Grupo Herdez Announces Consolidated Earnings Results for the Third Quarter of 2016
October 21, 2016 at 12:00 pm EDT
Share
Grupo Herdez announced consolidated earnings results for the third quarter of 2016. The company combined with the gross margin pressure, resulted in a 6.8% decline in EBIT this quarter with a 2.1% point decline in the margin year-over-year. Total sales and EBITDA margin would reach the upper range of guidance. Consolidated free cash flow for the year will be close to MXN 200 million as CapEx and working capital require MXN 1.4 billion.
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. 
