Canavati
“Despite persistent inflation, we achieved good performance in all segments, maintained reasonable operating margins and generated working capital efficiencies,” Héctor Hernández-Pons Torres, president and CEO of Grupo Herdez.
Regarding capital investments, the company will make a disbursement of 1,300 million pesos and announced that a new operation is coming, which will be announced in the coming weeks. The company announced that it will be a percentage of less than 5% of its assets and will not mean a significant movement for what was planned in 2023.
In the financial report they mentioned that net sales in the canned segment amounted to 6,342 million pesos, 18.5% more than in the same quarter of 2021. In the accumulated, sales grew 21.1%, reaching 17,941 million pesos. In the quarter, the performance of vegetables, mayonnaise, homemade sauces and pasta stood out.
On the other hand, net export sales in the quarter were 561 million, while in the accumulated, they totaled 1,762 million. The foregoing represents increases of 8.4% and 27.8%, respectively, mainly benefited by the higher sales volume of homemade sauces and mole.
The Herdez manager highlighted that despite the inflationary environment, they gained market share in half of the categories of the canned portfolio, which during the third quarter of 2022 rose 18.5% in sales, with a value of 6,342 million pesos.
“We continue to grapple with persistent supply chain constraints and the highest levels of commodity inflation in decades. However, we remain focused on what is under market execution control, such as discipline in managing expenses and working capital,” added Canavati.
In the results guide for the end of 2022, the company reiterated that its growth in sales will be 20%, while for the EBITDA (operating flow, for its acronym in English) it is expected that it could end below 20%. In the first nine months of the year, the company recorded a 22% rise in revenues and an EBITDA increase of 30.5%.
“Despite persistent inflation, we achieved good performance in all segments, maintained reasonable operating margins and generated working capital efficiencies,” Héctor Hernández-Pons Torres, president and CEO of Grupo Herdez.
Regarding capital investments, the company will make a disbursement of 1,300 million pesos and announced that a new operation is coming, which will be announced in the coming weeks. The company announced that it will be a percentage of less than 5% of its assets and will not mean a significant movement for what was planned in 2023.