Mexico City, Mexico, October 27, 2022 – BECLE, S.A.B. de C.V. (“Cuervo”, “Becle” or the “Company”) (BMV: CUERVO) announced today financial results for the third quarter ended September 30, 2022.
All figures in this release are derived from the Company’s interim consolidated financial statements as of September 30, 2022, and for the nine-month period then ended, which are prepared in accordance with International Financial Reporting Standard (IFRS).
Third Quarter 2022 highlights
- Volume increased 5.0% to 6.8 million nine-liter cases;
- Net sales increased 20.2% to P$11,527 million pesos;
- Gross profit increased 22.8% to P$6,231 million pesos. Gross margin was 54.1%, an increase of 1.2 percentage points year over year;
- EBITDA increased 33.3% to P$2,814 million pesos. EBITDA margin was 24.4%, an increase of 2.4 percentage points year over year;
- Consolidated net income increased 29.3% to P$1,720 million pesos. Net margin was 14.9%, an increase of 1.0 percentage point year over year and;
- Earnings per share (“EPS”) was P$0.48 pesos.
All aforementioned increases and decreases are in comparison to the corresponding period from last year.
Management commentary
“We have been able to deliver strong results in a quarter still characterized by industry wide supply chain constraints and inflationary cost pressures. As a result of these macroeconomic challenges, we are closely monitoring any change in consumer behavior, however, as of today, we continue to see very favorable trends for our brands and categories overall, as people are drinking better, and younger age groups and new demographics are coming into play.”
Third Quarter 2022 Unaudited Financial Results Conference Call and Webcast Details
Date: Friday, October 28th, 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
Corporate Affairs:
Alfredo López