Sigma Foods, S.a.b. De C.v. · BMV:SIGMAF/A
Sigma Foods, S.a.b. De C.v — Q3 2026 Earnings Presentation
20 slides from Sigma Foods, S.a.b. De C.v's earnings presentation, Oct 28, 2026
Slide 1: 3Q26 Earnings Presentation
3Q26 Earnings Presentation
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking information based on numerous variables, expectations and assumptions that are inherently uncertain. They involve judgments with respect to, among other things, future economic, competitive and financial market conditions and future business deci
Slide 3: Sigma Foods - 3Q26 Highlights
Sigma Foods - 3Q26 Highlights ● Record quarterly Volume (+2%), Revenues (+3%), and EBITDA (+23%) ● 3Q26 Consolidated EBITDA driven by year-on-year growth in all regions ● Full-year Comparable EBITDA Guidance revised up to US $1.14B (previously US $1.10B)
Slide 4: 3Q26 Highlights by region
3Q26 Highlights by region MEXICO ● Record quarterly Volume (+3%), Revenues (+11%), and EBITDA (+18%) ● Volume improvements across channels and categories ● 3Q26 EBITDA up 9% in local currency, supported by better price-cost alignment EUROPE ● Quarterly Volume up 5% driven primarily by the Fresh Meat
Slide 5: Volume growth of 2% versus 3Q25, mainly driven by Mexico and Europe
Volume growth of 2% versus 3Q25, mainly driven by Mexico and Europe Volume Volume Volume (k Tons) Δ YoY (k Tons) Δ QoQ (k Tons) 465 463 472 +2% +2% 456 463 472 472 5 -4 0 -5 0 8 463 7 7 3Q23 3Q24 3Q25 3Q26 3Q25 Mexico Europe U.S. Latam 3Q26 2Q26 Mexico Europe U.S. Latam 3Q26
Slide 6: Revenue growth driven by higher Volume and Average Prices
Revenue growth driven by higher Volume and Average Prices reflecting a stronger Mexican Peso versus the U.S. Dollar Revenues Sigma Foods Revenues Sigma Alimentos Revenues Sigma Alimentos (US $ Million) Δ YoY (US $ Million) Δ QoQ (US $ Million) Sigma Foods Δ +2% Sigma Alimentos +4% 2,422 2,493 2,487
Slide 7: 3Q26 Consolidated EBITDA driven by year-on-year growth in all regions
3Q26 Consolidated EBITDA driven by year-on-year growth in all regions EBITDA Sigma Foods EBITDA Sigma Alimentos EBITDA Sigma Alimentos (US $ Million) Δ YoY (US $ Million) Δ QoQ (US $ Million) + - Sigma Foods Δ +17% Sigma Alimentos +3% 303 298 289 298 281 1 0 -5 9 5 -2 255 255 255 10 32 298 275 244 2
Slide 8: 3Q26 Comparable EBITDA of US $299 million, up 20% year-on-year
3Q26 Comparable EBITDA of US $299 million, up 20% year-on-year EBITDA Sigma Foods Extraordinary items Sigma Foods Comparable EBITDA Sigma Foods (US $ Million) (US $ Million) (US $ Million) EBITDA EBITDA EBITDA Margin EBITDA Margin +20% 303 299 245 250 3Q25 3Q26 Property Damages 0 0 Reimbursements Ot
Slide 9: Comparable EBITDA per ton increased 17% year-on-year
Comparable EBITDA per ton increased 17% year-on-year Comparable EBITDA Comparable EBITDA Margin By Region (% of Revenue and U.S. dollars per ton) (%) 15.7 15.5 15.9 14.6 14.5 15.0 14.4 13.8 +17% 14.0 12.4 13.0 12.2 11.6 11.7 619 623 633 10.8 576 10.5 536 540 9.6 9.7 9.2 10.0 8.9 8.7 8.5 8.2 6.5 12.0
Slide 10: Comparable EBITDA per ton increased in all regions
