Sigma Foods, S.a.b. De C.v. · BMV:SIGMAF/A
Sigma Foods, S.a.b. De C.v — Q1 2025 Earnings Presentation
47 slides from Sigma Foods, S.a.b. De C.v's earnings presentation, Apr 24, 2025
Slide 1: Earnings Report First Quarter 2025 (1Q25)
EARNINGS REPORT First Quarter 2025 (1Q25) Monterrey, N.L., Mexico, April 23, 2025. ALFA, S.A.B. de C.V. (BMV: ALFAA) (“ALFA”, “Alfa|SIGMA”), a company that has simplified its corporate structure to concentrate on Sigma, a leading multinational food company, announced today its unaudited results for
Slide 2: Important notes on changes to Alfa|SIGMA's Consolidated Financial Statements
Earnings Report First Quarter 2025 (1Q25) Important notes on changes to Alfa|SIGMA’s Consolidated Financial Statements Controladora Alpek ALFA’s shareholders approved to spin-off ALFA’s share ownership of Alpek into a new, listed entity called “Controladora Alpek” on October 24, 2024. In accordance
Slide 3: 1Q25 Highlights
Earnings Report First Quarter 2025 (1Q25) SIGMA reports EBITDA of US $220 million in 1Q25, on track to reach full-year Guidance of US $1 billion 1Q25 HIGHLIGHTS Alfa|SIGMA completed its transformation following the earlier-than- expected distribution of Controladora Alpek shares to ALFA Shareholde
Slide 4: Selected Financial Information (US $ million)
Earnings Report First Quarter 2025 (1Q25) SELECTED FINANCIAL INFORMATION (US $ MILLION) (%) 1Q25 vs. 1Q25 4Q24 1Q24 4Q24 1Q24 Volume SIGMA (kTons) 446 454 449 (2) (1) Mexico 245 247 243 (1) 1 Europe 89 95 91 (6) (3) United States 85 82 88 3 (3) Latam 27 29 26 (7) 3 Revenue Alfa|SIGMA 2,091 2,197 2,2
Slide 5: Contents
Earnings Report First Quarter 2025 (1Q25) Contents Message from ALFA’s Chairman & CEO Message from Sigma’s CEO Consolidated Financial Results Alfa|SIGMA (BMV: ALFAA) & Sigma Tables Financial Statements Appendix – Alpek 1Q25 Results Report iralfa@alfa.com.mx 5 www.alfa.com.mx + (52) 81-8748-2521
Slide 6: Message from ALFA's Chairman & CEO
Earnings Report First Quarter 2025 (1Q25) Message from ALFA’s Chairman & CEO “The start of the year has been transcendental as the corporate transformation of Alfa|SIGMA is now complete. Following careful planning and methodical execution, our team successfully delivered on the strategic goal to sep
Slide 7: Message from Sigma's CEO
Earnings Report First Quarter 2025 (1Q25) Message from Sigma’s CEO “At the start of the year, our team stepped up amid rising commodity costs and fast-evolving geopolitical dynamics. On a currency-neutral basis, 1Q25 Revenues increased 5% year-over-year as effective revenue management initiatives an
Slide 8: Alfa|SIGMA Consolidated Financial Results
Earnings Report First Quarter 2025 (1Q25) Alfa|SIGMA (BMV: ALFAA) Consolidated Financial Results INCOME STATEMENT (US $ MILLION) (%) 1Q25 vs. 1Q25 4Q24 1Q24 4Q24 1Q24 Revenues 2,091 2,197 2,204 (5) (5) Gross Profit 623 633 717 (2) (13) Operating Expenses and Others (412) (555) (526) 26 22 Operating
Slide 9: Change in Net Debt (US $ million)
Earnings Report First Quarter 2025 (1Q25) CHANGE IN NET DEBT (US $ MILLION) (%) 1Q25 vs. 1Q25 4Q24 1Q24 4Q24 1Q24 EBITDA 271 177 254 53 7 Net Working Capital (225) 125 (123) (143) (82) Capital Increase 0 392 0 - - Capital Expenditures & Acquisitions (47) (121) (41) 61 (15) Net Financial Expenses (61
