Rotoplas: Third Quarter 2026 Results
Key Highlights
- ➤Q3'26 net sales $2,927 million, up 9.6% year over year
- ➤Adjusted EBITDA $385 million, up 35.4%, with 13.2% margin
- ➤Operating income reached $192 million, up 50.7% year over year
- ➤Net loss narrowed to $2 million from $198 million
- ➤Net Debt / EBITDA improved to 2.2x from 3.2x
Expert Statements
Carlos Rojas Aboumrad, Chief Executive Officer of Grupo Rotoplas
“During the third quarter, the improvement in our results continued, with stronger growth in both sales and EBITDA in an environment that remains challenging. Sales grew 9.6% and EBITDA 35.4%, with a 13.2% margin, 250 basis points above Q3'25. These results reflect disciplined execution amid pressure from resin costs and weak demand in some of our markets. Our diversification across geographies, businesses and solutions continues to contribute. In Mexico, sales grew 4.8% and the EBITDA margin expanded 250 basis points to 17.8%. In Argentina, operational stabilization continued despite very low demand. The United States grew double digits and posted its sixth consecutive quarter of positive EBITDA, and Peru, Central America and Brazil delivered double-digit growth. Together, the United States and Other Countries now represent 27% of total sales, compared to 24% in Q3'25. New strategic solutions reached close to 8% of Group sales, and services grew 10.3%, driven by bebbia, which added more than 14,000 net new active subscribers, its highest quarterly figure to date. We maintained financial discipline. Net Debt / EBITDA closed at 2.2x, compared to 3.2x in Q3'25, reflecting higher EBITDA, lower net financial debt and a stronger cash position. In the first nine months, operating cash flow grew 16.8% and CapEx was 10.3% lower than in 2025. Reducing leverage remains a priority, and cash generation will remain at the center of our decisions. Our purpose is to bring more and better water to people, and innovation has always been the driving force that makes this possible. Guided by this purpose, we will continue to innovate, strengthen our leadership, and create sustainable long-term value for all our stakeholders.”
Gordon Lee, Analyst at BTG Pactual
“Neutral; Target Price (MXN): $15.30”
Regina Carrillo, Analyst at GBM
“Outperform; Target Price (MXN): $39.00”
Pablo Quiroz, Analyst at Punto Research
“Hold; Target Price (MXN): $14.40”
MEXICO CITY, Oct. 21, 2026 /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 third quarter of 2026. The information has been prepared in accordance with International Financial Reporting Standards (IFRS).
* Net sales were $2.9 billion, a 9.6% increase compared to Q3'25. On a cumulative basis, net sales reached $8.6 billion, a 4.6% increase compared to 2025. * EBITDA was $385 million, a 35.4% increase compared to Q3'25, with a 13.2% margin. The cumulative EBITDA was $1.1 billion, an 18.1% increase year-over-year, with a cumulative margin of 13.1%. * Operating income was $192 million, an increase of 50.7% compared to Q3'25. On a cumulative basis, operating income reached $569 million, a 20.3% increase compared to 2025. * Net result posted a $2 million loss in Q3'26, an improvement from the $198 million loss in Q3'25, mainly due to higher operating income and a lower net financing cost. In the first nine months of the year, net result posted a loss of $91 million. * Services sales increased 10.3% during the quarter and 9.3% in the first nine months of the year, primarily driven by bebbia, while product sales increased 9.5% during the quarter and 4.1% in the first nine months of the year. * bebbia surpassed 208,000 active subscribers at the end of the quarter. Message from the CEO | Carlos Rojas Aboumrad
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