Industrias Bachoco Announces Fourth Quarter 2019 Results
Industrias Bachoco, S.A.B. de C.V. (IBA)
Last industrias bachoco, s.a.b. de c.v. earnings: 4/28 05:30 pm
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US:NYSE Investor Relations:
corporativo.bachoco.com.mx/inversionistas
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Source: PR Newswire
CELAYA, Mexico, Feb. 4, 2020 /PRNewswire/ -- Industrias Bachoco, S.A.B. de C.V., "Bachoco" or "the Company", (NYSE: IBA; BMV: Bachoco) announced today its unaudited results for the fourth quarter ("4Q19") and full year ("2019") ending on December 31st, 2019. All figures have been prepared in accordance with International Financial Reporting Standard ("IFRS") and are presented in nominal million Mexican Pesos ("$").HIGHLIGHTS 2019Net sales decreased 1.8% in 4Q19 and increased 1.0% in year 2019 vs equivalent periods of 2018. EBITDA margin was 3.8% for 4Q19 and 8.5% for the whole year. Earnings per basic and diluted share totaled $0.26 for 4Q19 and $5.26 for the year.CEO COMMENTSMr. Rodolfo Ramos Arvizu, Chief Executive Officer of Bachoco, stated: "Under challenging conditions by the end of the year, particularly regarding economic growth in Mexico, we managed to end 2019 with positive results vs 2018 in terms of profitability, despite a difficult 4Q19.In Mexico, during the quarter, we o
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