Comparable EBITDA per ton increased in all regions Mexico Europe U.S. Latam (Ps. $ per Ton) (EUR € per Ton) (US $ per Ton) (US $ per Ton) +6% +43% +6% +2% 13,952 250 536 465 474 13,169 505 175 3Q25 3Q26 3Q25 3Q26 3Q25 3Q26 3Q25 3Q26
Slide 11: Strong financial position
Strong financial position Net Debt Sigma Foods Net Leverage Ratio Sigma Foods (US $ Million) (Net Debt/EBITDA) 2,910 2.7 ‘BBB’ 2,832 2,737 2.6 Outlook Stable 2,705 2.5 2.4 ‘BBB’ Outlook Stable 4Q25 1Q26 2Q26 3Q26 4Q25 1Q26 2Q26 3Q26 ‘Baa3’ Outlook Stable
Slide 12: Lower Net Debt primarily reflecting strong EBITDA generation and a Net Working Capital recovery
Lower Net Debt primarily reflecting strong EBITDA generation and a Net Working Capital recovery Change in Net Debt Δ QoQ (US $ Millions) 2,910 2,737 47 0 -55 -303 70 -72 139 2Q26 EBITDA Net Working Capex Net Financial Taxes Dividends Other 3Q26 Capital Expenses
Slide 13: Recent Developments
Recent Developments Brand Equity • Mexico – Yoplait®: finalist for the “Brand development efficiency platform” for food by the Effie Awards Latin America 2026 – Sigma Foodservice: recognized with the “Marketer of the Year – International Distributor” award in the annual Certified Angus Beef® - Beef
Slide 14: Guidance Update - Comparable EBITDA
Guidance Update - Comparable EBITDA Comparable EBITDA 2026 (US $ Million) +14% 1,140 1,100 1,001 +4% 2025 Original Guidance Revised Guidance
Slide 15: Pork ham price in U.S. and Europe
Pork ham price in U.S. and Europe Pork Ham Prices in U.S. - US $/Lb Pork Ham Prices in Europe - Eur/Kg 1.6 4.0 1.5 1.4 1.3 3.5 1.2 1.1 1.0 3.0 0.9 0.8 0.7 0.6 2.5 0.5 0.4 0.3 2.0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2024 2025 2026 2024 2025
Slide 16: Poultry raw materials in the U.S.
Poultry raw materials in the U.S. Turkey Breast - US $/Lb Turkey Thigh - US $/Lb 8 4 6 3 4 2 2 1 0 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2024 2025 2026 2024 2025 2026 Chicken (MSC) - US $/Lb Turkey (MST) - US $/Lb 0.40 1.0 0.35 0.8 0.6 0.30
Slide 17: U.S. Dairy Raw Materials
U.S. Dairy Raw Materials Milk Class III - $/cwt 30 25 20 15 10 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2024 2025 2026 Nonfat Dry Milk (NFDM) - US $/Lb 2.5 2.0 1.5 1.0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2024 2025 2026
Slide 18: Currency Exchange Rates – Monthly Average
Currency Exchange Rates – Monthly Average U.S. Dollar – MXN Peso U.S. Dollar - Euro 24 1.30 23 1.25 22 1.20 21 20 1.15 19 1.10 18 1.05 17 1.00 16 15 0.95 14 0.90 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2024 2025 2026 2024 2025 2026
Slide 19: Note on changes Consolidated Financial Statements
Note on changes Consolidated Financial Statements On October 24, 2024, Shareholders approved the spin off of the Company’s share ownership in Alpek into a newly listed entity, “Controladora Alpek.” As a result, Alpek met the definition of a Discontinued Operation for purposes of the Company’s Consol
Slide 20: Contact
Contact Hernán F. Lozano V.P. of Investor Relations & Corporate Communications [email protected] Cesar Gomez, CFA, CAIA D.V.P. of Investor Relations [email protected] Carolina Alvear V.P. of Corporate Communications [email protected]