MEXICAN STOCK EXCHANGE - PDF Free Download

STOCK EXCHANGE CODE: GRUPO INDUSTRIAL, S.A.B. DE C.V. STATEMENT OF FINANCIAL POSITION QUARTER: 4 YEAR: 215 REF AT 31 DECEMBER 215 AND 31 DECEMBER 214 (Thousand Pesos) ACCOUNT / SUBACCOUNT ENDING CURRENT PREVIOUS YEAR END Amount Amount 1 TOTAL ASSETS 12,32,185 1,98,911 11 TOTAL CURRENT ASSETS 5,514,737 4,375,184 111 CASH AND CASH EQUIVALENTS 534,466 237,172 112 SHORT-TERM INVESMENTS 1121 AVAILABLE-FOR-SALE INVESTMENTS 1122 TRADING INVESTMENTS 1123 HELD-TO-MATURITY INVESTMENTS 113 TRADE RECEIVABLES, NET 1,81,351 9,243 1131 TRADE RECEIVABLES 1,221,592 1,71,175 1132 ALLOWANCE FOR DOUBTFUL ACCOUNTS -14,241-17,932 114 OTHER RECEIVABLES, NET 74,487 67,9 1141 OTHER RECEIVABLES 74,487 67,9 1142 ALLOWANCE FOR DOUBTFUL ACCOUNTS 115 INVENTORIES 3,77,327 2,54,838 1151 BIOLOGICAL CURRENT ASSETS 116 OTHER CURRENT ASSETS 81,16 26,922 1161 PREPAYMENTS 4,88 26,922 1162 DERIVATIVE FINANCIAL INSTRUMENTS 4,298 1163 ASSETS AVAILABLE FOR SALE 1165 RIGHTS AND LICENSES 1166 OTHER 12 TOTAL NON-CURRENT ASSETS 6,787,448 6,533,727 121 ACCOUNTS RECEIVABLE, NET 27,431 155,488 122 INVESTMENTS 38 37 1221 INVESTMENTS IN ASSOCIATES AND JOINT VENTURES 1222 HELD-TO-MATURITY INVESTMENTS 1223 AVAILABLE-FOR-SALE INVESTMENTS 1224 OTHER INVESTMENTS 38 37 123 PROPERTY, PLANT AND EQUIPMENT, NET 4,346,567 4,76,425 1231 LAND AND BUILDINGS 2,23,429 1,978,78 1232 MACHINERY AND INDUSTRIAL EQUIPMENT 8,4,25 7,921,181 1233 OTHER EQUIPMENT 9,83 95,885 1234 ACCUMULATED DEPRECIATION -6,397,648-6,175,695 1235 CONSTRUCTION IN PROGRESS 23,498 256,274 124 INVESTMENT PROPERTY 125 BIOLOGICAL NON- CURRENT ASSETS 126 INTANGIBLE ASSETS,NET 1,75,72 2,141,546 1261 GOODWILL 166,425 166,425 1262 TRADEMARKS 1,561,991 1,952,491 1263 RIGHTS AND LICENSES 12631 CONCESSIONS 1264 OTHER INTANGIBLE ASSETS 22,286 22,63 127 DEFERRED TAX ASSETS 482,71 16,231 128 OTHER NON-CURRENT ASSETS 1281 PREPAYMENTS 1281 DERIVATIVE FINANCIAL INSTRUMENTS 1282 EMPLOYEE BENEFITS 12821 AVAILABLE FOR SALE ASSETS 1284 DEFERRED CHARGES 1285 OTHER 2 TOTAL LIABILITIES 2,579,23 2,943,529 21 TOTAL CURRENT LIABILITIES 2,87,683 2,291,459 211 BANK LOANS 212 STOCK MARKET LOANS 213 OTHER LIABILITIES WITH COST 214 TRADE PAYABLES 1,419,247 1,548,976 215 TAXES PAYABLE 15,165 2151 INCOME TAX PAYABLE 15,165 2152 OTHER TAXES PAYABLE 216 OTHER CURRENT LIABILITIES 668,436 592,318

