Mexico’s Grupo Bimbo, one of the world’s largest bakeries, reported record net sales and profit figures on Wednesday, as reported in its third quarter 2021 earnings report.
In the financial report, Bimbo pointed out that its net sales, from January to March, reached 88.18 million pesos (about $ 4.32 million), a record figure, with an increase of 2.9% over at the same period 2020.
This, “mainly due to the strong performance of volumes and a favorable price mix in all regions,” they shared.
“I am very proud of our third quarter results. (…) We have sequentially achieved record levels of sales and profits and our cash flow has increased steadily,” said Daniel Servitje, Chairman of the Board of administration and CEO of the group, in the Bimbo report.
In addition, they said in the document that majority net profit rose 11.9%, with a 40 basis point margin increase.
The report specifies that in the North American region, despite the complicated comparison by covid-19, “net sales in US dollars increased by 5.5%, due to a good performance in the pastries, breakfast categories. , sweet bread and snacks “. .
This is also explained by the increase in prices, the optimization of commercial expenses and the favorable price mix.
Net sales in this region reached 44,272 million pesos (approximately $ 2,171 million).
In pesos, net sales fell 4.6%.
While in Mexico, net sales reached 30,332 million pesos (approximately 1,488 million pesos), an increase of 16.4% compared to the same period in 2020.
In Europe, Asia and Africa, sales increased 7.5%, “driven by double-digit growth in most countries and the inorganic contribution of acquisitions made in the Iberian Peninsula and India.
At the same time, third quarter net sales in Latin America increased 3.7% in peso terms.
This “mainly due to the exceptional performance of volumes and a favorable price mix in all organizations, highlighting Brazil, Chile, Paraguay and the eight countries of the Latin Centro division, as well as the categories of bread, sweet bread, tortillas and snacks, “they detailed.
Among the highlights of this third quarter, the company highlighted the acquisition of Kitty Bread in India, Aryzta in Brazil and Popcornopolis in the United States.
In addition, Grupo Bimbo announced its commitment to achieve zero net carbon emissions by 2050 and announced that it has made progress towards its sustainability goals, as its operations in France, Italy, Russia and Turkey are operating. already with renewable electricity.