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Industrias Bachoco reported a strong financial performance for 4Q21 and FY2021, with net sales increasing by 15.9% in 4Q and 18.8% for the year. Despite a challenging second half impacting profitability, EBITDA margins remained at 4.1% for the quarter and 9.0% for the year. The company faced rising costs, with a 27.8% increase in cost of sales compared to 4Q20. Net income fell to $648.2 million for the quarter, down 38.4% year-over-year. Bachoco's solid cash position of $20.7 billion supports ongoing growth plans, including the recent acquisition of RYC Alimentos.
Industrias Bachoco S.A.B. de C.V. has completed the acquisition of RYC Alimentos, a meat processor and distributor in Puebla, Mexico. This deal includes two plants and approximately 21 stores across four states, valued at about
Industrias Bachoco S.A.B. de C.V. (NYSE: IBA; BMV: Bachoco) announced it has received approval from Mexican Antitrust Authorities (COFECE) to purchase 100% of RYC Alimentos, a leading meat processor and distributor. This acquisition will enhance Bachoco's market presence and operational capacity. Founded in 1983, RYC serves all distribution channels and employs over 900 staff. The deal marks the conclusion of the approval process initiated in December 2020 and is set to close imminently, with integration efforts to follow.
Industrias Bachoco (NYSE: IBA) reported its 3Q21 and 9M21 financial results, showing a 10.6% increase in net sales for the quarter, totaling $20,229 million, driven primarily by higher prices across business lines. However, the company faced challenges with a gross profit decline of 18% to $2,610 million, mainly due to surging costs for corn and soybean meal, which rose 16.6% compared to 3Q20. Despite the challenges, the net cash position reached $18,269.7 million, supporting ongoing growth plans.
Industrias Bachoco announced that Mr. Daniel Salazar Ferrer has been designated as the secretary of the Board of Directors during the Shareholder Meeting held on September 22, 2021. Mr. Salazar, who is currently the Chief Financial Officer, has been with Bachoco since 2000 and has served in his current role since January 2003. Bachoco is Mexico's leading poultry producer and listed on both the NYSE and BMV. The company maintains a strong operational infrastructure with over 29,000 employees and holds a AAA credit rating in Mexico.
Industrias Bachoco (NYSE: IBA) reported strong financial results for Q2 and H1 2021. Net sales surged by 27% to $20,860.9 million in Q2, driven by higher prices and sales volume. The company achieved a gross margin of 19% and an EBITDA margin of 11.7%, significantly improving from 2.7% in Q2 2020. Operating income reached $2,088.8 million, compared to $82.8 million last year. Net income was $1,443.2 million, marking a recovery from a loss of $28.2 million in Q2 2020. Total assets increased to $61,676.1 million, with a robust net cash position of $19,490.6 million.
Industrias Bachoco reported robust unaudited results for 1Q21, with net sales increasing by 23.0% year-over-year to $19,357.6 million. The EBITDA margin improved significantly to 15.1% from 6.0% in 1Q20, driven by better pricing and operational efficiencies despite rising raw material costs, which increased 11.7%. Net income reached $2,074.6 million, a decrease from $2,170.2 million in 1Q20, leading to earnings per share of $3.50. The company maintained a strong cash position of $19,791.7 million as of March 31, 2021.
Industrias Bachoco S.A.B. de C.V. (NYSE: IBA) has filed its Annual Report on Form 20-F with the SEC for the fiscal year ending December 31, 2020. Shareholders, including ADR holders, can access the report through the SEC website or Bachoco's investor relations page. The report includes forward-looking statements regarding the company's future performance, acknowledging potential risks in the poultry industry, such as competition, regulatory challenges, and environmental issues. Copies of the Form 20-F are available upon request.
Industrias Bachoco (NYSE: IBA) announced a cash dividend payment of $1.42 pesos per share or $17.04 per ADR at the Annual Shareholder Meeting on April 28, 2021. This dividend will be disbursed in two installments of $0.71 pesos per share on May 19 and July 14, 2021. Bachoco, a leading poultry producer in Mexico, operates over 1,000 facilities across nine production complexes and employs more than 29,000 people. The Company holds AAA ratings from Fitch and HR Ratings, indicating the highest credit quality.
Industrias Bachoco (NYSE: IBA) reported robust financial results for the fourth quarter and full year of 2020. Net sales surged by 21.1% to $18,328.6 million in 4Q20, and 11.6% to $68,791.3 million for the year. EBITDA reached $2,451.3 million in 4Q20 with a margin of 13.4%, while earnings per share were $1.22 for the quarter and $6.12 for the year. The company faced rising costs due to raw material price increases but managed to offset these through operational efficiencies. Net income in 4Q20 was $720.3 million, a substantial increase from $149.8 million in 4Q19.
