| MEXICO CITY, Oct. 22, 2025 /PRNewswire/ -- Grupo Rotoplas S.A.B. de C.V. (BMV: AGUA*) ("Rotoplas", "the Company"), the leading provider of water solutions in the Americas, today reports its unaudited financial results for the third quarter of 2025. The information has been prepared in accordance with International Financial Reporting Standards (IFRS). Figures are expressed in millions of Mexican pesos. Key Highlights Q3'25 - Net sales were $2.7 billion, a 5.9% decrease compared to Q3'24. On a cumulative basis, net sales reached $8.3 billion, a 2.7% decrease compared to 2024.
- EBITDA of $285 million, a 15.0% increase year-over-year, with a 10.7% margin. The cumulative EBITDA was $954 million, with a cumulative margin of 11.6%.
- Despite having a 43.7% increase in the operating result, net loss was $198 million in Q3'25. In the first nine months of the year, net loss was $133 million.
- Service sales increased by 50.0% during the quarter and by 25.6% in the first nine months of the year, primarily driven by bebbia.
- bebbia reached more than 159,000 active subscribers at the end of September.
Message from the CEO "The third quarter unfolded in a challenging operating environment. We remained focused on what we can controlamid market volatility. In Argentina, the construction market remained depressed, while in Mexico, heavy rains tempered product demand. Even so, our results reflect Rotoplas' resilience and commitment to maintaining industry leadership and protecting profitability. Operating expenses remained under strict control, resulting in a more efficient and sustainable cost structure that positions us well to expand margins as market conditions improve. The services segment continued its positive trajectory, further increasing its share within the portfolio, while the United States delivered its second consecutive profitable quarter. Meanwhile, Central America, Peru, and Brazil maintained double-digit growth and improved profitability, strengthening their relevance and driving consolidated performance. We continue to prioritize disciplined expense management, cash generation, and working capital efficiency—supporting a solid balance sheet and reinforcing our commitment to long-term sustainable value creation for all stakeholders." — Carlos Rojas Aboumrad Results January – September
(Figures in millions of Mexican pesos) Indicator | Q3'25 | Q3'24 | %YoY | 9M'25 | 9M'24 | %YoY | Net Sales | 2,671 | 2,838 | (5.9 %) | 8,251 | 8,477 | (2.7 %) | Adjusted EBITDA[1] | 285 | 247 | 15.0 % | 954 | 1,253 | (23.9 %) | % margin | 10.7 % | 8.7 % | 200 bps | 11.6 % | 14.8 % | (320) bps | Net Result | (198) | (73) | NA | (133) | 291 | NA | ROIC[2] | 5.8 % | 10.3 % | (450) bps |
| Net Financial Debt[3] | 3,789 | 3,798 | (0.2 %) |
| Net Financial Debt / EBITDA2 | 3.2 x | 2.1 x | 1.1 x |
|
Q3'25 vs Q3'24 Results - Net Sales reached $2,671 million, 5.9% below Q3'24, driven by a 9.9% decline in the product segment, partially offset by a 50.0% growth in the services segment.
- Gross profit was $1,116 million. Gross margin closed at 41.8%, expanding by 20 bps due to strict cost control and greater operational efficiencies, despite lower sales.
- Operating income reached $127 million, up 43.7% compared to Q3'24. The increase was mainly due to lower operating expenses, reflecting greater efficiency.
- EBITDA closed at $285 million, and the EBITDA margin stood at 10.7%. This represented a year-over-year expansion of 200 bps, driven by broad-based expense control.
- Net loss was $198 million, due to higher financial expenses related to foreign exchange losses and the inflation effect in Argentina.
Cumulative Results 2025 vs 2024 - Net sales reached $8,251 million, a 2.7% decrease, driven by a 5.0% decline in the product segment, partially offset by a 25.6% growth in the services segment.
- Gross profit was $3,449 million, a 12.0% decrease. Gross margin closed at 41.8%, contracting by 450 bps mainly due to lower sales volumes as Argentina continued to face a weak construction environment, and in Mexico, given a high comparison base from the 2024 drought.
