Grupo Herdez third quarter 2019 earnings release

Mexico City, Mexico, October 24, 2019 – Grupo Herdez, S.A.B. DE C.V. (“Grupo Herdez” or the “Company”) (MSE: HERDEZ) today announced the results of the third quarter of 2019, ended September 30, 2019.

“Our sales continue to reflect the execution of our commercial strategy. Our investments in innovation will continue to be the basis of future growth,”

Said Héctor Hernández-Pons Torres, Chairman and CEO of Grupo Herdez.

HIGHLIGHTS FOR THE QUARTER

  • Net sales grew 7.0% compared to the same quarter of the previous year, driven by price increases across all segments.
  • EBIT and EBITDA margins of 13.5% and 17.6%, respectively, benefited by an extraordinary income regarding the sale of one tuna vessel during the quarter..
  • Consolidated net income was MXN 461 million, representing a margin of 8.3 percent affected by MegaMex.