- The company's positive performance is mainly driven by its mass consumption business in Peru, thanks to its strategy of focusing on emblematic categories and brands, in addition to improving the mix of sales channels.
Alicorp presented its financial results for the third quarter of 2024, recording positive indicators as a result of the strategy implemented since 2023. This strategy is aimed at strengthening emblematic brands and improving the mix of sales channels, which has allowed it to achieve greater profitability in their businesses.
In this sense, the consolidated gross profit for the reported period reached S/ 768 million, which represents a growth of 31% compared to the third quarter of 2023. For its part, the profit before interest, taxes, depreciation and amortization (EBITDA) reached S/ 432 million, 56% more than the same period of the previous year. It should be noted that these figures include the results of one month of the operations of Refinería del Espino, a company acquired by Alicorp at the beginning of September. These results impact the business units of Alicorp Soluciones (B2B) and Mass Consumption Peru.
Quarterly results by business
During the third quarter of 2024, the Peru Mass Consumption business maintained the strategy deployed the previous year. As a result, EBITDA for the quarter reached S/ 216 million, which represents an increase of 23% compared to the same period in 2023. This result is mainly explained by the growth of gross profit, which increased 18% compared to the same period in 2023. to the third quarter of 2023, reaching S/ 388 million, driven by a better mix of sales and channels, mainly due to the performance of its emblematic brands, in addition to a 5% growth in the volume sold.
EBITDA from International Business reached S/ 49 million, an increase of S/ 39 million compared to the same quarter of 2023. This result is attributed to the optimization of its product portfolio and the prioritization of key categories. The business in Bolivia stands out, with an improvement of S/ 36 million in its EBITDA. Additionally, operations in Ecuador and New Geographies also showed positive performance, with EBITDA increases of S/ 1.4 million and S/ 2.2 million, respectively.
The B2B business (Alicorp Soluciones) reported an EBITDA of S/ 90 million, which represents a decrease of 4% compared to the same period of the previous year, mainly explained by non-recurring expenses during the quarter. However, gross profit grew 10% compared to the third quarter of 2023, reaching S/ 151 million.
Meanwhile, the Aquaculture business (Vitapro) recorded an EBITDA of US$ 21 million, an increase of 9% compared to the third quarter of 2023, accompanied by a 3% increase in gross profit, which reached US$ 30 millions.
Finally, the Grinding business recorded growth of US$ 18 million in EBITDA compared to the third quarter of 2023, mainly attributed to the improvement in gross profit, which increased US$ 19 million.