Grupo Bimbo (BIMBOA) Q4 2025 earnings summary

Executive summary

• Achieved record financial results in 2025, with Net Sales of US $22.3Bn (Ps. 426,952 million) and Adjusted EBITDA of US $3.1Bn (Ps. 59,456 million), exceeding guidance despite global volatility and inflationary pressures.

• Celebrated 80th anniversary, inaugurated MiBIMBO interactive museum, and expanded global presence to 39 countries through five strategic acquisitions, including in Eastern Europe and Brazil.

• Appointed Alejandro Rodriguez Bas as CEO effective November 2025, with leadership transition at Bimbo Bakeries USA.

• Advanced ESG commitments: 98% of core portfolio with positive nutrition, 99% recyclable packaging, and 100% water reuse.

• Recognized as one of the Most Ethical Companies in the World for the 9th consecutive year.

Financial highlights

• Net sales grew 4.6% year-over-year, reaching record levels, driven by price/mix, FX, and acquisitions.

• Adjusted EBITDA rose 7.2% to a record, with margin expanding 30 bps to 13.9%, the second highest in company history.

• Mexico delivered 4.8% sales growth and a record Adjusted EBITDA margin of 22% in Q4.

• North America Q4 sales declined 3% (ex-FX), but EBITDA margin expanded 330 bps to 9.2% due to transformation initiatives.

• Capex investments totaled US $1.2Bn, with five strategic acquisitions completed.

Outlook and guidance

• 2026 sales expected to grow low to mid-single digits in local currency, but flat in peso terms due to currency appreciation and FX headwinds.

• Slight Adjusted EBITDA margin expansion anticipated, driven by operational leverage and supply chain efficiencies.

• CapEx guidance for 2026 set at US $1.2–1.4Bn, reflecting timing effects from 2025.

• FX assumption for 2026 is Ps. $17.75/USD, impacting top-line growth by over 500bps.

• Management remains focused on disciplined execution, profitable growth, and sustainable long-term performance.