STOCK EXCHANGE CODE: GRUPO INDUSTRIAL, S.A.B. DE C.V. STATEMENT OF FINANCIAL POSITION QUARTER: 4 YEAR: 215 REF AT 31 DECEMBER 215 AND 31 DECEMBER 214 (Thousand Pesos) ACCOUNT / SUBACCOUNT ENDING CURRENT PREVIOUS YEAR END Amount Amount 2161 INTEREST PAYABLE 2162 DERIVATIVE FINANCIAL INSTRUMENTS 27,29 49,24 2163 DEFERRED REVENUE 2165 EMPLOYEE BENEFITS 2166 PROVISIONS 21661 CURRENT LIABILITIES RELATED TO AVAILABLE FOR SALE ASSETS 2168 OTHER 641,227 543,294 22 TOTAL NON-CURRENT LIABILITIES 491,34 652,7 221 BANK LOANS 222 STOCK MARKET LOANS 223 OTHER LIABILITIES WITH COST 224 DEFERRED TAX LIABILITIES 274,36 444,127 225 OTHER NON-CURRENT LIABILITIES 216,98 27,943 2251 DERIVATIVE FINANCIAL INSTRUMENTS 2252 DEFERRED REVENUE 2254 EMPLOYEE BENEFITS 216,98 27,943 2255 PROVISIONS 22551 NON-CURRENT LIABILITIES RELATED TO AVAILABLE FOR SALE ASSETS 2257 OTHER 3 TOTAL EQUITY 9,723,162 7,965,382 31 EQUITY ATTRIBUTABLE TO OWNERS OF PARENT 9,465,586 7,692,92 33 CAPITAL STOCK 183,681 183,681 34 SHARES REPURCHASED 35 PREMIUM ON ISSUANCE OF SHARES 333,734 333,734 36 CONTRIBUTIONS FOR FUTURE CAPITAL INCREASES 37 OTHER CONTRIBUTED CAPITAL 38 RETAINED EARNINGS (ACCUMULATED LOSSES) 8,948,171 7,175,55 381 LEGAL RESERVE 36,736 36,736 382 OTHER RESERVES 383 RETAINED EARNINGS 6,78,531 5,938,898 384 NET INCOME FOR THE PERIOD 2,22,94 1,199,871 385 OTHERS 39 ACCUMULATED OTHER COMPREHENSIVE INCOME (NET OF TAX) 391 GAIN ON REVALUATION OF PROPERTIES 392 ACTUARIAL GAINS (LOSSES) FROM LABOR OBLIGATIONS 393 FOREING CURRENCY TRANSLATION 394 CHANGES IN THE VALUATION OF FINANCIAL ASSETS AVAILABLE FOR SALE 395 CHANGES IN THE VALUATION OF DERIVATIVE FINANCIAL INSTRUMENTS 396 CHANGES IN FAIR VALUE OF OTHER ASSETS SHARE OF OTHER COMPREHENSIVE INCOME OF 397 ASSOCIATES AND JOINT VENTURES 398 OTHER COMPREHENSIVE INCOME 32 NON-CONTROLLING INTERESTS 257,576 272,462

STOCK EXCHANGE CODE: GRUPO INDUSTRIAL, S.A.B. DE C.V. STATEMENT OF FINANCIAL POSITION INFORMATIONAL DATA QUARTER: 4 YEAR: 215 REF AT 31 DECEMBER 215 AND 31 DECEMBER 214 (Thousand Pesos) ACCOUNT CONCEPTS / SUBACCOUNT ENDING CURRENT PREVIOUS YEAR END Amount Amount 911 SHORT-TERM FOREIGN CURRENCY LIABILITIES 667,674 921,48 912 LONG TERM FOREIGN CURRENCY LIABILITIES 913 CAPITAL STOCK (NOMINAL) 183,681 183,681 914 RESTATEMENT OF CAPITAL STOCK 915 PLAN ASSETS FOR PENSIONS AND SENIORITY PREMIUMS 916 NUMBER OF EXECUTIVES (*) 123 129 917 NUMBER OF EMPLOYEES (*) 2,746 2,58 918 NUMBER OF WORKERS (*) 1,791 1,589 919 OUTSTANDING SHARES (*) 918,45, 918,45, 911 REPURCHASED SHARES (*) 9111 RESTRICTED CASH (1) 9112 GUARANTEED DEBT OF ASSOCIATED COMPANIES (1) THIS CONCEPT MUST BE FILLED WHEN THERE ARE GUARANTEES OR RESTRICTIONS THAT AFECCT CASH AND CASH EQUIVALENTS (*) DATA IN UNITS

