Grupo Herdez, S.A.B. De C.V. Reports Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2016
February 22, 2017
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Grupo Herdez, S.A.B. de C.V. reported consolidated earnings results for the fourth quarter and year ended December 31, 2016. For the quarter, the company reported net sales of MXN 4,879 million against MXN 4,444 million a year ago. EBIT before other income and expenses totaled MXN 657 million against MXN 608 million a year ago. EBIT was MXN 690 million against MXN 138 million a year ago. Income before income taxes was MXN 724 million against MXN 135 million a year ago. Consolidated net income was MXN 434 million against MXN 20 million a year ago. EBITDA was MXN 799 million against MXN 690 million a year ago. Net CAPEX in the quarter was MXN 370 million.
For the year, the company reported net sales of MXN 18,180 million against MXN 16,356 million a year ago. EBIT before other income and expenses totaled MXN 2,307 million against MXN 2,488 million a year ago. EBIT was MXN 2,363 million against MXN 2,036 million a year ago. Income before income taxes was MXN 2,497 million against MXN 2,019 million a year ago. Consolidated net income was MXN 1,593 million against MXN 1,293 million a year ago. EBITDA was MXN 2,816 million against MXN 2,887 million a year ago. Net capex in the quarter was MXN 962 million. The majority of these funds were allocated to the new tuna vessel, ongoing expansion of the distribution center in Sinaloa, and new freezers and stores for Helados Nestlé and Nutrisa, respectively. Net CAPEX was MXN 872 million for the full year.
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. 
