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Investor Presentaiton

Sustainable Growth with Proven Ability to Deleverage NET DEBT / ADJ. EBITDA" (3) 3.13 (1) 2.7 (2) 2.0 1.9 2.9 2.7 I I 2.2 (4) 3.0 2.7 2.6 2.6 2.4 2.0 (5) 1.9 1.5 (5) 2.0 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 LTM 3Q23 SINCE 1882 Weston PEFULS US$ 2.4 Bn Sara fee B US$ 709 mm CAD$ 1.8 Bn CANADA BREAD Ricolino East Balt Bakeries US$ 650 mm +US$ 1.4 Bn (1) Adj. EBITDA w/o IFRS16: Earnings before interests, taxes, depreciation, amortization and MEPPS. (2) The acquisition of Weston Foods was consummated in January 2009. Leverage ratio giving pro-forma effect to the Weston Foods acquisition as if such acquisition (and the incurrence of the indebtedness thereof) was consummated on December 31st, 2008. (3) The acquisition of Canada Bread was consummated in May 2014. Leverage ratio giving pro-forma effect to the Canada Bread acquisition as if such acquisition was consummated on May 31, 2014, and Adjusted EBITDA includes 5 months of the EBITDA reported by Canada Bread for such year. (4) The acquisition of East Balt was consummated in October 2017. Leverage ratio giving pro-forma effect to the East Balt acquisition includes 9.5 months of the EBITDA reported by East Balt for such year (Ps.1,060 million or $56 million converted at the exchange rate of Ps. 18.92 per $1 dollar which is the average of the daily exchange rates published by Banco de Mexico for the year ended December 31st, 2017). Our Adjusted EBITDA for the year ended December 31st, 2017, was Ps.27,289 mm. (5) Includes Ricolino's divestiture to Mondelēz International, Inc. for an Enterprise value of Ps. $25.8Bn. 14
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