STOCK EXCHANGE CODE: GRUPO INDUSTRIAL, S.A.B. DE C.V. STATEMENTS OF COMPREHENSIVE INCOME QUARTER: 4 YEAR: 215 REF FOR THE TWELVE AND THREE MONTHS ENDED 31 DECEMBER, 215 AND 214 ACCOUNT / SUBACCOUNT (Thousand Pesos) CURRENT YEAR PREVIOUS YEAR ACCUMULATED QUARTER ACCUMULATED QUARTER 41 REVENUE 15,871,348 4,175,577 15,74,17 3,874,6 411 SERVICES 412 SALE OF GOODS 15,871,348 4,175,577 15,74,17 3,874,6 413 INTERESTS 414 ROYALTIES 415 DIVIDENDS 416 LEASES 4161 CONSTRUCTIONS 417 OTHER REVENUE 42 COST OF SALES 11,,61 2,886,511 1,379,911 2,63,426 421 GROSS PROFIT 4,87,738 1,289,66 4,694,196 1,243,634 43 GENERAL EXPENSES 2,573,29 719,457 2,435,882 657,41 44 PROFIT (LOSS) BEFORE OTHER INCOME (EXPENSE), NET 2,297,448 569,69 2,258,314 586,593 45 OTHER INCOME (EXPENSE), NET -92,38-27,239-128,947-15,316 46 OPERATING PROFIT (LOSS) (*) 2,25,14 542,37 2,129,367 481,277 47 FINANCE INCOME 434,239 99,5 4,923 8,31 471 INTEREST INCOME 37,753 5,48 14,996 3,234 472 GAIN ON FOREIGN EXCHANGE, NET 54,285 34,655 25,927 4,797 473 GAIN ON DERIVATIVES, NET 342,21 58,87 474 GAIN ON CHANGE IN FAIR VALUE OF FINANCIAL INSTRUMENTS 475 OTHER FINANCE INCOME 48 FINANCE COSTS 232,67 3,648 148,54 32,826 481 INTEREST EXPENSE 15,287 3,117 65,73 7,186 482 LOSS ON FOREIGN EXCHANGE, NET 217,383 27,531 59,462 25,64 483 LOSS ON DERIVATIVES, NET 23,375 485 LOSS ON CHANGE IN FAIR VALUE OF FINANCIAL INSTRUMENTS 486 OTHER FINANCE COSTS 49 FINANCE INCOME (COSTS), NET 21,569 68,357-17,617-24,795 41 SHARE OF PROFIT (LOSS) OF ASSOCIATES AND JOINT VENTURES 411 PROFIT (LOSS) BEFORE INCOME TAX 2,46,79 61,727 2,21,75 456,482 412 INCOME TAX EXPENSE 21,376-211,652 626,95 129,61 4121 CURRENT TAX 688,46 14,463 716,69 244,247 4122 DEFERRED TAX -487,84-352,115-89,785-114,646 413 PROFIT (LOSS) FROM CONTINUING OPERATIONS 2,25,333 822,379 1,394,845 326,881 414 PROFIT (LOSS) FROM DISCONTINUED OPERATIONS -195,82-1,674 415 NET PROFIT (LOSS) 2,25,333 822,379 1,199,763 325,27 416 PROFIT (LOSS), ATTRIBUTABLE TO NON-CONTROLLING INTERESTS 2,429-8,481-18 -16,12 417 PROFIT (LOSS), ATTRIBUTABLE TO OWNERS OF PARENT 2,22,94 83,86 1,199,871 341,219 418 BASIC EARNINGS (LOSS) PER SHARE 2.4.9 1.31.37 419 DILUTED EARNINGS (LOSS) PER SHARE..

STOCK EXCHANGE CODE: GRUPO INDUSTRIAL, S.A.B. DE C.V. STATEMENTS OF COMPREHENSIVE INCOME OTHER COMPREHENSIVE INCOME (NET OF INCOME TAX) FOR THE TWELVE AND THREE MONTHS ENDED 31 DECEMBER, 215 AND 214 REF ACCOUNT / SUBACCOUNT (Thousand Pesos) QUARTER: 4 YEAR: 215 CURRENT YEAR PREVIOUS YEAR ACCUMULATED QUARTER ACCUMULATED QUARTER 42 NET PROFIT (LOSS) 2,25,333 822,379 1,199,763 325,27 DISCLOSURES NOT BE RECLASSIFIED ON INCOME 421 PROPERTY REVALUATION GAINS 422 ACTUARIAL EARNINGS (LOSS) FROM LABOR OBLIGATIONS -2,336-2,336-47,687-47,687 4221 SHARE OF INCOME ON REVALUATION ON PROPERTIES OF ASSOCIATES AND JOINT VENTURES DISCLOSURES MAY BE RECLASSIFIED SUBSEQUENTLY TO INCOME 423 FOREING CURRENCY TRANSLATION 424 CHANGES IN THE VALUATION OF FINANCIAL ASSETS HELD-FOR-SALE 425 CHANGES IN THE VALUATION OF DERIVATIVE FINANCIAL INSTRUMENTS -1,95 426 CHANGES IN FAIR VALUE OF OTHER ASSETS 427 SHARE OF OTHER COMPREHENSIVE INCOME OF ASSOCIATES AND JOINT VENTURES 428 OTHER COMPREHENSIVE INCOME 4,259 4,259 1,16 1,16 429 TOTAL OTHER COMPREHENSIVE INCOME -16,77-17,982-37,671-37,671 43 TOTAL COMPREHENSIVE INCOME 2,189,256 84,397 1,162,92 287,536 432 COMPREHENSIVE INCOME, ATTRIBUTABLE TO NON-CONTROLLING INTERESTS 3,34-7,66-1,816-17,721 431 COMPREHENSIVE INCOME, ATTRIBUTABLE TO OWNERS OF PARENT 2,185,952 812,3 1,163,98 35,257

