Cox, water and energy utility, has held its first general shareholders meeting as a quoted company, in which you are have approved with 100% of the votes the points of the agenda.
Thus, shareholders have approved a capital increase through the non -monetary contribution of Cox Energy to the matrix. This will articulate a exchange equation consisting in the delivery of an action of Cox ABG Group S.A. for every five actions of Cox Energy, S.A.B. de C.V. that are contributed in the exchange. The implementation of this process aims to increase the liquidity of the matrix and reinforce the capital structure.
Likewise, the General Board of Shareholders has supported the appointment of Dámaso Quintana, president of Cunext, as Sunday and Larry Coben, President and CEO of NRG Energy as an independent counselor.
Enrique Riquelme He addressed the shareholders to underline that «the challenge in 2025 is to continue evolving and laying the bases that guarantee recurrent and sustainable growth over the next few years.» In this sense, he influenced that the road map goes through “a regional approach to the company in America, Europe and the Middle East Region (AME), in which we have a significant presence, as well as execute our strategic investment plan and take advantage of the synergy that exists between water and energy; all maintaining a solid and sustainable capital structure in time”.
During the celebration of the General Shareholders MeetingEnrique Riquelme, presented the financial results corresponding to 2024, an exercise in which Cox obtained an Ebitda of 183 million euros (+77%), a net profit of 59 million (+62%) and income of 702 million (+21%). The net financial debt stood at 62 million euros (0.3x Ebitda adjusted), with a box of 268 million and an operating cash flow of 83 million. These results, as explained, consolidate the group strategy based on the generation of box and sustainable growth.