Kimberly-Clark de México (KIMBERA) Q4 2023 earnings summary

Executive summary

• Q4 net sales rose 5% YoY to Ps. $13,371 million; EBITDA increased 25% to Ps. $3,710 million and net income rose 36% to Ps. $1,930 million.

• FY net sales increased 4% to Ps. $53,307 million; EBITDA grew 28% to Ps. $13,917 million and net income rose 42% to Ps. $7,013 million.

Financial highlights

• Q4 gross profit rose 23% to Ps. $5,451 million, with gross margin of 40.8%; operating profit increased 26% to Ps. $3,177 million.

• Q4 net income increased 36% to Ps. $1,930 million; EPS was Ps. $0.63.

• FY gross profit rose 23% to Ps. $20,700 million; operating profit increased 33% to Ps. $11,932 million; EPS was Ps. $2.28.

• In US dollars and under US GAAP, Q4 sales rose 17%, operating profit 41% and net income 56%; FY sales grew 18% to US$3.0 billion, operating profit 50% and net income 63%.

Outlook and guidance

• Strong innovation pipeline expected to support brands; capital spending remains on plan to improve the manufacturing footprint.

• Converting-footprint investments target greater productivity and streamlined logistics operations.