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Grupo Bimbo (BIMBOA) investor relations material

Grupo Bimbo Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 earnings summary28 Oct, 2025

Executive summary

  • Achieved growth in both sales and EBITDA in Q3, with improved sequential volume trends driven by disciplined pricing, operational efficiencies, and strong geographic diversification.

  • Maintained or gained market share in five of six categories, with North America returning to double-digit EBITDA margin and Mexico achieving record sales despite soft consumption.

  • Recent acquisitions and inorganic growth initiatives have been highly accretive, reinforcing the strategic roadmap and supporting sustainable, profitable growth.

Financial highlights

  • Net Sales reached a record Ps. 107,421 million, up 1.2% year-over-year, mainly from growth in Latin America, EAA, and recent acquisitions.

  • Adjusted EBITDA totaled Ps. 15,776 million, up 0.8%, with margin steady at 14.7%, the highest for a third quarter.

  • North America posted three consecutive quarters of sequential margin improvements, returning to double-digit EBITDA margin.

  • Mexico delivered sales growth of 0.3% year-over-year, maintaining EBITDA margins above 20% despite a tough comparison.

  • Net Majority Income declined 9% to Ps. 3,364 million, with margin contracting 40 bps to 3.1%, mainly due to higher financing costs and tax rate.

Outlook and guidance

  • Guidance for mid-single-digit top-line growth and flat to slightly contracting EBITDA margin remains unchanged despite FX headwinds.

  • Leverage outlook improved, expecting to end the year at 2.9x net debt/EBITDA, including the Wickbold acquisition.

  • Transformation initiatives and recent acquisitions expected to continue driving operational efficiencies and margin improvements.

  • Transformation project is a multi-year journey, with top-line impact expected to build through 2026 and beyond.

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Frequently asked questions

Grupo Bimbo S.A.B. de C.V. produces and distributes baked goods, snacks, and related food products. Its brands include breads, cakes, cookies, and tortillas sold across the Americas, Europe, Asia, and Africa. The company is headquartered in Mexico City, Mexico, and its shares are listed on the BMV.

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