Mexico City / MX. (gb) Mexico’s Grupo Bimbo S.A.B. de C.V. reported its financial results for the three months ended 30 June, 2019.
Highlights of the Quarter
Net sales were essentially flat year-overyear, mainly due to a stronger Mexican Peso, volume pressure in North America and a weaker consumption environment in Mexico, offset by sales growth in EAA. Operating income increased 59.3 percent and the margin expanded 220 basis points primarily due to lower restructuring expenses. Adjusted Ebitda increased 3.3 percent, while the margin expanded 50 basis points. Net majority income rose 527 percent and the net margin expanded 140 basis points.
Recent Developments
For the second consecutive year, Grupo Bimbo was honored as the most committed Company to the use of renewable energies. Also Grupo Bimbo was recognized as one of the five most reputable Mexican companies, according to the annual Reptrak Mexico 2019 ranking published by the Reputation Institute.
«While challenging conditions persist in some of the markets we serve, we continue to implement cost controls and leverage our global leadership and brand strength to drive long-term growth,» says Daniel Servitje, Chairman and CEO, in the Group’s statement.
«During the second quarter we achieved solid profitability performance by effectively leveraging our diversified scale, bringing strong brands to new markets, capturing synergies with acquired operations and extracting the benefits of restructuring programs previously implemented,» says Diego Gaxiola, CFO, in the same statement.
For additional information please read Grupo Bimbo’s PDF file below (588 KB).
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