GRUMA ANNUAL REPORT 2000
FOCUS TABLE OF CONTENTS
GRUMA’s Mission and Business Strategy – 3 the principles that guide the company in its efforts to build value for its shareholders.
Letter from the Chairman – Roberto González 4 Barrera, Chairman of GRUMA’s Board of Directors, reviews the company’s performance and discusses its competitive advantages and future outlook.
An Interview with the Executive Committee – 6 The members of GRUMA’s Executive Committee answer frequently posed questions about the company’s performance and strategy.
Focus – snapshots of GRUMA’s strengths, 8 accomplishments, and efforts to create sustainable shareholder value.
Review of Operations – a summary of the 11 market environments and value drivers of the company’s operating subsidiaries.
Management Discussion and Analysis – 19 an examination of GRUMA’s 2000 financial results.
Eleven-year Financial Summary – a chart 25 showing GRUMA’s growth and financial performance over the past decade.
Financial Statements – a presentation of the 27 company’s audited financial results under Mexican GAAP.
GRUMA’S Board of Directors and Officers – 59 biographical information of GRUMA’s officers and the members of its Board of Directors. GRUMA, S.A. DE C.V., IS THE LARGEST CORN FLOUR AND TORTILLA PRODUCER AND DISTRIBUTOR IN THE WORLD.
FOUNDED IN 1949, GRUMA HAS OPERATIONS IN MEXICO, THE UNITED STATES, CENTRAL AMERICA, VENEZUELA, AND, MORE RECENTLY, EUROPE. GRUMA IS ENGAGED PRIMARILY IN THE PRODUC- TION, SALE, AND DISTRIBUTION OF TORTILLAS, CORN FLOUR, WHEAT FLOUR, AND BREAD PRODUCTS.
GRUMA’s VISION is to be the absolute world leader in the manufacturing, marketing, and distribution in the growing corn flour and tortilla markets, as well as one of the primary processors of grain and basic grain-based food products in Mexico, Central America, Venezuela, and Colombia. THE MARKETS FOR GRUMA’S CORE BUSINESSES STILL REPRESENT A TREMENDOUS GROWTH OPPORTUNITY
POTENTIAL MARKET AS OF DECEMBER 2000 (1) (U.S. dollars in millions)
Corn Flour 35% 670
Tortillas 25% 1,900 STATES UNITED
Corn Flour 34% 1,400
Wheat Flour 15% 780 3,500 Corn tortillas 1%
Bread(2) 13% 65
Corn Flour 11% 460 CENTRAL AMERICA
Corn Flour 34% 410
Wheat Flour 23% 330 VENEZUELA MEXICO