UNIFIN reports 21.2% increase in Total Revenue, reaching Ps. 5,120 million in 4Q18; Total Portfolio rose 25.0% in 2018

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Jan 24, 2019, 16:42 ET

MEXICO CITY, Jan. 24, 2019 /PRNewswire/ --

UNIFIN Financiera S.A.B. de C.V. SOFOM, E.N.R. ("UNIFIN" or "the Company") (BMV: UNIFIN), announces its results for the fourth quarter ("4Q18") and full year 2018 ("2018") periods. Figures presented throughout this document are expressed in millions of Mexican pesos (Ps.). Financial information has been prepared in accordance with the accounting criteria of the Mexican National Banking and Securities Commission ("CNBV") and filed with the Mexican Stock Exchange ("BMV").

4Q18 and Full Year 2018 Highlights

Total Revenue grew 21.2% to Ps. 5,120 million in 4Q18. In 2018 total revenue increased 32.3% to Ps. 18,944 million.
Leasing yield improved to 38.0%.
Nominal financial margin increased by 14.7% to Ps. 1,037 million. In 2018 nominal financial margin increased 19.6% to Ps. 3,805 million. Financial margin improved to 20.3% vs. 3Q18.
Opex was 6.1% of revenues in 4Q18, an improvement of 150 bps compared to 4Q17.
Net income reached Ps. 502 million in 4Q18. In 2018 net income rose 8.6% to Ps. 1,924 million.
As of December 31, 2018, total loan portfolio reached Ps. 52,070 million, up 25.0% y-o-y.
NPL ratio remained below 1.0% of the total loan portfolio. The coverage for loan losses was 109.7%.
Net fixed assets and total assets increased by 24.3% and 24.1% respectively, at the end of 4Q18.
84.6% of our total debt is on fixed rate.
During 4Q18, the Company continued with its share repurchase program acquiring 7.0 million shares in the period.