“Gruma, la empresa líder a nivel mundial en la producción de harina de maíz, tortillas y wraps, dio a conocer hoy su reporte de resultados durante el primer trimestre de 2019.”.

• Net sales were MXN 18.579 billion, and operating profit stood at MXN 2.049 billion in Q119
  
  
• EBITDA was MXN 2.871 billion, while EBITDA margins stood at 15.5%.
  
  
• Net sales and EBITDA of operations outside of Mexico represented 73% and 83% of the company’s consolidated figures, respectively.
  
  
• In Q119 the company invested USD 30 million (equivalent to MXN 570 million) mainly in plants in Dallas, Texas, and Puebla, Mexico.

Mexico City, April 24, 2019 — Gruma, the world’s leading producer of corn flour, tortillas, and wraps, posted First Quarter 2019 (Q119) results today. Notably, sales volume, net sales, and EDITDA are all up. 

At the close of Q119, Sales Volume increased by 1% over the same quarter in 2018, from 971,000 metric tons to 985,000 metric tons. The growth in sales volume was driven primarily by the company’s subsidiaries in Europe, the United States, and Central America.

Net sales increased 6% compared to Q118 to stand at MXN 18.579 billion. This increase was driven by improved sales volume, higher average prices in the United States and Mexico, and the strength of the dollar against the peso.

Sales from operations outside of Mexico accounted for 73% of total sales in Q119.

Cost of Sales as a percentage of the company’s net sales increased from 62.9% to 63.4%, driven by Gruma United States, Gruma Central America, and other subsidiaries. In absolute terms, cost of sales increased by 7% to MXN 11.780 billion, due to the depreciation of the peso against the dollar and rising costs of supplies, particularly in the United States and Mexico.

The company’s EBITDA was up 7% year-over-year to stand at MXN 2.871 billion in Q119. The EBITDA margin improved from 15.4% to 15.5%.

Gruma’s reported Net Profit for the period was MXN 1.029 billion and a Majority Net Profit of MXN 1.029 billion for the period. Operating Profit stands at MXN 2.049 billion.

In Q119, the company invested USD 30 million in capital investments (equivalent to MXN 570 million) as follows:

1)    New production lines in the tortilla plant in Dallas, Texas.

2)    Building a tortilla plant in Puebla, Mexico.

3)    Three new corn silos in GIMSA plants.

4)    Increased capacity in the tortilla plant in Florida.

5)    General maintenance and technology updates.

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