STOCK EXCHANGE CODE: GRUPO INDUSTRIAL, S.A.B. DE C.V. STATEMENTS OF COMPREHENSIVE INCOME INFORMATIONAL DATA QUARTER: 4 YEAR: 215 REF FOR THE TWELVE AND THREE MONTHS ENDED 31 DECEMBER, 215 AND 214 ACCOUNT / SUBACCOUNT (Thousand Pesos) CURRENT YEAR PREVIOUS YEAR ACCUMULATED QUARTER ACCUMULATED QUARTER 921 OPERATING DEPRECIATION AND AMORTIZATION 736,697 184,941 698,493 181,383

STOCK EXCHANGE CODE: GRUPO INDUSTRIAL, S.A.B. DE C.V. STATEMENTS OF COMPREHENSIVE INCOME INFORMATIONAL DATA (12 MONTHS) QUARTER: 4 YEAR: 215 (Thousand Pesos) CURRENT YEAR YEAR PREVIOUS YEAR REF ACCOUNT / SUBACCOUNT ACCUMULATED CURRENTQUARTER ACCUMULATED PREVIOUSQUARTER 923 REVENUE NET (**) 15,871,348 15,74,17 924 OPERATING PROFIT (LOSS) (**) 2,25,14 2,129,367 926 NET PROFIT (LOSS) (**) 2,25,333 1,199,763 925 PROFIT (LOSS), ATTRIBUTABLE TO OWNERS OF PARENT(**) 2,22,94 1,199,871 927 OPERATING DEPRECIATION AND AMORTIZATION (**) 736,697 698,493 (*) TO BE DEFINED BY EACH COMPANY (**) INFORMATION LAST 12 MONTHS

STOCK EXCHANGE CODE: GRUPO INDUSTRIAL, S.A.B. DE C.V. STATEMENT OF CHANGES IN EQUITY (THOUSAND PESOS) QUARTER: 4 YEAR: 215 CONCEPTS CAPITAL STOCK SHARES REPURCHASED PREMIUM ON ISSUANCE OF SHARES CONTRIBUTIONS FOR FUTURE CAPITAL INCREASES OTHER CAPITAL CONTRIBUTED RETAINED EARNINGS (ACCUMULATED LOSSES) RESERVES UNAPPROPRIATE D EARNINGS (ACCUMULATED LOSSES) ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) EQUITY ATTRIBUTABLE TO OWNERS OF PARENT NON- CONTROLLING INTERESTS TOTAL EQUITY BALANCE AT JANUARY 1, 214 183,681 333,734 6,498,35 7,15,765 293,822 7,39,587 RETROSPECTIVE ADJUSTMENTS APPLICATION OF COMPREHENSIVE INCOME TO RETAINED EARNINGS RESERVES DIVIDENDS -486,753-486,753-19,544-56,297 CAPITAL INCREASE (DECREASE) REPURCHASE OF SHARES (DECREASE) INCREASE IN PREMIUM ON ISSUE OF SHARES (DECREASE) INCREASE IN NON-CONTROLLING INTERESTS OTHER CHANGES COMPREHENSIVE INCOME 1,163,98 1,163,98-1,816 1,162,92 BALANCE AT DECEMBER 31, 214 183,681 333,734 7,175,55 7,692,92 272,462 7,965,382 BALANCE AT JANUARY 1, 215 183,681 333,734 7,175,55 7,692,92 272,462 7,965,382 RETROSPECTIVE ADJUSTMENTS APPLICATION OF COMPREHENSIVE INCOME TO RETAINED EARNINGS RESERVES DIVIDENDS -413,286-413,286-18,19-431,476 CAPITAL INCREASE (DECREASE) REPURCHASE OF SHARES (DECREASE) INCREASE IN PREMIUM ON ISSUE OF SHARES (DECREASE) INCREASE IN NON-CONTROLLING INTERESTS OTHER CHANGES COMPREHENSIVE INCOME 2,185,952 2,185,952 3,34 2,189,256 BALANCE AT DECEMBER 31, 215 183,681 333,734 8,948,171 9,465,586 257,576 9,723,162

