FAQ: Stonegate Capital Partners Coverage of Vinte Viviendas Integrales (VINTE)

What is the main purpose of Stonegate Capital Partners’ coverage of Vinte Viviendas Integrales?

Stonegate Capital Partners has initiated equity research coverage on Vinte Viviendas Integrales (BMV: VINTE) to provide analysis of the company’s financial performance, strategic position, and valuation.

How did VINTE perform financially in the most recent reporting period?

VINTE reported total revenue of MXN 3.66B, up 211.3% year-over-year, driven by the Javer acquisition, with consolidated EBITDA reaching $647.6M, up 124.7% year-over-year, though down 16.4% on a pro forma basis.

What drove VINTE’s significant revenue growth?

The 211.3% year-over-year revenue growth was primarily driven by the Javer acquisition, which also contributed to home deliveries more than doubling with 3,715 homes titled in 2Q25, representing a 337.1% increase.

What is VINTE’s position in the ESG and green housing market?

VINTE remains Mexico’s leader in green-certified housing with over 23,112 EDGE certified homes, 25.2% of which are Edge Advanced, and has issued over MXN 2.5B in green bonds supported by IFC, IDB Invest, and DEG.

What are the benefits of VINTE’s EDGE certification program?

EDGE certification enhances energy, water, and material efficiency, translating into lower utility bills for homeowners and providing VINTE with access to green bond financing, while saving an estimated 26,519 tons of carbon annually.

What is VINTE’s outlook and guidance for 2025?

Management reiterated its 2025 guidance of 15,000 home deliveries (including Javer), with continued emphasis on digital platforms (Xante, iVentas, Emobel) to drive efficiency and improve customer experience.

What valuation ranges did Stonegate provide for VINTE?

Stonegate’s DCF analysis produced a valuation range of $46.89 to $69.39 with a mid-point of $56.37, while their EV/EBITDA valuation resulted in a range of $42.31 to $64.95 with a mid-point of $53.63.

How does VINTE’s mortgage financing work?

Infonavit remains the primary financing source at 48% of titled homes, with over 67% of mortgage volume funded through INFONAVIT and Unamos Créditos, VINTE’s two most critical government-backed lending channels.

What is Xante and how is it performing?

Xante is VINTE’s used housing proptech platform that grew revenues and EBITDA by 49% and 135% respectively, driven by convertible financing from IDB Invest of up to 500 million pesos to increase capacity.

Why is Stonegate Capital Partners qualified to provide this coverage?

Stonegate Capital Partners is a leading capital markets advisory firm providing investor relations, equity research, and institutional investor outreach services for public companies, with their affiliate Stonegate Capital Markets providing full investment banking services.