Sigma Foods, S.a.b. De C.v. · BMV:SIGMAF/A
Sigma Foods, S.a.b. De C.v — Q2 2026 Earnings Presentation
19 slides from Sigma Foods, S.a.b. De C.v's earnings presentation, July 2026
Slide 1: 2Q26 Earnings Presentation
2Q26 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 - 2Q26 Highlights
Sigma Foods - 2Q26 Highlights ● Record 2Q Volume (+1%), Revenues (+6%), and Comparable EBITDA (+17%) ● YTD Comparable EBITDA of US $548 million on track to reach US $1.1 billion Guidance ● Paid first dividend installment of US $76 million, as approved by Shareholders
Slide 4: 2Q26 Highlights by region
2Q26 Highlights by region MEXICO ● All-time high 2Q Volume (+2%), Revenues (+15%), and EBITDA (+25%) ● Retail channels, Dairy and value-oriented packaged meat brands driving volume gains ● In local currency, 2Q26 EBITDA was up 11%, supported by improved price-cost alignment EUROPE ● Comparable 2Q26
Slide 5: Volume growth of 1% versus 2Q25, driven by Mexico, Europe and Latam
Volume growth of 1% versus 2Q25, driven by Mexico, Europe and Latam Volume Volume Volume (kTons) Δ YoY (kTons) Δ QoQ (kTons) 2% 462 460 463 1% 448 463 460 463 0 1 -3 1 4 451 3 -1 10 2Q23 2Q24 2Q25 2Q26 2Q25 Mexico Europe U.S. Latam 2Q26 1Q26 Mexico Europe U.S. Latam 2Q26
Slide 6: Revenue growth driven primarily by Volume and favorable currency translation in Mexico
Revenue growth driven primarily by Volume and favorable currency translation in Mexico Revenues Sigma Foods Revenues Sigma Alimentos Revenues Sigma Alimentos (US $ Million) Δ YoY (US $ Million) Δ QoQ (US $ Million) Sigma Foods Δ +7% 3% Sigma Alimentos 2,435 2,428 2,428 2,277 2,297 2,171 -13 -3 10 2
Slide 7: EBITDA of US $296 million in 2Q26 compared with US $305 million in 2Q25
EBITDA of US $296 million in 2Q26 compared with US $305 million in 2Q25, which included property damage insurance reimbursements in Europe EBITDA Sigma Foods EBITDA Sigma Alimentos EBITDA Sigma Alimentos (US $ Million) Δ YoY (US $ Million) Δ QoQ (US $ Million) + - Sigma Foods Δ -7% 10% Sigma Aliment
Slide 8: Comparable EBITDA of US $288 million, driven by improved price-cost alignment
Comparable EBITDA of US $288 million, driven by improved price-cost alignment and favorable currency translation EBITDA Sigma Foods Extraordinary items Sigma Foods Comparable EBITDA Sigma Foods (US $ Million) (US $ Million) (US $ Million) EBITDA EBITDA EBITDA Margin EBITDA Margin 17% 305 296 288 247
Slide 9: Comparable EBITDA per ton increased 16% year-on-year
Comparable EBITDA per ton increased 16% year-on-year, driven by Mexico, Europe and Latam Comparable EBITDA Comparable EBITDA Margin By Region (% of Revenue and U.S. dollars per ton) (%) 15.7 15.5 15.9 14.4 14.6 14.5 14.7 13.8 +16% 14.0 12.4 13.0 12.2 623 11.6 11.5 619 10.8 576 10.5 536 540 9.7 494 9
Slide 10: Comparable EBITDA per ton
Comparable EBITDA per ton Mexico Europe U.S. Latam (Ps. $ per Ton) (EUR € per Ton) (US $ per Ton) (US $ per Ton) +9% +26% +7% -4% 13,778 552 12,616 222 209 584 559 436 2Q25 2Q26 2Q25 2Q26 2Q25 2Q26 2Q25 2Q26
Slide 11: Solid financial position
Solid financial position Net Debt Sigma Foods Net Leverage Ratio Sigma Foods (US $ Million) (Net Debt/EBITDA) 2,910 2.7 2.7 ‘BBB’ 2,832 2.6 Outlook Stable 2,709 2,705 2.5 ‘BBB’ Outlook Stable 3Q25 4Q25 1Q26 2Q26 3Q25 4Q25 1Q26 2Q26 ‘Baa3’ Outlook Stable
Slide 12: Net Debt up 3% QoQ mainly reflecting a non-cash foreign exchange conversion effect
Net Debt up 3% QoQ mainly reflecting a non-cash foreign exchange conversion effect Change in Net Debt Δ QoQ (US $ Millions) 2,832 2,910 76 78 71 57 -296 -7 99 1Q26 EBITDA Net Working Capex Net Financial Taxes Dividends Other 2Q26 Capital Expenses
Slide 13: Recent Developments
Recent Developments Brand Equity • Rebranded the flagship FUD brand to FUT for a limited-time campaign in Mexico tied to the international soccer tournament; supported by limited edition products designed for match-day consumption • Sigma positioned among the top 4 most chosen FMCG companies in Spai
Slide 14: 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 15: 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 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
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