Slide 10: Sigma Financial Results
Earnings Report First Quarter 2025 (1Q25) Financial Results INCOME STATEMENT (US $ MILLION) (%) 1Q25 vs 1Q25 4Q24 1Q24 4Q24 1Q24 Volume 446 454 449 (2) (1) Total Revenues 2,064 2,166 2,170 (5) (5) Gross Profit 612 628 706 (2) (13) Operating Expenses and Others (450) (483) (502) (7) (10) Operating In
Slide 11: Sigma Change in Net Debt
Earnings Report First Quarter 2025 (1Q25) Comprehensive Financing Expense (CFE) was US $54 million, down 28% versus 1Q24 as lower foreign exchange losses more than offset a higher interest expense (see Table 12). Net Income was US $66 million in 1Q25, a 3% decline year-on-year explained by the lower
Slide 12: Industry Comments - Sigma
Earnings Report First Quarter 2025 (1Q25) INDUSTRY COMMENTS - SIGMA Consumer Confidence and Retail Sales Mexico Average consumer confidence (as per INEGI1) was 46 points in 1Q25, down 2% year-on-year. Inflation averaged 3.7% through February 2025, a 90-basis point improvement against the 4.6% rate
Slide 13: Exchange Rate
Earnings Report First Quarter 2025 (1Q25) Exchange Rate When compared against the U.S. dollar, the average 1Q25 exchange rate for the Mexican peso and the euro depreciated 20% and 3% year-on-year, respectively. Furthermore, Sigma’s Latam currencies (outside Mexico) experienced a net depreciation of
Slide 14: Results by Region - Sigma
Earnings Report First Quarter 2025 (1Q25) RESULTS BY REGION - SIGMA During 1Q25, Mexico accounted for 49% of total Revenues; followed by Europe at 25%; the U.S. at 19%; and Latam at 7%. Mexico 1Q25 Revenues were up 12% year-on-year in local currency, supported by revenue management initiatives, as w
Slide 15: Recent Developments - Alfa|SIGMA
Earnings Report First Quarter 2025 (1Q25) RECENT DEVELOPMENTS – Alfa|SIGMA Transformation is now complete; Alfa|SIGMA fully focused on food business Distribution of Controladora Alpek shares to Alfa shareholders on April 4, 2025 Unlocking Key milestones since 2020: Value – Corporate – Distribu
Slide 16: The Studio
Earnings Report First Quarter 2025 (1Q25) While still in the early stages, The Studio aims to become an engine for growth, building Sigma’s internal capabilities to create bold, consumer- centered innovations that strengthen both profit and purpose. The Studio Early initiatives include: – In Eur
Slide 17: Alpek (BMV: ALPEKA) - Petrochemicals
Earnings Report First Quarter 2025 (1Q25) Alpek (BMV: ALPEKA) – PETROCHEMICALS In accordance with International Financial Reporting Standards (IFRS), ALFA’s Consolidated Results account for Alpek as Discontinued Operations due to the spin-off of the business. Detailed operational and financial figur
Slide 18: 1Q25 Earnings Call Information
Earnings Report First Quarter 2025 (1Q25) 1Q25 EARNINGS CALL INFORMATION Date: Thursday, April 24, 2025 Time: 2:00 p.m. EDT (NY) / 12:00 p.m. CST (CDMX) Registration: https://us02web.zoom.us/webinar/register/WN_bMTFbXkwSYKyY_goQKXPBw Replay: https://www.alfa.com.mx/en/events/ iralfa@alfa.com.mx 18 w
Slide 19: About Alfa|SIGMA
