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Grupo Bimbo, S.A.B. De C.V.'s (GRBMF) CEO Daniel Javier Servitje On Q2 2021 Results - Earnings Call Transcript

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Grupo Bimbo, S.A.B. de C.V. (OTCPK:GRBMF) Q2 2021 Earnings Conference Call July 28, 2021 6:00 PM ET

Company Participants

Daniel Javier Servitje - Chairman of the Board and Chief Executive Officer

Diego Gaxiola - Chief Financial Officer

Alfred Penny - President, Bimbo Bakeries USA

Conference Call Participants

Benjamin Theurer - Barclays Capital

Alvaro Garcia - BTG Pactual

Ricardo Alves - Morgan Stanley

Lucas Ferreira - JPMorgan Chase & Co.

Felipe Ucros - Scotiabank

Isabella Simonato - Bank of America Merrill Lynch

Federico Galassi - PAAMCO Miren


Good evening, everyone, and welcome to Grupo Bimbo's Second Quarter Results Conference Call. If you need a copy of the press release issued earlier today, it is available on the company's website, at www.GrupoBimbo.com/EN/Investors/Quarterly-Reports.

Before we begin, I would like to remind you that this call is being recorded and that the information discussed today may include forward-looking statements regarding the company's financial and operating performance. All projections are subject to risks and uncertainties and actual results may differ materially.

Please refer to the detailed note in the company's press release regarding forward-looking statements. I will now turn the call over to Mr. Daniel Servitje. Chairman and Chief Executive Officer of Grupo Bimbo. Please go ahead, sir.

Daniel Javier Servitje

Thank you very much and good afternoon, everyone. Thank you for joining us. On behalf of Grupo Bimbo, I hope that you and your families are healthy and staying safe. Connected on the line today is our CFO, Diego Gaxiola; our BBU President, Fred Penny; and several members of our finance team.

I am more than proud that our team's reached record profits for the second quarter and net sales growth of 6.6%, excluding FX effects. We continue to see strong demand and extraordinary run rates in our core business. We held and grew market share

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