Nota Destacada

Grupo KUO loses 2,853 mp in 1Q20

Grupo KUO registered a loss of 2,853 million pesos in the first quarter of 2020.

Comparatively, in the same quarter of the previous year, it obtained a profit of 508 million pesos.

Grupo KUO is a leading industrial conglomerate in Mexico, with annual revenues of approximately 42.2 billion pesos during 2019, exports to around 70 countries on all continents and approximately 25,000 employees.

The company’s current business portfolio includes three sectors: Consumer, Chemical, and Automotive.

Grupo KUO and exports

During the first quarter of 2020, the company‘s revenues reached 11,209 million pesos, a growth of 12% year-on-year, which is explained by the strong dynamism of the businesses in the Consumer sector, highlighting the growth of the export channel in the Pork business , mainly to Japan and China, together with the strong demand for Herdez Del Fuerte in the main categories of the national market: tomato puree, vegetables, tuna, mushrooms and sauces.

Fiancial results

A greater demand for products in the Transmissions business and a greater movement of brakes in the Spare parts business also influenced. The aforementioned compensated for the lower dynamism observed in the Synthetic Rubber and Polymers businesses, which registered a lower level of prices and volume.

The percentage of exports to total revenues during the quarter was 56%, driven by the Porcícola and Transmisiones businesses.

Alejandro de la Barreda, CEO of Grupo KUO, mentioned: “At the beginning of the year we observed a strong start in the portfolio business, mainly in the Consumer and Chemical sectors, highlighting the activity of the export channel of the Pig business, as well as the demand of the Herdez Del Fuerte business in the national category ”.

The performance of the Consumer sector boosted the growth of the Operating Flow, offsetting the lower dynamism of the businesses in the Chemical sector, which were affected by the drop in oil prices, while the Transmission business temporarily closed the plant in the United States, given the health contingency COVID-19.

 

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