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Unprecedented Gruma Growth Driven By Demand For Tortillas, Wraps, And Corn Flour In The United States

Unprecedented Gruma Growth Driven By Demand For Tortillas, Wraps, And Corn Flour In The United States

- Net sales and EBITDA of Gruma operations in the United States stood at 61% and 70%, respectively, in its consolidated global Q2 2020 results.

- The retail channel reported its highest corn and wheat tortilla sales.

- Gruma has continued to meet the growing demand for its products MISSION and MASECA by direct clients in the United States.

PR Newswire

MEXICO CITY, Aug. 3, 2020 /PRNewswire/ -- During the second quarter of the year (Q2 2020), Gruma's outstanding results in net sales and EBITDA were driven by its subsidiaries outside of Mexico, primarily in the United States, which represented 61% and 70%, respectively, of the Company's consolidated figures. 

In the U.S. market, the Mexican multinational saw a 5% sales volume increase to 383,000 tons. Corn flour sales were up 5%, while tortilla sales volumes grew 6%, driven primarily by consumer purchases in supermarkets and convenience stores nationwide during the COVID-19 pandemic.

It should be noted that in the retail channel the highest sale of corn tortillas, wheat tortillas and wraps MISSION was recorded in all its presentations, above sales to foodservice.

The Company announced an extraordinary increase in the sale of its MASECA corn flour package presentation as a result of the pandemic.

Net sales in the United States were up 14% in Q2 2020, compared to Q2 2019, to stand at MXN 14,536 million, while operating income was up 14% to stand at MXN 2,141 million. EBITDA grew 15% to stand at MXN 2,798 million.

It is worth mentioning that in Q2 2020, the Company reported a considerable increase in demand for Mission and Maseca products in the United States, which it was able to effectively meet with the help of its plants south of the border in Mexicali, Tijuana, and Monterrey, to ensure that consumers in the United States did not suffer for lack of these products.

Gruma has a solid distribution platform in the United States of America that allows it to supply its direct customers or points of sale, through its 19 strategically located plants, in which more than 12 thousand employees work in a committed manner.

The Company expects to see a continued positive impact on its business growth once the health contingency is over, thanks to its strength and production and distribution platform, and because it belongs to the food sector, one of the industries that has continued to gain momentum during the pandemic.

Press Contact:

Pedro Rodríguez

prodriguezp@gruma.com

(55) 4354 1651

(55) 9177 0419

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/unprecedented-gruma-growth-driven-by-demand-for-tortillas-wraps-and-corn-flour-in-the-united-states-301104206.html

SOURCE Gruma



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