Sigma Foods, S.a.b. De C.v. · BMV:SIGMAF/A
Sigma Foods, S.a.b. De C.v — Q3 2025 Earnings Presentation
18 slides from Sigma Foods, S.a.b. De C.v's earnings presentation, Oct 23, 2025
Slide 1: 3Q25 Earnings Presentation
3Q25 Earnings Presentation 1
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking information based on numerous variables, expectations and assumptions that are inherently uncertain. They involve judgments with respect to, among other things, future economic, competitive and financial market conditions and future business deci
Slide 3: Note on changes to Alfa|SIGMA's Consolidated Financial Statements
Note on changes to Alfa|SIGMA’s Consolidated Financial Statements Controladora Alpek ALFA’s shareholders approved the spin-off ALFA’s share ownership of Alpek into a new, listed entity called “Controladora Alpek” on October 24, 2024, and received Controladora Alpek shares on April 4, 2025. In accord
Slide 4: SIGMA reports EBITDA of US $255 million in 3Q25; YTD Comparable EBITDA of US $722 million
SIGMA reports EBITDA of US $255 million in 3Q25; YTD Comparable EBITDA of US $722 million Mexico United States • All-time high quarterly Revenues supported • Flat Revenues YoY; higher average prices by selective price actions offset lower volume • Resilient Volume; Retail channels • Growing penetrat
Slide 5: Resilient Volume
Resilient Volume Volume SIGMA Volume SIGMA – Δ YoY Volume SIGMA - Δ QoQ (kTons) (kTons) (kTons) 456 465 463 0% 1% 439 465 463 463 1 -2 -1 0 460 3 -4 1 3 3Q22 3Q23 3Q24 3Q25 3Q24 Mexico Europe U.S. Latam 3Q25 2Q25 Mexico Europe U.S. Latam 3Q25 5
Slide 6: Revenue driven mainly by selective price actions
Revenue driven mainly by selective price actions Revenues Alfa|SIGMA Revenues SIGMA – Δ YoY Revenues SIGMA - Δ QoQ (US $ Million) (US $ Million) (US $ Million) +8% 5% Alfa Δ 2,422 2,393 2,393 SIGMA 2,243 2,253 0 3 -2 3 36 45 2,222 2,270 1,906 77 132 2,393 2,209 2,222 1,879 3Q22 3Q23 3Q24 3Q25 3Q24 M
Slide 7: 3Q25 EBITDA of US $255M down 9% YoY due to raw material cost pressures
3Q25 EBITDA of US $255M down 9% YoY due to raw material cost pressures; comparable sequential improvement driven by Mexico EBITDA Alfa|SIGMA EBITDA SIGMA – Δ YoY EBITDA SIGMA - Δ QoQ (US $ Million) (US $ Million) (US $ Million) -9% -18% + - Alfa Δ 281 281 312 SIGMA 255 255 -11 255 -4 17 -11 -2 255 2
Slide 8: EBITDA margins reflect partial impact from higher protein costs
EBITDA margins reflect partial impact from higher protein costs EBITDA Margin SIGMA EBITDA Margin By Region SIGMA (%) (%) 12.4 12.7 15.9 11.5 12.2 15.5 * 10.6 * 10.7 10.9 10.6 13.0 14.0 10.1 9.9 12.4 9.6 11.6 12.0 8.5 10.5 9.7 8.7 8.5 8.9 * * 3.8 3.4 2.1 1.6 4Q22 1Q23 2Q23 3Q23 2024 4Q23 1Q24 2Q24 3
Slide 9: Comparable EBITDA of US $255 with consistent sequential improvements year to date
