Mexico City, Mexico, July 21, 2016 – Grupo Herdez, S.A.B. de C.V. (“Grupo Herdez” or the “Company”) (MSE: HERDEZ, OTC: GUZBY) today announced results for the second quarter ended June 30, 2016.
“Despite the challenges experienced in the period, we are on track to deliver our annual guidance as ongoing execution of our commercial and operational strategies drive solid sales growth and will continue to mitigate cost pressures,”said Héctor Hernández-Pons Torres, Chairman and Chief Executive Officer
Highlights from the quarter:
- Consolidated net sales rose 12.3% primarily driven by strong performance in Mexico core and the high season at Helados Nestlé.
- EBIT and EBITDA margins were 12.2% and 14.9%, respectively, reflecting the expected sequential recovery from the first quarter.
- CAPEX in the quarter totaled Ps. 93 million, mainly allocated to the expansion of the frozen segment.