Letter to our Stockholders

For Grupo Lamosa, 2025 was a challenging year, marked by the persistence of factors that had begun to emerge in 2024 and that shaped a complex business environment.

These factors included a deep contraction in the construction industry, the imposition of new tariffs in the United States, rising energy prices affecting production and transportation costs, and intensified competition driven by global oversupply.

In a context of external pressures and reduced economic activity in certain markets where the company has operations, Grupo Lamosa’s diversification strategy proved to be a key factor for its resilience. Revenues increased 4% year-over-year, to $35,218 million pesos, while operating income and EBITDA totaled $3,958 million and $5,832 million, respectively, with margins of 11% and 17% of sales.

Revenue growth was primarily driven by foreign sales, particularly in Spain, as well as the recovery of diverse South American markets such as Colombia and Brazil. However, the construction industry in Mexico, the United States and much of the Americas continued its lackluster performance, adversely affected by high interest rates and other macroeconomic factors.

Despite the challenging environment, Grupo Lamosa maintained its commitment to investment, announcing the construction of a new high-productivity mega-plant in Tlaxcala, with an investment of $200 million dollars over five years. This project will modernize production lines, incorporate state-of-the-art technologies and strengthen the company’s long-term positioning.

Grupo Lamosa’s presence across nine countries has enabled it to focus on higher-potential regions, capitalize on synergies and increase innovation. In line with this vision, during the year, the company continued expanding its portfolio into complementary materials and solutions beyond ceramic tiles and adhesives, such as LVT (Luxury Vinyl Tiles), stuccos and lightweight insulating panels that optimize construction time and costs.

Grupo Lamosa reaffirms its commitment to the principles of the United Nations Global Compact, promoting social responsibility, anti-corruption practices and the protection of human and labor rights, while implementing sustainable practices for the benefit of the environment and the communities where it operates.

In this milestone year, marking 135 years in the construction industry, Grupo Lamosa expresses its gratitude for the trust of its stockholders, the dedication of its employees and the continued support of its distributors, suppliers, customers and partners.