Investor Presentaiton
Income Statement
Six months ended June 30th
Second quarter ended June 30th
Jose Cuervo
2021
% of net sales
2022
% of net sales
2022 (USD) (1)
2021
% of net sales
2022
% of net sales
2022 (USD) (1)
(Ps&MM)
Net sales
16,699
20,402
1,021
9,531
11,334
567
Cost of goods sold
7,785
46.6
9,487
46.5
475
4,460
46.8
5,397
47.6
270
Gross profit
8,914
53.4
10,915
53.5
546
5,071
53.2
5,937
52.4
297
Advertising, marketing and
3,379 (2)
20.2
4,003
19.6
200
2,354 (2)
24.7
2,318
20.4
116
promotion
Distribution
826
4.9
1,001
4.9
50
461
4.8
520
4.6
26
Selling and administrative
1,574
9.4
1,808
8.9
90
800
8.4
931
8.2
47
Other expenses (income), net
21
0.1
(9)
0.0
(0)
25
0.3
40
0.4
2
Operating income
3,114
18.6
4,111
20.2
206
1,431
15.0
2,129
18.8
107
Financing results
240
1.4
217
1.1
11
224
2.4
142
1.3
7
Profit before income taxes
2,874
17.2
3,894
19.1
195
1,207
12.7
1,986
17.5
99
Income taxes
747
4.5
1,129
5.5
57
314
3.3
576
5.1
29
Consolidated net income
2,127
12.7
2,765
13.6
138
893
9.4
1,410
12.4
71
EBITDA
3,511
21.0
4,534
22.2
227
1,631
17.1
2,343
20.7
117
Notes:
1.
U.S. dollars translated at 19.98 Mexican pesos solely for convenience of the reader
2.
Includes a non-recurring AMP accrual of P$373 million related to continuing promotional activities for acquired intellectual property as part of the Eire Born Spirits ("EBS") transaction closing in April 2021.
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