Sigma Foods (SIGMAF) Q4 2025 earnings summary

Executive summary

• Record 2025 revenues surpassed $9.273 billion, with EBITDA reaching $1 billion and double-digit ROIC sustained in a dynamic macro environment.

• Strong performance was driven by diversified operations, selective price actions, and favorable FX, with Mexico and Europe leading growth.

• Strategic focus on operational excellence, brand innovation, capacity expansion, and future-oriented innovation.

• Completed the spin-off of Alpek, now reported as discontinued operations, and rebranded as Sigma Foods with new ticker and logo.

Financial highlights

• 4Q25 revenues reached $2.5 billion, up 13% year-over-year and 2% sequentially; full-year revenues up 4%.

• 4Q25 EBITDA was $278 million; comparable EBITDA was $284 million, up 34% year-over-year.

• Net income in 4Q25 was $177 million, with full-year net income at $462 million, up from $52 million in 2024.

• CapEx totaled $362 million for 2025, up 47% from 2024, reflecting capacity expansions and modernization.

• Net Debt ended at $2.705 billion, Net Debt/EBITDA at 2.5x, and total liquidity at $1.5 billion.

Outlook and guidance

• 2026 guidance projects 4% revenue growth, 5–10% EBITDA growth, and 2% volume growth, with all regions contributing and double-digit growth in Europe.

• CapEx for 2026 projected at $460 million, up 27%, mainly for capacity replacement in Spain and expansions in Mexico and the U.S.

• Dividend proposal of $150 million for 2026, maintaining a 2.5x Net Debt/EBITDA target.