Mexico City, Mexico, October 25, 2018 – Grupo Herdez, S.A.B. DE C.V. (“Grupo Herdez” or the “Company”) (MSE: HERDEZ) today announced results for the third quarter ending September 30, 2018.
“Our portfolio maintained a solid market share in the third quarter despite lower than expected consumer trends. Our commercial execution combined with our financial strength have allowed us to capitalize on opportunities that will continue to generate value for the business,”Said Héctor Hernández-Pons Torres, Chairman and Chief Executive Officer of Grupo Herdez.
HIGHLIGHTS FOR THE QUARTER
- Consolidated net sales increased by 8.1 percent to MXN 5,204 million driven mainly by volume growth in Preserves and Helados Nestlé.
- Consolidated EBIT and EBITDA margins were 12.9 and 15.4 percent, respectively.
- Majority net income totaled MXN 241 million, 40.3 percent higher than the same quarter in 2017 due to MegaMex, with a margin growth of 1.0 percentage point to 4.6 percent.