- Operating income reached $473 million, a 42.1% decrease compared to 2024. This decline was the result of gross margin pressure, as lower sales impacted operating leverage. EBITDA closed at $954 million, with an EBITDA margin of 11.6%.
- Net loss was $133 million. The decline reflects lower operating income and higher financial expenses from FX losses and inflation in Argentina.
- Net financial debt / EBITDA[4]leverage closed at 3.2x, mainly reflecting the decrease in LTM EBITDA, as financial debt increased by only 4.0% while net financial debt decreased 0.2% year-over-year.
- CapEx for the period amounted to $353 million, primarily focused on the services segment in Mexico, particularly in bebbia and in water treatment and recycling plants.
Sales and EBITDA by Geography and Solution January - September
(Figures in millions of Mexican pesos) Sales | Q3'25 | Q3'24 | % YoY | 9M'25 | 9M'24 | % YoY | Mexico | 1,536 | 1,513 | 1.5 % | 4,784 | 5,046 | (5.2 %) | Argentina | 497 | 728 | (31.8 %) | 1,498 | 1,724 | (13.1 %) | United States | 267 | 292 | (8.5 %) | 862 | 777 | 10.9 % | Other | 370 | 305 | 21.5 % | 1,107 | 930 | 19.0 % | Products | 2,388 | 2,649 | (9.9 %) | 7,429 | 7,823 | (5.0 %) | Services | 283 | 189 | 50.0 % | 822 | 654 | 25.6 % | EBITDA | Q3'25 | Q3'24 | % YoY | 9M'25 | 9M'24 | % YoY | Mexico | 236 | 243 | (3.2 %) | 849 | 1,148 | (26.0 %) | Argentina | (40) | 16 | NA | (104) | 106 | NA | United States | 15 | (30) | NA | 21 | (99) | NA | Other | 74 | 18 | NA | 188 | 97 | 93.1 % | Products | 348 | 352 | (1.2 %) | 1,071 | 1,488 | (28.0 %) | Services | (63) | (105) | (39.6 %) | (117) | (235) | (50.1 %) | EBITDA Margin | Q3'25 | Q3'24 | % YoY | 9M'25 | 9M'24 | % YoY | Mexico | 15.3 % | 16.1 % | (80) bps | 17.8 % | 22.7 % | (490) bps | Argentina | (8.0 %) | 2.2 % | NA | (6.9 %) | 6.1 % | NA | United States | 5.5 % | (10.2 %) | NA | 2.4 % | (12.7 %) | NA | Other | 20.0 % | 6.0 % | NA | 16.9 % | 10.4 % | 650 bps | Products | 14.6 % | 13.3 % | 130 bps | 14.4 % | 19.0 % | (460) bps | Services | (22.4 %) | (55.5 %) | NA | (14.3 %) | (36.0 %) | NA |
Sales and EBITDA breakdown by geography
| Q3'25 | 9M25 |
| Sales | EBITDA | Sales | EBITDA | Mexico | 58 % | 83 % | 58 % | 89 % | Argentina | 19 % | (14 %) | 18 % | (11 %) | United States | 10 % | 5 % | 10 % | 2 % | Others | 14 % | 26 % | 13 % | 20 % | Total | 100 % | 100 % | 100 % | 100 % |
Mexico - Sales in Mexico increased by 1.5% during the quarter and decreased by 5.2% on a cumulative basis, a resilient result considering the market headwinds faced. During the quarter, the products segment was affected by heavy rains and a slowdown in new housing construction, while the solid performance of the services business helped to counter these challenges. On a cumulative basis, the 2024 drought drove exceptionally high sales levels, leaving a high comparison base.
- EBITDA was impacted by lower product sales volumes, which affected cost absorption. However, strict expense control and operational efficiencies helped to partially offset this effect.
Argentina - Sales decreased by 31.8% during the quarter and 13.1% on a cumulative basis, a direct reflection of a market with low demand. This challenging environment, combined with heightened competition, continued to put pressure on pricing and gross margins across all product categories.
