Sigma Foods, S.a.b. De C.v. · BMV:SIGMAF/A
Sigma Foods, S.a.b. De C.v — Alfa|SIGMA — Q2 2025 Earnings Presentation
18 slides from Sigma Foods, S.a.b. De C.v's earnings presentation, Jul 1, 2025
Slide 1: 2Q25 Earnings Presentation
2Q25 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: Transformation finalized; ALFA focused on SIGMA
Transformation finalized; ALFA focused on SIGMA Alfa shares started trading as a pure-play, packaged food business on April 7th Global Industry Classification Standard (GICS) changed to “Consumer Staples”, aligned with corporate transformation Advancing preparations to change Alfa’s name and t
Slide 5: Alfa|SIGMA reports 2Q25 EBITDA of US $305 million; YTD EBITDA of US $576 million
Alfa|SIGMA reports 2Q25 EBITDA of US $305 million; YTD EBITDA of US $576 million, with non-recurring items United States Mexico • Record quarterly Volume and Revenue • Second-highest 2Q Revenue and Volume supported by National and Hispanic brands • Currency-neutral EBITDA down 5%, mainly • EBITDA up
Slide 6: Resilient volume and effective revenue management amid higher protein input costs
Resilient volume and effective revenue management amid higher protein input costs and Mexican Peso depreciation Volume SIGMA Volume SIGMA – Δ YoY Volume SIGMA - Δ QoQ (kTons) (kTons) (kTons) 0% 3% 462 460 462 445 448 460 460 -1 0 -2 1 0 446 2 10 3 2Q22 2Q23 2Q24 2Q25 2Q24 Mexico Europe U.S. Latam 2Q
Slide 7: Revenue driven by resilient volume and effective revenue management
Revenue driven by resilient volume and effective revenue management Revenues Alfa|SIGMA Revenues SIGMA – Δ YoY Revenues SIGMA - Δ QoQ (US $ Million) (US $ Million) (US $ Million) +1% 10% Alfa Δ 2,297 2,270 2,270 2,277 SIGMA 2,171 2 2,246 5 4 35 1,894 2,064 76 -12 27 93 2,143 2,246 2,270 1,870 2Q22 2
Slide 8: 2Q25 EBITDA of US $305 million includes non-recurring gain of US $64 million
2Q25 EBITDA of US $305 million includes non-recurring gain of US $64 million from Torrente property damage reimbursements EBITDA Alfa|SIGMA EBITDA SIGMA – Δ YoY EBITDA SIGMA - Δ QoQ (US $ Million) (US $ Million) (US $ Million) 12% 42% + - Alfa Δ 312 312 312 SIGMA 279 0 -3 3 -1 279 217 -31 67 220 77
Slide 9: EBITDA Margin expanded quarter-on-quarter, driven by efforts to offset cost pressures
EBITDA Margin* expanded 25 basis points, quarter-on-quarter, driven by ongoing efforts to offset cost pressures EBITDA Margin SIGMA EBITDA Margin By Region SIGMA (%) (%) 12.2 12.4 12.7 15.5 15.9 11.5 14.7 * 10.1 10.6 10.3 10.7 10.9 12.4 13.0 12.7 9.6 11.6 8.1 8.5 10.5 9.7 8.7 8.8 8.9 * * 3.8 3.7 2.1
Slide 10: 2Q25 Comparable EBITDA of US $246 million
2Q25 Comparable EBITDA of US $246 million, reflects FX conversion effect and higher-than-expected protein input costs EBITDA Alfa|SIGMA Extraordinary items Alfa|SIGMA Comparable EBITDA Alfa|SIGMA (US $ Million) (US $ Million) (US $ Million) + - Alfa Δ SIGMA SIGMA EBITDA Margin 312 281 281 271 248 3Q
Slide 11: 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) 2,988 2.9 2,596 2,687 2.6 2.6 2,471 2.5 3Q24 4Q24 1Q25 2Q25 3Q24 4Q24 1Q25 2Q25 Alfa|SIGMA Alfa|SIGMA Alpek reported as discontinued operations 11
Slide 12: Alfa|SIGMA change in Net Debt 2Q25 vs. 1Q25
Alfa|SIGMA change in Net Debt 2Q25 vs. 1Q25 95 2,687 2,596 305 84 52 64 61 39 1Q25 EBITDA Net Working Capex Net Financial Taxes Dividends Other 2Q25 Capital Expenses 12
Slide 13: Recent Developments
Recent Developments “Torrente” Spain Production Capacity Recovery Plan • Includes projects for the construction of a new packaged meats plant in Valencia and for a capacity expansion in “La Bureba” plant (Castilla y León) • Estimated investment of €134 million in Valencia and €23 million for “La Bur
Slide 14: 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 1.5 4.0 1.3 3.5 1.1 0.9 3.0 0.7 2.5 0.5 0.3 2.0 0.1 1.5 -0.1 Jan Feb Mar May Jun Aug Sep Oct Dec Jan Feb Apr Jun Jul Sep Oct Dec 2022 2023 2024 2025 2022 2023 2024 2025 14
Slide 15: Poultry raw materials in U.S.
Poultry raw materials in U.S. Turkey Breast - US $/Lb Turkey (MST) - US $/Lb 8 0.9 7 0.8 6 0.7 5 0.6 0.5 4 0.4 3 0.3 2 0.2 1 0.1 0 0 Jan Feb Mar May Jun Aug Sep Oct Dec Jan Feb Mar May Jun Aug Sep Oct Dec 2022 2023 2024 2025 2022 2023 2024 2025 Chicken (MSC) - US $/Lb Turkey Thigh - US $/Lb 0.6 3 0.
Slide 16: U.S. Dairy Raw Materials
U.S. Dairy Raw Materials Milk Class III - $/cwt 30 25 20 15 10 5 0 Jan Feb Mar May Jun Aug Sep Oct Dec 2022 2023 2024 2025 Nonfat Dry Milk (NFDM) - US $/Lb 2.1 1.9 1.7 1.5 1.3 1.1 0.9 0.7 0.5 Jan Feb Mar May Jun Aug Sep Oct Dec 2022 2023 2024 2025 16
Slide 17: Currency Exchange Rates
Currency Exchange Rates U.S. Dollar – MXN Peso U.S. Dollar - Euro 1.20 22 21 1.15 20 1.10 19 18 1.05 17 1.00 16 0.95 15 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2022 2023 2024 2025 2022 2023 2024 2025 17
Slide 18: Contact
Contact Hernán F. Lozano V.P. of Investor Relations T. +52 (81) 8748-2521 iralfa@alfa.com.mx 18