Rotoplas: Second Quarter 2025 Results
MEXICO CITY, July 23, 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 second 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 Q2'25
Net sales were $2.9 billion, a 0.9% decrease compared to Q2'24. On a cumulative basis, net sales reached $5.6 billion, a 1.0% decrease compared to 2024.
EBITDA of $369 million, with a 12.5% margin. The cumulative EBITDA was $669 million, with a cumulative margin of 12.0%.
Net income was $42 million, with a 1.4% margin. In the first half of the year, net income was $65 million, with a margin of 1.2%.
Service sales increased by 16.7% during the quarter and by 15.8% in the first half of the year, primarily driven by bebbia.
bebbia exceeded 155,000 active subscribers at the end of June.
Message from the CEO
"We started the second quarter aware of the challenging comparative base we would face due to the 2024 drought in Mexico. Even so, we delivered stable results: sales were nearly in line with the previous year, reflecting solid performance across our operations, particularly outside Mexico. Notably, the United States stood out, where we achieved profitable growth, undoubtedly marking an important step forward for the Company.
In the services segment, sustained growth and EBITDA margin improvement stood out, confirming our progress toward a more balanced and resilient business model.
We remain focused on improving the factors within our control, such as disciplined expense management and protecting cash flow. In this regard, we succeeded in reducing expenses as a percentage of sales, optimizing working capital, and maintaining a selective approach to CapEx allocation. These efforts are reflected in sequential improvement in EBITDA margin and a reduction in net debt compared to the previous quarter.
We continue advancing in digitalization, with our e-commerce channel in Mexico meeting expectations and the expansion of IoT solutions. We closed the quarter with sequential operational improvement and a stronger financial position."
— Carlos Rojas Aboumrad
Results January, June(Figures in millions of Mexican pesos)
Indicator
Q2'25
Q2'24
%YoY
6M'25
6M'24
%YoY
Net Sales
2,945
2,972
(0.9 %)
5,580
5,639
(1.0 %)
Adjusted EBITDA1
369
450
(18.1 %)
669
1,005
(33.4 %)
% margin
12.5 %
15.1 %
(260) bps
12.0 %
17.8 %
(580) bps
Net Result
42
60
(30.9 %)
65
364
(82.1 %)
ROIC2
5.2 %
12.7 %
(750) bps
Net Financial Debt3
3,753
3,667
2.3 %
Net Financial Debt / EBITDA2
3.2 x
1.8 x
1.4 x
Q2'25 vs Q2'24 Results
Net Sales reached $2,945 million, 0.9% below Q2'24, driven by a 2.5% decline in the product segment, which, despite solid growth in the United States and other countries, was not enough to offset the contraction recorded in Mexico, which faced a high comparative base due to the 2024 drought in the central region of the country. In contrast, the services segment grew 16.7%, driven by the strong performance of bebbia and the growth of RSA Mexico.
Gross profit was $1,217 million. Gross margin closed at 41.3%, contracting by 550 bps due to lower product sales in Mexico and Argentina, which affected the absorption of fixed costs.
Operating income reached $207 million, down 32.6% compared to Q2'24. The decline was mainly due to a weaker gross margin, which more disciplined expense control could not fully offset—even though expenses remained lower as a percentage of sales. However, operating income showed a positive sequential trend, increasing 49.1% compared to the previous quarter.
EBITDA closed at $369 million, and the EBITDA margin stood at 12.5%. Despite the year-over-year decrease, sequential improvement was observed compared to previous quarters, mainly reflecting expense control.
Net income was $42 million, 30.9% below the previous year, driven by lower operating income.
Cumulative Results 2025 vs 2024
Net sales reached $5,580 million, a 1.0% decrease, driven by a 2.6% decline in the product segment, partially offset by 15.8% growth in the services segment.
Gross profit was $2,333 million, a 14.9% decrease. Gross margin closed at 41.8%, contracting by 680 bps mainly due to lower absorption of fixed costs in Mexico and Argentina.
Operating income reached $346 million, a 52.5% decrease compared to 2024. This decline was the result of gross margin pressure, as the Company achieved a slight reduction in expenses as a percentage of sales.
EBITDA closed at $669 million, with an EBITDA margin of 12.0%. While this represents a decrease compared to the same period last year, it shows an improvement over the previous semester.
Net income was $65 million, an 82.1% decrease. This decline was driven by lower operating income and a slight increase in financial expenses.
Net Financial debt / EBITDA4 leverage closed at 3.2x, resulting from the decline in LTM EBITDA.
CapEx for the period amounted to $211 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 - June(Figures in millions of Mexican pesos)
Sales
Q2'25
Q2'24
% YoY
6M'25
6M'24
% YoY
Mexico
1,711
1,831
(6.5 %)
3,248
3,533
(8.1 %)
Argentina
550
554
(0.7 %)
1,001
996
0.5 %
United States
315
261
20.6 %
595
485
22.6 %
Other
369
326
13.0 %
737
625
17.8 %
Products
2,661
2,729
(2.5 %)
5,041
5,174
(2.6 %)
Services
284
243
16.7 %
539
466
15.8 %
EBITDA
Q2'25
Q2'24
% YoY
6M'25
6M'24
% YoY
Mexico
327
433
(24.5 %)
614
905
(32.1 %)
Argentina
(43)
17
NM
(64)
90
NM
United States
26
(31)
NM
6
(69)
NM
Other
58
30
93.1 %
113
79
43.7 %
Products
409
528
(22.5 %)
723
1,136
(36.3 %)
Services
(41)
(78)
(48.0 %)
(54)
131
(58.5 %)
EBITDA Margin
Q2'25
Q2'24
% YoY
6M'25
6M'24
% YoY
Mexico
19.1 %
23.7 %
(460) bps
18.9 %
25.6 %
(670) bps
Argentina
(7.8 %)
3.1 %
NM
(6.4 %)
9.0 %
NM
United States
8.1 %
(11.9 %)
NM
1.0 %
(14.2 %)
NM
Other
