Operator

Good day, and welcome to Grupo Herdez's First Quarter 2026 Earnings Conference Call. This call is being recorded.

Information discussed may include forward-looking statements subject to risks and uncertainties. Please refer to the forward-looking statement disclaimer in the company's press release.

I'll now turn the call over to Andrea Amozurrutia, Chief Financial and Sustainability Officer. Please go ahead.

Andrea Casillas
Director of Finance & Sustainability

Thank you, Bailey. Good morning, everyone. Thank you for joining us today to discuss our first quarter 2026 results. I am pleased to walk you through our performance and more importantly, the strategic steps we are taking to solidify our position for the remainder of the year. Before we discuss the numbers, I would like to clarify the structural changes in our financial reporting.

As you know, we successfully finalized the sale of our 25% stake in McCormick de Mexico at the beginning of the year. To ensure total clarity, our stake is now recorded under equity investments in associated companies and the strategic fees are integrated into revenues from related parties. Consequently, the figures we explained in the press release and in this call are on a pro forma basis.

Excluding McCormick de Mexico from our consolidation and removing Grupo Nutresa from the baseline. We believe this is the most accurate way to understand the organic evolution of our core business.

Turning to our quarterly performance, we posted a 17.5% growth in net sales, reaching MXN 5.2 billion. While the market context remains complex, this growth is a direct result