Grupo Bimbo Sets Out Mexico-wide Capex Plans

Grupo Bimbo firm logo. Credit: OleksandrShnuryk/Shutterstock.com.

Mexican bakery elephantine Grupo Bimbo plans to make investments worthy much than $2bn crossed 7 states successful its home marketplace done 2028.

Baja California, Yucatán, Mexico City, Nuevo León, Querétaro, Puebla, and nan State of Mexico will use from nan Grupo Bimbo projects, according to a authorities statement, which did not place nan circumstantial plants operated by nan institution to person nan investments.

The programme will make much than 2,000 nonstop jobs and 10,800 indirect jobs, nan authorities said.

Under nan government’s Plan Mexico initiative, José Manuel González Guzmán, nan president of Grupo Bimbo’s operations successful Mexico, outlined successful nan aforesaid connection really nan finance “aims to summation nan productive and technological capacity of its various plants, modernise its fleet of electrical transportation vehicles, [and] beforehand nan information system pinch sustainable packaging”.

Ximena Escobedo Juárez, caput of nan Productive Development Unit and nan Office of nan Ministry of Economy, listed nan municipalities successful Mexico that will use from nan investments.

They are: Mexicali and Tijuana successful Baja California; Mérida successful Yucatán; Azcapotzalco successful Mexico City; Salinas Victoria successful Nuevo León; El Marqués successful Querétaro; nan superior of Puebla; and Toluca and Lerma successful nan State of Mexico.

Meanwhile, Reuters’ coverage of nan finance programme past week besides included comments from González connected US tariffs, made during a property convention by Mexico President Claudia Sheinbaum.

“We judge that we will not beryllium affected if immoderate tariffs are imposed by nan US,” González was quoted arsenic saying by nan news agency.

Elsewhere, Grupo Bimbo has been expanding done M&A. It struck an acquisition for packaged breads supplier Karamolegos Bakery Romania, based successful Ilfov, Bucharest, earlier this year.

And precocious past year, it snapped up Slovenia bakery business Don Don. The institution besides struck an acquisition successful Brazil past September for nan bakery group Wickbold.

Posting its first-quarter results successful April, Grupo Bimbo said nett income reached a “record” of 103.7bn pesos ($5.5bn), aliases 10.8% maturation year-on-year.

In Mexico, Q1 income roseate 1.7% to 38bn pesos.

Group operating income dropped 1.8% to 6.5bn pesos, while adjusted EBITDA roseate 8% to 12.8bn pesos. Net income declined 26.6% to 1.7bn pesos.

It was a mixed container of results for nan 2024 fiscal year. Net income roseate 2.1% to 408.3bn pesos, while operating income decreased 6.5% to 33.1bn pesos.

Adjusted EBITDA climbed 1% to 55.4bn pesos but nett income retreated 18.9% to 12.5bn pesos.