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Annual Report
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Annual Report
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Debt

HERDEZ13HERDEZ17HERDEZ20HERDEZ20-2HERDEZ22LHERDEZ22-2L
Amount (Ps. Million)$2,000$2,000$2,500$1,000$1,500$1,500
Issuance dateNov 15, 2013June 1, 2017August 25, 2020August 25, 2020June 29, 2022June 29, 2022
Expiration dateNov 3, 2023May 20, 2027August 13, 2030August 19, 2025June 16, 2032June 25, 2025
Term10 years10 years10 years5 years10 years4.5 years
RateFixed – 8.02%Fixed – 9.22%Fixed – 7.78%Floating – TIIE28 + 89 pbFixed – 9.78%Floating – TIIE28 + 31 pb
CapitalBullet paymentBullet paymentBullet paymentBullet paymentBullet paymentBullet payment
Placement BrokerCasa de Bolsa BBVA Bancomer, S.A. de C.V., Grupo Financiero Bancomer

HSBC Casa de Bolsa, S.A. de C.V., Grupo Financiero HSBC
Casa de Bolsa BBVA Bancomer, S.A. de C.V., Grupo Financiero BancomerCasa de Bolsa BBVA Bancomer, S.A. de C.V., Grupo Financiero BBVA Bancomer

Citibanamex Casa de Bolsa, S.A. de C.V., Casa de Bolsa, integrante de Grupo Financiero Citibanamex
Casa de Bolsa BBVA Bancomer, S.A. de C.V., Grupo Financiero BBVA Bancomer

Herdez – Prospectus (with exhibits) (Spanish only)

Fixed Rate Supplement (HERDEZ 20) (Spanish only)

Variable Rate Supplement – (HERDEZ 20-2) (Spanish only)

Roadshow Herdez 22L and 22-2L presentation

Rating agencyStandard and Poor’sFitch Ratings
Debt instrumentLocal Bonds HERDEZ13, HERDEZ17, HERDEZ20 & HERDEZ20-2, and HERDEZ22L & HERDEZ22-2L
RatingmxAAAA(mex)
OutlookStableStable
Release dateNovember 23, 2022May 05, 2023

Debt rating

  • Herdez 20
  • Herdez 13
  • Herdez 20-2
  • Herdez 22-2L
  • Herdez 17
  • Herdez 22L

Rates Mix

Consolidated figures in millions of mexican pesos. The debt mix includes hedges.

Additional information

200820092010201120122013201420152016201720182019202020212022
DPS (Shares)00030.10040.100000000
Dividend per share0.500.500.750.850.850.850.850.900.900.901.001.11.11.21.2
Payout ratio37%29%41%48%46%60%48%100%54%37%37%44%51%59%59%
Yield4.0%2.9%3.4%3.4%2.1%1.8%2.4%2.0%2.4%2.0%2.4%2.7%3.1%2.8%3.8%

Dividends paid in cash and/or shares only consider shares outstanding, i.e., shares of the repurchase fund are not included.

DPS: dividend per share

Return = Ordinary dividend per share / Closing stock price on ex-dividend date.

2022*: Calculation based on the last 12 months.

Historical Dividends | Dividend Yield

201420152016201720182019202020212022
2.4%2.0%2.4%2.2%2.4%2.7%3.1%2.8%3.8%

Shares outstanding355 M
Treasury Stock19.7 M
EPS* LTM1Q23 vs LTM1Q2234.8%
Dividend payment59%
Dividend yield+3.8%

The main objective of the Buyback Program is to benefit the liquidity of the stock by increasing the volume traded. The Company buys the shares in the market and keeps them in the Treasury.

On April 21, 2022, the Shareholders’ Meeting approved a maximum amount of $2.5 billion pesos to be allocated for the Share Buyback Program and to be spent in the next 12 months.

TERMAMOUNTVOLUME
3Q20$253,888,9796,553,371
4Q20$258,686,3586,549,726
1Q21$132,992,9243,108,129
2Q21$397,820,2878,865,217
3Q21$83,226,3632,031,352
4Q21$143,892,9373,785,930
1Q22$65,429,5992,287,828
2Q22$225,578,3167,885,193
3Q22$129,618,1524,354,002
4Q22$0$0
1Q23$17,880,161416,347
 

2020

  • 2020: We launched the first edition of Semillero Nutrisa. Together with Nutrisa and the Victoria147 business academy for women, we invited women entrepreneurs to participate in a training program to improve the management of their businesses and have the potential to become part of our supply chain.

We established our first technological alliance with Google, which will allow us to accelerate the digital transformation of Grupo Herdez through the use of Google Cloud Platform tools such as BigQuery ML, Looker, among others.

Through the Herdez® brand and Aires de Campo® we joined the “Sowing a New Normality” initiative, promoted by the civil society organizations RĂ­os Tarango and Ectágono, which aims to increase the vegetation cover of the environmentally valuable area Barranca de Tarango.

  • 2021: We developed the Group’s second proprietary e-commerce platform, with the Nutrisa® online store.

We updated the apps through which we manage the loyalty programs of our retail brands, Cielito Querido Café® and Nutrisa®, improving our customers’ in-store experience.

During the year, 15 formulas had their nutritional profile strengthened by reducing some critical added nutrients (sugars, sodium and saturated fats).

  • 2022: We expanded our capabilities into new categories through the acquisition of Interdeli and Deli, Dips & Snacks. Integrating brands such as Libanius, Flaveur, Liguria and Señor Cactus into our portfolio.

We Issued the first sustainability bond through which we
committed to a 25% reduction in our water consumption.

Together with our partner McCormick & Company, Inc. we
brought the most iconic Mexican cuisine to the tables of the United Kingdom
through meal kits, sauces and condiments under the Herdez® brand.
  In less than a year, we obtained a 5.5% shelf
share in the Tesco supermarket chain.

We consolidated the integration of Chilim Balam® into retail brands, a leading brand in the snack segment