Grupo Herdez B de C : Third Quarter Earnings Release 2023
October 18, 2023 at 07:19 pm EDT
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General/ By Juan Antonio Hernández
Mexico City, Mexico, October 18th, 2023 - Grupo Herdez, S.A.B. de C.V.("Grupo Herdez" or the "Company") (MSE: HERDEZ) today announced results for the third quarter ended September 30, 2022.
"This quarter results reflect a recovery in consumption as well as a significant expansion in our gross margin after the disruptions caused by the pandemic. In the near term, we anticipate a normalization of inflation, which will allow us to focus on innovation and various initiatives to stimulate demand," said Héctor Hernández-Pons Torres, Chairman and Chief Executive Officer of Grupo Herdez.
CONSOLIDATED HIGHLIGHTSFOR THE QUARTER
3Q2023
%
3Q2022
%
% cambio
Sales
9,019
100.0
7,961
100.0
13.3
Gross Profit
3,670
40.7
2,702
35.0
23.2
EBIT
1,282
14.2
854
10.7
50.1
Consolidated Net Income
830
9.2
469
5.9
76.8
EBITDA
1,600
17.7
1,170
14.7
36.8
Figures in Millions of MXN
* EBITDA = Earnings Before Taxes Depreciation and Amortization
Grupo Herdez SAB de CV published this content on 18 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 October 2023 23:18:34 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. 
