Bbb Foods Inc. · NYSE:TBBB
Bbb Foods — Q4 2024 Earnings Presentation
29 slides from Bbb Foods's earnings presentation, Apr 10, 2025
Slide 1: Tiendas 3B Fourth Quarter & Full-Year 2024 Financial Results
Tiendas 3B Fourth Quarter & Full-Year 2024 Financial Results
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 • 4Q24 & Full-Year 2024 Key Highlights • Operational Performance • Financial Results • 2025 Guidance • Closing Remarks • Q&A 4
Slide 5: 4Q24 & Full-Year 2024 - Key Highlights
4Q24 & Full-Year 2024 - Key Highlights Opened 484 stores, totaling 2,772 stores and 16 distribution centers as of December 2024 4Q24 Same Store Sales (1) growth of 11.8% versus 4Q23 2024 Same Store Sales growth of 13.4% versus 2023 4Q24 revenue of Ps. 16,347 million, 32.7% growth 2024 revenue of Ps.
Slide 6: Agenda
Agenda • 4Q24 and Full-Year 2024 Key Highlights • Operational Performance • Financial Results • 2025 Guidance • Closing Remarks • Q&A 6
Slide 7: Continued Momentum in Store Openings
Continued Momentum in Store Openings Number of Stores Units ‘19-’24 CAGR: 2,772 20.4% 2,288 +484 1,892 +396 1,500 1,249 +392 1,096 +251 +153 2019 2020 2021 2022 2023 2024 Opened a record of 484 net stores in 2024 to reach 2,772 stores, of which 138 were opened during 4Q 7
Slide 8: Total Revenue and Same Store Sales Growth
Total Revenue and Same Store Sales Growth Total Revenue Same Store Sales Growth Ps. MM 57,439 ‘19-’24 CAGR: 32.6% 44,078 +30% 32,580 +35% 23,091 +41% 18,050 +28% 13,994 +29% 2019 2020 2021 2022 2023 2024 18.4% 18.3% 12.3% 21.9% 17.6% 13.4% Total revenues have increased by +30% year-over-year 8
Slide 9: Same Store Sales Growth vs. ANTAD
Same Store Sales Growth vs. ANTAD Same Store Sales Growth Percentage 14.9% 14.8% 11.6% 11.8% 10.7% 6.9% 4.5% 4.0% 3.2% 2.6% 4Q23 1Q24 2Q24 3Q24 4Q24 (1) (2) ANTAD TBBB Our sales performance consistently outpaces the market Source: ANTAD 3-month average. 1. ANTAD uses the sales of stores that have be
Slide 10: Attractive Sales Ramp-Up Evolution
Attractive Sales Ramp-Up Evolution Median Sales per Store Vintage (1) Ps. MM | Median 12-Month Period(2) Sales per Store(3) in Real Terms(4) | Excluding Temporary Closures in Acapulco Sales of each new vintage start higher, and their sales curve is steeper Source: Company information. INEGI 1. “Sale
Slide 11: Sales Driven by Increasing Traffic
Sales Driven by Increasing Traffic 2023 2024 Var % Number of Transactions per store per 25,635 26,821 4.6% month(1) Average Ticket Size (Ps.) (2) Ps. 82.4 Ps. 85.4 3.6% Private Label Sales Products 46.5% 53.6% 710 bps (% of Sales of Merchandise) 1. Stores with five or more years of operations. 11 2.
Slide 12: Agenda
Agenda • 4Q24 & Full-Year 2024 Key Highlights • Operational Performance • Financial Results • 2025 Guidance • Closing Remarks • Q&A 12
Slide 13: SG&A Expenses
SG&A Expenses SG&A Expenses SG&A as % of Revenue Sales Expenses Ps. MM Administrative Expenses 2,474 15.2% 1,746 14.2% 561 3.4% 354 2.9% 1,913 1,392 11.7% 11.3% (1) 4Q23 4Q24 We invested in SG&A to seize market opportunities ahead and prepare for long-term sustainable growth 13 1. Non-recurring expe
Slide 14: EBITDA & EBITDA Margin
EBITDA & EBITDA Margin (1) EBITDA EBITDA Margin Ps. MM YoY Growth: 2,847 51.2% 1,883 YoY Growth: 51.1% (2) 845 559 4Q23 4Q24 2023 2024 4.5% 5.2% 4.3% 5.0% Strong increase in EBITDA and EBITDA margin, with favorable and adverse one-offs 1. We calculate “EBITDA” as net income (loss) for the period, pl
Slide 15: Favorable Working Capital
Favorable Working Capital (1) Working Capital Working Capital ex. % of Total Revenue Ps. MM IPO proceeds (2) Dec-23 Dec-24 Dec-24 (2,633) (4,559) (6,088)(3) Excludes Net IPO proceeds (4) 10.3% 4.5% 10.6% Our business model continues to generate significant negative working capital 1. We calculate Wo
Slide 16: Agenda
Agenda • 4Q24 & Full-Year 2024 Key Highlights • Operational Performance • Financial Results • 2025 Guidance • Closing Remarks • Q&A 16
Slide 17: Guidance 2025
Guidance 2025 Range Same Store Sales Growth (%) 11% - 14% Revenue Growth (%) 26% - 29% Number of New Stores 500 - 550 17
Slide 18: Agenda
Agenda • 4Q24 & Full-Year 2024 Key Highlights • Operational Performance • Financial Results • 2025 Guidance • Closing Remarks • Q&A 18
Slide 19: Closing Remarks
B Closing BB Remarks
Slide 20: Agenda
Agenda • 4Q24 & Full-Year 2024 Key Highlights • Operational Performance • Financial Results • 2025 Guidance • Closing Remarks • Q&A 20
Slide 21: Q&A
Q&A
Slide 22: Contact Information
Contact Information Investor Relation Contact: Investor Relation Website: Andrés Villasis https://www.investorstiendas3b.com ir@tiendas3b.com 22
Slide 23: Appendix: Financial Statements
Appendix: Financial Statements
Slide 24: Annex 1 - Income Statement
Annex 1 - Income Statement In Ps. Thousands 24
Slide 25: Annex 2 – EBITDA Reconciliation
Annex 2 – EBITDA Reconciliation In Ps. Thousands 25
Slide 26: Annex 3 - Statement of Cash Flows
Annex 3 - Statement of Cash Flows In Ps. Thousands 26
Slide 27: Annex 4 - Statement of Financial Position
Annex 4 - Statement of Financial Position In Ps. Thousands 27
Slide 28: Annex 5 - Reconciliation of Working Capital
Annex 5 - Reconciliation of Working Capital In Ps. Thousands 28 1. Considering an exchange rate of Ps. 20.268
Slide 29: Attractive Sales Ramp-Up Evolution
Attractive Sales Ramp-Up Evolution Median Sales per Store Vintage(1) Ps. MM | Median 12-Month Period (2) Sales per Store(3) in Real Terms(4) Sales of each new vintage start higher, and their sales curve is steeper Source: Company information. INEGI 1. 12-month period since opening, excluded month 1.