Financial risk management (Tables)
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12 Months Ended |
Dec. 31, 2025 |
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| Financial risk management |
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| Schedule of principal categories of financial instruments |
| | | | | | | | | | | | | | | | December 31, | Financial assets | | Risk classification | | 2025 | | 2024 | | 2023 | Cash and cash equivalents and other investments held to maturity | | Credit and interest rate | | Ps. | 3,098,092 | | Ps. | 1,656,365 | | Ps. | 2,576,256 | Receivables, net | | Credit and exchange rate | | | 2,010,527 | | | 1,845,965 | | | 1,298,399 |
| | | | | | | | | | | | | | | | December 31, | Financial liabilities | | Risk classification | | 2025 | | 2024 | | 2023 | Short-term and long-term debt | | Interest rate, exchange rate and liquidity | | Ps. | 13,428,359 | | Ps. | 11,281,880 | | Ps. | 10,676,708 | Trade accounts payable(1) | | Liquidity | | Ps. | 789,194 | | Ps. | 610,375 | | Ps. | 385,503 | Accrued interest | | Liquidity | | Ps. | 214,167 | | Ps. | 239,753 | | Ps. | 204,843 | Short-term and long-term lease liabilities | | Liquidity | | Ps. | 158,621 | | Ps. | 178,990 | | Ps. | 198,844 | Short-term and long-term accounts payable to related parties | | Liquidity | | Ps. | 639,521 | | Ps. | 570,576 | | Ps. | 452,933 |
| (1) | Include the payments of employee statutory profit-sharing amounts, which were Ps. 85,388, Ps. 79,574 and Ps. 66,347 as of December 31, 2025, 2024 and 2023, respectively. |
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| Schedule of long-term debt at fixed and variable interest rates |
| | | | | | | | | | | | | | | December 31, | | | | 2025 | | | 2024 | | | 2023 | | Long-term debt | | Ps. | 13,450,000 | | | Ps. | 10,700,000 | | | Ps. | 10,700,000 | | % Fixed rate debt | | | 69.1 | % | | | 68.8 | % | | | 68.8 | % | % Variable rate debt (1) | | | 30.9 | % | | | 31.2 | % | | | 31.2 | % |
(1) | Long-term debt contracted during 2025, 2024 and 2023 has a 28-day TIIE reference rate. |
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| Schedule of carrying values of monetary assets and liabilities denominated in foreign currencies |
The carrying values of monetary assets and liabilities denominated in foreign currencies at the end of the reporting period are as follows (amounts in thousands): | | | | | | | | | | | | | | | | | | | | | Liabilities | | Assets | | | December 31, | | December 31, | Currency | | 2025 | | 2024 | | 2023 | | 2025 | | 2024 | | 2023 | U.S. dollars | | U.S.$ | (8,141) | | U.S.$ | (5,186) | | U.S.$ | (3,832) | | U.S.$ | 21,107 | | U.S.$ | 23,379 | | U.S.$ | 19,835 |
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| Schedule of transactions in U.S. dollars |
| | | | | | | | | | | | December 31, | | | 2025 | | 2024 | | 2023 | Revenues | | U.S.$ | 19,681 | | U.S.$ | 14,733 | | U.S.$ | 9,745 | Expenses | | | | | | | | | | Technical assistance | | U.S.$ | 5,300 | | U.S.$ | 4,807 | | U.S.$ | 4,010 | Insurance | | | 1,789 | | | 6,873 | | | 118 | Purchase of machinery and maintenance | | | 24,198 | | | 25,707 | | | 22,717 | Software | | | 2,823 | | | 3,545 | | | 2,181 | Professional services, fees and subscriptions | | | 1,081 | | | 2,137 | | | 4,353 | Other | | | 2,361 | | | 11,747 | | | 61,636 |
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| Schedule of pertinent exchange rate information |
| | | | | | | | | | | | December 31, | | | 2025 | | 2024 | | 2023 | U.S. dollar exchange rate | | | | | | | | | | As reported by the Mexican Central Bank | | Ps. | 18.0012 | | Ps. | 20.7862 | | Ps. | 16.9190 |
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| Schedule of remaining contractual maturities of financial liabilities with agreed repayment periods |
