Mexico City, Mexico, April 22, 2021 – Grupo Herdez, S.A.B. DE C.V. (“Grupo Herdez” or the “Company”) (MSE: HERDEZ) today announced results for the first quarter 2021, ended March 31, 2021.
“We are proud of the organic growth achieved in the quarter. On the other hand, we are optimistic about the quarter-over-quarter performance of our Frozen segment, despite the challenging circumstances we are still facing,”Said Héctor Hernández-Pons Torres, Chairman and Chief Executive Officer of Grupo Herdez
HIGHLIGHTS FOR THE QUARTER
▪ Net sales increased by 1.7%, and on a comparable basis 7.7% with respect to the same quarter of the previous year, driven mainly by price increases in the Preserves segment.
▪ EBIT before other income and expenses fell 4.2% to MXN 638 million, while the margin stood at 10.9%, 0.7 percentage points below that recorded in 2020, which is mainly explained by lower sales in the Frozen segment.
▪ Net income totaled MXN 542 million, 18.7% lower than the previous year due to the extraordinary income from the sale of three tuna vessels recorded in 2020.