Grupo Bafar Reports Fourth Quarter and Full Year 2022

CHIHUAHUA, México, Feb. 23, 2023 (GLOBE NEWSWIRE) -- Grupo Bafar, S.A.B de C.V. (BMV: BAFARB) recognized as one of the main companies in Mexico within the food business, with an important participation in various sectors, such as agroindustrial, finance, and real estate, has announced its results for the full year of 2022.

FY 2022 HIGHLIGHTS

  • Net sales increased 19.9%.
  • Volume sales increased 11.4%.
  • EBITDA increased 13.1%.
  • Investments during the year of more than MXN $3,470 million (US $179 million)
  • Revenues from the real estate division increased by 45.6%, characterized by being a historic year as it surpassed the one billion pesos mark in revenues.
  • Issue of credit in the financial division continues to rise. In 2022, the issue of credit registered 5 years ago was doubled and an increase of 49.5% in revenue was recorded.

Revenues for the full year amounted MXN $24,824 million (US $1,282 million), achieving an increase of 19.9% ​​compared to MXN $20,697 million (US $1,069 million) in 2021. The growth in sales was driven by a significant increase of 11.4% in sales volume in the food division. This increase is mainly derived from the strengthening of brands and the execution of expansion plans in Mexico. Regarding the US market, the performance registered in 2022 allows to continue with the expansion plan of Bafar Alimentos, where new investments are planned for 2023 that will position the company with the capacity to continue expanding its participation in the United States.

For the real estate division, represented by FIBRA NOVA (BMV: FNOVA17), 2022 was a historic year as it surpassed the one billion pesos mark in revenue. Total revenues amounted to MXN $1,005 million (US $50,091 million) presenting an increase of 45.6% over the previous year. The growth is derived from the expansion in the leasing of industrial buildings in the north of the Mexico, where the effect generated by nearshoring leaves the real estate division positioned to take advantage of the demand for industrial spaces in the coming year.

The financial division increased its income by 49.5%, derived from the growth in the issue of business loans and the increase in reference rates. The issue of credit continues with an upward trend; At the end of the year, total credit issued was located at MXN $3,978 million (US $205 million), managing to double the credit issued 5 years ago.

The current results are accompanied by a solid financial position and a flow generation capacity that allowed investments of more than MXN $3,470 million (US 179 million) in 2022, which were mainly destined to the expansion of the real estate portfolio, but also to the increase in sales, logistics and production capabilities of the food division that will support expansion plans in Mexico, as well as in the United States.

Consolidated ResultsMXN USD Var %
In thousands20212022 20212022 
        
        
Net Sales20,697,31224,823,946 1,068,9931,282,129 19.9%
Operating Income2,345,5752,599,796 121,146134,277 10.8%
Operating Margin11.3%10.5% 11.3%10.5%  
EBITDA2,854,7423,228,678 147,444166,758 13.1%
EBITDA Margin13.8%13.0% 13.8%13.0%  
Net Income1,458,0032,609,831 75,304134,795 79.0%
Net Margin7.0%10.5% 7.0%10.5%  
        
*Exchange rate of $19.3615 per USD $1.0, which corresponds to the rate at the close of December 31, 2022, according to Mexico’s National Bank.

Eugenio Baeza Fares, Chairman of Grupo Bafar, commented, “In 2022 we managed to show once again, despite the macroeconomic pressures, our ability to continue finding opportunities that allow us to excel and present results that reflect the great work of our people.”

In addition to the financial results, Grupo Bafar also stands out for its commitment to continuously strengthen its Corporate Governance, where in 2022 they took an important step by announcing the incorporation of two new independent members to its Board of Directors. The appointment of Gabriela Sepúlveda Elizondo and Maria Ariza Garcia is aligned with Grupo Bafar corporate priorities, adding diversity and relevant skills in commercial and financial areas, which will further strengthen the solid decision-making process.

For more information, contact:

Luis Carlos Piñón Reza

lpinon@bafar.com.mx

https://grupobafar.com/inversionistas/

Forward looking statements

The information contained in this report may include certain statements with regarding the expected financial and operating performance of Grupo Bafar, which are based on financial information, operating levels and market conditions prevailing at date, as well as estimates by the company's management in relation to possible future events. The financial information presented has not been audited.


Grupo Bafar Reports Fourth Quarter and Full Year 2022

THỦ THUẬT HAY

4 lỗi phổ biến mà nhiều người vẫn hay mắc phải khi chụp ảnh

Với nhiều năm kinh nghiệm, nhiếp ảnh gia này đã chỉ ra 4 lỗi phổ biến về cách chụp mà nhiều người vẫn hay mắc phải khi chụp ảnh.

Cách chơi game Khủng long ngay trên điện thoại Android

Hướng dẫn bạn cài đặt game Khủng long ngay trên điện thoại Android giúp bạn có thể sử dụng và giải trí cùng với nó bất cứ khi nào bạn muốn. Click xem ngay nhé!

Chỉ cần máy tính còn hoạt động, bạn sẽ không bao giờ cảm thấy buồn chán

Khi cần tìm đến phương tiện giải trí tức thì, bạn sẽ không cần nhiều hơn chiếc máy vi tính. Bất kể sở thích của bạn là gì, bạn cũng sẽ luôn có vô số lựa chọn với chiếc máy tính. Hãy tìm niềm vui trên máy tính bằng cách

Phân biệt các loại cổng USB

Hiện nay chuẩn giao tiếp usb là chuẩn giao tiếp phổ biến nhất giữa các thiết bị và phụ kiện. Nhưng có khá nhiều chuẩn usb, hình dáng, công năng có sự khác nhau, tôi tin là có nhiều anh em vẫn rất mông lung về vấn đề

Cách tra cứu hỗ trợ Covid-19 theo Nghị quyết 68 trên thẻ CCCD của bạn

Mã QR trên thẻ CCCD giúp bạn tra cứu hỗ trợ Covid-19 theo Nghị quyết 68/NQ-CP. Sau đây là hướng dẫn cách tra cứu Covid-19 theo Nghị quyết 68 trên thẻ CCCD của bạn...

ĐÁNH GIÁ NHANH

Xanh, Đen, Bạc, Vàng – iPhone 13 Pro Max màu nào đẹp nhất?

Với chủ đề màu sắc iPhone có rất nhiều điều để nói. Ở phần trước chúng tôi đã đề cập đến vấn đề iPhone 13 Pro Max có mấy màu. Và trong bài viết này chúng ta cùng xem iPhone 13 Pro Max màu nào đẹp nhất nhé. Ngoài các

Đánh giá HTC U: Ảo tưởng về giá hay thực sự cao cấp?

Từ bao giờ mà việc định giá sản phẩm cao hay thấp quyết định sự thành công hay thất bại của một doanh nghiệp?