Jul 23, 2024 / 03:00PM GMT
Operator
Good day and welcome to the Traxion Second Quarter 2024 earnings call. (Operator Instructions)
I would now like to turn the call over to your host, Aby Lijtszain, the floor is yours.
Aby Lijtszain Chernizky - Grupo Traxion SAB de CV - Executive President, Vice Chairman of the Board, Proprietary Director
Good morning, everyone. This period Traxion posted again record high figures of revenue and EBITDA. Both of the highest in the company's history and were driven by strong demand related mainly to nearshoring. We continued to grow with revenues up more than 23% in line with our expectations.
Most important is that net income almost doubled to reach MXN222 million this period, which is more than 98% growth compared to the same quarter of last year. The company has been expanding at high rates, but the timing between the CapEx and actual revenue creates a lag.
The reason is simple. First, we need to invest resources and incur in pre-operating costs and expenses to have new operations up and running. Then we have to wait for some time for
Q2 2024 Grupo Traxion SAB de CV Earnings Call Transcript
Jul 23, 2024
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