UNIFIN Announces Fourth Quarter and Full Year 2021 Results

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Mexico City, February 9, 2022 – UNIFIN Financiera, S.A.B. de C.V. (“UNIFIN” or “the Company”) (BMV: UNIFINA), announces its results for the fourth quarter of 2021 (“4Q21”). 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”). 

4Q21 Highlights

  • Net Income was Ps. 418 million, 36.9% higher than 4Q20 due to lower provisions and costs efficiencies.
  • NPLs closed at 4.5% in 4Q21 vs 4.8% in 4Q20, with a coverage ratio of 79.4%.
  • Interest income rose by 6.2% vs. 4Q20 to Ps. 2,931 million driven by a steady growth strategy in all our business lines. Consequently, portfolio yield stood at 17.5% at the end of 4Q21.
  • Adjusted financial margin for 4Q21 ended at Ps. 847 million, 35.8% higher than in 4Q20 explained by a decrease in reserves and costs efficiencies during 2021.  
  • Operating income ended at Ps. 348 million vs Ps. 194 million in 4Q20, due to tower provisions related to better asset quality and expense efficiency during 2021.
  • Originations for the period ended at Ps. 5,902 million, a 48.7% increase vs. 4Q20 boosted by an important surge in Uniclick.
  • The capitalization ratio ended the year at 18.0% vs 21.4% and excluding MTM was 22.1% vs. 24.8% in 4Q20.

 

Subsequent Event

  • During 1Q22 we closed an additional facility for US $65 million with Proparco reinforcing the Company’s commitment with ESG operations.

 

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 leasing, factoring, auto loans, structured finance, bridge loans (leasing) 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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