Bbb Foods Inc. · NYSE:TBBB
Bbb Foods — Q3 2024 Earnings Presentation
23 slides from Bbb Foods's earnings presentation, Nov 26, 2024
Slide 1: Tiendas 3B Third Quarter 2024 Financial Results
Tiendas 3B Third Quarter 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 • 3Q24 Key Highlights • Operational Performance • Financial Results • Closing Remarks • Q&A 4
Slide 5: 3Q24 - Key Highlights
3Q24 - Key Highlights Opened 131 net new stores in 3Q24 2,634 stores and 16 distribution centers as of 3Q24 Same Store Sales(1) growth of 11.6% compared to 3Q23 Revenue of Ps. 14,834 million, YoY growth of 29.8% EBITDA of Ps. 688 million, YoY growth of 54.0% 9M24 Cash Flow from Operation of Ps. 2,37
Slide 6: Agenda
Agenda • 3Q24 Key Highlights • Operational Performance • Financial Results • Closing Remarks • Q&A 6
Slide 7: Continued Momentum in Store Openings
Continued Momentum in Store Openings Opened 131 net new stores to reach 2,634 stores Number of Stores Units CAGR ’19-YTD24: 20.3% +131 +121 +94 +396 +392 +251 2,634 +153 2,382 2,503 2,288 1,892 1,249 1,500 1,096 2019 2020 2021 2022 2023 1Q24 2Q24 3Q24 7
Slide 8: Rapid Revenue Growth and Increased Gross Margins
Rapid Revenue Growth and Increased Gross Margins Total revenues increased by +29% year-over-year while gross margins flat Total Revenue Ps. MM YoY Growth: 29.8% 14,834 11,425 Total Revenue 15.8% 15.8% Gross Profit Margin 3Q23 3Q24 8
Slide 9: Agenda
Agenda • 3Q24 Key Highlights • Operational Performance • Financial Results • Closing Remarks • Q&A 9
Slide 10: SG&A Expenses
SG&A Expenses Our SG&A expenses as a percentage of revenues have decreased from 13.9% to 13.4% year-over-year SG&A Expenses Ps. MM YoY Growth: 25.1% 13.4% 1,993 13.9% 1,593 3.3% 494 3.3% 374 Administrative Expenses 10.1% 1,499 Sales 10.7% 1,219 Expenses Margin 3Q23 3Q24 10
Slide 11: EBITDA & EBITDA Margin
EBITDA & EBITDA Margin Strong year-over-year increase in EBITDA and EBITDA margin (1) EBITDA Ps. MM YoY Growth: 54.0% 688 447 EBITDA Margin 3.9% 4.6% EBITDA 3Q23 3Q24 11 Notes: 1. We calculate “EBITDA” as net income (loss) for the period, plus income tax expense, financial costs, net, and total depr
Slide 12: Favorable Working Capital
Favorable Working Capital Our business model continues to generate significant negative working capital (1) Working Capital Ps. MM (2) Dec-23 Sep-24 Sep-24 (4) 10.3% 4.0% 10.3% (2,138) (4,559) (3) (5,484) % of Total Revenue Working Capital Adjusted to exclude Adjusted Working Capital net IPO proceed
Slide 13: Agenda
Agenda • 3Q24 Key Highlights • Operational Performance • Financial Results • Closing Remarks • Q&A 13
Slide 14: Closing Remarks
B Closing BB Remarks
Slide 15: Agenda
Agenda • 3Q24 Key Highlights • Operational Performance • Financial Results • Closing Remarks • Q&A 15
Slide 16: Q&A
Q&A
Slide 17: Contact Information
Contact Information Investor Relation Contact: Investor Relation Website: Andrés Villasis https://www.investorstiendas3b.com ir@tiendas3b.com 17
Slide 18: Appendix: Financial Statements
Appendix: Financial Statements
Slide 19: Annex 1 - Income Statement
Annex 1 - Income Statement In Ps. Thousands For the Three Months Ended September 30, For the Nine Months Ended September 30, 2024 2023 % Change 2024 2023 % Change Revenue From Sales of Merchandise Ps. 14,807,698 Ps. 11,399,566 29.9% Ps. 41,014,985 Ps. 31,694,573 29.4% Sales of Recyclables 26,108 25,
Slide 20: Annex 2 - EBITDA Reconciliation
Annex 2 – EBITDA Reconciliation In Ps. Thousands For the Three Months Ended September 30, For the Nine Months Ended September 30, 2024 2023 % Change 2024 2023 % Change Net Profit (Loss) for the Period Ps. 257,600 (Ps. 339,051) n.m. Ps. 357,993 (Ps. 209,169) n.m. Net Profit Margin 1.7% (3.0%) 0.9% (0
Slide 21: Annex 3 - Statement of Cash Flows
Annex 3 - Statement of Cash Flows In Ps. Thousands For the Three Months Ended September 30, For the Nine Months Ended September 30, 2024 2023 2024 2023 Profit (loss) before income tax Ps. 323,472 (Ps.226,260) Ps. 621,026 (Ps.17,666) Adjustments for: Depreciation of property, furniture, equipment, an
Slide 22: Annex 4 - Statement of Financial Position
Annex 4 - Statement of Financial Position In Ps. Thousands As of September 30, As of December 31, 2024 2023 As of September 30, As of December 31, Current liabilities: 2024 2023 Suppliers 7,855,059 7,126,089 Current assets: Accounts payable and accrued expenses 552,826 322,959 Income tax payable 43,
Slide 23: Annex 5 - Reconciliation of Adjusted Working Capital
Annex 5 - Reconciliation of Adjusted Working Capital In Ps. Thousands As of September 30, As of December 31, 2024 2023 Current Assets 8,012,242 4,393,160 Current Liabilities 10,150,693 8,951,941 Working Capital (Ps. 2,138,451) (Ps. 4,558,781) Proceeds from initial public offering, net of underwritin