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Mexico
Company data displayed is for sample purposes only and may not reflect the most current information available on Emerging Markets Information Service (EMIS).

Grupo Industrial Maseca, S.A.B. de C.V.

Main Activities: Food Manufacturing - Management of Companies and Enterprises - Bakeries and Tortilla Manufacturing

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Company Information

Full name
Grupo Industrial Maseca, S.A.B. de C.V.

Headquarters
Avenida Humberto Junco V. 2307 Torre Martel, Colonia Valle Oriente; San Pedro Garza Garcia; Nuevo Leon; 66269
Status: Listed
Legal Form: Public Limited Company
Operational Status: Operational
ISIN CODE : MXP6458Q1586
RFC: GRU-810902-IE3
Financial Auditors: PricewaterhouseCoopers (2012)
Incorporation Date: March 1, 1981
Total Employees: 4,046

Tel: +52 (81) 8399 3800

Company Description

Grupo Industrial Maseca S.A.B. de C.V. (Gimsa) is a subsidiary of "Gruma", dedicated to the production and marketing of corn flour for the production of tortillas and related items. It has 18 production plants in 15 states of Mexico and an annual production capacity of 2.3 million tons.
It was founded in 1949 with operations only in the northeastern Mexico and from 1984 it has been listed on the Mexican Stock Exchange.

Company Analysis

According to the Consolidated - Non-Audited financial statement for the first three cumulated quarters of 2012, total net operating revenues increased with 16.61%, from MXN 11,156,054 thousands to MXN 13,009,174 thousands. Operating result decreased from MXN 1,254,687 thousands to MXN 1,236,839 thousands which means -1.42% change. The results of the period decreased -11.83% reaching MXN 888,557 thousands at the end of the period against MXN 1,007,805 thousands last year. Return on equity (Net income/Total equity) went from 13.14% to 10.36%, the Return On Asset (Net income / Total Asset) went from 9.39% to 6.75% and the Net Profit Margin (Net Income/Net Sales) went from 9.03% to 6.83% when compared to the same period of last year. The Debt to Equity Ratio (Total Liabilities/Equity) was 53.48% compared to 39.93% of last year. Finally, the Current Ratio (Current Assets/Current Liabilities) went from 2.70 to 2.20 when compared to the previous year.

Key Executives

Roberto Gonzalez Alcala Chief Executive Officer
Alejandro Barrientos Serrano Corporate Finance Director
Edgar Salgado Pena Chief Administrative Officer
Juan A. Quiroga Garcia Controller
Rafael E. Abreu Briceno Sales Director
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Balance Sheet

Total Assets

13,165,377

11,644,365

Current Assets

8,646,502

7,164,404

Total Liabilities

4,587,634

2,925,292

Shareholders Equity

8,577,743

8,719,073

Current Liabilities

3,934,033

2,280,347

* All the accounts are in MXN.
Income Statement

Total Operating Revenue

13,009,174

8,700,676

Operational Profit (Loss)

1,236,839

785,951

Net Profit (Loss)

888,557

570,686

* All the accounts are in MXN.
Ratios
Profitability Ratios

Return on Assets (ROA)

6.75%

4.9%

Annualised Return on Assets (ROA)

9%

9.8%

Return on Equity (ROE)

10.36%

6.55%

Annualised Return on Equity (ROE)

13.81%

13.1%

Return on Sales (ROS)

6.83%

6.56%

Return on Capital

13.95%

8.84%

Gross Profit Margin

24.94%

24.27%

Operating Profit Margin

9.51%

9.03%

Efficiency Ratios

Accounts Receivable Turnover

8.66x

5.95x

Inventory Turnover

2.97x

3.36x

Current asset turnover

1.50x

1.21x

Fixed-asset turnover

3.19x

2.15x

Asset Turnover

0.99x

0.75x

Valuation figures and ratios

Earning Before Interests and Taxes (EBIT)

1,287,760

827,778

EBITDA

1,504,764

966,191

Enterprise value

12,170,991

10,361,945

Enterprise Value / EBITDA

8.09

10.72

Bookvalue (BV)

8,361,778

8,502,519

Net Cash

-473,044

-327,767

Liquidity Ratios

Current Ratio

219.79%

314.18%

Quick ratio

108.35%

200.7%

Doom's day ratio

4.59%

13.91%

Leverage Ratios

Leverage ratio

53.48%

33.55%

Interest Coverage Ratio

3,278.83%

2,924.7%

Debt to equity

53.48%

33.55%

Debt to total assets

34.85%

25.12%

Long Term Debt to Capital

7.62%

7.4%

Debt / Enterprise Value

37.69%

28.23%

Market ratios

Market Capitalization/EBITDA

5.16

8.03

Market Cap / Net cash

-16.41

-23.66

Trend Ratios

Revenue Trend

116.61%

127.65%

Net Income Trend

88.17%

85.26%

Operating Income Trend

98.58%

88.19%