| 2016 | 2015 | VAR (%) | |
|---|---|---|---|
| NET SALES | 18,180 | 16,356 | 11.2 |
| Core Business | 14,431 | 13,139 | 9.8 |
| Frozen | 2,592 | 2,139 | 21.1 |
| Exports | 1,158 | 1,079 | 7.3 |
| Cost of Goods Sold | 10,929 | 9,577 | 14.1 |
| GROSS PROFIT | 7,252 | 6,779 | 7.0 |
| Core Business | 5,483 | 5,206 | 5.3 |
| Frozen | 1,642 | 1,440 | 14.0 |
| Exports | 127 | 133 | ( 4.5 ) |
| Sales, General & Administrative Expenses | 4,945 | 4,290 | 15.3 |
| Other Expenses, net | 57 | ( 452 ) [1] | N.A. |
| EBIT | 2,363 | 2,036 | 16.1 |
| Core Business | 2,378 | 2,435 | ( 2.3 ) |
| Frozen | ( 61 ) | ( 452 ) | ( 86.5 ) |
| Exports | 46 | 53 | -13.2 |
| Equity Investments in Associates | 599 | 446 | 34.3 |
| MegaMex | 577 | 418 | 38.0 |
| Others | 22 | 28 | -21.4 |
| CONSOLIDATED NET INCOME | 1,593 | 1,293 | 23.2 |
| MAJORITY NET INCOME | 717 | 389 | 84.3 |
| EBITDA [2] | 2,816 | 2,887 | -2.5 |
| Core Business | 2,634 | 2,668 | -1.3 |
| Frozen | 103 | 136 | -24.3 |
| Exports | 79 | 83 | -4.8 |
| Total Assets | 26,348 | 24,405 | 8.0 |
| Total Liabilities | 11,720 | 10,498 | 11.6 |
| Total Debt | 7,475 | 7,261 | 2.9 |
| Total Shareholders Equity | 14,628 | 13,907 | 5.2 |
| Majority Shareholders Equity | 7,348 | 6,745 | 8.9 |
| CAPEX | 872 | 1,039 | -16.1 |
| CASH FLOW FROM OPERATIONS | |||
| RGO [3] | 1,385 | 2,109 | -34.3 |
| LEVERAGE RATIOS | |||
| Net Debt/Consolidated EBITDA (times) | 2.3 | 2.0 | |
| Net Debt/Total Shareholders Equity (times) | 0.46 | 0.63 | |
| RETURN ON EQUITY | |||
| ADJUSTED ROE [4] | 13.2% | 7.9% | |
| RETURN ON CAPITAL (ROE) [5] | 10.2% | 6.0% | |
| RETURN ON INVESTED CAPITAL (ROIC) [6] | 11.7% | 10.5% | |
| STOCK EXCHANGE INFORMATION | |||
| Price per Share at Year End | 37.66 | 44.77 | |
| Total Shares Outstanding at Year End (millions) | 432 | 432 | |
- Includes the non-cash impairment charge of Ps. 450 million in 2015, due to the recognition of a loss in Nutrisa´s goodwill
- EBITDA Earnings Before Interest, Taxes, Depreciation, Amortization and other non-cash items
- Excludes corporate debt
- Cash Flow from Operations = Consolidated Net Income + Other non-cash items + Working Capital
- ROE = Majority Net Income/Average Majority Shareholders´ Equity
- Adjusted for the elimination of the reasonable value of Herdez Del Fuerte as a result of the application of IFRS10 and IFRS3
- ROIC = Operating Income/Average (Shareholders´ Equity+Debt)