Gruma: reports third quarter 2024 results

San Pedro Garza Garcia / MX. (gr) «The third quarter of the year followed the same trends we saw in Q2-2024 in terms of market dynamics. The global retail tortilla space continued to show solid performance with a positive evolution; in our «Better for You» product category in the US, we are very pleased with its performance in the quarter particularly during the last couple of months, although volume contraction in the food service channel continues to be an area of focus for the overall operation. Europe’s tortilla business continues to expand favorably across the entire continent, and Asia and Oceania keep delivering strong results despite a lower contribution from the operation in China. Geopolitical challenges and unusual weather conditions affected the typical distribution of corn milling and corn flour products in Europe and Mexico respectively, while Central America continues to deliver solid results in line with a more robust product line across the markets that this subsidiary services. Through our continued focus on our strategy, Gruma reached a consolidated Ebitda growth of 3 percent, and profitability grew 4 percent in terms of Ebitda per ton in spite of a tough comparison base in Q3-2023,» Mexico’s Gruma S.A.B. de C.V. said in its statement for the third quarter 2024. For additional info please read the PDF file below (399 KB):