Bbb Foods Inc. · NYSE:TBBB
Bbb Foods — Q1 2024 Earnings Presentation
22 slides from Bbb Foods's earnings presentation, May 22, 2024
Slide 1: Tiendas 3B First Quarter 2024 Financial Results
Tiendas 3B First Quarter 2024 Financial Results May 2024
Slide 2: Disclaimer
Disclaimer Statements in this presentation, including the possible or assumed future or other performance of BBB Foods Inc. (the “Company”, “we”, “us”, “our”) or our industry, our targets or other trends and estimates, constitute “forward- looking statements”. Statements contained herein that are no
Slide 3: Today's Presenters
Today’s Presenters Anthony Hatoum Chairman and CEO Eduardo Pizzuto CFO 3
Slide 4: Agenda
Agenda • 1Q24 Key Highlights • Operational Performance • Financial Results • Closing Remarks • Q&A 4
Slide 5: 1Q24 - Key Highlights
1Q24 - Key Highlights Opened 94 stores and 1 distribution center in 1Q24 2,382 stores and 15 distribution centers as of 1Q24 Same Store Sales(1) growth of 14.8% Revenue of Ps. 12,684 million, YoY growth of 30.9%. EBITDA of Ps. 626 million, YoY growth of 57.9% Cash Flow from Operations Ps. 802 millio
Slide 6: Agenda
Agenda • 1Q24 Key Highlights • Operational Performance • Financial Results • Closing Remarks • Q&A 6
Slide 7: Continued Momentum in Store Openings
Continued Momentum in Store Openings Opened 94 net new stores to reach 2,382 stores, aligned with FY guidance of 380-420 Number of Stores Units +94 +396 +392 +251 +153 2,288 2,382 1,892 1,096 1,249 1,500 2019 2020 2021 2022 2023 1Q24 7
Slide 8: Rapid Revenue Growth and Increased Gross Margins
Rapid Revenue Growth and Increased Gross Margins Total revenues +30% year-over-year while gross margin boosted by scale Total Revenue Ps. MM YoY Growth: 30.9% 12,684 9,692 15.5% 16.3% Gross Profit Margin 1Q23 1Q24 8
Slide 9: Agenda
Agenda • 1Q24 Key Highlights • Operational Performance • Financial Results • Closing Remarks • Q&A 9
Slide 10: EBITDA & EBITDA Margin
EBITDA & EBITDA Margin Year-over-year increase in profitability despite one-off expenses and adjustments (1) EBITDA Ps. MM Adjusted for one-time, IPO-related expenses YoY Growth: +70 57.9% (2) 626 695 396 EBITDA Margin (3) 4.9% 5.5% Adjusted 4.1% EBITDA 1Q23 1Q24 1Q24 Notes: 1. We calculate “EBITDA”
Slide 11: Favorable Working Capital
Favorable Working Capital Our business model continues to generate significant negative working capital (1) Working Capital Ps. MM (2) (3) 2023 1Q24 1Q24 (4) % of Total 10.3% 4.1% 10.3% Revenue (1,929) Adjusted Working Capital (4,559) (4,846) Excluding IPO proceeds, net of cash used for promissory a
Slide 12: Agenda
Agenda • 1Q24 Key Highlights • Operational Performance • Financial Results • Closing Remarks • Q&A 12
Slide 13: Closing Remarks
B Closing BB Remarks
Slide 14: Agenda
Agenda • 1Q24 Key Highlights • Operational Performance • Financial Results • Closing Remarks • Q&A 14
Slide 15: Q&A
Q&A
Slide 16: Contact Information
Contact Information Investor Relation Contact: Investor Relation Website: Andrés Villasis https://www.investorstiendas3b.com ir@tiendas3b.com 16
Slide 17: Appendix: Financial Statements
Appendix: Financial Statements
Slide 18: Annex 1 - Income Statement
Annex 1 - Income Statement In Ps. Thousands For the Three Months Ended March 31, 2024 2023 % Change Revenue From Sales of Merchandise Ps. 12,656,885 Ps. 9,670,069 30.9% Sales of Recyclables 27,363 21,831 25.3% Total Revenue 12,684,248 9,691,900 30.9% Cost of Sales (10,622,075) (8,186,852) 29.7% Gros
Slide 19: Annex 2 - Non-IFRS Financial Measures
Annex 2 - Non-IFRS Financial Measures In Ps. Thousands For the Three Month Period Ended March 31, 2024 2023 % Net Loss for the Period Ps.(230,862) Ps.58,832 n.m. Net Profit Margin (1.8%) 0.6% Income Tax Expense (85,076) (6,022) (80.9%) Financial Cost - Net (469,015) (67,811) n.m. D&A 302,542 263,629
Slide 20: Annex 3 - Statement of Cash Flows
Annex 3 - Statement of Cash Flows In Ps. Thousands For the Three Months Ended March 31, 2024 2023 (Loss) profit before income tax Ps. (145,786) Ps. 64,854 Adjustments for: Depreciation of property and equipment 140,037 110,114 Depreciation of right-of-use assets 161,837 152,862 Amortization of intan
Slide 21: Annex 4 - Statement of Financial Position
Annex 4 - Statement of Financial Position In Ps. Thousands As of December As of December As of March 31, As of March 31, 31, 31, 2024 2023 2024 2023 Current assets: Current liabilities: Cash and cash equivalents Ps. 4,292,958 Ps. 1,220,471 Suppliers Ps. 7,213,388 Ps. 7,126,089 Sundry debtors 44,691
Slide 22: Annex 5 - Reconciliation of Working Capital
Annex 5 - Reconciliation of Working Capital In Ps. Thousands As of March 31, As of December 31, 2024 2023 Current Assets 7,390,187 4,393,160 Current Liabilities (9,319,590) (8,951,941) Working Capital Ps. (1,929,403) Ps. (4,558,781) Proceeds from initial public offering, net of underwriting fees Ps.