Mexico City, Mexico, February 22, 2018 – 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 ending December 31, 2017.
“In 2017, our focus on results allowed us to break new records in sales and profits. DespiteSaid Héctor Hernández-Pons Torres, Chairman and Chief Executive Officer.
the initial volatility of the exchange rate, the increase in inflation and different natural
phenomena that impacted the country during the year, the resilience of our business model
enabled us to achieve outstanding results,”
Highlights for the year:
- Consolidated net sales increased 10.4 percent to a record MXN 20,065 million.
- Consolidated EBIT and EBITDA margins were 13.9 and 16.4 percent, respectively, both with a 90 basis points expansion.
- Majority net income reached a record MXN 1,046 million, 45.8 percent higher than in 2016, with a margin of 5.2 percent, aided by a lower deferred tax liability in the U.S.