STOCK EXCHANGE CODE: GRUPO INDUSTRIAL, S.A.B. DE C.V. STATEMENT OF CASH FLOWS QUARTER: 4 YEAR: 215 FOR THE TWELVE MONTHS ENDED 31 DECEMBER, 215 AND 214 (Thousand Pesos) REF OPERATING ACTIVITIES ACCOUNT/SUBACCOUNT CURREENT YEAR Amount PREVIOUS YEAR 51 PROFIT (LOSS) BEFORE INCOME TAX 2,46,79 2,21,75 52 +(-) ITEMS NOT REQUIRING CASH 521 + ESTIMATE FOR THE PERIOD 522 + PROVISION FOR THE PERIOD 523 +(-) OTHER UNREALISED ITEMS 53 +(-) ITEMS RELATED TO INVESTING ACTIVITIES 761,393 724,558 531 DEPRECIATION AND AMORTISATION FOR THE PERIOD 736,698 672,963 532 (-)+ GAIN OR LOSS ON SALE OF PROPERTY, PLANT AND EQUIPMENT -23 34,821 533 +(-) LOSS (REVERSAL) IMPAIRMENT 534 (-)+ EQUITY IN RESULTS OF ASSOCIATES AND JOINT VENTURES 535 (-) DIVIDENDS RECEIVED 536 (-) INTEREST RECEIVED -4,19-3,434 537 (-) EXCHANGE FLUCTUATION 538 (-)+ OTHER INFLOWS (OUTFLOWS) OF CASH 28,98 2,28 54 +(-) ITEMS RELATED TO FINANCING ACTIVITIES 161,298 129,7 541 (+) ACCRUED INTEREST 11,289 46,93 542 (+) EXCHANGE FLUCTUATION 163,98 33,89 543 (+) DERIVATIVE TRANSACTIONS -13,89 49,24 544 (-)+ OTHER INFLOWS (OUTFLOWS) OF CASH 55 CASH FLOWS BEFORE INCOME TAX 3,329,4 2,875,315 56 CASH FLOWS FROM (USED IN) OPERATING ACTIVITIES -1,979,32-373,871 561 +(-) DECREASE (INCREASE) IN TRADE ACCOUNTS RECEIVABLE -232,25 14,447 562 +(-) DECREASE (INCREASE) IN INVENTORIES -536,489 1,394 563 +(-) DECREASE (INCREASE) IN OTHER ACCOUNTS RECEIVABLE -294,761 492,52 564 +(-) INCREASE (DECREASE) IN TRADE ACCOUNTS PAYABLE -292,827 291,245 565 +(-) INCREASE (DECREASE) IN OTHER LIABILITIES 22,767-493,185 566 +(-) INCOME TAXES PAID OR RETURNED -843,787-779,274 57 NET CASH FLOWS FROM (USED IN) OPERATING ACTIVITIES 1,35,98 2,51,444 INVESTING ACTIVITIES 58 NET CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES -561,15-211,67 581 (-) PERMANENT INVESTMENTS 582 + DISPOSITION OF PERMANENT INVESTMENTS 583 (-) INVESTMENT IN PROPERTY, PLANT AND EQUIPMENT -616,934-343,813 584 + SALE OF PROPERTY, PLANT AND EQUIPMENT 51,651 48,383 585 (-) TEMPORARY INVESTMENTS 586 + DISPOSITION OF TEMPORARY INVESTMENTS 587 (-) INVESTMENT IN INTANGIBLE ASSETS -754-1,35 588 + DISPOSITION OF INTANGIBLE ASSETS 589 (-) ACQUISITIONS OF VENTURES 581 + DISPOSITIONS OF VENTURES 155,12 5811 + DIVIDEND RECEIVED 5812 + INTEREST RECEIVED 5813 +(-) DECREASE (INCREASE) ADVANCES AND LOANS TO THIRD PARTS 5814 -(+) OTHER INFLOWS (OUTFLOWS) OF CASH 5,22-69,344 FINANCING ACTIVITIES 59 NET CASH FLOW FROM (USED IN) FINANCING ACTIVITIES -491,789-2,92,847 591 + BANK FINANCING 592 + STOCK MARKET FINANCING 593 + OTHER FINANCING -49,24 9,543 594 (-) BANK FINANCING AMORTISATION -1,55, 595 (-) STOCK MARKET FINANCING AMORTISATION 596 (-) OTHER FINANCING AMORTISATION 597 +(-) INCREASE (DECREASE) IN CAPITAL STOCK 598 (-) DIVIDENDS PAID -431,476-56,297 599 + PREMIUM ON ISSUANCE OF SHARES 591 + CONTRIBUTIONS FOR FUTURE CAPITAL INCREASES 5911 (-) INTEREST EXPENSE -11,289-46,93 5912 (-) REPURCHASE OF SHARES 5913 (-)+ OTHER INFLOWS (OUTFLOWS) OF CASH Amount

