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Grupo Bimbo: Reports Results for Q1-2019

Mexico City / MX. (gb) Mexico’s Grupo Bimbo S.A.B. de C.V. reported its financial results for the three months ended 31 March, 2019.

Highlights of the Quarter

  • Net sales rose 3.6 percent due to organic growth mainly in Mexico, FX rate benefit and the acquisitions completed during the last twelve months.
  • Adjusted Ebitda increased 6.6 percent while the margin expanded 30 basis points, primarily attributable to sales growth and good operating performance in North America and EAA.
  • Operating income rose 10.9 percent with a 40 basis point expansion in the margin on the back of savings in the supply chain.
  • Net majority income grew 1.5 percent, including an impact of MXN 190 million due to the IFRS 16 effect.

Recent Developments

  • The Company adopted IFRS 16 to its financial statements.
  • For the third consecutive year, Grupo Bimbo was honored as one of the «World’s Most Ethical Companies», and was also the only Mexican business receiving this recognition.

«We started 2019 coming off a record year in which we set a better position to face the tough environment, delivering growth and profitability,» says Daniel Servitje, Chairman and CEO, in the Group’s statement.

«In a quarter marked with challenges in our markets, we have seen synergies and efficiencies coming through towards our long-term strategy, capitalizing opportunities and allowing us to keep improving,» says Diego Gaxiola, CFO, in the same statement.

For additional information please read Grupo Bimbo’s PDF file below (543 KB).