Mexico City, Mexico, April 21, 2016 – Grupo Herdez, S.A.B. de C.V. (“Grupo Herdez” or the “Company”) (MSE: HERDEZ, OTC: GUZBY) today announced results for the first quarter ended March 31, 2016.
Said Héctor Hernández-Pons Torres, Chairman and Chief Executive Officer.
“We are pleased to report double digit sales growth in the quarter, largely reflecting the effectiveness of our focused commercial strategy in Mexico and a positive calendar effect. While margins were under pressure due to higher costs and the greater impact of seasonality in the ice cream category, we are confident that our operating strategy will
support performance in the year,”
Highlights from the quarter:
- Consolidated net sales rose 16.4% primarily driven by strong performance in Mexico core and two additional months of Helados Nestlé.
- EBIT and EBITDA margins were 11.6% and 13.9%, respectively.
- CAPEX in the quarter totaled Ps. 233 million, mainly allocated to the ongoing expansion of the distribution center in Sinaloa.