Q2 2019 Gruma SAB de CV Earnings Call Transcript
Good morning, ladies and gentlemen, thank you for standing by. Welcome to GRUMA's Second Quarter 2019 Earnings Conference Call. (Operator Instructions) I would now like to turn the conference over to our host, Mr. Raul Cavazos, GRUMA's Chief Financial Officer. Please go ahead.
Thank you. Good morning, everyone, and thank you for joining us today.
We are pleased to discuss our second quarter 2019 performance with you. Second quarter results have shown an important improvement as compared to the beginning of the year, especially in the U.S., where through internal initiatives, we have been able to offset most cost pressures, giving us some margin expansions while assuming higher growth rate.
In the case of GIMSA in Mexico, after a weaker start of the year, second quarter reflected a volume increase of 12% versus first quarter 2018 while EBITDA margin was similar.
Gruma Europe has also achieved an important margin expansion versus the beginning of the year. And other subsidiaries and
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