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CHIHUAHUA, Mexico, Feb. 18, 2025 (GLOBE NEWSWIRE) -- Grupo Bafar, S.A.B de C.V. (BIVA: BAFARB), a leading company in the food sector nationwide, has announced its results for the fourth quarter of 2024, highlighting sustained growth driven by innovation, digitalization and expansion strategies in all its divisions.
2024 Cumulative Results
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Net sales reached $28,491 million pesos.
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Gross profit increased 15.7% with a margin of 31.3%.
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Operating income increased 17.0%, and EBITDA increased 18.3%.
Grupo Bafar concluded the year with record revenues of $28,491 million pesos, solidifying its position as a leading industry standard. The company's 11.3% growth over 2023 highlights its ability to generate value and maintain a steady rate of expansion. Operating income grew by 17%, reaching $4,354 million, while EBITDA increased by 18.3%, reaching $5,207 million. The company's net income for the year was $2,051 million, with a margin of 7.2%.
The Food Division maintained its digital transformation strategy, highlighting the implementation of smart stores, the integration of Salesforce CRM and the start of operations of the Intelligent Plant. Sales for the year grew 10.6%, reaching $27,268 million, driven by a 6.0% increase in sales volume and growth in value-added products, highlighting the increase in market share of Serrano ham to 33%, a 3% increase in extra-fine products and a 27% increase in breaded products. The division's EBITDA for 2024 was $3.29 billion, an increase of 20.6%.
Fibra Nova consolidated its portfolio with 123 properties and an ABR of 662,206 m², signing new contracts under Triple NNN and Build to Suit schemes with companies with a global presence, maintaining an occupancy and renewal rate of 100%, underscoring the market's confidence in the soundness of its developments. In terms of sustainability, EDGE certification was achieved for 163,600 m². Annual revenues reached $1,288 billion. EBITDA grew 25.4%, with a margin of over 90%. During the year, $1,047.9 million was distributed, 22% more than in 2023, maintaining its position as a profitable and reliable Fibra.
Fibra Nova strategically consolidated its portfolio, acquiring 123 properties and achieving an ABR of 662,206 m². The company entered into new contracts under Triple NNN and Build to Suit arrangements with globally recognized companies, maintaining an occupancy and renewal rate of 100%. This underscores the market's confidence in the soundness of Fibra Nova's developments. In terms of sustainability, EDGE certification was achieved for 163,600 m². The company's annual revenues reached $1.288 billion. EBITDA grew 25.4%, with a margin of over 90%. During the year, $1,047.9 million was distributed, marking a 22% increase over 2023 and affirming its standing as a profitable and reliable Fibra.