Grupo Herdez B de C : Second Quarter Earnings Release 2023
July 20, 2023 at 08:04 pm EDT
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General/ By Juan Antonio Hernández
Mexico City, Mexico, July 19th, 2023 - Grupo Herdez, S.A.B. de C.V. ("Grupo Herdez" or the "Company") (MSE: HERDEZ) today announced results for the second quarter ended June 30, 2022.
"Our quarterly results reflect a positive outlook. In line with our expectations, margins showed solid recovery, and the Preserves, Impulse, and MegaMex businesses continued to perform well during the period. Although we have seen a slowdown in overall consumption, we expect it will be temporary", said Héctor Hernández-Pons Torres, Chairman and Chief Executive Officer of Grupo Herdez.
CONSOLIDATED HIGHLIGHTSFOR THE QUARTER.
SECOND QUARTERRESULTS
2Q2023
%
2Q2022
%
% change
Sales
8,753
100.0
7,667
100.0
14.2
Gross Profit
3,308
37.8
2,685
35.0
23.2
EBIT
1,060
12.1
778
10.2
36.2
Consolidated Net Income
702
8.0
395
5.1
77.9
EBITDA
1,337
15.3
1,047
13.7
27.7
Figures in Millions of MXN
*EBITDA =Earnings Before Taxes Depreciation and Amortization
Grupo Herdez SAB de CV published this content on 20 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 July 2023 00:03:00 UTC.
Grupo Herdez SAB de CV is a Mexico-based company engaged in the food processing sector. The Company's activities are divided into two business segments: Food and Frozen. The Food division focuses on the manufacture and distribution of canned and packed food products in Mexico and the United States. Its offer includes burritos, canned vegetables, guacamole, home-style salsa, honey, jam, ketchup, mayonnaise, mole, mustard, organic food, pasta, spices, tea, tomato puree and tuna, among others. It sells products through a number of brand names, such as Aires de Campo, Barilla, Bufalo, Chi-Chi's, Del Fuerte, Don Miguel, Dona Maria, Embasa, Herdez, La Victoria, McCormick, Wholly Guacamole and Yemina. In addition, it has distribution agreements in Mexico for GoGoSqueez, Kikkoman, Ocean Spray, Reynolds and Truvia products. The Frozen division is responsible for the manufacture and distribution of frozen yogurts and ice creams under the Nutrisa and Helados Nestle brand names.
GRUPO HERDEZ, S.A.B. DE C.V. 