Earnings Report First Quarter 2025 (1Q25) About Alfa|SIGMA Alfa|SIGMA has simplified its corporate structure to concentrate on Sigma, a leading multinational food company that focuses on the production, marketing, and distribution of quality foods through recognized brands in Mexico, Europe, the Uni
Slide 20: Tables: Alfa|SIGMA
Earnings Report First Quarter 2025 (1Q25) Tables Alfa|SIGMA Table 1 | VOLUME AND PRICE CHANGES (%) 1Q25 vs. 4Q24 1Q24 Total Volume (1.9) (0.8) Domestic Volume (1.4) 0.2 Foreign Volume (2.6) (2.2) Avg. Ps. $ Prices (1.2) 15.0 Avg. US $ Prices (3.0) (4.3) Table 2 | REVENUES (%) 1Q25 vs. 1Q25 4Q24 1Q24
Slide 21: Extraordinary Items and Comparable EBITDA
Earnings Report First Quarter 2025 (1Q25) Table 4 | EXTRAORDINARY ITEMS (US $ MILLION) Company Extraordinary item 1Q25 4Q24 1Q24 Sigma Torrente plant (Spain) net effect 0 8 0 Write-offs and Non-recurring items 55 (40) - Energy & Others Discontinued operation accounting (Alpek) (4) (3) (3) ALFA Total
Slide 22: Statement of Financial Position & Financial Ratios
Earnings Report First Quarter 2025 (1Q25) Table 8 | STATEMENT OF FINANCIAL POSITION & FINANCIAL RATIOS (US $ MILLION) (%) 1Q25 vs. 1Q25 4Q24 1Q24 4Q24 1Q24 Assets Cash And Cash Equivalents 493 620 1,505 (20) (67) Trade Accounts Receivable 449 434 1,274 3 (65) Inventories 1,002 928 2,431 8 (59) Curre
Slide 23: Sigma Tables
Earnings Report First Quarter 2025 (1Q25) Sigma Table 9 | SIGMA - VOLUME AND PRICE CHANGES (%) 1Q25 vs. 4Q24 1Q24 Total Volume (1.9) (0.8) Avg. Ps. $ Prices (1.2) 15.0 Avg. US $ Prices (3.0) (4.3) Table 10 | SIGMA – REVENUES AND EBITDA IN LOCAL CURRENCY (%) 1Q25 vs. 1Q25 4Q24 1Q24 4Q24 1Q24 Revenues
Slide 24: Sigma Comprehensive Financing and Financial Position
Earnings Report First Quarter 2025 (1Q25) Table 12 | SIGMA - COMPREHENSIVE FINANCING INCOME / EXPENSE (US $ MILLION) (%) 1Q25 vs. 1Q25 4Q24 1Q24 4Q24 1Q24 Financial Expenses (56) (60) (51) (8) 10 Financial Income 4 5 8 (23) (50) Net Financial Expenses (51) (55) (42) (6) 22 Exchange Rate Gains (Losse
Slide 25: Alpek Discontinued Operations Tables
Earnings Report First Quarter 2025 (1Q25) Alpek Table 14 | STATEMENT OF FINANCIAL POSITION DISCONTINUED OPERATIONS – ALPEK (US $ MILLION) 1Q25 4Q24 1Q24 Current Assets 2,753 2,673 0 Non-Current Assets 3,158 3,091 0 Total assets 5,911 5,764 0 Current Liabilities 1,749 1,747 0 Non-Current Liabilities
Slide 26: Financial Statements: ALFA Balance Sheet
Earnings Report First Quarter 2025 (1Q25) Financial Statements ALFA, S.A.B. de C.V. and Subsidiaries BALANCE SHEET Information in millions of Nominal Mexican Pesos (%) Mar25 vs. ASSETS Mar25 Dec24 Mar24 Dec24 Mar24 CURRENT ASSETS: Cash and Cash Equivalents 10,025 12,570 25,108 (20) (60) Trade Accoun
Slide 27: ALFA Income Statement
Earnings Report First Quarter 2025 (1Q25) ALFA, S.A.B. de C.V. and Subsidiaries INCOME STATEMENT Information in millions of Nominal Mexican Pesos (%) 1Q25 vs. 1Q25 4Q24 1Q24 4Q24 1Q24 Net Sales 42,705 44,067 37,452 (3) 14 Domestic 21,036 20,939 18,879 - 11 Export 21,670 23,128 18,572 (6) 17 Cost of
Slide 28: Sigma Alimentos Balance Sheet
Earnings Report First Quarter 2025 (1Q25) Sigma Alimentos, S.A. de C.V. and Subsidiaries BALANCE SHEET Information in millions of Nominal Mexican Pesos (%) Mar 25 vs. ASSETS Mar 25 Dec 24 Mar 24 Dec 24 Mar 24 CURRENT ASSETS: Cash And Cash Equivalents 8,249 11,241 18,908 (27) (56) Restricted Cash 18
