Grupo Bimbo’s net sales grew by 7.4% in the third quarter, reaching Ps.106,046 million. Mexico recorded strong volume performance and an Adjusted EBITDA margin of nearly 22%. The EAA region reached record levels of net sales and an Adjusted EBITDA margin of 10%, according to financial results for the three months ending on September 30, 2024.

In the third quarter, Grupo Bimbo signed an agreement to acquire Don Don, a leading player in the baking industry in Southeast Europe, which is present in Serbia, Slovenia, Croatia and Montenegro, and exports to several countries. With this acquisition, which is currently subject to approvals, Grupo Bimbo will expand its geographic presence to 39 countries.

The company also entered into an agreement to acquire Wickbold, a player in the baking industry in Brazil, and concluded the acquisition of Pagnifique in Uruguay, a recognized player in the high-quality frozen bread market.

For the second consecutive year, Grupo Bimbo appeared in the list of the “World’s Best Companies” by Time’s magazine, standing out for being part of the top 10 within the global food category. And for the first time, Forbes magazine recognized the Company as one of the World’s Best Employers in 2024.

“These third quarter results continue to demonstrate the strength of our business, showcasing our diverse geographies and categories, as well as the exceptional execution by our teams. Overall, our volumes showed positive growth, and our Net Sales increased 7.4%. In Mexico, we achieved strong results thanks to significant volume growth exceeding the mix effect, allowing us to reach an EBITDA margin of nearly 22%. We also saw remarkable results in EAA, where we attained the highest EBITDA margin ever at 10%. And our Latam region began to show signs of recovery, despite ongoing challenges, with improving trends in Colombia and Chile, and resilience in Argentina. These successes helped offset the difficult environment in North America, where, while we observed improvements compared to the first half of the year, consumption trends remain soft. Collectively, all the mentioned results contributed to a record Adjusted EBITDA margin for a third quarter at 14.7%,” said Rafael Pamias, CEO.

“This quarter’s results were good and a perfect example of the benefits of being a well-diversified company not only in terms of categories and channels, but also in terms of currencies. We achieved an all-time high in Sales, a favorable mix evolution, and we continue to benefit from lower commodity prices and the acquisitions made in the past, resulting in a record Adjusted EBITDA margin for a third quarter,” Diego Gaxiola, CFO, also commented.

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