Vending

Grupo Bimbo reports record Q2 2022 results

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July 22, 2022

Grupo Bimbo, a Mexico City based global manufacturer of baked goods, reported record sales and earnings growth for Q2 2022, according to a press release. Highlights include:

• Net sales reached a record level for a second quarter, rising 18.1% from 81.65 billion pesos ($3.97 billion) to 96.43 billion pesos ($4.69 billion), due to strong price/mix and volumes performance across every region.
• Net majority income more than doubled from 3.08 billion pesos ($150 million) to 6.146 billion pesos ($300 million).
• North America sales rose 16.3% from 42.5 billion pesos ($2.07 billion) to 49.45 billion pesos ($2.41 billion).
• Mexico sales rose 21.6% from 26.12 billion pesos ($1.27 billion) to 31.77 billion pesos ($1.55 billion).
• Europe, Africa and Asia sale rose 7.4% from 8.3 billion pesos ($400 million) to 8.9 billion pesos ($430 million).
• Latin America sales rose 30.8% from 7.37 billion pesos ($360 million) to 9.64 billion pesos ($470 million).

Shares traded today at $3.60 against a 52-week range of $2.09-$3.61.

"Topline performance was exceptional in this second quarter, as we reached a record level of sales and saw broad-based share gains across our portfolio," Daniel Servitje, chairman and CEO, said in the press release. "Our volumes strongly grew across all our regions as a reflection of the high demand we are experiencing as our brands continue to resonate with our consumers."