Mexico City / MX. (gb) Mexico’s Grupo Bimbo S.A.B. de C.V. reported its results for the three and twelve months ended December 31, 2019.
Highlights of the Year
- Excluding FX effect, net sales grew 2.5 percent, mainly due to good performance in Mexico and EAA
- Adjusted Ebitda increased 5.4 percent, with a margin expansion of 50 basis points reaching 11.5 percent
- Free Cash Flow amounted to 2.4 billion MXN
- Net debt to adjusted Ebitda ratio decreased to 2.4x
- Grupo Bimbo expanded its operations to Kazakhstan, broadening its global leadership to 33 countries
- The Company completed the acquisition of Lender’s, The largest US player in refrigerated and frozen bagels
- Grupo Bimbo received the 2019 Rabobank Award for Leadership in Sustainabilily
- Grupo Bimbo signed the National Agreement for the New Plastics Economy in Mexico
- The Company announced its commitment to additionally include 4,000 electric vehicles for 2024
- Grupo Bimbo moves forward in its renewable energy strategy in Mexico, delivering the first electric vehicles fleet under the Vekstar brand, in addition to hybrid vehicles
«I am very pleased with our 2019 results, as we successfully overcame challenges in certain markets through strong operational execution and broad diversification globally, while we continue to invest in increasing our penetration and brand awareness,» says Daniel Servitje, Chairman and CEO, in the Group’s statement.
«Grupo Bimbo’s strong operating efficiency and commitment to being an agile Company, enabled us to achieve sales growth in local currencies in Mexico and EAA. Our balance sheet continues to strengthen as we deleveraged reaching 2.4 times net debt to adjusted Ebitda,» says Diego Gaxiola, CFO, in the same statement.
For additional information please read Grupo Bimbo’s PDF file below (723 KB).20200306-BIMBO-Q4-2019