forward-looking statements contained in this release.
ABOUT TIENDAS 3B
BBB Foods Inc. ("Tiendas 3B"), a proudly Mexican company, is a pioneer and leader of the grocery hard discount model in Mexico and one of the fastest growing retailers in the country as measured by its sales and store growth rates. The 3B name, which references "Bueno, Bonito y Barato" - a Mexican saying which translates to "Good, Nice and Affordable" - summarizes Tiendas 3B's mission of offering irresistible value to budget savvy consumers through great quality products at bargain prices. By delivering value to the Mexican consumer, we believe we contribute to the economic well-being of Mexican families. In a landmark achievement, Tiendas 3B was listed on the New York Stock Exchange in February 2024 under the ticker symbol "TBBB."
For more information, please visit: https://www.investorstiendas3b.com/.
FINANCIAL STATEMENTS
Consolidated Income Statement
(Unaudited)
For the three months ended September 30, 2024 and September 30, 2023
(In thousands of Mexican pesos)
For the Three Months Ended September 30,
--------------------------------------------
2024 2023 % Change
-------------------------------- ---------------- ---------------- --------
Revenue From Sales of
Merchandise Ps. 14,807,698 Ps. 11,399,566 29.9%
Sales of Recyclables 26,108 25,609 1.9%
-------------------------------- ---------------- ---------------- --------
Total Revenue 14,833,806 11,425,175 29.8%
Cost of Sales (12,490,108) (9,618,847) 29.9%
-------------------------------- ---------------- ---------------- --------
Gross Profit Ps. 2,343,698 Ps. 1,806,328 29.7%
Gross Profit Margin 15.8% 15.8%
Sales Expenses (1,498,500) (1,218,570) 23.0%
Administrative Expenses (494,399) (374,347) 32.1%
Other Income (Expense) - Net 1,770 (2,865) n.m.
-------------------------------- ---------------- ---------------- --------
Operating Profit Ps. 352,569 Ps. 210,546 67.5%
Operating Profit Margin 2.4% 1.8%
Financial Income 47,642 7,388 544.9%
Financial Costs (286,930) (298,527) (3.9%)
Exchange Rate Fluctuation 210,191 (145,667) n.m.
Financial Cost - Net (29,097) (436,806) (93.3%)
-------------------------------- ---------------- ---------------- --------
Profit (Loss) Before Income Tax 323,472 (226,260) n.m.
Income Tax Expense (65,872) (112,791) (41.6%)
-------------------------------- ---------------- ---------------- --------
Net Profit (Loss) for the Period Ps. 257,600 (Ps. 339,051) n.m.
-------------------------------- ---------------- ---------------- --------
Net Profit Margin 1.7% (3.0%)
Basic Earnings (Loss) per Share 2.30 (28.25)
-------------------------------- ---------------- ---------------- --------
Diluted Earnings (Loss) per
Share 1.89 (28.25)
-------------------------------- ---------------- ---------------- --------
Weighted Average Common Shares
Outstanding:
-------------------------------- ---------------- ---------------- --------
Basic 112,200,752 12,000,000
-------------------------------- ---------------- ---------------- --------
Diluted 136,283,972 12,000,000
-------------------------------- ---------------- ---------------- --------
EBITDA Reconciliation
Net Profit (Loss) for the Period Ps. 257,600 (Ps. 339,051) n.m.
-------------------------------- ---------------- ---------------- --------
Net Profit Margin 1.7% (3.0%)
Income Tax Expense 65,872 112,791 (41.6%)
Financial Cost - Net (29,097) (436,806) (93.3%)
D&A 335,385 236,225 42.0%
-------------------------------- ---------------- ---------------- --------
EBITDA Ps. 687,954 Ps. 446,771 54.0%
-------------------------------- ---------------- ---------------- --------
EBITDA Margin 4.6% 3.9%
Consolidated Income Statement
(Unaudited)
For the nine months ended September 30, 2024 and September 30, 2023
(In thousands of Mexican pesos)
For the Nine Months Ended September 30,
-------------------------------------------
2024 2023 % Change
--------------------------------- ---------------- --------------- --------
Revenue From Sales of Merchandise Ps. 41,014,985 Ps. 31,694,573 29.4%
Sales of Recyclables 77,416 68,282 13.4%
--------------------------------- ---------------- --------------- --------
Total Revenue 41,092,401 31,762,855 29.4%
Cost of Sales (34,414,213) (26,733,603) 28.7%
--------------------------------- ---------------- --------------- --------
Gross Profit Ps. 6,678,188 Ps. 5,029,252 32.8%
Gross Profit Margin 16.3% 15.8%
Sales Expenses (4,208,458) (3,431,030) 22.7%
Administrative Expenses (1,426,551) (1,033,144) 38.1%
Other Income (Expense) - Net 7,066 692 921.1%
--------------------------------- ---------------- --------------- --------
Operating Profit Ps. 1,050,245 Ps. 565,770 85.6%
Operating Profit Margin 2.6% 1.8%
Financial Income 109,501 20,510 433.9%
Financial Costs (924,055) (1,007,868) (8.3%)
Exchange Rate Fluctuation 385,335 403,922 (4.6%)
Financial Cost - Net (429,219) (583,436) (26.4%)
--------------------------------- ---------------- --------------- --------
Profit (Loss) Before Income Tax 621,026 (17,666) n.m.
Income Tax Expense (263,033) (191,503) 37.4%
--------------------------------- ---------------- --------------- --------
Net Profit (Loss) for the Period Ps. 357,993 (Ps. 209,169) n.m.
--------------------------------- ---------------- --------------- --------
Net Profit Margin 0.9% (0.7%)
Basic Earnings (Loss) per Share 3.32 (17.43)
--------------------------------- ---------------- --------------- --------
Diluted Earnings (Loss) per Share 2.72 (17.43)
--------------------------------- ---------------- --------------- --------
Weighted Average Common Shares
Outstanding:
--------------------------------- ---------------- --------------- --------
Basic 107,798,668 12,000,000
--------------------------------- ---------------- --------------- --------
Diluted 131,924,394 12,000,000
--------------------------------- ---------------- --------------- --------
EBITDA Reconciliation
Net Profit (Loss) for the Period Ps. 357,993 (Ps. 209,169) n.m.
--------------------------------- ---------------- --------------- --------
Net Profit Margin 0.9% (0.7%)
Income Tax Expense 263,033 191,503 37.4%
Financial Cost - Net (429,219) (583,436) (26.4%)
D&A 952,086 758,046 25.6%
--------------------------------- ---------------- --------------- --------
EBITDA Ps. 2,002,331 Ps. 1,323,816 51.3%
--------------------------------- ---------------- --------------- --------
EBITDA Margin 4.9% 4.2%
Consolidated Balance Sheet
(Unaudited)
As of September 30, 2024 and December 31, 2023
(In thousands of Mexican pesos)
As of September 30, As of December 31,
------------------- ------------------
2024 2023
------------------------------------- ------------------- ------------------
Current assets:
------------------------------------- ------------------- ------------------
Cash and cash equivalents Ps. 1,268,902 Ps. 1,220,471
Short-term bank deposits 2,963,511 -
Creditors 3,669 -
Derivative financial instruments 7,287 -
Sundry debtors 47,523 11,020
VAT receivable 1,061,873 731,186
Advanced payments 134,846 72,998
Inventories 2,524,631 2,357,485
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November 25, 2024 16:13 ET (21:13 GMT)
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