- The loss of scale from lower volumes impacted costs and SG&A efficiency, resulting in a negative EBITDA. However, the structural improvements achieved have created a more efficient operation. These gains position the company to leverage profitability as soon as a topline recovery materializes.
United States - Sales decreased 8.5% during the third quarter and increased 10.9% on a cumulative basis. The quarterly decline was due to customer and vendor delays that prevented the delivery of part of the backlog. Favorable conditions such as drought in the western U.S., data center construction, and municipal water investments continued to support demand, offsetting softness in the residential and agricultural segments.
- EBITDA was positive for the second consecutive quarter, driven by a gross margin expansion and SG&A productivity, mainly resulting from supply chain efficiency initiatives and streamlined branch operations.
Other Countries
(Peru, Central America, and Brazil) - Sales increased 21.5% in the quarter and by 19.0% in the first nine months of the year, driven by solid growth in all countries:
In Peru, growth was driven by the water flow and improvement categories, supported by commercial initiatives aimed at strengthening the Company's presence at points of sale. In Central America, growth was supported by higher sales volumes and the ongoing regional expansion strategy, which contributed to sustaining both growth and profitability in the region. In Brazil, sales of water and effluent treatment plants continued to expand, supported by strong commercial traction. - EBITDA performance improved across all countries, driven by strong sales volumes and expense efficiency.
Products - Sales contracted due to lower volumes in Argentina and heavy rains in Mexico, partially offset by growth in other geographies such as Peru and Central America.
- EBITDA decreased mainly due to top-line performance in Argentina and Mexico, which limited the absorption of fixed costs, although greater expense efficiency was achieved during the period.
Services - Sales continued growing at a double-digit rate, primarily driven by the performance of bebbia, which surpassed 159,000 active subscribers.
- EBITDA, while still negative due to growth investments, improved, supported by efficiency gains in RSA and the positive performance trend of bebbia.
Other Indicators January - September
(Figures in millions of Mexican pesos) Indicators | 9M'25 | 9M'24 | % YoY | Cash and cash equivalents | 802 | 616 | 30.3 % | Short Term Financial Debt[5] | 592 | 415 | 42.7 % | Long Term Financial Debt[6] | 3,999 | 3,999 | 0.0 % | Total Financial Debt | 4,591 | 4,414 | 4.0 % | Net Financial Debt | 3,789 | 3,798 | (0.2 %) | CapEx | 353 | 382 | (7.4 %) | Mexico | 305 | 350 | (12.8 %) | Argentina | 14 | 28 | (49.7 %) | United States | - | - | NA | Other | 34 | 4 | NA | Change in Working Capital (cash flow) | 127 | (529) | NA | CCC (days) | 43 | 49 | (6 days) | Net Financial Result | (625) | (439) | 42.2 % |
CapEx - Capital investments represented 4.3% of sales for the first nine months of the year.
- In line with financial priorities focused on strengthening cash flow, maintenance CapEx remained at low levels, with most of the total investment allocated to services.
Net Financial Result - The net financial result for the third quarter recorded an expense of $354 million, compared to $189 million in Q3'24. The 2025 expense includes $142 million for interest, commissions, and leases, and a $212 million impact from exchange rate effects and inflation in Argentina.
- The cumulative net financial result recorded an expense of $625 million, compared to $439 million in 2024. The 2025 expense includes $420 million for interest, commissions, and leases, and a $205 million impact from exchange rate effects and inflation in Argentina.
Derivative Financial Instruments - As of September 30th, 2025, the market value of Grupo Rotoplas' position was:
|
| Market Value | Instrument | MXN/USD exchange rate forward | ($30.4) million |
Sustainability Strategy Milestones - Water-Responsible Company – Mexico
Rotoplas was recognized by the National Water Commission (CONAGUA) as the first Water-Responsible Company in Mexico, reaffirming its leadership and commitment to promoting efficient and sustainable water management nationwide.
- HSBC ELIS Award – Mexico
Rotoplas received the 2025 Sustainable Innovation Leadership Award (ELIS) from HSBC and EY in the Environmental category, completing its recognition across all ESG dimensions —Environmental, Social, and Governance— and reinforcing its position as a comprehensive sustainability benchmark.
