Grupo Herdez SAB de CV

04/17/2024 | Press release | Distributed by Public on 04/18/2024 11:54

Grupo Herdez First Quarter 2024 earnings release

Mexico City, Mexico, April 17, 2024 - Grupo Herdez, S.A.B. de C.V. ("Grupo Herdez" or the "Company") (MSE: HERDEZ) today announced results for the first quarter ended March 31, 2024.

"We begin 2024 with a significant expansion in our margins driven by lower costs of key raw materials. In the coming months, we will reinvest part of these benefits in the market,.", said Héctor Hernández-Pons Torres, Chairman and Chief Executive Officer of Grupo Herdez.

FIRST QUARTER RESULTS

1Q2024

%

1Q2023

%

% cambio

Net Sales

8,886 100 8,632 100 2.9

Gross Profit

3,500 39.4 3,138 36.4 11.5

EBIT

1,249 14.1 1,046 12.1 19.4

Consolidated Net Income

840 9.5 797 9.2 5.4

EBITDA

1,561 17.6 1,316 15.2 18.6

Figures in millions of MXN.

*EBITDA= Earnings Before Interest Taxes Depreciation and Amortization