Grupo Bafar Reports Fourth Quarter 2024 Results
/EIN News/ -- CHIHUAHUA, Mexico, Feb. 18, 2025 (GLOBE NEWSWIRE) -- Grupo Bafar, S.A.B de C.V. (BIVA: BAFARB), a leading company in the food sector nationwide, has announced its results for the fourth quarter of 2024, highlighting sustained growth driven by innovation, digitalization and expansion strategies in all its divisions.
2024 Cumulative Results
- Net sales reached $28,491 million pesos.
- Gross profit increased 15.7% with a margin of 31.3%.
- Operating income increased 17.0%, and EBITDA increased 18.3%.
Grupo Bafar concluded the year with record revenues of $28,491 million pesos, solidifying its position as a leading industry standard. The company's 11.3% growth over 2023 highlights its ability to generate value and maintain a steady rate of expansion. Operating income grew by 17%, reaching $4,354 million, while EBITDA increased by 18.3%, reaching $5,207 million. The company's net income for the year was $2,051 million, with a margin of 7.2%.
The Food Division maintained its digital transformation strategy, highlighting the implementation of smart stores, the integration of Salesforce CRM and the start of operations of the Intelligent Plant. Sales for the year grew 10.6%, reaching $27,268 million, driven by a 6.0% increase in sales volume and growth in value-added products, highlighting the increase in market share of Serrano ham to 33%, a 3% increase in extra-fine products and a 27% increase in breaded products. The division's EBITDA for 2024 was $3.29 billion, an increase of 20.6%.
Fibra Nova consolidated its portfolio with 123 properties and an ABR of 662,206 m², signing new contracts under Triple NNN and Build to Suit schemes with companies with a global presence, maintaining an occupancy and renewal rate of 100%, underscoring the market's confidence in the soundness of its developments. In terms of sustainability, EDGE certification was achieved for 163,600 m². Annual revenues reached $1,288 billion. EBITDA grew 25.4%, with a margin of over 90%. During the year, $1,047.9 million was distributed, 22% more than in 2023, maintaining its position as a profitable and reliable Fibra.
Fibra Nova strategically consolidated its portfolio, acquiring 123 properties and achieving an ABR of 662,206 m². The company entered into new contracts under Triple NNN and Build to Suit arrangements with globally recognized companies, maintaining an occupancy and renewal rate of 100%. This underscores the market's confidence in the soundness of Fibra Nova's developments. In terms of sustainability, EDGE certification was achieved for 163,600 m². The company's annual revenues reached $1.288 billion. EBITDA grew 25.4%, with a margin of over 90%. During the year, $1,047.9 million was distributed, marking a 22% increase over 2023 and affirming its standing as a profitable and reliable Fibra.
The Financial Division reported record results, with placements of $5,117.6 million and growth of 27.7%. This performance enabled us to achieve annual revenues of $956 million, marking a 23% increase. In the agroindustrial sector, walnut sales reached $20.4 million in the quarter, closing the year with $58.3 million.
Grupo Bafar invested $4,811 million in strategic projects, including industrial developments in the Ciudad Juárez Industrial Park, Bafar Norte Chihuahua Industrial Park, and Bafar 3 Technology Park. In the Food Division, capital was allocated to the opening of new CarneMart stores, modernization of distribution centers, optimization of logistics routes, and renovation of the transportation fleet. These investments have strengthened our infrastructure and operating capacity for the future.
The 2024 results reflect Grupo Bafar's firm commitment to innovation and growth, strengthening its position in the market and its ability to transform challenges into opportunities. With a strategic focus, the company continues to drive sustainable growth and generate value for all its stakeholders.
"With a solid foundation and a clear vision, we are prepared to face the challenges of the future, supported by the trust and dedication of our employees, partners, and customers," said Eugenio Baeza, CEO.
For more information:
Luis Carlos Piñón Reza
https://ri.bafar.investorcloud3.net/
Distribution channels: Business & Economy, Consumer Goods ...
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