Q1 2020 Gruma SAB de CV Earnings Call Transcript
Good morning, ladies and gentlemen. Thank you for standing by. Welcome to Gruma's First Quarter 2020 Earnings Conference Call. (Operator Instructions)
I would now like to turn the conference over to your host, Mr. Ral Cavazos, Gruma's Chief Financial Officer. Please go ahead, sir.
Thank you, Rob. Good morning, everyone, and thank you for joining us today. We are pleased to discuss our first quarter 2020 performance review. During the beginning of the year, our first quarter results show significant increases in volume, net sales and EBITDA at our all subsidiaries aside from our operations in China, which represent less than 1% of consolidated net sales. While there is a little positive anyone could say about the coronavirus outbreak, due to the defensive nature of our business, we are seeing stronger results in the rest of our operations, especially in the U.S. This defensive nature was proved on our sales volume, which rose 6% during the quarter, where the U.S. division was the main contributor, in
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