Unifin Financiera, S.A.B. de C.V., SOFOM, E.N.R. Announces Earnings Results for the Second Quarter of 2018
July 19, 2018 at 09:31 pm
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UNIFIN Financiera S.A.B. de C.V. SOFOM, E.N.R. announced earnings results for the second quarter of 2018. Total Revenue increased 21.5% in the second quarter to MXN 4.5 billion compared to MXN 3.7 million in the second quarter of last year. This encompasses a 26.2% operating lease income growth versus last year. And interest income reached MXN 567 million while other lease benefits were MXN 399 million in the second quarter, a 30% increase. Operating income reached MXN 499 million, which represented a 5% decrease compared to the second quarter of last year. Return on average assets for second quarter was at 3.4%, while return on average equity slightly dropped to 21%. The decrease of the return on equity is due to the capital enhancements made by the company at the beginning of the year for MXN 4.5 billion. OPEX as a percentage of total revenues improved to 6.3% against 6.7% at the close of second quarter of 2017. Net income reached MXN 406 million.
Unifin Financiera SAB de CV SOFOM ENR is a Mexico-based company engaged in the financial industry. The Company operates though three business segments. The Operating Lease segment is responsible for operating leases for construction and industrial equipment, machinery, various types of transportations vehicles, including cars, trucks, helicopters, airplanes and other vessels, and other capital assets. The Financial Factoring segment provides liquidity and financing solutions to its customers by purchasing or discounting their accounts receivable and by providing vendor financing. The Auto Loans and Other Loans segment is focused on financing the acquisition of new and used vehicles. The Company provides its services to small and medium sized companies, as well as individuals.
UNIFIN FINANCIERA, S. A. B. DE C. V. 
