Q3 2025 Becle SAB de CV Earnings Call Transcript
Key Points
- Consolidated volumes increased by 3.7%, driven by a 5.2% growth in the spirits portfolio.
- Gross margin expanded by 300 basis points to 56.1%, reflecting lower input costs and operating efficiencies.
- EBITDA for the quarter increased by 63.3% year-over-year, reaching MXN 3.5 billion.
- Mexico posted a 24.3% increase in net sales value, driven by volume growth and favorable product mix.
- EMEA and APAC regions delivered double-digit growth, supported by strong execution and healthy inventory levels.
- Net sales value in the US and Canada declined by 10.3%, with a 6.4% decrease in shipments.
- The US market remains highly competitive, with tequila pricing down by 7.9% due to aggressive competitor pricing.
- The Ready-to-Serve portfolio in the US faced softness, contributing to lower consolidated shipments.
- The appreciation of the Mexican peso posed a modest drag on margins, impacting financial results.
- A&P expenses declined year-over-year, which could potentially impact brand visibility and sales performance.
Good morning, and thank you for joining Becle's Third Quarter Unaudited Financial Results Call. During this call, you may hear certain forward-looking statements. These statements may relate to our future prospects, developments and business strategies and may be identified by our use of terms and phrases such as anticipate, believe, could, estimate, expect, intend and similar terms and phrases and may include references to assumptions.
Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward-looking statements relate to the future by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those in forward-looking statements.
Before we begin, we would like to remind you that the figures discussed on this call were prepared in accordance with International Financial Reporting Standards, or IFRS, and published in the Mexican Stock Exchange. The information for the third
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