Comparable EBITDA of US $255 with consistent sequential improvements year to date EBITDA Alfa|SIGMA Extraordinary items Alfa|SIGMA Comparable EBITDA Alfa|SIGMA (US $ Million) (US $ Million) (US $ Million) + - Alfa Δ SIGMA SIGMA EBITDA Margin 312 248 255 271 214 220 255 4Q24 1Q25 2Q25 3Q25 222 SIGMA
Slide 10: Alfa|SIGMA maintains solid financial position
Alfa|SIGMA maintains solid financial position Net Debt Alfa|SIGMA Net Leverage Ratio Alfa|SIGMA (US $ Million) (Net Debt/EBITDA) 2,687 2,709 2.7 2,596 2.6 2.6 2,471 2.5 4Q24 1Q25 2Q25 3Q25 4Q24 1Q25 2Q25 3Q25 Alfa|SIGMA Alfa|SIGMA 10
Slide 11: Alfa|SIGMA - Net Debt slightly higher quarter on quarter
Alfa|SIGMA - Net Debt slightly higher quarter on quarter Change in Net Debt 3Q25 vs. 2Q25 (US $ Milions) 2,687 2,709 40 62 63 -245 8 95 2Q25 EBITDA Net Working Capex Net Financial Taxes Dividends Other 3Q25 Capital Expenses
Slide 12: Recent Developments
Recent Developments Growth Business Unit • In Mexico, SIGMA’s snacks exceed 1 million units sold per month • Upcoming launch in first U.S. city (4Q25) , SIGMA’s global center of excellence for consumer-centered design and innovation, advancing to boost core brands. • 46 Physical prototypes developed
Slide 13: Pork ham price in U.S. and Europe
Pork ham price in U.S. and Europe Pork Ham Prices in U.S. Pork Ham Prices in Europe US $/Lb Eur/Kg 1.3 4.0 1.2 1.1 3.5 1.0 0.9 3.0 0.8 0.7 0.6 2.5 0.5 0.4 2.0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2023 2024 2025 2023 2024 2025 13
Slide 14: Poultry raw materials in the U.S.
Poultry raw materials in the U.S. Turkey Breast - US $/Lb Turkey (MST) - US $/Lb 8.0 1.0 6.0 0.8 0.6 4.0 0.4 2.0 0.2 0.0 0.0 Jan Feb Mar May Jun Aug Sep Oct Dec Jan Feb Mar May Jun Aug Sep Oct Dec 2023 2024 2025 2023 2024 2025 Chicken (MSC) - US $/Lb Turkey Thigh - US $/Lb 0.5 3.0 0.4 2.0 0.3 1.0 0.
Slide 15: Poultry raw materials in Europe
Poultry raw materials in Europe Chicken Filet Turkey Breast Eur / Kg Eur / Kg 6.5 9.5 9.0 6.0 8.5 8.0 5.5 7.5 7.0 5.0 6.5 6.0 4.5 5.5 4.0 5.0 4.5 3.5 4.0 3.5 3.0 3.0 Jan Feb Mar Apr May Jun Jul Aug Sep Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Nov Dec 2023 2024 2025 2023 2024 2025
Slide 16: U.S. Dairy Raw Materials
U.S. Dairy Raw Materials Milk Class III - $/cwt 30 25 20 15 10 5 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2023 2024 2025 Nonfat Dry Milk (NFDM) - US $/Lb 1.5 1.4 1.3 1.2 1.1 1.0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2023 2024 2025 16
Slide 17: Currency Exchange Rates – Monthly Average
Currency Exchange Rates – Monthly Average U.S. Dollar – MXN Peso U.S. Dollar - Euro 24 1.30 23 1.25 22 1.20 21 20 1.15 19 1.10 18 1.05 17 1.00 16 15 0.95 14 0.90 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2023 2024 2025 2023 2024 2025 17
Slide 18: Contact
Contact Hernán F. Lozano V.P. of Investor Relations & Corporate Communications T. +52 (81) 8748-9000 iralfa@alfa.com.mx investorrelations@sigma-alimentos.com Cesar Gomez, CFA, CAIA D.V.P. of Investor Relations T. +52 (81) 8748-9000 iralfa@alfa.com.mx investorrelations@sigma-alimentos.com Carolina Al