UNIFIN Announces First Quarter 2021 Results

Mexico City, April 22nd, 2021 – UNIFIN Financiera, S.A.B. de C.V. (“UNIFIN” or “the Company”) (BMV: UNIFINA), announces its results for the first quarter of 2021 (“1Q21”). 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”). 

1Q21 Highlights

  • The Company successfully issued Senior Notes for US$400 million with a 9.875% coupon. Subsequently the company concluded an exchange offer for the 2023 and 2025 Senior Notes for US$127.6 million, bringing the 2029 notes issuance to US$527.6 million.
  • During 1Q21 the Company signed five new credit facilities for a total of Ps. 8,218 million.
  • Cash and cash equivalents in 1Q21 reached Ps. 4,785 million.
  • Total portfolio reached Ps. 65,444 million, an increase of 3.3% vs 1Q20, aligned with our originations and risk strategy.
  • The NPL ratio stood at 4.9% at the end of 1Q21. The coverage ratio increased to 86.1% vs 51.9% in 1Q20.
  • For 1Q21 the capitalization ratio stood at 21.5% vs 19.8% in 1Q20 due to the successful capital increase carried out in 2020.

 

COVID-19 Support Program Update

Clients

522

Total Deferred Payments

Ps. 1,894 million

Current Outstanding Balance

Ps. 3,250 million

 

  • As of the end of 1Q21, 92.8% of the clients were current on their payments.

 

Since the beginning of the Covid-19 pandemic, the Company has redefined its commercial approach to adapt to the challenging economic circumstances. To strengthen our risk management approach, UNIFIN implemented strict origination standards and redefined the risk scorecard. Asset quality and the Company’s overall financial health were once again tested and proved resilient.

 

Miranda Newswire – Full Press Release: Download PDF

 

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.

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, specializing in three main business lines: operating leasing, factoring, auto loans 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.

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