transportadora EGOBA, Muebles y Mudanzas MYM, Grupo SID, Auto Express Frontera Norte, and Autotransportes El Bisonte. TRAXIÓN operates one of the youngest, most modern, and flexible fleets in the industry, with 2,350 power units at the end of 3Q24.
Mobility of Personnel
The mobility of personnel segment provides personnel transportation services to corporations, industrial parks, and hotels, as well as student transportation to schools and universities, and tourism services to groups. Through its subsidiary LIPU, TRAXIÓN operates a centralized platform under dedicated contracts or spot service and the largest and most modern fleet in Mexico composed of an average of 8,672 power units at the end of 3Q24.
Disclaimer
The information disclosed in this press release may contain statements with estimates regarding the future of Grupo TRAXIÓN, S.A.B. of C.V. and its subsidiaries (collectively “TRAXIÓN” or the “Company”), which are not historical facts and represent the current opinion of the TRAXIÓN administration based on the information available to the Company. Such statements are subject to certain risks and factors made based on assumptions. The words “anticipated”, “believe”, “estimate”, “expect”, “plan”, and other similar expressions, related or not with the Company, seek to give estimates or forecasts. Different factors may cause the results implicit in the statements to be materially different with respect to any future result or event of, or related to, TRAXIÓN that may be included expressly or implicitly within said statements. Also, if the assumptions used in the statements turn out to be incorrect, the actual results may vary materially from those described herein as anticipated, believed, estimated or expected. TRAXIÓN assumes no obligation to update the statements or information presented within this release.

Share our news:

LinkedIn
Twitter
WhatsApp
Email

Latest News

[hubspot type=form portal=6135587 id=ac859e78-dc50-4cb5-8405-98ba8832f825]