Context: How Bolsa de Valores de Asuncion works, and what it makes issuers disclose · Paraguay on the LatAm Power Map
Paraguay’s self-described king of home appliances has spent eighty years building a business most of its neighbours never even knew existed — and in March 2025 it quietly told regulators it is about to become something much bigger.
| Full name | Nicolás González Oddone S.A.E.C.A. |
|---|---|
| Ticker / exchange | NGO · Bolsa de Valores de Asunción (BVA) |
| Headquarters | Rca. Dominicana N° 1607 esq. Schinini y Vía Férrea, Asunción, Paraguay |
| Sector | Consumer electronics & home-appliance import and distribution |
| Employees | Not published: not disclosed in BVA filings or the company’s public-facing pages |
| Market value (market cap) | Not published: NGO shares trade on the BVA but no capitalisation figure is available in public exchange data or filings reviewed |
| Yearly sales (revenue) | Not published (see note below) |
| Net profit | Gs. 74,406 million (≈ US$12.3M) — fiscal year Dec 2019, the most recent figure in any verified primary source (Riskmetrica rating report, Jun 2020) |
| Net margin | Not published for recent periods |
| Return on equity (ROE) | 8.2% (Dec 2019, Riskmetrica) |
| Price-to-earnings (P/E) | Not published |
| Dividend yield | Not published; historical payout ratio ~30% of net profit (Riskmetrica, 2020) |
| Website | ngosaeca.com.py |
What it is
NGO is Paraguay’s dominant importer and seller of home appliances and consumer electronics — the company a Paraguayan family turns to when they need a refrigerator, television, or air conditioner. It distributes exclusive international brands at wholesale and is also the owner of the home-appliance brand TOKYO.
Its distribution centre covers 40,000 m² and the company runs a nationwide network of more than 80 authorised technical-service representatives. A second facility of 2,475 m² in Alto Paraná, opened in 2017, serves the country’s eastern border region.
Who owns it
Ownership is concentrated in the González Rodríguez family: Nicolás González held 27.73% and Mauro González 26.22% as of the last verified rating report, together accounting for a combined majority and occupying the posts of President and Vice-President of the board. The free float — the share available to outside investors on the BVA — is not separately published in available sources.
The family has historically retained roughly 65% of annual profits inside the business and paid out around 30% as dividends — a conservative, self-financing philosophy that has underpinned the company’s low debt levels.
Who runs it
The registered President with the Paraguay Securities Superintendent (SIV) is Nicolás Víctor González Rodríguez, who also serves as the named responsible officer alongside Laura Beatriz Valdez Orrego. Paraguay’s national procurement register also lists Carlos Andrés Galiano Acosta and Nino Raúl Cricco Appleyard as legal representatives of the company.
A dedicated CFO title is not published in available regulatory filings; the family-controlled board structure is the effective governance layer.
The money, in plain words
The most recent audited profit in any primary source is Gs. 74,406 million (≈ US$12.3M) for the year ending December 2019, confirmed by Riskmetrica’s rating report.
In that same year, the company more than doubled its paid-in capital — from Gs. 270,000 million to Gs.
635,042 million — by converting retained reserves into permanent equity, a sign of a business that ploughs profits back rather than borrowing.
Not published: full audited revenue and net-profit figures for fiscal years 2020–2024 are not available in the BVA emitters page, the SIV/BCP filings portal, or the company’s own investor-relations section (ngosaeca.com.py/estados-financieros). The SIV formally suspended NGO from issuing securities in the primary market on 16 August 2024, citing the company’s failure to file the mandatory quarterly periodic report for the period ending 30 June 2024, as required by SIV Resolution N° 0022/2024.
Until that compliance gap is closed, the most recent independently verified operating picture remains the 2020 Riskmetrica snapshot: the business has historically grown on its own resources, reflected in a high equity-solvency ratio and low debt levels — its principal financial strength.
What it is doing now
In March 2025, NGO filed a material-event notice with the SIV announcing the creation of new business units in real estate and agribusiness, describing the move as a restructuring aimed at optimising resource management and improving profitability through specialisation by area. This is a significant pivot: a company known entirely as an appliance importer is formally diversifying its legal structure into two sectors — land and property — that are the backbone of Paraguay’s broader economy.
Meanwhile, the company’s own website promotes what it calls a “Pacto de Confianza” (trust pact) with customers and continues to expand its e-commerce channel alongside its physical distribution network.
What to watch
- Regulatory compliance: The August 2024 suspension from the primary securities market — triggered by a missed quarterly filing — must be resolved before NGO can raise fresh capital publicly. Watch for restoration of its filing status with the SIV.
- Diversification execution: The new real-estate and agribusiness units announced in March 2025 are a strategic bet. Whether NGO can manage assets in two capital-heavy, cyclical sectors without straining the lean balance sheet it built over decades is the central question.
- Succession and governance: With Nicolás González Rodríguez holding the presidency and two family branches controlling a combined majority, any change in leadership or inter-family dynamics is a material governance event in a company of this size.
- Financial transparency: Investors and creditors cannot currently assess 2021–2024 performance from public sources. Any resumption of full periodic reporting will be the first genuine data point in four years.
Sources
- Superintendencia de Valores del Paraguay (SIV/BCP) — NGO S.A.E.C.A. issuer page, including the August 2024 suspension notice and the March 2025 material-event filing: https://siv.bcp.gov.py/?page_id=751
- Riskmetrica S.A. — Private credit-rating report on NGO S.A.E.C.A., cut-off 30 June 2020 (the most recent publicly accessible audited-data source for financials, ownership and board): https://riskmetrica.com.py/images/descargas/calificaciones/Informe%20NGO%20SAECA%20Jun20.pdf
- NGO S.A.E.C.A. official company website — history and corporate pages: https://ngosaeca.com.py/historia
- Paraguay National Procurement Register (DNCP) — legal representative and registration data: https://www.contrataciones.gov.py/proveedor/nicolas-gonzalez-oddone-saeca.html
- Bolsa de Valores de Asunción (BVA) — emitters listing page: https://www.bolsadevalores.com.py/listado-de-emisores/38
- Market data: EODHD.
This is news, not investment advice.
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