Mexico City, Mexico, February 27, 2020 – 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, 2019.
“Our focus on innovation and growth, in conjunction with the resilience of our brands, gives us the confidence to look towards the future with optimism. We have done this for 105 years, and will continue doing so 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 6.9% to MXN 22.4 billion, mainly driven by price increases over the last 12 months.
- EBIT and EBITDA margins were 13.3% and 17.0%, respectively. EBIT declined 1.0 percentage points, whereas EBITDA margin increased 0.2 percentage points due to the adoption of IFRS 16.
- Net income totaled MXN 2.2 billion, 8.2% lower than in 2018, with a margin decrease of 1.7 percentage points, due to lower participation in non-consolidated equity investments which fell to 9.9 percent.