Tuesday, October 3, 2023

a tequila? Cuervo sales grow more strongly outside of Mexico, the US and Canada

in the quarter, operating flow De Cuervo rose 43.7% to 2,343 million pesos, while Net Profit According to the company’s financial statements, consolidated increased 58% to 1,410 million pesos compared to 893 million pesos in the second quarter of 2021.

“Tequila’s growth in our family of brands was strong, despite supply chain constraints across the industry. Although the global environment remains volatile, with a tough macro and inflationary context, we are looking at volatility in consumption centres, flexibility in the downstream channel and our continued premiumization efforts,” the company said.

by region, segment rest of the world (which covers markets outside Mexico, the United States, and Canada) was the one that grew the most, a . with 68.8% increase in sales, in billing Mexico grew up 64.4%Mainly due to premiumization efforts of the firm’s brands and increase in prices.

In United States and Canada, sales remained stable year over year; However, it remained the sector with the largest share of Becle’s total sales.

The market showing the highest growth was also the rest of the world, in terms of sales volume (by beverage matters), with an increase of 74.8%. Mexico posted 45% growth, offsetting 7.6% declines in the United States and Canada, impacted by supply chain disruptions and a higher comparison base in beverages. ready to drink (RTD),

jose cuervo It continues to be the preferred brand with a 17.8% increase in net sales compared to the same period in 2021, and represents 35.4% of the company’s total net sales in the second quarter.

‘ net sales of brandsOther Tequila‘ increased by 42.0% and represented 33.6% of total net sales. ‘ Signs ofother spirits‘ represented 18.2% of sales and an increase of 8% compared to the second quarter of last year.

net sales ofNon-alcoholic beverages and other‘ represented 3.4% of total net sales and an increase of 18.6% compared to the same period last year. RTD net sales represent 9.4% of total net sales and decreased by 11.6% as compared to the same period last year.

Roberto Solano and Brian Rodriguez, analysts at Monex, believe that Cuervo produced better-than-expected results, and highlights the increase in sales volume despite the situation and with the operating and exchange conditions of the period.

“Given more reactivation of consumption supported by social reopening, the key volume scenario may improve gradually. It should be noted that although there is a change in the consumption of alcoholic beverages, Consumption outlook will appear to normalize in the year, It would be nice to confirm consumption trends in the event of a high inflation rate, but so far the issuer has been resilient,” he said in an analysis.

Nation World News Desk
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