Grupo Bafar Reports Second Quarter Results 2024
2024年7月23日 - 1:13AM
Grupo Bafar, S.A.B de C.V. (BIVA: BAFARB), a nationally recognized
leader in the food sector, has announced its results for the second
quarter of 2024, highlighting solid growth in its main divisions.
Second Quarter 2024 Results
- Net sales were
$6,864.8 million pesos.
- Gross profit
increased 18.9% with a margin of 32.5%.
- Operating income
increased 13.4%, and EBITDA increased 16.2%.
During the second quarter of 2024, Grupo Bafar
reaffirms its position as one of the leading food companies in
Mexico. The company stands out in this period thanks to its solid
and steady growth in financial margins and operating results,
evidencing sound and strategic management. These achievements not
only underscore Grupo Bafar's ability to adapt to market
challenges, but also highlight its ongoing commitment to excellence
and innovation in the food sector.
The company's food division recorded revenues of
$6.597 billion pesos, a 7% increase over last year. The division
continues to promote digitalization and modernization projects to
make processes more efficient. The division also achieved SQF for
Animal Product Manufacturing Edition 9 recertification at the
Intergan Foods plant, and the ceremony for the new Bafar Alimentos
Distribution and Logistics Center in El Paso, Texas, was held.
The real estate division represented by FIBRA
NOVA had an increase in revenues of 20.4% reaching $307 million
pesos. During the quarter, a 10-year lease agreement was signed
with Brake Parts Inc. for a 312,540 sq. ft. industrial building
located in the Bafar Industrial Park in Ciudad Juarez, and also
with ATI Inc. for another 10 years for a 248,210 sq. ft. building
in the Bafar North Park in the city of Chihuahua.
The financial division recorded a 10.9% increase
in revenues while loan placements reached $2,374.1 million pesos so
far this year. The default rate is 3.20%. The B-Cash application,
which has proven to be a complete success due to the number of
registered users in its first month of operation, continues to
expand its pilot test reaching more and more customers.
The financial results for the second quarter of
2024 confirm Grupo Bafar's solid financial position, which allowed
it to make strategic investments of close to $1,537.4 million
pesos. These investments were mainly allocated to projects in the
real estate division, and to remodeling distribution centers and
stores in the food division, as well as to digitalization projects
and the new pepperoni line at La Piedad plant.
These results are a reflection of the important
changes that have been implemented in all the Group's businesses to
adapt to market conditions and that give certainty to the solid
pillars on which Grupo Bafar was built and that lay the foundations
for the future of the consolidated company.
Eugenio Baeza Fares, Chairman of the Board of Grupo
Bafar, expressed his satisfaction with the results
obtained in the second quarter of 2024: "The second quarter has
been a period of challenges that we have turned into opportunities
to reaffirm our strengths. Thanks to our solid strategies and the
dedication of our team, we have been able to maintain steady
growth. Our history of success in times of adversity drives us to
innovate and find ways to be more efficient and strengthen our
competitive position," said Baeza Fares.
For more information:
Luis Carlos Piñón Reza
lpinon@bafar.com.mx
ir@bafar.com.mx
https://inversionistas.grupobafar.com/reportes-trimestrales-3/