Overview
- Mastellone Hnos., owner of La Serenísima, posted a net loss of $11,300 million for the first quarter of 2026 after a profit a year earlier, citing weak profitability and seasonal drops in demand.
- The company said domestic sales volumes in the quarter inched up 0.8% to 158,000 tonnes, while exports rose about 25% to 17,000 tonnes but earned thin margins due to a stronger peso.
- Balance-sheet pressure intensified as net equity fell to $357,983 million from $424,200 million and the liquidity ratio slid to 0.95 from 1.56.
- Management is assessing financing options for an upcoming international bond maturity and stated it expects to meet the payment while trying to lower borrowing costs.
- Ownership is shifting after a March agreement for Bagley Latinoamérica, the Arcor–Danone joint venture, to buy the remaining 51% stake, a step that follows staged deals dating back to 2015.