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In the third quarter of the year, Grum The leading company in corn flour, tortillas and wraps reported that in the period it obtained an EBITDA of 288 million dollars and a operating profit for 227.9 million dollars.
He highlighted that the multinational’s sales volume stood at 1,086 thousand metric tons.
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He specified that the global demand for tortillas maintains constant growth due to consumer taste, mainly in the US and European markets.
The flour company stated that the United States is its most important market with its line of healthy products “Better for You”, and in the old continent, the products marketed under its Mission brand, mainly tortillas, continue to be positioned in the tastes of consumers.
In the US, the firm achieved stable sales volume, reaching 398 thousand tons and net sales of 917.4 million dollars, a 3% increase in EBITDA during the third quarter of the year.
Grum He explained that in the case of Europe the volumes remained stable at 102 thousand tons of product, while net sales increased 5%.
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“The operating profit in that subsidiary grew 62%, EBITDA by 45% and its EBITDA margin reached 14.5%,” the group explained.
As for Asia and Oceania, sales grew 5%, while volumes remained stable; Despite a slowdown in China, strong demand in Australia and Malaysia led this subsidiary to achieve an operating profit 42% higher than that of 3Q23 and reach an EBITDA margin of 14.1%.
EAM