2024-04-29 07:14:23
During the first quarter of the year, the Mexican bread maker Bimbo reported that the strength of weight and the fall of the North American market resulted in a 7.8% drop in its operating flow (EBITDA) with a value of 11,845 million pesos.
“The results of the first quarter were good and, for the most part, resilient, considering the impact of the superweight and the difficult comparison base we have for the first quarter of 2023,” he explained. Diego Gaxiolaglobal director of Administration y Finance.
He recognized that being a global firm has advantages and disadvantages, since in the case of North Americathere was a weak start to the year due to a complicated environment.
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Between January and March, the firm recorded revenues of 93,221 million pesos, a reduction of 6% compared to 99,181 million in the same period of 2023.
Sales of Bimbo bread plummeted 13.2% in North America; in Europa, Asia y Africa They fell 4.5% and in Latin America they fell 3.1%, growth of 3.2% was only recorded in Mexico.
“With the calendar effect of Easter, net sales in Mexico increased 3.2%; Excluding this effect, sales grew more than 7 percent, attributable to the favorable price mix. All channels and almost all categories grew, highlighting pastries, tortillas, cookies, bread and sweet bread, as well as self-service and convenience channels,” the company explained.
The net profit for the first quarter fell 41.8 percent annually, with a value of 2.37 billion pesos, related to negative effects of the exchange rate; higher administration and distribution expenses, as well as investments in restructuring and transformation in some regions.
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“After a record year in 2023, we are starting 2024, a year of investment and transformation of our business, with a first quarter in which we saw the benefits of geographical, category and channel diversification, which allowed us to invest in a business unit for future growth, as is the case of North America,” he added. Daniel ServitjePresident of Advice y Director General of the baking company.
LEO
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2024-04-29 07:14:23