Corporate Profiles - 2024 - 52

COMPANY overview
year. Operating margin tightened to 3.9% from
6.8%. Net sales in North America were 43.37
billion pesos ($2.32 billion), down 7% from
48.56 billion pesos a year earlier. Excluding the
effects of foreign exchange, sales were down
3.4%. Bimbo said the sales decrease mostly
was due to a difficult comparison with the second
quarter last year when sales were up 12%.
Other factors cited included " an industry-wide
weaker consumption environment and strategic
exits of some non-branded business. "
The company also struggled to protect market
share over the course of the year. Bimbo's sales
of center store sandwich bread in the 52 weeks
ended July 14 were $3.04 billion, down 1.8%
from the same period a year earlier, according
to Circana. Its 28.2% share of the category was
down 1.06 points from a year earlier. Unit sales
of 780.8 million were down 3.1%. At $3.89 per
unit, Bimbo's selling price for sandwich bread
was up 1.3% from a year earlier and compared
with the industry average of $3.39.
The leader in the US baking industry, Bimbo's
dollar sales put the company 8% ahead of
Flowers Foods, Inc., the nation's second largest
baking company.
Even as the company looked to enhance efficiency
by shuttering excess capacity, Bimbo
continued to invest in its brands, announcing a
host of new products over the past year:
In August, Bimbo said it was partnering with
WK Kellogg Co to launch Thomas' Froot Loops
Mini Bagels. The limited-edition pre-sliced bagel
offerings infuse the flavors of Kellogg's Froot
RECENT INNOVATIONS
NOVEMBER 2023
Limited-edition Little Bites
cinnamon buns muffins were
added to the Little Bites
Snacks line of its Entenmann's
brand. The bite-size snacks
come in pouches of four and
are made with cinnamon.
MAY 2024
Bimbo added Hawaiian bakery
bread and buns to its Sara Lee
Artesano portfolio. The two bread
products are formulated without
artificial flavors, preservatives or
high-fructose corn syrup.
FEBRUARY 2024
Bimbo launched Brownie
Drizzle Drops through its
Entenmann's brand. Each
package contains eight individually
wrapped, bite-size
brownies topped with chocolate
drizzle.
AUGUST 2024
Bimbo partnered with WK
Kellogg Co to launch Thomas'
Froot Loops Mini Bagels. The
bagel offerings infuse the flavors
of Kellogg's Froot Loops with the
snack-sized Thomas' Mini Bagels.
Operating
income (loss)
1,294
Source: Grupo Bimbo SAB de CV
+19%
Grupo Bimbo SAB de CV
Europe, Africa and Asia
in millions of Mexican pesos
Fiscal 2023
Net
sales
Operating
income (loss)
40,545
+8%
326
Source: Grupo Bimbo SAB de CV
BIMBO BAKERIES USA
change from
prior year
Loops with the snack-size Thomas' Mini Bagels.
In May, BBU added Hawaiian bakery bread
and buns to its Sara Lee Artesano portfolio. The
two new bread products are formulated without
any artificial flavors, preservatives or highfructose
corn syrup to " deliver delicious, sweet
bread and buns with the perfect tropical twist, "
BBU said.
In February, Bimbo launched Brownie Drizzle
Drops through its Entenmann's Brand. Each
package contains eight individually wrapped,
bite-size brownies topped with chocolate drizzle.
In November 2023, limited-edition
Little
Bites cinnamon buns muffins were added to
the Little Bites Snacks line of its Entenmann's
brand. The bite-size snacks come in pouches of
four and are made with cinnamon. That same
month, Bimbo unveiled its first-ever baked donut
cakes under the Entenmann's brand.
In October 2023, Bimbo expanded its artisan-style
line of products marketed under The
Rustik Oven brand with the launch of sliced
sourdough sandwich loaves in two varieties:
sourdough and multi-grain sourdough. The
company said the bread is slow baked in small
batches with no artificial colors or flavors and is
Non-GMO Project verified and crafted using the
brand's traditional European baking process.
Also in October 2023, the company introduced
a new croissant bread to expand the
breakfast portfolio of its Thomas' English muffins
and bagels brand. The bread has the " flaky
delicate layers of a croissant baked right into a
loaf and sliced for convenience, " BBU said. CP
Grupo Bimbo SAB de CV
North America
in millions of Mexican pesos
Fiscal 2023
Net
sales
Operating
income (loss)
192,534
-6%
11,175
Source: Grupo Bimbo SAB de CV
-66%
Grupo Bimbo SAB de CV
Mexico
in millions of Mexican pesos
Fiscal 2023
Net
sales
Operating
income (loss)
145,387
+11%
21,882
Source: Grupo Bimbo SAB de CV
+16%
Grupo Bimbo SAB de CV
Latin America
in millions of Mexican pesos
Fiscal 2023
Net
sales
36,647
-4.6%
change from
prior year
change from
prior year
change from
prior year
52 \ October 2024
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Corporate Profiles

Corporate Profiles - 2024

Table of Contents for the Digital Edition of Corporate Profiles - 2024