STOCK EXCHANGE CODE: GRUPO INDUSTRIAL, S.A.B. DE C.V. STATEMENT OF CASH FLOWS QUARTER: 4 YEAR: 215 FOR THE TWELVE MONTHS ENDED 31 DECEMBER, 215 AND 214 (Thousand Pesos) REF ACCOUNT/SUBACCOUNT CURREENT YEAR Amount PREVIOUS YEAR 51 NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 297,294 197,53 511 EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS 512 CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 237,172 39,642 513 CASH AND CASH EQUIVALENTS AT END OF PERIOD 534,466 237,172 Amount

STOCK EXCHANGE CODE: QUARTER: 4 YEAR: 215 GRUPO INDUSTRIAL, S.A.B. DISCUSSION AND ANALYSIS OF THE DE C.V. ADMINISTRATION ON THE RESULTS OF PAGE 1 / 3 OPERATIONS AND FINANCIAL CONDITION OF THE COMPANY GIMSA REPORTS FOURTH QUARTER 215 RESULTS RESULTS OF OPERATIONS 4Q15 versus 4Q14 Sales volume increased 4% to 485 thousand metric tons. Corn flour sales volume rose 6% due mainly to (1) tortilla producers because of the strengthening of commercial initiatives aimed at improving customer service; (2) higher intercompany sales to our U.S. corn flour operations to support their growth; and (3) higher sales to snack producers due to conversion from the traditional method to corn flour. The increase was partially offset by the reclassification of byproducts for animal feed, an operation that effective April 215 is no longer part of GIMSA as it was incorporated into a new subsidiary within Other Subsidiaries and Eliminations. Net sales grew 8% to Ps.4,176 million in connection with the aforementioned sales volume growth, and higher prices implemented to reflect higher corn costs. Also, net sales rose in connection with (1) the peso weakness on intercompany sales to the U.S. operations as those sales are dollar denominated; (2) a change in the sales mix towards corn flour resulting from the aforementioned reclassification of the byproducts for animal feed operation; and (3) an extraordinary corn sale to third parties of Ps.41 million, which benefits net sales but is not reflected in sales volume. Cost of sales as a percentage of net sales increased to 69.1% from 67.9% as a result of (1) higher corn costs mostly resulting from peso weakness; (2) higher transportation costs for corn related to higher tariffs and to longer distances as more corn was procured during the Sinaloa summer crop; (3) increases in additives and packaging costs in connection with the weaker peso, changes in formulation and improved packaging for some SKUs; and (4) the aforementioned extraordinary corn sale at very low margins. In absolute terms, cost of sales rose 1% to Ps.2,887 million mostly due to the aforementioned volume growth and higher costs. SG&A as a percentage of net sales increased to 17.2% from 17.% and, in absolute terms, SG&A rose 9% to Ps.719 million due mainly to (1) higher freight expenses in connection with volume growth, higher freight tariffs and higher intercompany shipments resulting from capacity constrains in some regions; (2) new distribution centers; and (3) higher severance payments and year-end accounting adjustments related to higher provisions on employee benefits. Operating income increased 13% to Ps.542 million due to lower other expense, net. In 4Q14 GIMSA reported higher losses on natural gas hedging and a write-off of fixed assets. Operating margin improved to 13.% from 12.4% due to the aforementioned reduction in other expense, net. EBITDA increased 1% to Ps.727 million. EBITDA margin improved to 17.4% from 17.1%. Net comprehensive financing income was Ps.68 million versus a cost of Ps.25 million, due mainly to gains on foreign exchange hedging related to corn procurement. Also, the company reported foreign exchange gains on dollar-denominated trade accounts payable versus losses in 4Q14. Income taxes were a positive Ps.212 million versus a charge of Ps.13 million in 4Q14. The implementation of several initiatives allowed GIMSA to use tax-loss-carry-forwards, resulting in one-time benefits.