| | | | | | | | | | | | | | | | | | | | | | | | | | As of December 31, 2025 | | 2026 | | 2027-2028 | | 2029-2032 | | Total | Long-term debt | | Ps. | 1,640,000 | | Ps. | 5,020,000 | | Ps. | 6,790,000 | | Ps. | 13,450,000 | Interest(1) | | | 1,119,459 | | | 1,763,492 | | | 1,145,009 | | | 4,027,960 | Trade accounts payable | | | 789,194 | | | — | | | — | | | 789,194 | Interest Payable | | | 214,167 | | | — | | | — | | | 214,167 | Lease Liabilities(2) | | | 49,113 | | | 109,508 | | | — | | | 158,621 | Accounts payable with related parties | | | 465,571 | | | 173,950 | | | — | | | 639,521 | Total | | Ps. | 4,277,504 | | Ps. | 7,066,950 | | Ps. | 7,935,009 | | Ps. | 19,279,463 |
| | | | | | | | | | | | | | | | | | | | | | | | | | As of December 31, 2024 | | 2025 | | 2026-2028 | | 2029-2031 | | Total | Long-term debt | | Ps. | — | | Ps. | 3,340,000 | | Ps. | 7,360,000 | | Ps. | 10,700,000 | Interest(1) | | | 1,040,226 | | | 1,641,749 | | | 1,089,058 | | | 3,771,033 | Short-term debt | | | 600,000 | | | — | | | — | | | 600,000 | Trade accounts payable | | | 610,375 | | | — | | | — | | | 610,375 | Interest Payable | | | 239,753 | | | — | | | — | | | 239,753 | Lease Liabilities(2) | | | 19,022 | | | 159,968 | | | — | | | 178,990 | Accounts payable with related parties | | | 350,076 | | | 220,500 | | | — | | | 570,576 | Total | | Ps. | 2,859,452 | | Ps. | 5,362,217 | | Ps. | 8,449,058 | | Ps. | 16,670,727 |
| | | | | | | | | | | | | | | | | | | | | | | | | | As of December 31, 2023 | | 2024 | | 2025-2027 | | 2028-2030 | | Total | Long-term debt | | Ps. | — | | Ps. | 3,340,000 | | Ps. | 7,360,000 | | Ps. | 10,700,000 | Interest(1) | | | 1,050,856 | | | 2,577,708 | | | 1,089,058 | | | 4,717,622 | Trade accounts payable | | | 385,503 | | | — | | | — | | | 385,503 | Interest Payable | | | 204,843 | | | — | | | — | | | 204,843 | Lease Liabilities(2) | | | 44,928 | | | 153,916 | | | — | | | 198,844 | Accounts payable with related parties | | | 452,933 | | | — | | | — | | | 452,933 | Total | | Ps. | 2,139,063 | | Ps. | 6,071,624 | | Ps. | 8,449,058 | | Ps. | 16,659,745 |
| (1) | The projected interest is determined, in the case of obligations with a variable rate, based on TIIE. |
| (2) | The time value of money effect of other financial liabilities is immaterial, so they are presented at present value. |
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| Schedule of fair value and carrying value of long term debt |
| | | | | | | | | | | | | | | | | December 31, 2025 | | December 31, 2024 | | December 31, 2023 | Book value | | Fair value | | Book value | | Fair value | | Book value | | Fair value | Ps. | 13,450,000 | | Ps. | 13,507,634 | | Ps. | 10,700,000 | | Ps. | 10,294,490 | | Ps. | 10,700,000 | | Ps. | 10,405,840 |
| | | | | | | | | | | | | | | Hierarchy of fair value as of December 31, 2025 | | | Level 1 | | Level 2 | | Level 3 | | Total | Financial liabilities: | | | | | | | | | | | | | Long-term debt(1) | | Ps. | 13,507,634 | | Ps. | — | | Ps. | — | | Ps. | 13,507,634 |
| | | | | | | | | | | | | | | Hierarchy of fair value as of December 31, 2024 | | | Level 1 | | Level 2 | | Level 3 | | Total | Financial liabilities: | | | | | | | | | | | | | Long-term debt(1) | | Ps. | 10,294,490 | | Ps. | — | | Ps. | — | | Ps. | 10,294,490 |
| | | | | | | | | | | | | | | Hierarchy of fair value as of December 31, 2023 | | | Level 1 | | Level 2 | | Level 3 | | Total | Financial liabilities: | | | | | | | | | | | | | Long-term debt(1) | | Ps. | 10,405,840 | | Ps. | — | | Ps. | — | | Ps. | 10,405,840 |
| (1) | The fair value of the financial liabilities included in Level 1, corresponds to stock certificates listed on the Mexican Stock Exchange |
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