Gruma: reports third quarter 2022 financial results

San Pedro Garza Garcia / MX. (gr) «Along with resilient and robust demand, Gruma has also introduced and expanded new products into our markets yielding very satisfying results. Our tortilla operation continues to expand on the back of healthy consumer purchasing trends, and we have not seen trade downs or substitutions for other products. Thanks to our resilient and extensive product line, Gruma has been in a good position to offer products that satisfy different needs and client profiles increasing volumes sold by 4 percent and profitability reflected in an Ebitda expansion of 13 percent with Ebitda per ton growth of 10 percent,» Mexico’s Gruma S.A.B. de C.V. said in its statement for the third quarter 2022.

Sales volume increased 4 percent to 1,093 thousand metric tons compared to 3Q21 driven mainly by the U.S. division and Gimsa. Net sales increased 21 percent to USD 1.4 billion due to transferring incremental costs and expenses to the top line of the income statement; and higher sales volume in the U.S. Sales from non-Mexican operations represented 75 percent of consolidated figures. Operating income increased by 16 percent to USD 159.3 million. Operating margin decreased 50 basis points to 11.1 percent from 11.6 percent. Ebitda increased 13 percent to USD 208 million, and Ebitda margin decreased 90 basis points to 14.5 percent. For additional information please read the company’s PDF file below (402 KB):


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