- Water-Responsible Company (Empresa Hídricamente Responsable) – Peru
For the second consecutive year, Rotoplas Peru received the Water-Responsible Company distinction, highlighting its ongoing efforts to strengthen water stewardship and contribute to national sustainability goals.
- Agua en Debate (Debating Water) – Argentina
For the fifth consecutive year, Rotoplas Argentina participated in the Agua en Debate event. In this edition, 13 Rotoplas team members served as judges, evaluating projects from 30 schools and more than 150 students.
Analyst Coverage Institution | Analyst | Recommendation | Target Price (MXN) | BTG Pactual | Gordon Lee | Neutral | $24.80 | GBM | Regina Carrillo | Outperform | $44.00 | SIGNUM Research | Alejandro de la Rosa | Buy | $28.26 |
| Consensus | $32.35 |
Investor Conference Call Invite Thursday, October 23, 2025, at 10:00am Mexico City time (12:00pm EST)
Speakers: Carlos Rojas (CEO), Andrés Pliego (CFO)
Registration: https://rotoplas.zoom.us/webinar/register/WN_6_MDIQwXRVC49wL8rVDlsg#/registration Financial Statements
Income Statement
(Unaudited figures in millions of Mexican pesos)
| Q3 |
| 9M |
|
| 2025 | 2024 | %Δ | 2025 | 2024 | %Δ | Net Sales | 2,671 | 2,838 | (5.9 %) | 8,251 | 8,477 | (2.7 %) | Cost of Sales | 1,555 | 1,658 | (6.2 %) | 4,802 | 4,556 | 5.4 % | Gross Profit | 1,116 | 1,179 | (5.4 %) | 3,449 | 3,921 | (12.0 %) | % margin | 41.8 % | 41.6 % | 20 bps | 41.8 % | 46.3 % | (450) bps | Operation Expenses | 989 | 1,091 | (9.4 %) | 2,976 | 3,105 | (4.1 %) | Operating Income | 127 | 89 | 43.7 % | 473 | 817 | (42.1 %) | % margin | 4.8 % | 3.1 % | 170 bps | 5.7 % | 9.6 % | (390) bps | Net Financial Result | (354) | (189) | 87.5 % | (625) | (439) | 42.2 % | Financial Income | 15 | 44 | (65.2 %) | 48 | 89 | (46.0 %) | Financial Expenses | (369) | (232) | 58.8 % | (673) | (528) | 27.3 % | Income Before Taxes | (227) | (100) | NA | (153) | 377 | NA | Taxes | (29) | (27) | 6.4 % | (20) | 86 | NA | Net Income | (198) | (73) | NA | (133) | 291 | NA | % margin | (7.4 %) | (2.6 %) | (480) bps | (1.6 %) | 3.4 % | (500) bps | Adjusted EBITDA[7] | 285 | 247 | 15.0 % | 954 | 1,253 | (23.9 %) | % margin | 10.7 % | 8.7 % | 200 bps | 11.6 % | 14.8 % | (320) bps |
Balance Sheet
(Unaudited figures in millions of Mexican pesos)
| September |
|
| 2025 | 2024 | %Δ | Cash and Cash Equivalents | 802 | 616 | 30.3 % | Clients and Other Accounts Receivable | 1,588 | 1,792 | (11.4 %) | Inventory | 1,369 | 1,623 | (15.7 %) | Other Current Assets | 498 | 582 | (14.5 %) | Current Assets | 4,257 | 4,613 | (7.7 %) | Property, Plant and Equipment - Net | 3,839 | 4,234 | (9.3 %) | Other Long-term Assets | 5,765 | 5,529 | 4.3 % | Total Assets | 13,860 | 14,376 | (3.6 %) | Short-term Debt | 608 | 415 | 46.6 % | Suppliers and Other Accounts Payable | 968 | 1,036 | (6.5 %) | Other Current Liabilities | 1,065 | 1,125 | (5.3 %) | Short-term Liabilities | 2,642 | 2,576 | 2.6 % | Long-term Debt | 4,076 | 3,999 | 1.9 % | Other long-term Liabilities | 1,159 | 1,287 | (10.0 %) | Total Liabilities | 7,876 | 7,862 | 0.2 % | Total Stockholders' Equity | 5,985 | 6,514 | (8.1 %) | Total Liabilities + Stockholders' Equity | 13,860 | 14,376 | (3.6 %) |
Cash Flow
(Unaudited figures in millions of Mexican pesos)
| January - September |
|
