Sigma Foods, S.a.b. De C.v. · BMV:SIGMAF/A
Sigma Foods, S.a.b. De C.v — Q1 2026 Earnings Presentation
19 slides from Sigma Foods, S.a.b. De C.v's earnings presentation, Apr 24, 2026
Slide 1: 1Q26 Earnings Presentation
1Q26 Earnings Presentation
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: Sigma Foods - 1Q26 Highlights
Sigma Foods - 1Q26 Highlights ● Record first-quarter Volume and Revenues ● 1Q26 Comparable EBITDA up 18% year-on-year (YoY), driven mainly by Mexico and Europe ● Shareholders approved 2026 cash dividends totaling US $150 million ● 2026 Guidance reaffirmed
Slide 4: 1Q26 Highlights by region
1Q26 Highlights by region MEXICO ● All-time high first quarter Volume (+2%), Revenues (+24%), and EBITDA (+21%) ● Retail channels and Dairy category continued driving Volume gains ● 1Q26 EBITDA up 21% YoY reflecting solid execution and a positive FX conversion effect EUROPE ● Quarterly Revenues up 1
Slide 5: Volume growth of 1% versus 1Q25, mainly driven by Mexico and Europe
Volume growth of 1% versus 1Q25, mainly driven by Mexico and Europe Volume Volume Volume (kTons) Δ YoY (kTons) Δ QoQ (kTons) 451 1% -2% 449 446 427 458 451 446 3 -2 1 4 -4 451 -4 2 -1 1Q23 1Q24 1Q25 1Q26 1Q25 Mexico Europe U.S. Latam 1Q26 4Q25 Mexico Europe U.S. Latam 1Q26
Slide 6: Revenue growth driven by selective price actions, Volume, and a favorable currency translation
Revenue growth driven by selective price actions, Volume, and a favorable currency translation Revenues Sigma Foods Revenues Sigma Alimentos Revenues Sigma Alimentos (US $ Million) Δ YoY (US $ Million) Δ QoQ (US $ Million) Sigma Foods Δ +15% Sigma Alimentos -3% 2,372 2,366 2,447 2,204 -3 10 2,091 51
Slide 7: EBITDA of US $260 million in 1Q26 compared with US $271 million in 1Q25
EBITDA of US $260 million in 1Q26 compared with US $271 million in 1Q25, which included non-recurring extraordinary gains EBITDA Sigma Foods EBITDA Sigma Alimentos EBITDA Sigma Alimentos (US $ Million) Δ YoY (US $ Million) Δ QoQ (US $ Million) + - Sigma Foods Δ 19% -8% Sigma Alimentos 284 262 264 27
Slide 8: LTM 1Q26 EBITDA margin improved year-on-year, driven by Europe
EBITDA margin improved 42 basis points year-on-year, driven by Europe EBITDA Margin Sigma Alimentos EBITDA Margin By Region Sigma Alimentos (%) (%) +42bps 15.9 15.5 14.5 14.4 13.0 12.2 11.8 11.6 12.2 12.4 12.7 . . 11.6 11.1 11.5 10.6 * 10.7 10.9 * 10.6 9.7 9.6 10.1 9.9 8.2 8.2 8.7 * * 4.9 3.8 * 4.3
Slide 9: Comparable EBITDA of US $260 million, driven by solid operational performance
Comparable EBITDA of US $260 million, driven by solid operational performance and a favorable currency translation EBITDA Sigma Foods Extraordinary items Sigma Foods Comparable EBITDA Sigma Foods (US $ Million) (US $ Million) (US $ Million) + - Sigma Foods Δ Sigma Alimentos Sigma Foods Margin 271 26
Slide 10: Strong financial position
Strong financial position Net Debt Sigma Foods Net Leverage Ratio Sigma Foods (US $ Million) (Net Debt/EBITDA) 2,832 2.7 2,687 2,709 2,705 2.6 2.6 2.5 2Q25 3Q25 4Q25 1Q26 2Q25 3Q25 4Q25 1Q26 Sigma Foods Sigma Foods
Slide 11: Net Debt up 6% QoQ reflecting investment in Net Working Capital
Net Debt up 6% QoQ reflecting investment in Net Working Capital Change in Net Debt Δ QoQ (US $ Millions) 2,832 2,705 77 0 3 57 66 -260 184 4Q25 EBITDA Net Working Capex Net Financial Taxes Dividends Other 1Q26 Capital Expenses
Slide 12: Recent Developments
Recent Developments Annual Shareholders’ Meeting • Sigma Foods held its Annual Shareholders´ Meeting on March 13, 2026 ₋ US$ 150 million total cash dividends approved for 2026 ₋ Board of Directors and the President of Audit and Corporate Practices Committees were ratified ₋ Maintained maximum amount
Slide 13: Pork ham price in U.S. and Europe
Pork ham price in U.S. and Europe Pork Ham Prices in U.S. - US $/Lb Pork Ham Prices in Europe - Eur/Kg 1.6 4.0 1.5 1.4 1.3 3.5 1.2 1.1 1.0 3.0 0.9 0.8 0.7 0.6 2.5 0.5 0.4 0.3 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 2024 2025 2026 2024 2025
Slide 14: Poultry raw materials in the U.S.
Poultry raw materials in the U.S. Turkey Breast - US $/Lb Turkey Thigh - US $/Lb 8 4 6 3 4 2 2 1 0 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 2024 2025 2026 2024 2025 2026 Chicken (MSC) - US $/Lb Turkey (MST) - US $/Lb 0.40 1.0 0.35 0.8 0.30 0.6
Slide 15: Poultry raw materials in Europe
Poultry raw materials in Europe Chicken Filet - Eur / Kg Turkey Breast - 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 Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2024 2025 2026 2024 2025 2026
Slide 16: U.S. Dairy Raw Materials
U.S. Dairy Raw Materials Milk Class III - $/cwt 30 25 20 15 10 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2024 2025 2026 Nonfat Dry Milk (NFDM) - US $/Lb 2.5 2.0 1.5 1.0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2024 2025 2026
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 2024 2025 2026 2024 2025 2026
Slide 18: Note on changes Consolidated Financial Statements
Note on changes Consolidated Financial Statements On October 24, 2024, Shareholders approved the spin off of the Company’s share ownership in Alpek into a newly listed entity, “Controladora Alpek.” As a result, Alpek met the definition of a Discontinued Operation for purposes of Sigma Foods’ Consoli
Slide 19: Contact
Contact Hernán F. Lozano V.P. of Investor Relations & Corporate Communications IR@SigmaFoods.com Cesar Gomez, CFA, CAIA D.V.P. of Investor Relations IR@SigmaFoods.com Carolina Alvear V.P. of Corporate Communications Communication@SigmaFoods.com