Mexico City, Mexico, April 23, 2020 – Grupo Herdez, S.A.B. DE C.V. (“Grupo Herdez” or the “Company”) (MSE: HERDEZ) today announced results for the first quarter 2020, ended March 31, 2020.
“In the context of the current global and local health crisis, we have taken safety measures along the entire value chain to protect the health of our associates, to guarantee the availability of our products, and to support our commercial partners and suppliers. I want to thank everyone who is part of Grupo Herdez, including our allies in our value chain for their commitment and hard work ensuring that our products are available to all Mexicans,”Said Héctor Hernández-Pons Torres, Chairman and Chief Executive Officer of Grupo Herdez.
CONSOLIDATED HIGHLIGHTS FOR THE QUARTER
- Net sales increased 10.4% to MXN 5.7 billion, driven by the Preserves segment.
- EBIT and EBITDA margins increased 2.7 and 2.4 percentage points, to 14.9% and 18.3%, respectively, explained by extraordinary income from the sale of three tuna vessels.
- Consolidated net income grew 28.8% over last year, to MXN 666 million.