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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.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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