Results for the Second Quarter of 2023
- Net sales reached
$6,358.6 million pesos. - Gross profit increased by 17.4% with a margin of 29.6%.
- Operating profit increased by 87%, and EBITDA grew by 70.5%.
During the second quarter of 2023, Grupo Bafar continued to demonstrate its growth and strength in the market, achieving significant margin improvement despite moderate sales growth. These results reflect the successful execution of their commercial strategies and the positioning of their brands in the national and American markets.
The company's food division was once again the main driver of growth, achieving revenues of
As for the real estate division represented by FIBRA NOVA, dollar-denominated revenues continued their upward trajectory with an 18% growth in the second quarter of 2023. This increase was mainly due to the continued expansion of industrial warehouse leases in northern area of
The financial division also showed strong performance, recording a financial margin of 49% and revenue growth of over 100% during the second quarter. This growth was attributed to increased credit placements, consolidating the company's position in the financial sector.
The financial results for the second quarter of 2023 confirm Grupo Bafar's solid financial position, enabling strategic investments of nearly
Thanks to shared objectives, strong commitment to their goals, and outstanding collaboration from their workforce, Grupo Bafar once again finds itself in the ranking of "Súper Empresas 2023" and among the top 500 companies in
For more information:
Luis Carlos Piñón Reza
lpinon@bafar.com.mx
https://grupobafar.com/inversionistas/
Source:
2023 GlobeNewswire, Inc., source