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Jose Cuervo Becle , S.A.B. de C.V. Reports First Quarter 2021 Unaudited Financial Results Mexico City , Mexico , April 26 , 2021 / BUSINESSWIRE / -- BECLE , S.A.B. de C.V. ( " Cuervo " , " Becle ” or the “ Company ” ) ( BMV : CUERVO ) today announced financial results for the quarter ended March 31 , 2021 . All figures in this release are derived from the interim consolidated financial statements of the Company as of March 31 , 2021 , and for the three - month period then ended , which are prepared in accordance with International Financial Reporting Standard ( IFRS ) . First quarter 2021 highlights • Volume increased 43.4 % to 4.8 million nine - liter cases ; • Net sales increased 37.7 % to P $ 7,168 million pesos ; • • • Gross profit increased 42.9 % to P $ 3,843 million pesos . Gross margin was 53.6 % , an increase of 1.9 percentage points year over year ; EBITDA increased 173.4 % to P $ 1,881 million pesos . EBITDA margin was 26.2 % , an increase of 13.0 percentage points year over year ; Consolidated net income increased 77.0 % to P $ 1,234 million pesos . Net margin was 17.2 % , an increase of 3.8 percentage points year over year and ; • Earnings per share were P $ 0.34 . All abovementioned increases and decreases have been determined in comparison to the corresponding period in the preceding year . Management commentary The first quarter of 2021 continued to present challenges in many of the Company's markets due to the extended COVID - 19 pandemic and the on premise channel still affected . However , the Company was able to adapt quickly to the difficult and often changing market conditions and continued to execute its business plan effectively . As a result , Becle delivered 38 % net sales growth year on year . This was driven by another quarter of strong results in the United States and Canada , as well as a gradual recovery in the Mexico region . The Company is confident that its work over the years to build a portfolio of leading , trusted , and desirable brands , focused on high - growth spirits categories and supported by a global distribution network , will allow it to further generate value for its shareholders . 1