Gruma: reports fourth quarter 2022 financial results

San Pedro Garza García / MX. (gr) «Our business continues to deliver solid results amidst this inflationary environment and stem from our excellent performance in our non-Mexican subsidiaries. Demand for our products remains strong, as evidenced by volume growth of 3 percent and sales growth of 26 percent, although we have started to see consumers be more selective and price sensitive in varying degrees in the countries where we operate,» Mexico’s Gruma S.A.B. de C.V. said in its statement for the fourth quarter 2022 financial results. «Innovation has paid huge dividends with the introduction of new products in the tortilla business. While logistics and distribution costs have grown significantly, it is a variable we are prepared to address during the year; we have been successful at managing inflation on our cost structure, as evidenced by Ebitda growth of 27 percent, which came completely from non-Mexican operations, while protecting profitability by expanding Ebitda per ton by 23 percent. With these results, 75 percent of our consolidated Ebitda was generated outside of Mexico and we also achieved our objectives in line with the guidance we provided to the market. Given the uncertain global economic outlook, we remain cautious but optimistic about 2023.» For additional information please read the company’s PDF file below (458 KB):