Throughout our history, we have strived to look further, to look beyond the present…
…and anticipate the opportunities available to us in markets around the world, establishing Grupo Bimbo as the world’s leading baking company.
We have learned to look closely at our consumers in their homes and at the point of sale, for opportunities that a global economy has to offer, and at the evolution that this planet and the talent of new generations demand.
In 2019, looking further produced several accomplishments:
- We achieved revenue of 292 billion pesos, grew EBITDA by 5.4% with good performance in most regions, expanded by 40 basis points our return on equity and continued to de-lever our balance sheet.
- We strategically leveraged successful products, replicating them in other geographies, like Little Bites in 5 countries and Pinguinos in 18 countries.
- We continued to invest in our health and wellness portfolio, implementing new nutritional guidelines and clean label solutions, such as our “No Added Nonsense” Oroweat bread in the U.S.
- We focused on having the right portfolio of brands and products in every market; in 2019 Sara Lee became a billion-dollar brand and Takis became a 500 million-dollar brand.
- We captured growth opportunities, by integrating strategic acquisitions like Mankattan in China and Nutrabien in Chile.
- We invested nearly US$680 million in capital expenditures, focused on increasing our production efficiency and capacity, streamlining our distribution network with one state of the art distribution center in Mexico City as well as targeted IT investments such as the implementation of Oracle in the cloud.
- We made investments such as electric and hybrid vehicles to decrease emissions, also in biodegradable and compostable packaging to reduce our environmental footprint, as well as in projects to diminish our water footprint and in waste management throughout our supply chain.
“We are commited to the planet, that is the reason for our concern with technological developments aimed at reducing emissions with electric and hybrid vehicles, in biodegradable and compostable packaging”
As we begin 2020, we are pursuing the following initiatives:
- We are re-inventing our go-to-market strategy, optimizing our direct store distribution network to serve new profitable channels.
- We are leveraging technology, by:
- Utilizing our route to market platform to drive productivity and improve execution at the point of sale.
- Harnessing revenue growth management tools to maximize our revenue and market share, and
- Developing advanced analytics capabilities to enable data driven decisions.
- We are putting in place cost control efforts to reduce our selling, general and administrative expenses by:
- Requiring Zero Based Budgeting.
- Scaling-up global procurement.
- Proactively investing in restructuring opportunities.
- Deploying digital tools throughout our supply chain.
- We continue to attract and develop talent, valuing our associates as the center of our culture, investing in the development of their capabilities, reinforcing our safety measures and promoting diversity and gender equality.
- We promote the well-being of society through projects that encourage physical activity, healthy lifestyles and eating.
- We reinforce our ongoing commitment to our stakeholders, our communities, the planet, and to the ten principles of the United Nations Global Compact, as well as to the 17 Sustainable Development Goals of the United Nations Development Program.
I am pleased with how we have started 2020. However, we are now facing a very challenging global environment in the midst of the COVID-19 pandemic. Is certainly the most serious health crisis we have ever faced.
We have a great responsibility with our millions of customers and consumers: reinforce our commitment within our Beliefs, Purpose, and Mission to keep nourishing a better world.
We sincerely thank our more than 133,000 associates for their engagement and commitment. Grupo Bimbo has a bright future full of opportunities; as we look further, we will continue to transform ourselves in order to capture them and better serve our consumers all over the world.
Thank you for your support and trust.