UNIFIN Reports Second Quarter 2022 Results

Mexico City, July 21, 2022 – UNIFIN Financiera, S.A.B. de C.V. (“UNIFIN” or “the Company”) (BMV: UNIFINA), announces its results for the second quarter of 2022 (“2Q22”). 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”). 

2Q22 Highlights

• At the end of 2Q22 the cash and cash equivalents were Ps. 5,305 million.
• Interest income rose by 4.3% vs. 2Q21 to Ps. 3,039 million, mainly driven by a 6.2% increase in Leasing and a growing trend in Uniclick. Consequently, portfolio yield ended at 16.8%.
• Financial margin for 2Q22 ended at Ps. 1,219 million with a 25.8% growth compared to 2Q21, explained by an improvement in interest income and a lower interest cost.
• Operating income increased by 6.7% to Ps. 371 million as compared to Ps. 347 million in 2Q21, due to the improvement in interest costs.
• Net Income in 2Q22 recorded Ps. 342 million, a 1.6% increase vs. 2Q21 driven by higher interest income, lower interest costs and stable asset quality.
• Collections recorded Ps. 6,518 million a 6.8% increase as compared to 2Q21 in line with the Company’s effort to improve the process.
• Originations for the period ended at Ps. 4,731 million, a 28.1% decrease as compared to 2Q21. This result is in line with the Company’s strategy to prioritize liquidity.
• Uniclick demonstrated its capacity to support SME’s financial needs through its innovative digital platform, closing the quarter with Ps. 672 million in originations, a 78.4% increase vs. 2Q21.
• NPLs closed at 4.6% in 2Q22 in line with the same period of 2021, while coverage ratio recorded 78.5%.
• During the quarter, the Company closed a private securitization for a total amount of USD 500 million and reached an agreement with the bondholders of its USD200 million due in 2022, to extend its final maturity to May 2024.

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, working capital 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.