Sigma Foods, S.a.b. De C.v. · BMV:SIGMAF/A
Sigma Foods, S.a.b. De C.v — Q2 2025 Earnings Presentation
32 slides from Sigma Foods, S.a.b. De C.v's earnings presentation, Jul 24, 2025
Slide 1: Earnings Report Second Quarter 2025
EARNINGS REPORT Second Quarter 2025 (2Q25) Monterrey, N.L., Mexico, July 23, 2025. ALFA, S.A.B. de C.V. (BMV: ALFAA) (“ALFA”, “Alfa|SIGMA”), a company that has simplified its corporate structure to fully focus on Sigma Alimentos, S.A. de C.V. (“SIGMA”), a leading multinational branded food business,
Slide 2: Important notes on changes to Consolidated Financial Statements
Earnings Report Second Quarter 2025 (2Q25) Important notes 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
Slide 3: 2Q25 Highlights
Earnings Report Second Quarter 2025 (2Q25) Alfa|SIGMA reports 2Q25 EBITDA of US $305 million; YTD EBITDA of US $576 million, with non-recurring items 2Q25 HIGHLIGHTS ALFA shares started trading as a pure-play, branded food business on April 7th Alfa|SIGMA Global Industry Classification Standard
Slide 4: Selected Financial Information
Earnings Report Second Quarter 2025 (2Q25) SELECTED FINANCIAL INFORMATION (US $ MILLION) (%) 2Q25 vs. 2Q25 1Q25 2Q24 1Q25 2Q24 2025 2024 Ch.% Volume SIGMA (kTons) 460 446 462 3 0 906 911 (1) Mexico 247 245 248 1 0 492 492 0 Europe 90 89 92 2 (2) 179 184 (3) United States 95 85 94 12 1 180 182 (1) La
Slide 5: Contents
Earnings Report Second Quarter 2025 (2Q25) Contents Message from ALFA’s Chairman & CEO Message from SIGMA’s CEO Consolidated Financial Results Alfa|SIGMA (BMV: ALFAA) & SIGMA Tables Financial Statements iralfa@alfa.com.mx 5 www.alfa.com.mx + (52) 81-8748-2521
Slide 6: Message from ALFA's Chairman & CEO
Earnings Report Second Quarter 2025 (2Q25) Message from ALFA’s Chairman & CEO “The second quarter represented a significant milestone for Alfa|SIGMA, which started trading as a pure-play branded food business on April 7th. Moreover, its positive share price revaluation trend continued during 2Q25 su
Slide 7: Message from SIGMA's CEO
Earnings Report Second Quarter 2025 (2Q25) Message from SIGMA’s CEO “SIGMA’s overall performance in the second quarter reflects solid execution by our teams. Consolidated results throughout the first half of 2025 have exhibited resilient volume and positive sequential momentum in Sales and EBITDA th
Slide 8: Alfa|SIGMA Consolidated Financial Results
Earnings Report Second Quarter 2025 (2Q25) Alfa|SIGMA (BMV: ALFAA) Consolidated Financial Results INCOME STATEMENT (US $ MILLION) (%) 2Q25 vs. 2Q25 1Q25 2Q24 1Q25 2Q24 2025 2024 Ch.% Revenues 2,297 2,091 2,277 10 1 4,388 4,480 (2) Gross Profit 678 623 745 9 (9) 1,301 1,461 (11) Operating Expenses an
Slide 9: Consolidated results commentary
Earnings Report Second Quarter 2025 (2Q25) Comprehensive Financing Expense (CFE) resulted in income of US $12 million in 2Q25 primarily driven by a foreign exchange gain stemming from the appreciation of the Mexican Peso against the U.S. Dollar since the close of 1Q25. Accumulated CFE of US $57 mill
Slide 10: Change in Net Debt
Earnings Report Second Quarter 2025 (2Q25) CHANGE IN NET DEBT (US $ MILLION) (%) 2Q25 vs. 2Q25 1Q25 2Q24 1Q25 2Q24 2025 2024 Ch.% EBITDA 305 271 270 13 13 576 524 10 Net Working Capital (39) (225) (49) (83) (20) (264) (172) 53 Capital Expenditures & (61) (47) (45) 30 36 (108) (86) 26 Acquisitions Ne
Slide 11: Overview of SIGMA Financial Results
