Investor Presentaiton
Reasonable revenues, albeit with an increase in spending
Revenues vs GEPC estimated figures
2024
2023
2022
2021
$ billons
8,000
Spending ($ billion)
9,022.0 8,257.6 7,048.2 6,257.1
Estimated
Observed
Social programs
8.2
7.3
6.4
5.4
6,000
Pensions for the elderly
5.2
4.1
3.4
2.2
4,000
2,000
0
2019
Scholarships program
1.0
1.0
1.2
1.2
Sowing life (reforestation)
0.4
0.4
0.4
0.5
Others
1.7
1.7
1.4
1.6
2020
2021
2022
2023
Priority projects
2.5
2.9
1.8
1.6
2024
Financial cost
14.0
13.1
11.2
11.6
Revenues composition
% of total revenues, 12 month moving average
Transfers to states
28.4
29.5
29.9
29.8
100%
80%
60%
40%
20%
Others
Additional items
0%
PEMEX (DUC)
35.0
40.0
40.0
54.0
1990
1994 1998 2002 2006 2010 2014 2018 2022
Oil ■Tax collection Non-tax revenues
PEMEX (capital contributions) 145.0
70.0*
188.3
316.4
Participations
14.1
14.8
14.5
14.7
Contributions
11.8
12.1
12.6
13.4
2.5
2.6
2.8
1.8
Notes: Up to 2Q23
Source: Banorte with data from MoF
82
Div
DB
Rev
Dep
TI
LD
Loan
BAP
Guid
ESG
GRUPO FINANCIERO
Eco
NIM
NI
ROE
ICAP
Mkt
BANORTE
App
Hist
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