STOCK EXCHANGE CODE: QUARTER: 4 YEAR: 215 GRUPO INDUSTRIAL, S.A.B. DISCUSSION AND ANALYSIS OF THE DE C.V. ADMINISTRATION ON THE RESULTS OF PAGE 2 / 3 OPERATIONS AND FINANCIAL CONDITION OF THE COMPANY Majority net income was Ps.831 million, an increase of Ps.49 million driven by the positive tax effect, and, to a lesser extent, net comprehensive financing income and better operational performance. As a percentage of net sales, majority net income improved to 19.9% from 8.8%. FINANCIAL POSITION December 215 versus September 215 Balance Sheet Highlights Total assets decreased 1% to Ps.12,32 million due primarily to consumption of corn inventories. Total liabilities decreased 26% to Ps.2,579 million largely due to lower trade accounts payable. Shareholders equity increased 9% to Ps.9,723 million. ACCOUNTING PROCEDURES The consolidated figures have been prepared in accordance with the International Financial Reporting Standards (IFRS). International Accounting Standard 29 (IAS 29) defines the criteria to consider when a company operates under a hyperinflationary economic environment, which are: * The general population prefers to keep its wealth in non-monetary assets or in a relatively stable foreign currency. Amounts of local currency held are immediately invested to maintain purchasing power; * The general population regards monetary amounts not in terms of the local currency but in terms of a relatively stable foreign currency. Prices may be quoted in that currency; * Sales and purchases on credit take place at prices that compensate for the expected loss of purchasing power during the credit period, even if the period is short; * Interest rates, wages, and prices are linked to a price index; and * The cumulative inflation rate over three years is approaching, or exceeds, 1%. Based on the foregoing, as GIMSA operates in a non-hyperinflationary environment, the effects of inflation are not recognized in its figures. ABOUT GIMSA Founded in 1949, Grupo Industrial Maseca, S.A.B. de C.V. ( GIMSA ), is the world s largest producer of corn flour. GIMSA is engaged principally in the production of corn flour in Mexico under the brand name. GIMSA s corn flour is used mainly in the preparation of tortillas and other related products. GIMSA is headquartered in San Pedro Garza Garcia, Mexico, and has approximately 4,7 employees and 18 plants. In 215, GIMSA had net sales of US$922 million. This report may contain certain forward-looking statements and information relating to Grupo Industrial Maseca, S.A.B. de C.V., that are based on the beliefs of its management as well as assumptions made by and information then available to GIMSA. Such statements reflect the views of GIMSA with respect to future events and are subject to certain risks, uncertainties, and assumptions. Many factors could cause the actual results, performance, or achievements of GIMSA to be materially different from historical results or any future results, performance, or achievements that may be expressed or implied by such forward-looking statements. Such factors include, among others, changes in economic, political, social, governmental, business, or other

STOCK EXCHANGE CODE: QUARTER: 4 YEAR: 215 GRUPO INDUSTRIAL, S.A.B. DISCUSSION AND ANALYSIS OF THE DE C.V. ADMINISTRATION ON THE RESULTS OF PAGE 3 / 3 OPERATIONS AND FINANCIAL CONDITION OF THE COMPANY factors globally or in Mexico, as well as world and domestic corn prices. If one or more of these risks or uncertainties materializes, or underlying assumptions are proven incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, or targeted. GIMSA does not intend, and undertakes no obligation, to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

STOCK EXCHANGE CODE: QUARTER: 4 YEAR: 215 GRUPO INDUSTRIAL, FINANCIAL STATEMENT NOTES S.A.B. DE C.V. PAGE 1 / 1

STOCK EXCHANGE CODE: QUARTER: 4 YEAR: 215 GRUPO INDUSTRIAL, S.A.B. DE C.V. INVESTMENTS IN ASSOCIATES AND JOINT VENTURES (THOUSAND PESOS) COMPANY NAME PRICIPAL ACTIVITY NUMBER OF SHARES % OWNER SHIP TOTAL AMOUNT ACQUISITION COST CURRENT VALUE TOTAL INVESTMENT IN ASSOCIATES NOTES

STOCK EXCHANGE CODE: GRUPO INDUSTRIAL, S.A.B. DE C.V. BREAKDOWN OF CREDITS (THOUSAND PESOS) QUARTER: 4 YEAR: 215 MATURITY OR AMORTIZATION OF CREDITS IN NATIONAL CURRENCY MATURITY OR AMORTIZATION OF CREDITS IN FOREIGN CURRENCY CREDIT TYPE / INSTITUTION FOREIGN INSTITUTION (YES/NO) DATE OF AGREEMENT EXPIRATION DATE TIME INTERVAL TIME INTERVAL CURRENT YEAR UNTIL 1YEAR UNTIL 2 YEAR UNTIL 3 YEAR UNTIL 4 YEAR UNTIL 5 YEAR OR MORE CURRENT YEAR UNTIL 1YEAR UNTIL 2 YEAR UNTIL 3 YEAR UNTIL 4 YEAR UNTIL 5 YEAR OR MORE OTHER CURRENT AND NON- CURRENT LIABILITIES WITH COST TOTAL OTHER CURRENT AND NON- CURRENT LIABILITIES WITH COST SUPPLIERS PROVEEDORES NOT 31/12/215 31/12/216 N/A 81,633 PROVEEDORES YES 31/12/215 31/12/216 N/A 617,614 TOTAL SUPPLIERS 81,633 617,614 OTHER CURRENT AND NON- CURRENT LIABILITIES BENEFICIO A LOS EMPLEADOS NOT N/A 216,98 OTROS NOT N/A 618,376 OTROS YES N/A 5,6 TOTAL OTHER CURRENT AND NON- CURRENT LIABILITIES 618,376 216,98 5,6 GENERAL TOTAL 1,42,9 216,98 667,674 NOTES