Earnings Report Second Quarter 2025 (2Q25) Overview of SIGMA Financial Results INCOME STATEMENT (US $ MILLION) (%) 2Q25 vs 2Q25 1Q25 2Q24 1Q25 2Q24 2025 2024 Ch.% Volume (ktons) 460 446 462 3 0 906 911 (1) Total Revenues 2,270 2,064 2,246 10 1 4,334 4,416 (2) Gross Profit 668 612 734 9 (9) 1,281 1,4
Slide 12: SIGMA results commentary
Earnings Report Second Quarter 2025 (2Q25) Operating Income was US $243 million in 2Q25, up 12% year-on-year mainly driven by the EBITDA increase explained above. Accumulated Operating Income was US $406 million, 4% lower year-on- year reflecting a decrease in EBITDA. Comprehensive Financing Expense
Slide 13: SIGMA Change in Net Debt
Earnings Report Second Quarter 2025 (2Q25) CHANGE IN NET DEBT (US $ MILLION) (%) 2Q25 vs 2Q25 1Q25 2Q24 1Q25 2Q24 2025 2024 Ch.% EBITDA 312 220 279 42 12 532 542 (2) Net Working Capital (32) (209) (48) (85) (32) (241) (142) 69 Capital Expenditures & (60) (47) (43) 28 40 (107) (81) 33 Acquisitions Ne
Slide 14: Industry Comments - SIGMA
Earnings Report Second Quarter 2025 (2Q25) INDUSTRY COMMENTS - SIGMA Consumer Confidence and Retail Sales Mexico Average consumer confidence (as per INEGI 1) was 45.8 points in 2Q25, down 3% year-on-year and 1% quarter-on-quarter. Inflation averaged 4.2% through May 2025, 60 basis-points lower w
Slide 15: Exchange Rate
Earnings Report Second Quarter 2025 (2Q25) Exchange Rate When compared against the U.S. dollar, the average 2Q25 exchange rate for the Mexican peso increased 14%, while the euro strengthened 5% year-on-year. Furthermore, SIGMA’s Latam currencies (outside Mexico) experienced a net appreciation of app
Slide 16: Results by Region - SIGMA
Earnings Report Second Quarter 2025 (2Q25) RESULTS BY REGION - SIGMA During 2Q25, Mexico accounted for 48% of total Revenues; followed by Europe at 26%; the U.S. at 19%; and Latam at 7%. The analysis below presents performance by region based on local currency results. Mexico 2Q25 Revenues were up 1
Slide 17: Recent Developments – Alfa|SIGMA
Earnings Report Second Quarter 2025 (2Q25) RECENT DEVELOPMENTS – Alfa|SIGMA Announced comprehensive plan to permanently recover Sigma’s production capacity in Spain and reinforce its competitiveness in Europe – Includes projects for the construction of a new packaged meats plant in Valencia and fo
Slide 18: Open Innovation
Earnings Report Second Quarter 2025 (2Q25) Open Innovation Tastech by SIGMA® received 100+ startup applications from 15 countries in 2Q25. Growth Collaborating with participating start-ups across 4 manufacturing plants in Business Unit Latin America to enhance operational efficiencies. Two str
Slide 19: Alpek – Petrochemicals
Earnings Report Second Quarter 2025 (2Q25) Alpek (BMV: ALPEKA) – PETROCHEMICALS In accordance with International Financial Reporting Standards (IFRS), ALFA’s Consolidated Results account for Alpek as Discontinued Operations due to the spin-off of the business. Detailed operational and financial figu
Slide 20: 2Q25 Earnings Call Information
Earnings Report Second Quarter 2025 (2Q25) 2Q25 EARNINGS CALL INFORMATION Date: Thursday, July 24, 2025 Time: 2:00 p.m. EDT (NY) / 12:00 p.m. CST (CDMX) Registration: Webinar Registration - Zoom Replay: https://www.alfa.com.mx/en/events/ iralfa@alfa.com.mx 20 www.alfa.com.mx + (52) 81-8748-2521
Slide 21: About Alfa|SIGMA
Earnings Report Second Quarter 2025 (2Q25) About Alfa|SIGMA Alfa|SIGMA has simplified its corporate structure to concentrate on SIGMA, a leading multinational food company that focuses on the production, marketing, and distribution of quality foods through recognized brands in Mexico, Europe, the Un
Slide 22: Tables
