Grupo Bimbo (BIMBOA) Q4 2025 earnings summary

Executive summary

• Achieved record financial results in 2025, celebrating the 80th anniversary with historic highs in Net Sales and Adjusted EBITDA, global expansion to 93 countries, and recognition as one of the Most Ethical Companies for the 9th year.

• Completed leadership transition with Alejandro Rodríguez Bas appointed CEO effective November 2025, and continued focus on culture, sustainability, and disciplined execution.

• Advanced ESG commitments, achieving 98% positive nutrition in core portfolio, 99% recyclable packaging, and 100% reuse of treated water.

Financial highlights

• Achieved record Net Sales of US $22.3Bn (Ps. 426,952 million), up 4.6% year-over-year, and Adjusted EBITDA of US $3.1Bn (Ps. 59,456 million), up 7.2%, with margin expanding 30 bps to 13.9%.

• Mexico delivered 4.8% sales growth and a record Adjusted EBITDA margin of 22% in Q4; North America margin rose 60 bps to 9%; EAA margin at 13.8%.

• Latin America net sales grew 15.4% (ex-FX), with margin contraction due to integration costs from the Wickbold acquisition.

• Capex investments totaled US $1.2Bn; total debt closed at Ps. 154 billion (US $8.55Bn); net debt to Adjusted EBITDA improved to 2.7x.

Outlook and guidance

• For 2026, expect low to mid-single-digit sales growth in local currency, but flat net sales in peso terms due to expected MXN appreciation; slight Adjusted EBITDA margin expansion and CapEx of US $1.2–1.4Bn.

• FX volatility, especially MXN appreciation, expected to impact reported sales by over 500 bps in 2026.

• North America expected to see gradual consumer environment improvement and continued margin recovery; Latin America margins to improve post-integration.