Alsea SAB de CV

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Top-line growth was supported by a still-resilient consumer. Europe surprised with higher profitability pressures. Alsea’s profitability drops due to Europe’s margin contraction of 10.6pp, while México and South America improved. Incorporating quarte...

Alsea announced that, jointly with Bain Capital Credit, it will acquire a 21.1% stake in Food Service Project, its subsidiary in Europe. This transaction represents a total of $110.8 million euros (~US$128.6 million), with Alsea paying 50% for $55.4 ...

A report that should be well received by the market, highlighting the profitability progress. This is the result of an increase in consolidated SSS of 67.1% y/y (~90% of 2Q19 SSS) with Mexico growing 86.0% y/y, as a consequence of the reduction of so...

Alsea's report was weak, with the impact of the sanitary measures being greater than expected. We believe the hardest times are behind us. Revenues declined 15.6% y/y to MXN 10.212 billion, as a result of a 13.3% y/y decline in consolidated SSS (Mexi...

Alsea informed that it successfully negotiated with all its relationship banks an extension to the suspension granted for the calculation of certain covenants in its credit contracts, mainly in relation to gross leverage and interest coverage ratios....

Despite new lockdown measures, Alsea sales grew 14.2% q/q. Regardless of confinement measures reinstated in all regions, Alsea’s figures continued posting an important sequential recovery. That said, EBITDA fell only by 3.4% y/y to MXN 3.225 billion,...