Grupo Bimbo's first-half profit rises nearly 15% despite currency effects

Mexican baking giant Grupo Bimbo reported a 14.9% year-on-year increase in net profit attributable to shareholders for the first half of 2026, reaching 5.297 billion pesos ($303 million). This growth occurred despite a 2.6% decline in accumulated net sales, which fell to 205.308 billion pesos ($11.752 billion) due to the Mexican peso's appreciation impacting its international operations.

The company's performance in the second quarter showed a 3.9% rise in profit, totaling 2.935 billion pesos ($168 million). This was supported by sales performance and operational efficiencies, though partially limited by higher financing costs. Excluding currency fluctuations, net sales in the second quarter actually grew by 4.5%, driven by a favorable price mix, increased volumes, and recent acquisitions.

Operating profit also saw an increase, rising 10% in the first half to 16.738 billion pesos ($958 million). Adjusted quarterly EBITDA grew 6.3% when currency effects were excluded, reaching 15.113 billion pesos ($865 million). Regionally, Mexico saw a 4.7% sales increase and a 7.1% rise in adjusted EBITDA. North America experienced a 1.3% sales growth (excluding currency effects) and an expanded EBITDA margin of 10%. Europe, Asia, and Africa reported a 8.4% increase in comparable revenues, while Latin America's comparable sales grew 14.1%, though adjusted EBITDA fell 4.6% due to the integration of Wickbold in Brazil.

Grupo Bimbo generated approximately 12 billion pesos ($687 million) in free cash flow and returned over 5 billion pesos ($286 million) to shareholders. The company's net debt at the end of June stood at 137.097 billion pesos ($7.848 billion), with a net debt-to-adjusted EBITDA ratio of 2.5 times, an improvement of 0.2 times from December 2025.