The Mexican company Grupo Bimbo registered net sales of 398,706 million pesos in 2022, which represented a record and an increase of 17.7% year-on-year.

Primarily, this result was attributed to a favorable price mix and strong volume performance in all regions.

At the same time, the company‘s operating income grew 64.8% and the margin expanded 390 basis points, reaching 13.5 percent.

Adjusted EBITDA also obtained a record level of 53,455 million pesos, an advance of 12.8%, while the margin contracted 60 basis points to 13.4 percent.

The company successfully completed the acquisition of St. Pierre in the United States and the United Kingdom.

Grupo Bimbo is the leading and largest bakery company in the world and a relevant player in snacks.

Grupo Bimbo

The company has 214 bakeries and other plants and more than 1,600 sales centers located in 34 countries in the Americas, Europe, Asia and Africa.

Among others, its main product lines include box bread, pastries, sweet bread, cupcakes, cookies, toast, English muffins, bagels, tortillas and flatbread, and salty snacks, among others.

Grupo Bimbo manufactures more than 10,000 products and has one of the largest distribution networks in the world, with more than 3.3 million points of sale, more than 55,000 routes and more than 141,000 employees.

North America

Net sales in North America in US dollar terms grew 21.9%, primarily reflecting the implementation of the pricing strategy across all categories and channels.

Additionally, net sales benefited from an additional week of sales compared to the prior year.

In particular, the snacks, Premium and Mainstream bread and sweet bread categories achieved outstanding results, with continued market share gains across multiple categories.

Mexico

Net sales in Mexico increased 17.4%, attributable to the favorable product mix and higher prices.

All channels registered double-digit growth, most notably the convenience, self-service and traditional channels, as well as the categories of snacks, sweet bread, pastries, cookies and bread

Latin America

Fourth quarter net sales grew 16.3% in peso terms; excluding the exchange rate effect, net sales increased 33.4%, mainly due to a favorable price mix and strong volume performance.

Almost all countries recorded double-digit growth in local currency, with Brazil, Colombia, Argentina and Chile standing out.

To a lesser extent, Sales growth was also benefited by the inorganic contribution of the acquisition of Aryzta do Brasil.