Slide 29: Sigma Alimentos Income Statement
Earnings Report First Quarter 2025 (1Q25) Sigma Alimentos, S.A. de C.V. and Subsidiaries INCOME STATEMENT Information in millions of Nominal Mexican Pesos (%) 1Q25 vs. 1Q25 4Q24 1Q24 4Q24 1Q24 Revenue 42,153 43,445 36,887 (3) 14 Cost of Sales (29,645) (30,859) (24,893) (4) 19 Gross Profit 12,508 12,
Slide 30: Appendix - Alpek 1Q25 Results Report
Earnings Report First Quarter 2025 (1Q25) Appendix – Alpek 1Q25 Results Report iralfa@alfa.com.mx 30 www.alfa.com.mx + (52) 81-8748-2521
Slide 31: First Quarter 2025 Results
FIRST QUARTER 2025 RESULTS APRIL 22, 2025 Webcast Details Investor Relations Contacts Wednesday, April 23rd at Bárbara Amaya 9:00 am MX | 11:00 am ET bamaya@alpek.com Zoom Webcast Registration Alejandra Bustamante abustamante@alpek.com ir@alpek.com www.alpek.com
Slide 32: Quarterly Highlights Key Metrics
Monterrey, Mexico – April 22, 2025 – Alpek, S.A.B. de C.V. (BMV: ALPEKA) (“Alpek” or the “Company”) announces its First Quarter 2025 Results. QUARTERLY HIGHLIGHTS (U.S.$ million, unless otherwise noted) • Volume of 1,119 ktons, remained flat QoQ and represented a decrease (-7% YoY) compared to the s
Slide 33: Message from our CEO
MESSAGE FROM OUR CEO “As anticipated, Alpek navigated a challenging first quarter. Market conditions remained under pressure, driven by persistent global overcapacity and ocean freight costs declining below historical levels, both of which pressured regional margins, particularly for the Polyester s
Slide 34: Strategic Focus and Long-term Vision
Strategic Focus and Long-term Vision At Alpek, we remain fully committed to long-term vision of delivering sustainable value creation and growth. This vision is anchored on four pillars that guide our priorities and decision-making: • Solidifying the Core We are strengthening our operational foundat
Slide 35: Annual Shareholders' Meeting and Board Composition Update
Annual Shareholders’ Meeting and Board Composition Update Alpek held its Annual Shareholders’ Meeting on April 1, 2025. Key resolutions included the election of the Board of Directors, and the designation and approval of the Chairmen for the Audit and Corporate Practices Committees. The Board of Dir
Slide 36: Financial Results
FINANCIAL RESULTS EBITDA (U.S.$ million, unless otherwise noted) 1Q25 4Q24 1Q24 QoQ% YoY% Reported EBITDA 131 109 168 20 (22) Inventory Adjustment (15) 52 (18) (129) 14 Others 10 7 3 42 197 Comparable EBITDA 126 168 154 (25) (18) Comparable EBITDA was $126 million, (-25% QoQ and -18% YoY), due to we
Slide 37: Cash Flow, Net Debt & Leverage
CASH FLOW (U.S.$ million, unless otherwise noted) 1Q25 4Q24 1Q24 QoQ% YoY% EBITDA 131 109 168 20 (22) Net Working Capital & Others (57) (55) (160) (3) 64 Financial Expenses (35) (40) (36) 14 5 Income Tax (10) (13) (32) 20 68 Maintenance CAPEX (21) (32) (20) 33 (3) Operating Free Cash Flow 8 (31) (81
Slide 38: Polyester Results
POLYESTER RESULTS (PTA, PET Resin, PET Sheet, & rPET: 70% of Alpek’s Net Sales) U.S.$ million, unless otherwise noted 1Q25 4Q24 1Q24 QoQ% YoY% Volume (ktons) 917 926 990 (1) (7) Revenues 1,205 1,243 1,395 (3) (14) Reported EBITDA 67 59 109 14 (39) Inventory Adjustment (5) 41 (6) (112) 16 Others 5 -
