Mexico City, Mexico, July 28, 2022 / — BECLE, S.A.B. de C.V. (“Cuervo”, “Becle” or the “Company”) (BMV: CUERVO) announced today its financial results for the second quarter ended June 30, 2022.
All figures in this release are derived from the Company’s interim consolidated financial statements as of June 30, 2022, and for the three-month period then ended, which are prepared in accordance with International Financial Reporting Standards (IFRS).
Second Quarter 2022 highlights
- Volume increased 11.4% to 7.1 million nine-liter cases;
- Net sales increased 18.9% to P$11,334 million pesos;
- Gross profit increased 17.1% to P$5,937 million pesos. Gross margin was 52.4%, a decrease of 0.8 percentage points year over year;
- EBITDA increased 43.7% to P$2,343 million pesos. EBITDA margin was 20.7%, an increase of 3.6 percentage points year over year;
- Consolidated net income increased 58.0% to P$1,410 million pesos. Net margin was 12.4%, an increase of 3.0 percentage points year over year and;
- Earnings per share (“EPS”) was P$0.39 pesos.
All abovementioned increases and decreases are in comparison to the corresponding period from last year.
Management commentary
“We delivered strong second quarter net sales growth of 18.9% on volume growth of 11.4%. Despite continuing industry wide supply chain constraints, Tequila growth was robust across our family of brands. Even though the global environment remains volatile, with a difficult macro and inflationary backdrop, we continue to anticipate favorable trends across our portfolio and geographical regions as a result of the on-premise rebounds, off-premise resilience and our ongoing premiumization efforts.”
Second Quarter 2022 Unaudited Financial Results Conference Call and Webcast Details
Date: Friday, July 29, 2022
Time: 9:00 a.m. Mexico City Time (10:00 a.m. EDT)
Participants: Juan Domingo Beckmann (CEO), Fernando Suárez (CFO)
Dial-in:
Mexico: +52 55 1168 9973
Brazil: +55 61 2017 1549
USA: +1 718 866 4614
Canada: +1 587 855 1318
United Kingdom: +44 203 984 9844
France: +33 1758 50 878
Germany: +49 30 25 555 323
Conference ID: 623996
Webcast:
https://mm.closir.com/slides?id=623996 or www.becle.com.mx.
Miranda Newswire – Full Press Release: Download PDF
Contact:
Investor Relations:
Bryan Carlson
Sebastián Castillo
Investor Relations
Corporate Affairs:
Alfredo López alopez@cuervo.com.mx