Sigma Foods (SIGMAF) Q4 2025 earnings summary

Executive summary

• Record 2025 revenues surpassed $9.3 billion, with EBITDA reaching $1 billion and double-digit ROIC maintained in a dynamic macro environment.

• Strong performance was driven by diversified operations, selective price actions, and favorable FX, with Mexico and Europe leading growth.

• Completed the spin-off of Alpek, now reported as discontinued operations, and rebranded as Sigma Foods with a new ticker symbol.

• Strategic focus remains on operational excellence, brand innovation, capacity expansion, and future-oriented innovation.

Financial highlights

• 4Q25 revenues reached $2.5 billion, up 12–13% year-over-year, with full-year revenues up 4% to $9.273 billion.

• 4Q25 EBITDA was $278 million, with comparable EBITDA at $284 million, up 28–34% year-over-year; full-year comparable EBITDA reached $1 billion.

• Net income in 4Q25 was $177 million, compared to a $320 million loss in 4Q24; full-year net income was $462 million, up from $52 million in 2024.

• Net debt at year-end was $2.705 billion, with Net Debt/EBITDA at 2.5x and total liquidity at $1.5 billion.

• CapEx totaled $362 million for 2025, up 45–47% year-over-year, reflecting capacity expansions and modernization.

Outlook and guidance

• 2026 guidance projects 4% revenue growth, 5–10% EBITDA growth, and 2% volume growth, with all regions contributing.

• CapEx for 2026 is expected to increase 27% to $460 million, mainly for capacity replacement in Spain and expansions in Mexico and the U.S.

• Proposed 2026 cash dividend of $150 million, to be paid in installments.