Grupo Bimbo reports strong revenue growth

Despite the difficult circumstances, some companies are seeing growth across all international markets.

One example is the Mexican bakery giant Bimbo, which in the first quarter of 2020 reported 7% sales growth to 74.4 billion pesos ($3.05 billion) and 11.4% growth in EBITDA (8.8 billion pesos).

This result was driven by strong demand for baked goods during the lockdown, especially in the last two weeks of March. While domestic sales rose by 6.2% (27.2 billion pesos), the group posted strong results all over the world, including North America (+9.8% to 36 billion pesos), Latin America (+3.8% to 6.9 billion pesos), Europe, Asia and Africa (+1.8% to 6.58 billion pesos).

“The surge in demand has required our plants and distribution routes to operate at full capacity. None of this would have been possible without the hard work of our 134,000 employees,” said Bimbo president and CEO Daniel Sertvitje. “Our company has a great responsibility to feed people all over the world, so we are determined to successfully overcome this major challenge.”