The Mexican company earned 2,253 million euros, for the 866 of 2021
The Mexican Baby groupone of the largest bakeries in the world, reported this Wednesday that its net benefits were 46,910 million pesos (2,253 million dollars) in 2022, 195% more than the result of 2021, which was 15,916 million pesos (866 million dollars).
“2022 was an exceptional year, with historic financial performance,” said Daniel Servitje, Chairman of the Board and CEO of Grupo Bimbo, in a statement issued by the bakery. “We increased our market share in most categories, made record capital investments, adjusted our strategic focus on grain-based foods, successfully transformed Argentina and Brazil, and launched our sustainability strategy,” he added.
2022 net profit increased 195% and margin expanded 710 basis points, “attributable to strong sales and operating performance, the Ricolino divestment, the positive effect of MEPPs and a lower effective income tax rate “, pointed to the note.
In its financial report, Bimbo stated that sales “reached record levels” in 2022 with 398,706 million Mexican pesos (21,704 million dollars), with an increase of 17.7% compared to 2021. This is “mainly attributable to a favorable price mix and strong volume performance in all regions, partially offset by the effect of the exchange rate. Excluding the effect of the exchange rate, these increased 20.6%.”
For his part, Grupo Bimbo’s global director of administration and finance, Diego Gaxiola, said in the statement that “after a year of outstanding results, we begin 2023 well positioned to achieve our plan, with continuous investments in key strategic opportunities for the sustainable growth.”
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The report pointed out that Grupo Bimbo’s net sales in the fourth quarter of 2022 also “reached record figures” for the same period, totaling 108,996 million pesos (5,933 million pesos), 15.3% more than the same quarter of prior year, “primarily due to a favorable price mix and volume performance.” “All channels have shown double-digit growth, highlighting the convenience, self-service and traditional channels, as well as the categories of snacks, sweet bread, pastries, cookies and bread,” the statement said.
The bakery noted that, in North America, “the sales Net sales in the fourth quarter grew 21.9% in US dollar terms, “primarily reflecting the successful implementation of the pricing strategy across all categories and channels, as well as an additional week of sales over the same period last year.” . While in Latin America, net sales for the fourth quarter reported an increase of 16.3% in peso terms (33.4% excluding the effect of the exchange rate) compared to the same quarter of 2021, mainly due to a mix of favorable pricing and strong volume performance. “Almost all countries registered double-digit growth in local currency, with Brazil, Colombia, Argentina and Chile standing out and, to a lesser extent, sales growth was also benefited by the inorganic contribution of the acquisition of Aryzta do Brasil,” he said. . On the other hand, net sales in EAA (Europe, Asia and Africa) grew 6.2% in Mexican peso terms (24.2% excluding the effect of the exchange rate), reflecting the implementation of the pricing strategy and the good performance of volumes in most countries in the region, as well as the acquisition of St. Pierre. “This was partially offset by the continuing challenging covid environment in China,” the company said.