Mexico City, Mexico, February 27, 2019 – Grupo Herdez, S.A.B. DE C.V. (“Grupo Herdez” or the “Company”) (MSE: HERDEZ) today announced results for the fourth quarter and full year ended December 31, 2018.
“The resilience of our brands and the focus of our people in execution, gives us the confidence to see the future with optimism and adapt to the changing environments of our industry and country. We have done it for 104 years, and we will continue to do it for many more,”Said Héctor Hernández-Pons Torres, Chairman and Chief Executive Officer of Grupo Herdez.
CONSOLIDATED HIGHLIGHTS FOR THE YEAR
- Net sales increased by 4.5 percent to MXN 20.9 billion, mainly driven by price increases in the Preserves segment.
- EBIT and EBITDA margins were 14.3 and 16.8 percent, respectively, expanding 40 basis points each.
- Net income totaled MXN 2.4 billion, 11.9 percent higher than in 2017, with a margin growth of 80 basis points to 11.6 percent.