Gruma: reports fourth quarter 2023 results

San Pedro Garza Garcia / MX. (gr) «We are pleased with Gruma’s Q4-2023 performance, helping close a successful year for the company. Excluding the effect of an extra week of operations in the US, and Asia and Oceania in Q4-2022, the fourth quarter delivered positive end of the year performance despite price sensitivity and volume volatility in some businesses as part of an ongoing selectivity strategy. Market fundamentals remained in line with the trends seen during all of 2023, and we were successful in safeguarding the profitability of our company as evidenced by a 10 percent Ebitda expansion in the quarter, and 11 percent growth on an Ebitda per ton basis. Excluding the effect of the additional week of operations, Ebitda would have grown 15 percent. Margins at a consolidated level, expanded 70-basis points, and positive profitability in all of our subsidiaries outside of Mexico translated to Ebitda margin of 16.7 percent. With the closing of this successful year we remain focused and committed to our shareholders to continue executing on the positive trends we see in tortilla consumption, especially in our Better For You category, and to keep making our product offering more attractive and with the highest quality standards,» Mexico’s Gruma S.A.B. de C.V. said in its statement for the fourth quarter 2023.

For additional information please read the company’s PDF file below (414 KB):