| 2025 | 2024 | %Δ | EBIT | 473 | 817 | (42.1 %) | Depreciation and Amortization | 479 | 431 | 11.0 % | Inventory | 207 | (461) | NA | Accounts Receivable | 95 | (259) | NA | Accounts Payable | (174) | 191 | NA | Other Current Liabilities | 45 | 137 | (67.4 %) | Taxes | (104) | (123) | (15.3 %) | Operating Cash Flow | 1,020 | 733 | 39.1 % | CapEx | (353) | (382) | (7.4 %) | Other Investment Activities | 66 | (143) | NA | Investing Cash Flow | (288) | (524) | (45.1 %) | Dividends | (121) | (242) | (50.1 %) | Repurchase Fund | (13) | (7) | 83.6 % | Short and Long-term Debt | (178) | 295 | NA | Interest and Leases | (407) | (359) | 13.3 % | Financing Cash Flow | (718) | (313) | NA | Change in Cash | 13 | (105) | NA | Effect of exchange rate on cash | 57 | 155 | NA | Net Change in Cash | 70 | 50 | 40.2 % | Initial Cash Balance | 732 | 566 | 29.4 % | Final Cash Balance | 802 | 616 | 30.3 % |
Investor Relations Contact Disclaimer This document may contain forward-looking statements regarding the future performance of Grupo Rotoplas S.A.B. de C.V. These statements are based on current management expectations and information available at the time of publication. Actual results may differ materially due to various risks, uncertainties, and external factors beyond the Company's control. Grupo Rotoplas assumes no obligation to update or revise any forward-looking statements. About the Company Grupo Rotoplas S.A.B. de C.V. is America's leading provider of water solutions, including products and services for storing, piping, improving, treating, and recycling water. With over 40 years of experience in the industry and 18 plants throughout the Americas, Rotoplas is present in 14 countries and has a portfolio that includes 27 product lines, a services platform, and an e-commerce business. Grupo Rotoplas has been listed on the Mexican Stock Exchange (BMV) under the ticker "AGUA" since December 10th, 2014. Pedregal 24, 19th Floor, Molino del Rey
Miguel Hidalgo
Zip Code 11040, Mexico City
T. +52 (55) 5201 5000
www.rotoplas.com 1 In 2025, Adjusted EBITDA for the quarter includes $0.1 million in donations, and $2.2 million on a cumulative basis. By comparison, in 2024, $4.0 million were considered in the quarter and $5.0 million on a cumulative basis for the same period.
2 The LTM NOPAT and 2025 EBITDA calculation does not include the post-closing 2024 adjustment related to Argentina's results. Considering this adjustment, ROIC based on audited figures would be 3.4% and leverage (Net Financial Debt / EBITDA) would stand at 3.7x.
3 Excluding leases.
4 The LTM EBITDA calculation does not include the post-closing 2024 adjustment related to Argentina's results. Considering this adjustment, leverage (Net Financial Debt / EBITDA) would stand at 3.7x
5 Excluding leases. It includes $101 million in interest payable in 2025 and $100 million in 2024.
6 Excluding leases.
7 In 2025, Adjusted EBITDA for the quarter includes $0.1 million in donations, and $2.2 million on a cumulative basis. By comparison, in 2024, $4.0 million were considered in the quarter and $5.0 million on a cumulative basis for the same period.  View original content:https://www.prnewswire.com/news-releases/rotoplas-third-quarter-2025-results-302591796.html
SOURCE Grupo Rotoplas S.A.B. de C.V. | |
