Vinte Viviendas Integrales Expands Geographic Reach with Derex Acquisition While Reporting Strong Q3 Growth

Vinte Viviendas Integrales (BMV: VINTE) has significantly expanded its geographic footprint with the acquisition of Derex, a leading developer of sustainable housing communities in northwestern Mexico. This strategic transaction enables VINTE to enter high-growth markets including Tijuana, Hermosillo, Nogales, and Mexicali, marking a pivotal expansion for the company's nationwide housing leadership ambitions. Derex brings a 26-year track record with over 23,000 homes delivered and currently operates four active developments with an average home price of MXN 870,000.

The company's third quarter 2025 results demonstrate robust financial performance, with total revenue reaching MXN 4.12 billion, representing a 17.5% year-over-year increase on a pro forma basis that includes Javer. Average selling price increased 15.5% to MXN 1.03 million, while EBITDA grew 22.3% year-over-year to MXN 773.9 million, achieving an 18.8% margin. Net income showed particularly strong growth, rising 28.3% year-over-year as management highlighted continued synergy capture from the Javer integration and positive operating cash generation of approximately MXN 207 million in the third quarter.

VINTE's operational metrics remain solid, with 3,967 homes titled in the third quarter, representing a 4.5% increase on a pro forma basis. The company's mortgage funding sources remained stable through the first nine months of 2025, with Infonavit continuing as the largest channel and Unamos Créditos serving as a meaningful contributor alongside banks and Fovissste. This diversified financing mix provides flexibility across markets and segments, supporting the company's geographic and price-point diversification strategy.

The company maintains its leadership position in Mexico's green-certified housing sector, with over 23,112 EDGE certified homes, 25.2% of which are EDGE Advanced certified. This represents significant growth from 20,723 EDGE certified homes at the end of 2024, when 21.3% were EDGE Advanced certified. The EDGE certification demonstrates enhanced home efficiency, translating into lower utility bills for homeowners and providing VINTE with access to green bond financing. The company has issued eight labeled bonds totaling MXN 6.4 billion, creating a capital structure that supports access to cheaper ESG capital.

Management expects these ESG metrics to improve further by year-end as the company certifies additional home batches. The recent acquisitions present substantial opportunity for certification expansion, as historically neither Javer nor Derex certified their homes. This creates significant whitespace in VINTE's portfolio that can be certified with relative ease, potentially further improving capital costs and enhancing the value of these transactions.

Looking forward, management reiterated its 2025 guidance of 15,000 home deliveries including Javer, with continued emphasis on digital platforms such as Xante, iVentas, and Emobel to drive efficiency and improve customer experience. The company continues to gain market share in the affordable and middle-income segments and appears well-positioned to benefit from structural housing undersupply, rising household formation, and increasing ESG capital inflows. The combination of strategic acquisitions, strong financial performance, and ESG leadership positions VINTE for sustained growth in Mexico's evolving housing market.