Grupo Bimbo doubled its net attributable profit in the second quarter of the year, with a figure above 100 million dollars, after increasing its net sales by 19.9%, compared to the same quarter of the previous year, as reported in a statement.
The company registered significant increases in all its markets except Mexico, where sales fell 1.2%. In North America, revenues increased 36.4%, while Latin America turnover grew 13.3%. On their side, Europe and Asia increased their sales by 10.4%.
“I am very proud of the exceptional results of the quarter, now more than ever I see the great benefit of being a global company with broad diversification”, said Grupo Bimbo CEO Daniel Servitje.
The gross operating profit (Ebitda) of the baking company grew by 29.2% between March and June. During the second quarter, Bimbo completed the acquisition of Cerealto Siro Foods’ Paterna (Valencia) plant, where it produces salted bread and pastries for Mercadona under the Hacendado brand and with which it intends to strengthen its presence in Spain
On the other hand, the company paid $ 200 million of a bond maturing in June this year, in addition to prepaying $ 400 million of its revolving line of credit.
K. Tovar
Source: dpa
