• Dividends reached an all-time high with US$91 million paid.
• EBITDA also reached a record year reflecting financial strength.
• Operating profit had a record year, growing 6.5% compared to 2023.
• FIFCO made significant progress in understanding new International Financial Reporting Standards (IFRS) S1 and S2.

2024 was a year of solid financial and sustainability results for FIFCO. These reflect the strategies implemented to strengthen its leadership and consolidate its sustainable growth. During this period, FIFCO achieved historic levels of operating profit, EBITDA and dividends, reflecting management focused on financial strength and operational efficiency. In addition, its results in Sustainability allowed it to accelerate progress in the 7 Environmental, Social and Governance (ESG) goals. Furthermore, FIFCO is once again a pioneer in sustainability, presenting significant progress in International Financial Reporting Standards (IFRS) S1 and S2 in its most recent integrated report.

Key financial results

• Net profit attributable to shareholders for the period: ₡69,377 million.
• 6.5% growth in operating profit before other expenses.
• 6.2% growth in EBITDA (operating profit before other expenses, interest, taxes, depreciation and amortization).
• 5.2% growth in total food volume.

See details https://www.fifco.com/estados-financiero/

1. Record financial results and commitment to shareholders

FIFCO’s financial performance in 2024 reflected significant growth in operating profit and EBITDA, as well as record dividend generation, which exceeded 91 million dollars. These results consolidated shareholder confidence and reinforced the company’s commitment to long-term financial and operational sustainability, in line with its strategic vision towards 2027.

2. Strengthening Brand Power

The positioning of FIFCO’s flagship products was strengthened thanks to a comprehensive brand strategy. The company promoted initiatives that reinforced the identity and recognition of its brands in the market, consolidating consumer loyalty and expanding its presence in strategic categories.

3. Capital investments and digital transformation

FIFCO resumed strategic investments aimed at modernizing its infrastructure and optimizing its value chain. The digital transformation continued to evolve as a fundamental pillar, boosting operational efficiency and streamlining decision-making to respond more effectively to market needs.

4. Expansion and diversification

During 2024, FIFCO made progress in consolidating its presence in strategic markets, diversifying its portfolio and strengthening its competitiveness. The company capitalized on opportunities in key geographies, optimizing its commercial offer and ensuring a strategy aligned with consumer demand in each market. The company makes strategic decisions to stabilize and strengthen important geographies such as FIFCO USA. 

Recognition and strengthening of corporate governance

Within the framework of these achievements, FIFCO reaffirmed its leadership in sustainability and corporate governance by being recognized as the most responsible company in the country according to the MERCO ESG monitor in 2024. This recognition validated its commitment to the triple bottom line and its leadership in environmental, social and governance practices. In addition, the company received a positive assessment of the organizational climate from its collaborators, reflecting the strength of its corporate culture and its focus on the development of human talent.

In terms of governance, the company carried out its annual evaluation of the Board of Directors with the support of a specialized and independent firm, obtaining an overall rating of 99.5%. This result confirmed that the Board of Directors’ performance exceeded local regulatory standards and was in line with international best practices.

“Our expansion and diversification strategy continues to be implemented and consolidated. I am excited to look ahead and see how this 117-year-old organization continues to reinvent itself, keeping its entrepreneurial spirit and commitment to the triple bottom line alive,” expressed Rolando Carvajal Bravo, FIFCO’s CEO.

With these achievements, FIFCO closed 2024 consolidating its leadership in the sector and demonstrating its ability to generate sustainable value in the long term. The company maintains its focus on strengthening its consolidated markets, driving innovation, expanding its geographical presence and advancing in the digital and operational transformation that will guarantee its competitiveness in the coming years.

FIFCO in numbers

• 9 countries with operations: Costa Rica, United States, Mexico, Guatemala, El Salvador, Honduras, Nicaragua, Panama, Dominican Republic,
• 6,883 collaborators
• 2,200 shareholders
• 5 production plants
• 13 distribution centers
• 3,471 local and international suppliers
• Exports to 13 countries
• +2,600 products

Expansive Sustainability

In addition to its solid financial and operational performance, FIFCO continues to expand its social impact through initiatives that generate value beyond its operations. The company has maintained a firm commitment to the well-being of its collaborators, the development of the communities in which it operates and the promotion of responsible business practices.

Through programs focused on gender equality, reduction of multidimensional poverty and promotion of smart consumption, FIFCO reaffirms its role as an agent of change, actively contributing to the construction of a more inclusive and sustainable society.

Under the Expansive Sustainability concept, FIFCO continues to consolidate a strategy that transcends the traditional limits of ESG management, promoting innovative solutions and strategic alliances that magnify its positive impact. With this approach, FIFCO not only seeks to optimize its internal processes, but also to inspire and generate significant change in its value chain and in the business ecosystem in which it operates.

NIIF S1 y S2

FIFCO made significant progress in understanding the new applications of International Financial Reporting Standards (IFRS) S1 and S2. During 2023, FIFCO made public its registration to the Task Force on Climate-related Financial Disclosures (TCFD), adopting this model as the basis for the development of its climate action methodology. In line with global updates and trends, progress was made in understanding IFRS S1 and S2, which are based on the TCFD framework and will be mandatory for financial and accounting entities in Costa Rica until the 2026 report. The main objective of these international standards is to provide a regulatory framework of global disclosure standards, so that companies can measure and disclose the financial risks associated with the impact of sustainability and climate change on their operations, both directly and indirectly.