Grupo Herdez B de C : First Quarter 2023 Earnings Release
April 19, 2023 at 08:34 pm EDT
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General/ By Juan Antonio Hernández
Mexico City, Mexico, February 22, 2023 - Grupo Herdez, S.A.B. de C.V.("Grupo Herdez" or the "Company") (MSE: HERDEZ) today announced results for the first quarter and full year ended December 31, 2022.
"The year 2023 begins with better expectations for our margins. Preserves, Impulse and MegaMex businesses show significant improvement compared to the previous year, which makes us optimistic about the coming months, especially considering that inflationary pressure is easing", said Héctor HernándezPons Torres, Chairman and Chief Executive Officer of Grupo Herdez.
CONSOLIDATED HIGHLIGHTS FOR THE QUARTER
FIRST QUARTERRESULTS
1Q2023
%
1Q2022
%
% cambio
Net Sales
8,910
100.0
7,108
100.0
21.4
Gross Profit
3,138
36.4
2,569
36.2
22.1
EBIT
1,046
12.1
835
11.7
25.2
Consolidated Net Income
797
9.2
464
6.5
71.8
EBITDA
1,316
15.2
1,076
15.1
22.3
Figures in millions of MXN.
*EBITDA= Earnings Before Interest Taxes Depreciation and Amortization
Grupo Herdez SAB de CV published this content on 19 April 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 April 2023 00:33:07 UTC.
Grupo Herdez SAB de CV is a Mexico-based company engaged in the food processing sector. The Company's activities are divided into two business segments: Food and Frozen. The Food division focuses on the manufacture and distribution of canned and packed food products in Mexico and the United States. Its offer includes burritos, canned vegetables, guacamole, home-style salsa, honey, jam, ketchup, mayonnaise, mole, mustard, organic food, pasta, spices, tea, tomato puree and tuna, among others. It sells products through a number of brand names, such as Aires de Campo, Barilla, Bufalo, Chi-Chi's, Del Fuerte, Don Miguel, Dona Maria, Embasa, Herdez, La Victoria, McCormick, Wholly Guacamole and Yemina. In addition, it has distribution agreements in Mexico for GoGoSqueez, Kikkoman, Ocean Spray, Reynolds and Truvia products. The Frozen division is responsible for the manufacture and distribution of frozen yogurts and ice creams under the Nutrisa and Helados Nestle brand names.
GRUPO HERDEZ, S.A.B. DE C.V. 