STOCK EXCHANGE CODE: GRUPO INDUSTRIAL, S.A.B. DE C.V. MONETARY FOREIGN CURRENCY POSITION (THOUSAND PESOS) QUARTER: 4 YEAR: 215 FOREIGN CURRENCY POSITION (THOUSANDS OF PESOS) THOUSANDS OF DOLLARS DOLLARS THOUSAND PESOS OTHER CURRENCIES THOUSANDS OF DOLLARS THOUSAND PESOS THOUSAND PESOS TOTAL MONETARY ASSETS 5,547 95,437 95,437 CURRENT 5,547 95,437 95,437 NON CURRENT LIABILITIES POSITION 38,84 667,674 667,674 CURRENT 38,84 667,674 667,674 NON CURRENT NET BALANCE -33,257-572,237-572,237 NOTES

STOCK EXCHANGE CODE: QUARTER: 4 YEAR: 215 GRUPO INDUSTRIAL, S.A.B. DE C.V. DEBT INSTRUMENTS PAGE 1 / 2 FINANCIAL LIMITATIONS IN CONTRACT, ISSUED DEED AND / OR TITLE

STOCK EXCHANGE CODE: QUARTER: 4 YEAR: 215 GRUPO INDUSTRIAL, S.A.B. DE C.V. DEBT INSTRUMENTS PAGE 2 / 2 ACTUAL SITUATION OF FINANCIAL LIMITED

STOCK EXCHANGE CODE: GRUPO INDUSTRIAL, S.A.B. DE C.V. DISTRIBUTION OF REVENUE BY PRODUCT TOTAL INCOME (THOUSAND PESOS) QUARTER: 4 YEAR: 215 MAIN PRODUCTS OR PRODUCT LINE VOLUME NET SALES AMOUNT MARKET SHARE (%) TRADEMARKS MAIN CUSTOMERS NATIONAL INCOME HARINA DE MAÍZ 1,743,972 15,13,627. Y AGROINSA VARIOS OTROS 32,631 156,89. AGROINSA Y OTROS VARIOS EXPORT INCOME HARINA DE MAÍZ 7,474 584,632. VARIOS INCOME OF SUBSIDIARIES ABROAD TOTAL 1,847,77 15,871,348 NOTES

STOCK EXCHANGE CODE: GRUPO INDUSTRIAL, S.A.B. DE C.V. ANALYSIS OF PAID CAPITAL STOCK CHARACTERISTICS OF THE SHARES QUARTER: 4 YEAR: 215 SERIES NOMINAL VALUE VALID COUPON FIXED PORTION NUMBER OF SHARES CAPITAL STOCK FREE SUBSCRIPTION VARIABLE PORTION MEXICAN FIXED VARIABLE A 54,15,3 54,15,3 1,83 B 414,254,7 414,254,7 82,851 TOTAL 918,45, 54,15,3 414,254,7 183,681 TOTAL NUMBER OF SHARES REPRESENTING THE PAID IN CAPITAL STOCK ON THE DATE OF SENDING THE INFORMATION 918,45, NOTES

STOCK EXCHANGE CODE: QUARTER: 4 YEAR: 215 GRUPO INDUSTRIAL, S.A.B. DERIVATIVE FINANCIAL INSTRUMENTS DE C.V. PAGE 1 / 1

STOCK EXCHANGE CODE: QUARTER 4 YEAR: 215 GRUPO INDUSTRIAL, S.A.B. DE C.V. NOTES TO FINANCIAL STATEMENTS ACUM927: LA DEPRECIACIÓN Y AMORTIZACION OPERATIVA ACUMULADA AL 31 DE DICIEMBRE DE 214 ASCIENDE A $698,493, SE PRESENTA VARIACIÓN EN FLUJO DE EFECTIVO $672,963 POR CONCEPTO DE INGRESOS NO RELACIONADOS CON LA OPERACIÓN POR ($21,757 Y -$47,287 = $25,53) IN THIS ANNEX INCLUDE THE NOTES FOR THE FINANCIAL STATEMENTS ACCOUNTS AND STATEMENTS ACCOUNTS BREAKDOWNS AND OTHER CONCEPTS