Good morning, everyone. Welcome to this webinar to discuss Grupo Carso results for the second quarter of 2026. Before we begin, I would like to remind you that this event is being recorded and that information discussed today may include forward-looking statements regarding the company's financial and operating performance. All projections are subject to risks and uncertainties, and actual results may differ materially. Hosting today's conference are Mr. Arturo Spínola, Chief Financial Officer of Grupo Carso, and I, Rogelio Barradas from investor relations. We will first provide a brief overview of the second quarter financial results, where all figures are expressed in Mexican pesos, and then proceed to the Q&A session.
Grupo Carso consolidated sales totaled MXN 48.2 million during the quarter, increasing 3.9% compared to the second Q of 2025, despite the adverse foreign exchange translation effects resulting from the appreciation of the Mexican peso.
Zamajal and Grupo Sanborns were the divisions with the strongest revenue growing during the quarter. Consolidated operating income amounted to MXN 5.1 million, compared with MXN 6.4 million in the same period of last year. It is important to note that the second quarter of 2025 included net extraordinary gains of approximately MXN 1.3 million related to the divestiture of the Group's U.S. cement operations. Excluding these non-recurring effects, operating income would have increased by approximately 1% year-over-year. EBITDA totaled MXN 7.2 million, compared with MXN 8.5 million in the second quarter of last year. Both periods include the effects associated with the aforementioned divestiture. Controlling net income reached MXN 3 million, increasing 10.6% year-over-year. Regarding the performance by division, for Grupo Sanborns, revenues reached MXN 17.8 million, increasing 8.4% compared to the same quarter of last year. Operating income increased 11.4% to MXN 806 million, while EBITDA reached MXN 1.36 million.
Results benefited from higher commercial activities. For Grupo Condumex, sales totaled MXN 13.4 million, increasing 1.7% despite stronger peso. Operating income and EBITDA amounted to MXN 1.13 million and MXN 1.28 million respectively. Profitability was mainly affected by foreign exchange headwind resulting from the appreciation of the Mexican peso. In the case of Carso Infraestructura y Construcción , sales reached MXN 7.3 million during the quarter. Operating income and EBITDA totaled MXN 307 million and MXN 549 million respectively, reflecting expenses associated with offshore platforms currently undergoing refurbishment activities. The division's backlog totaled MXN 34.7 million compared with MXN 17.3 million a year earlier. For Elementia and Fortaleza, sales amounted to MXN 6.5 million compared with MXN 7.8 million in the second quarter of 2025. The decline was mainly attributable to lower activity in the U.S. market and FX effects. Operating income totaled MXN 2.3 million and EBITDA reached MXN 2.7 million.
Results were affected by higher operating costs, startup expenses associated with the North Carolina plant, and cost related to the closure of the Vallejo facility of the metal business unit in Mexico City. For Carso Energy, revenues reached MXN 735 million, decreasing 13% compared with the second quarter of last year, mainly due to the foreign exchange effects, as well as lower electricity sales in Panama associated with El Niño phenomenon. Operating income and EBITDA totaled MXN 518 million and MXN 611 million respectively. In the case of Zamajal, revenues increased significantly to MXN 3.2 million compared with MXN 476 million in the second quarter of 2025, primarily driven by the execution of Ixachi. As a result of ongoing contracts and projects, backlog reached MXN 29 million at the end of June. Production at the Ichalkil and Pokoch fields will improve once we incorporate the full operation of Fieldwood.
Operating income improved to a profit of MXN 256 million compared with the loss recorded in the same period last year. While EBITDA totaled MXN 538 million, contributing 7% of consolidated EBITDA. Before closing, we would like to highlight several relevant developments during the quarter. Grupo Carso completed the sales of Keystone Cement for a transaction value of approximately $310 million. Additionally, to Zamajal, and strengthening its strategic positioning in the segment, the Group entered into a binding agreement to acquire an additional 5% interest in the Zama field, which, upon closing, would increase our participation to approximately 17.84%, along with the binding agreement with TotalEnergies to acquire a 30% stake in Block 30. With this, we conclude our remarks. Thank you for your attention.
We will now proceed to the Q&A session. We will switch to Spanish for greater clarity in the responses.
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The first question comes from Emilio Fuentes de León, GBM.
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