Slide 39: Plastics & Chemicals Results
PLASTICS & CHEMICALS (P&C) RESULTS (PP, EPS, & Specialty Chemicals: 21% of Alpek’s Net Sales) U.S.$ million, unless otherwise noted 1Q25 4Q24 1Q24 QoQ% YoY% Volume (ktons) 202 198 212 2 (5) Revenues 365 374 398 (2) (8) Reported EBITDA 61 46 57 33 7 Inventory Adjustment (11) 12 (14) (186) 23 Others 5
Slide 40: About Alpek / Note on Forward Looking Statements
ABOUT ALPEK Alpek is a leading petrochemical company operating two business segments: “Polyester” (Purified Terephthalic Acid (PTA), Polyethylene Terephthalate (PET), & recycled PET (rPET), and “Plastics & Chemicals” (Polypropylene (PP), Expandable Polystyrene (EPS), and other specialty and industri
Slide 41: Appendix A - Additional Financial Information
APPENDIX A – ADDITIONAL FINANCIAL INFORMATION TABLE 1 | PRICE CHANGES (%) QoQ YoY Polyester Avg. Ps. prices - 12 Avg. U.S. $ prices (2) (7) Plastics & Chemicals Avg. Ps. prices (2) 15 Avg. U.S. $ prices (4) (4) Total Avg. Ps. prices 1 16 Avg. U.S. $ prices (1) (3) TABLE 2 | REVENUES 1Q25 4Q24 1Q24 Q
Slide 42: Table 4 | Comparable EBITDA
TABLE 4 | COMPARABLE EBITDA 1Q25 4Q24 1Q24 QoQ% YoY% Reported EBITDA Ps. million 2,675 2,190 2,856 22 (6) U.S. $ million 131 109 168 20 (22) Adjustments* Ps. million (108) 1,181 (243) (109) 56 U.S. $ million (5) 59 (14) (109) 64 Comparable EBITDA Ps. million 2,567 3,371 2,613 (24) (2) U.S. $ million
Slide 43: Table 6 | Statement of Financial Position & Financial Ratios
TABLE 6 | STATEMENT OF FINANCIAL POSITION & 1Q25 4Q24 1Q24 QoQ% YoY% FINANCIAL RATIOS (U.S.$ million) Assets Cash and cash equivalents 344 326 312 6 10 Trade accounts receivable 674 670 819 1 (18) Inventories 1,456 1,394 1,431 5 2 Other current assets 278 283 340 (2) (18) Total current assets 2,753
Slide 44: Polyester
POLYESTER TABLE 7 | REVENUES 1Q25 4Q24 1Q24 QoQ% YoY% Total Revenues Ps. million 24,605 24,918 23,710 (1) 4 U.S. $ million 1,205 1,243 1,395 (3) (14) Domestic Revenues Ps. million 5,732 5,583 4,868 3 18 U.S. $ million 281 278 287 1 (2) Foreign Revenues Ps. million 18,873 19,335 18,842 (2) - U.S. $ m
Slide 45: Plastics & Chemicals
PLASTICS & CHEMICALS TABLE 10 | REVENUES 1Q25 4Q24 1Q24 QoQ% YoY% Total Revenues Ps. million 7,461 7,488 6,773 - 10 U.S. $ million 365 374 398 (2) (8) Domestic Revenues Ps. million 4,323 4,174 3,551 4 22 U.S. $ million 212 208 209 2 1 Foreign Revenues Ps. million 3,138 3,313 3,222 (5) (3) U.S. $ mil
Slide 46: Appendix B - Financial Statements
APPENDIX B – FINANCIAL STATEMENTS ALPEK, S.A.B. DE C.V. and Subsidiaries CONSOLIDATED STATEMENT OF FINANCIAL POSITION (Millions of Mexican pesos) Mar-25 Dec-24 Mar-24 QoQ% YoY% ASSETS CURRENT ASSETS: Cash and cash equivalents 6,605 6,216 5,190 6 27 Restricted cash 387 386 8 - 5,040 Trade accounts re
Slide 47: Alpek Consolidated Statement of Income
ALPEK, S.A.B. DE C.V. and Subsidiaries CONSOLIDATED STATEMENT OF INCOME 1Q25 4Q24 1Q24 QoQ% YoY% (millions of Mexican pesos) Revenues 35,022 34,863 32,349 - 8 Domestic 12,962 12,181 10,249 6 26 Export 22,060 22,682 22,100 (3) - Cost of sales (32,284) (32,690) (29,521) 1 (9) Gross profit 2,738 2,173