The Mexican Bimbo groupone of the largest bakeries in the world, reported this Tuesday that its net profits were 15,916 million pesos (784.2 million dollars) in 2021, 74.7% more than the result of 2020. “2021 was an exceptional year for Grupo Bimbo, we reached record levels of sales, volume and profit while transforming the business in a complex operating environment. Our capital investments also reached a record level, given the opportunities we are seeing in our markets and categories “, said Daniel Servitje, Chairman of the Board and General Director of Grupo Bimbo, and collects the report.
In its financial report, Bimbo pointed out that sales reached 348,887 million pesos (17,189.8 million dollars), with an increase of 5.4% compared to 2020. In addition, gross profits in 2021 were 185,313 million pesos. pesos (9,130.4 million dollars), 3.9% more than in 2020, while operating profits grew by 34.3% to 34,126 million pesos (1,681.4 million dollars). Earnings before financial income, taxes, depreciation and amortization (Ebitda) were 49,178 million pesos (about 2,423 million dollars), an increase of 8.8% compared to 2020 earnings.
As of December 31, 2021, Bimbo accumulated a total debt of 92,855 million pesos (4,575 million dollars) compared to the 85,229 million pesos (4,177 million dollars) that it had at the end of 2020. “The increase was explained by investments in capital, financing for acquisitions, as well as the return to shareholders,” the company detailed in the report. Grupo Bimbo recalled that in 2021 it “successfully” completed six strategic acquisitions: two in the United States, two in India, one in Spain and one in Brazil.
Fourth trimester
In the fourth quarter of 2021, Bimbo detailed that its net profits increased by 66.9% compared to the same period in 2020 to stand at 4,824 million pesos (237.7 million dollars). In the October-December period, sales reached 97,445 million pesos (4,801.2 million dollars), with an increase of 14.9% compared to the fourth quarter of 2020. Gross profits in the fourth quarter of 2021 were 50,903 million pesos (2,508 million dollars), 11.7% more than in the fourth quarter of 2020. While operating profits they grew by 17.4% to 9,998 million pesos (492.6 million dollars). Finally, Ebitda was 13,516 million pesos (about 666 million dollars) in the last quarter of last year, with an increase of 5.8% compared to the same period in 2020.