Increase in Export Sales
Exports were up 21% with double-digit increases in both converted product and hard rolled sales.
Cost Reduction Achievements
The cost reduction program yielded approximately MXN450 million of savings in the quarter, mainly at the cost of goods sold level.
Strong Balance Sheet
Cash position as of March 31st was MXN11.8 billion with a net debt-to-EBITDA ratio of 0.9 times and EBITDA to net interest coverage of 11 times.
Innovation and New Product Launch
Launch of super premium diaper, Huggies Black Label, and improvements in baby wipes. Plans to enter the pet food business in partnership with Grupo Nutec.
Dividend Increase
Shareholders approved a dividend payment of MXN2.04, a 10% increase from last year, and a stock repurchase plan of MXN1,500 million, a 50% increase from last year.