Q1 2019 Gruma SAB de CV Earnings Call Transcript
Good morning, ladies and gentlemen, thank you for standing by. Welcome to Gruma's First Quarter 2019 Earnings Conference Call. (Operator Instructions)
I would now like to turn the call back over to our host, Mr. Raúl Cavazos, Gruma's Chief Financial Officer. Thank you, you may begin.
Thank you. Good morning, everyone, and thank you for joining us today. We are pleased to discuss our first quarter 2019 performance review. During the quarter, our sales volume grew in Europe, the U.S. and Central America, while there was slight decrease in GIMSA. All in, on a consolidated basis, we are reporting 1% sales volume increase. This volume growth coupled with price increases in GIMSA, [there are the] prices in the U.S. and the peso weakness result in a 6% net sales increase. EBITDA rose 7%, and EBITDA margin improved to 15.5%, reflecting changes arising from the adoption of IFRS 16, while leases have to be considered as assets and the lease expenses are considered depreciation, therefore, benefiting the EBITDA
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