Corporate Profiles - 2022 - 62

COMPANY OVERVIEW
value chain but not from assets owned or directly controlled by the company.
He said the early results of the pilot tests have been impressive.
" When you go through the steps, instead of emitting carbon, you actually
capture carbon, " he said.
Bimbo Bakeries USA during June shared details about a supplier diversity
program the company has adopted. BBU said it will partner with " vendors
with diverse experience, viewpoints and backgrounds. " Elements of the supplier
program were described in " Our Foundation of Belonging, " BBU's 2021
Diversity, Equity and Belonging report. The report also describes progress the
company made in its diversity, equity and inclusion program during 2021.
The annual report features three-year goals and commitments that are part
of the company's Workforce, Workplace and Marketplace strategic framework.
" We are committed to building a workforce, creating a work environment and
establishing a meaningful presence in the marketplace that actively promotes
diversity and equity, and ultimately achieves belonging for our associates and within
our communities, " said Nikki Lang, head of diversity, equity and belonging at BBU.
Under the company's
supplier diversity program, all new suppliers
will be required to fill out a supplier diversity questionnaire as part of the
implementation process for vendors in its systems. Additionally, the company
is partnering with the National Minority Supplier Development Council, which
will offer referrals and introductions to minority business enterprises and offer
its database of minority certified MBEs.
Establishing as an objective that the company's workforce looks like its consumers,
customers and markets, BBU said it is setting representation goals that align with
business practices to measure progress and ensure internal and external credibility.
Grupo Bimbo SAB de CV North America
Fiscal 2021
Net sales
176,275
-0.1%
Operating income (loss)
8,864
+119%
Grupo Bimbo SAB de CV Latin America
Fiscal 2021
Net sales
31,376
+8%
Operating income (loss)
(1,227)
Operating income (loss)
(729)
Grupo Bimbo SAB de CV Europe,
Asia and Africa
change from prior year
Fiscal 2021
Net sales
34,195
+14%
change from prior year
Operating income
16,546
+80%
Meanwhile, the company's business generally has remained strong. Sales
have held up well, though profit margins have been under pressure.
" We haven't seen consumers trading down as demand continues to be very
strong, and it is reflected in our volume growth, " Diego Gaxiola, chief financial
officer, said during a July 21 conference call after the company announced
second-quarter results.
Operating income of the North America business of Grupo Bimbo in the
second quarter ended June 30 was 4.8 billion pesos ($233 million), up 84%
from 2.61 billion pesos in the second quarter last year. Sales during the quarter
were 49.45 billion pesos ($2.4 billion), up 16% from 42.54 billion pesos in
the second quarter a year earlier.
" North America region margin contraction of 210 basis points was mainly
due to a higher inflationary environment, including commodities, labor costs,
as well as challenges and shortages across the supply chain, " Bimbo said. " This
was partially offset by the strong sales performance, favorable branded mix and
productivity benefits from past restructuring investments. "
Mr. Servitje said inflation has been felt in prices for commodities, freight and
labor. Bimbohas grappled with supply chain challenges and shortages.
" We have been leveraging many tools to affect this rising inflation, including
revenue growth management strategies, category and product mix, pricing
actions and pursuing many product productivity initiatives, " he said. " We will
continue this approach throughout the year to proactively look for restructuring
opportunities across the value chain and to deploy our digital transformation
strategy. Looking ahead to the second half of the year, we remain confident we
will be able to reach our goals and guidance. " CP
change from prior year
Grupo Bimbo SAB de CV Mexico
Fiscal 2021
Net sales
118,661
+13%
change from prior year
62 \ November 2022
Milling & Baking News * Food Business News * Baking & Snack * Meat+Poultry * Dairy Processing
Corporate Profiles
in millions of Mexican pesos
in millions of Mexican pesos
in millions of Mexican pesos
in millions of Mexican pesos

Corporate Profiles - 2022

Table of Contents for the Digital Edition of Corporate Profiles - 2022