Bimbo cut its investment estimate for this year to between 1,300 and 1,400 million dollars, from the 1,500 million it announced in February, when it announced that the resources would focus on infrastructure projects. Half of the motorcycle would be invested in Mexico.
“This does not mean that we will cancel any projects … we will continue to be committed to increasing our capacity, given the continued demand for our products. So our volumes and sales continue to exceed our expectations,” said Diego Gaxiola, the company’s director of Finance, during a meeting with analysts.
Although the bakery managed to record record sales and profits in the second quarter , its directors envision a challenging outlook due to inflation. The rise in raw materials remains a challenge for the company.
“Despite the inflation scenario, we continue to see a strong 2022, and as our sales and volume continue to exceed our expectations, and with our raw material needs fully covered, this gives us the possibility and confidence that we will be able to reach our objectives. ”, said Daniel Servitje, president of the company.
The company achieved record sales of 96,434 million pesos in the second quarter of the year, an increase of 18% compared to the same period last year.
The majority net profit of the firm doubled (103%) from 3,028 million pesos to 6,146 million pesos in the second quarter of 2022. Regarding the operating flow (EBITDA), it registered an increase of 12.5% to 12,992 million pesos.
Despite the favorable results, the EBITDA margin, which measures the company’s ability to generate profits, fell 60 basis points, due to the increase in costs due to the rise in the prices of raw materials and due to a higher inflationary environment.
The company has resorted to a pricing strategy to protect its profitability. A final adjustment was made on June 18, when among them were wholemeal, zero and flaxseed bread. These products rose around five pesos, while sweets rose between two and three pesos.