Earnings Report Second Quarter 2025 (2Q25) Tables Alfa|SIGMA Table 1 | VOLUME AND PRICE CHANGES (%) 2Q25 vs. 2025 vs. 1Q25 2Q24 2024 Total Volume 3.2 (0.4) (0.6) Domestic Volume 1.0 (0.4) 0.1 International Volume (5.8) (0.4) (1.3) Avg. Ps. $ Prices 2.0 15.3 15.2 Avg. US $ Prices 6.5 1.5 (1.3) Table
Slide 23: Tables: Extraordinary Items and Comparable EBITDA
Earnings Report Second Quarter 2025 (2Q25) Table 4 | EXTRAORDINARY ITEMS (US $ MILLION) Company Extraordinary item 2Q25 1Q25 2Q24 2025 2024 SIGMA Torrente plant (Spain) insurance 64 0 0 64 0 Energy & Write-offs and Non-recurring items (5) 55 0 50 0 Others Discontinued operation accounting (Alpek) 0
Slide 24: Statement of Financial Position & Financial Ratios
Earnings Report Second Quarter 2025 (2Q25) Table 8 | STATEMENT OF FINANCIAL POSITION & FINANCIAL RATIOS (US $ MILLION) (%) 2Q25 vs. 2Q25 1Q25 2Q24 1Q25 2Q24 Assets Cash And Cash Equivalents 562 493 1,181 14 (52) Trade Accounts Receivable 496 449 1,341 10 (63) Inventories 1,139 1,002 2,431 14 (53) Cu
Slide 25: SIGMA Tables
Earnings Report Second Quarter 2025 (2Q25) SIGMA Table 9 | SIGMA - VOLUME AND PRICE CHANGES (%) 2Q25 vs. 2025 vs. 1Q25 2Q24 2024 Total Volume 3.2 (0.4) (0.6) Avg. Ps. $ Prices 2.0 15.3 15.2 Avg. US $ Prices 6.5 1.5 (1.3) Table 10 | SIGMA – REVENUES AND EBITDA IN LOCAL CURRENCY (%) 2Q25 vs. 2Q25 1Q25
Slide 26: SIGMA Statement of Financial Position & Financial Ratios
Earnings Report Second Quarter 2025 (2Q25) Table 13 | SIGMA - STATEMENT OF FINANCIAL POSITION & FINANCIAL RATIOS (US $ MILLION) (%) 2Q25 vs. 2Q25 1Q25 2Q24 1Q25 2Q24 Assets Cash And Cash Equivalents 476 406 721 17 (34) Trade Accounts Receivable 480 431 428 11 12 Inventories 1,117 980 987 14 13 Other
Slide 27: Alpek Discontinued Operations
Earnings Report Second Quarter 2025 (2Q25) Alpek Table 14 | STATEMENT OF FINANCIAL POSITION DISCONTINUED OPERATIONS – ALPEK (US $ MILLION) 2Q25 1Q25 2Q24 Current Assets 0 2,753 0 Non-Current Assets 0 3,158 0 Total assets 0 5,911 0 Current Liabilities 0 1,749 0 Non-Current Liabilities 0 2,399 0 Total
Slide 28: Financial Statements: ALFA Balance Sheet
Earnings Report Second Quarter 2025 (2Q25) Financial Statements ALFA, S.A.B. de C.V. and Subsidiaries BALANCE SHEET Information in millions of Nominal Mexican Pesos (%) Jun25 vs. ASSETS Jun25 Mar25 Jun24 Mar25 Jun24 CURRENT ASSETS: Cash and Cash Equivalents 10,609 10,025 21,695 6 (51) Trade Accounts
Slide 29: ALFA Income Statement
Earnings Report Second Quarter 2025 (2Q25) ALFA, S.A.B. de C.V. and Subsidiaries INCOME STATEMENT Information in millions of Nominal Mexican Pesos (%) 2Q25 vs. 2Q25 1Q25 2Q24 1Q25 2Q24 Net Sales 44,881 42,705 39,149 5 15 Domestic 21,989 21,036 19,550 5 12 International 22,892 21,670 19,599 6 17 Cost
Slide 30: SIGMA Alimentos Balance Sheet
Earnings Report Second Quarter 2025 (2Q25) SIGMA Alimentos, S.A. de C.V. and Subsidiaries BALANCE SHEET Information in millions of Nominal Mexican Pesos (%) Jun 25 vs. ASSETS Jun 25 Mar 25 Jun 24 Mar 25 Jun 24 CURRENT ASSETS: Cash And Cash Equivalents 8,985 8,249 13,244 9 (32) Restricted Cash 17 18
Slide 31: SIGMA Alimentos Income Statement
Earnings Report Second Quarter 2025 (2Q25) SIGMA Alimentos, S.A. de C.V. and Subsidiaries INCOME STATEMENT Information in millions of Nominal Mexican Pesos (%) 2Q25 vs. 2Q25 1Q25 2Q24 1Q25 2Q24 Revenue 44,348 42,153 38,615 5 15 Cost of Sales (31,285) (29,645) (26,002) 6 20 Gross Profit 13,063 12,508
Slide 32: Earnings Report Second Quarter 2025 (2Q25)
Earnings Report Second Quarter 2025 (2Q25) iralfa@alfa.com.mx 32 www.alfa.com.mx + (52) 81-8748-2521