San Pedro Garza García / MX. (gr) According to Mexico’s Gruma S.A.B. de C.V. the second quarter reflected a rebalancing of the product portfolio mirroring the paced recovery of the world´s economies as businesses intensify their regular activities towards pre-pandemic levels. For Gruma, this meant a healthy growth in the food service and industrial channels of the tortilla and corn flour business respectively, and a targeted effort to retain the demand at its retail channels. The company feels very comfortable with the structural rebalancing that has been taking place, especially in the US tortilla retail channel, where Gruma’s performance and demand in the first half of the year, if annualized, would be growing at a CAGR close to 10 percent in sales over two years compared to the historical four-percent-rate (in the 2013 to 2019 data range). Moreover, the consolidated financial indicators also point to a very stable uptrending growth of 15 percent in Net Sales and in Ebitda since 2019. This just highlights that the company’s strategy is yielding great results, which should continue, especially with the innovation effort in product lines across the global footprint, – Gruma said in its quarterly statement for the second three months 2021.
For additional information please read the Company’s PDF file below (281 KB):20210726-GRUMA-Q2-2021