May 4, 2012

Bachoco revealed its highest net sales, with a rise of 54.5% in the first quarter of 2012 compared to the same period last year.

"The Mexican poultry industry demonstrated an adequate balance between supply and demand, with greater stability within the international markets of the main raw materials and an appreciation of the Mexican peso against the US dollar," said CEO Rodolfo Ramos.

"During the first quarter we observed a strong demand for chicken and eggs in the Mexican market, which allowed us to close the gap in prices following the sharp increases in raw material costs in recent quarters. As a result, we had increases in sales across all our business lines, and when combined with the additional sales generated from our operation in the US, Bachoco achieved record first quarter sales.

"In the first quarter of 2012, we achieved positive results in the Company's operations in Mexico and the US, reaching an EBITDA of MXN1,027.6 million (US$79 million), an EBITDA margin of 11.0%, derived from the aforementioned external factors and the continuous efforts to improve efficiency, productivity and the marketing efforts of our staff" he concluded.