Logistics and technology consolidates as the main division of Traxión

T21 Media — Tue, 23 Jul 2024 17:52:56 +0000

Grupo Traxión (No. 4 del Top 100 del Autotransporte®) announced the results corresponding to the second quarter of 2024 (2Q24), as well as the consolidated results for the first half of 2024 (1H24), where it maintains double-digit progress in both periods.

In its document sent to investors and the Mexican Stock Exchange (BMV), it reported revenues of seven thousand 369 million pesos (mdp) in 2Q24, a growth of 23.2% compared to the same cycle in 2023. In the accumulated to 1H24, it entered 14 1,030 million pesos, an increase of 19.5% compared to the first half of 2023.

Based on Traxión’s report, the Logistics and Technology division was already consolidated as the main business unit of the holding company , adding revenues of 2,711 mpd in 1Q24 , which represented a 36.8% share of total revenues.

Meanwhile, the Passenger Mobility division recorded revenues of 2,626 million pesos in the quarter, to contribute 35.6% of the total generated by Traxión, for the first time behind Logistics and technology.

The Cargo Mobility division remained in third place in revenue generation, adding 2,032 million pesos during 2Q24.

In 2Q24, the Logistics and technology unit remained the one with the highest growth, registering a variation of 40.5% compared to the same cycle in 2023, People Mobility advanced 20.1% in the same comparative cycle, while Freight Mobility registered a increase of 9.0%, the smallest of the divisions.

The growth of the Logistics and technology segment is in line with Traxión’s expansion plans, the company reported. “The above is mainly due to the growth in revenue from TRAXPORTA, our broker and digital marketplace , as well as 3PL warehouse services,” the report cited.

Adjustment in CapEx

In the message sent to investors by Aby Lijtszain, co-founder and executive president, it was reported that the decision was made to reduce CapEx by 2024 by 600 million pesos. “This will result in a CapEx figure lower than that announced in February, and which will be around 3,600 million pesos, instead of 4,200 million pesos originally budgeted. It is important to mention that we do not expect changes in our growth objectives derived from this modification,” he said.

According to the guide for 2024 presented by Traxión, the growth perspective will be around 19%, while EBITDA will be around 18.3 percent.

“Traxión has been growing rapidly for more than three years. When companies expand in this way, they do not do so within an optimal operating framework, due to the strong demand for all types of resources necessary for such growth. As a result of the above, we have taken on the task of finding efficiencies and improvements to bring the company to its optimal operational level,” Lijtszain expressed in his message to investors.

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Logistics and technology consolidates as the main division of Traxión

Adjustment in CapEx