MEXICO CITY — Even as it raises its expectations for sales and earnings growth in 2021, the financial firm Actinver has downgraded its investment outlook for Grupo Bimbo SAB de CV to market perform.
“We expect stronger growth in revenues, thicker EBITDA margins and lower financial leverage,” said Enrique Mendoza, an analyst with Actinver, said in a Sept. 23 research update. “For the full year 2021, we estimate Bimbo sales to grow 1% in 2021. While we expect North America’s segment to reflect similar revenues to the previous year during the second half of 2021, Mexico, Latam and EEA sales should deliver double-digit growth figures in local currency.”
Looking forward to 2022, Actinver is projecting a 5% rise in Bimbo revenues, which includes 1.5% growth in North America and wider grains in the company’s other markets.
“The revenue growth should reflect recovery in the foodservice, traditional and snacks sales channels,”…