Mirela Velasquez, General Manager of Hermes
He noted that the first half of 2025 was slow in terms of growth. Will the better dynamism of the second semester make up for these results?
The second semester does not fully compensate for the slow growth of the first. We’re up about 2.5% over the middle of the year, but we’ve had time to react, and that’s already showing an improvement over 2024. For us, December 2025 was a crucial month due to the strong flow of money associated with withdrawals from AFP, CTS and other streams.
What new projects do you have on your radar for 2026?
We are going to include a a new business vertical: specialized logistics with a strong security component for handling sensitive or “hot” goods such as technological equipment, information, documentation and pharmaceutical products. We are evaluating several industries and believe that there is no other company today with the potential that we can deploy in the context of growing public uncertainty.
Will this new business involve an additional fleet?
yes. It is a completely new scheme with a dedicated fleet, national coverage and technology integration that enables complete information tracking. We are currently developing a business case specific to this block.
How much will they invest in this new vertical?
I am currently closing the strategic plan for 2028, we will present it in the first quarter of 2026. It is an investment focused on a service that is not common in the market.
READ ALSO: Lack of security costs Peru more than 6,000 million S/S: these three regions are crucial
Will they use it? experience the bottom CVC Capital Partnersits main shareholder?
Undoubtedly. In my experience with several funds, having an investment fund gives us access to the world’s leading companies, and we have access mainly in Europe. Today we are evaluating Italian and Spanish companies to determine which solutions and cases we could adapt to the local market.
Does the plan for 2028 also include inorganic growth?
We always contemplate it. Our last acquisition was in 2018, and Smart Security, which today represents about 2% of our portfolio, serves a fairly dispersed but relevant market because it complements our value proposition.
Does this mean CVC will last longer?
They always see the right time. In 2025, we are celebrating five years with them, and we are developing a strategic plan for the next three years. That doesn’t necessarily mean they’re going to stay, we don’t know what that means, they’re betting on the future, and as I always say, the company is selling at its valuation in the coming years.
How much will they invest in 2026, given that demand for security services may increase in an election year?
This year, we estimate an investment of about S/S 20 million. By 2026, it could rise to 24 million S/24, although this is not a significant increase as there are assets that no longer require renewal. In the mining industry, for example, there are protocols and possible alternative routes for transporting valuables, so we are more likely to adjust the type of vehicles according to the planned logistics.
READ ALSO: Faced with public uncertainty: households shop less but increase spending
Retail trade is gaining prominence
You serve sectors such as mining, financial, retail and services. Which one shows more dynamism for your business today?
Retail, along with mining, is the sector recording the best growth, driven by an increase in the number of stores and the emergence of new players.
How important is the retail sector in your business today?
It accounts for about 20% of our revenue, it is an important sector because of the growth rate it shows, which is higher than other sectors. And it is not only about food stores, but also about cosmetics, entertainment and other formats, and this is the promotion of our services, such as smart safes.
How much has the retail demand for Hermes Peru services grown?
About 15% per point because there are new actors. We serve 90% of companies in this business.
“Retail, along with mining, is the sector registering the best growth, driven by the growth of stores and the emergence of new players,” commented the CEO of Hermes Peru.
Traffic in mining
And how did the mining sector fare in 2025?
In the second semester, we saw more traffic thanks the price of goldwhich allowed us to engage in additional processes within the framework mining operations.
What types of processes do you mean?
Historically, we have focused on the transportation of value, then moved on to processing, and today we are more deeply integrated into the customer’s supply chain, which allows us to offer outsourcing more comprehensive, so that the client has only one person responsible for any case.
READ ALSO: Gold and its cycles: what should we expect?
Have they increased their mining client portfolio?
yes. We have entered into processes related to the management of activated carbon, which involve important operations other than gold bullion management. There we discovered new possibilities.
How many more?
We have about 50 clients in our portfolio related to the purchase of precious metal. We are working on five additional projects, which are about 10% of the total, but with a corresponding scope.
How will this growth be sustained in the medium term?
We feel optimism in the mining industry. We are optimistic that the election process will allow for clear rules, and from a geopolitical environment, everything points to the gold price remaining high—though not necessarily at its peak—allowing progress in development and production projects.
May 13, 2010 15 years ago. The high price of gold will offset the drop in production this year.
Opportunity in the province
What challenges do you face in the financial sector due to less use of cash in Lima?
The financial sector remains the most important in terms of revenue for our business. Although there is less cash movement in Lima due to the digitization of payment methods, there are compensation processes between financial institutions and the Central Reserve Bank that are carried out in our institutions, which supports the escrow service.
An opportunity then in the province?
There is still a lot of room for growth and opportunity in the provinces, with low penetration. We manage agencies for banks, provide staff and represent the institution’s brand, so conveying values is still key. What activated the introduction of new industries. This year we opened a branch in Iquitos, a place where there is no land route and everything is transported by river. The financial sector remains stable compared to 2024, albeit with a different composition.
In addition to Iquitos, will there be new branches opening in 2026?
We are evaluating two new cities. Each branch requires an investment of about 8 million S/S. Today we have 17 branches in the provinces and one in Lima. The goal is to approach areas that are not necessarily regional capitals, but that are showing strong growth, as we see in Trujillo and Huanuco.
The other thing I say is that the CEO of Hermes Peru is speaking his mind
- Tracking and matching when transporting valuables: Given the expansion of Reinfo and in the context that some Peruvian congressmen will seek to make some market rules more flexible without taking into account operational and compliance risks in the transportation of value, the CEO of Hermes Peru warned that in the case of gold, they are under pressure from companies that are not formalized and are looking for export services without being able to prove the origin of the mineral. “If we can’t verify the provenance of the gold, we simply don’t serve it”spent This situation has spawned some regulatory initiatives in Congress that seek to relax the requirements and allow “anyone” to provide services that the executive branch deems unsafe. “Poorly designed facilities end up being grounds for illegality”he emphasizes.
- A powerful message for women: Mirela VelazquezCEO of Hermes Perú, believes that female leadership should not be seen as an exception, but as a natural part of professional growth. “Difficulties exist for everyone – men and women, people from Lima or the province. And motherhood should not be seen as an obstacle, but as another stage to be managed with organization, support and empathy.” – he assures. In this vein, he emphasized the role of companies in accompanying this process, understanding the different personal stages of their employees. “When there is empathy and affection, a relationship of reciprocity is created. This is what allows us today to talk about the “Hermes family” within its 40 years, a company with identity, pride and overall growth”he finished.
