Wednesday, February 1, 2023

Become part of our community

Nutresa Posts Strong Income Results in All Geographic Areas Nutresa Posts Strong Income Results in All Geographic Areas Source: Grupo Nutresa

Nutresa 1Q 2022 Net Income Jumps 28.7% Year-on-Year

Published in Companies Written by  April 30 2022 font size decrease font size increase font size 0
Rate this item
(1 Vote)

Medellin-based multinational foods giant Grupo Nutresa announced April 29 that its first quarter (1Q) 2022 net income rose 28.7% year-on-year, to COP$295 billion (US$74.6 million).

Sales likewise jumped 27% year-on-year, to COP$3.6 trillion (US$910 million), while earnings before interest, taxes, depreciation and amortization (EBITDA) rose 17.8%, to COP$468 billion (US$118 million), with EBITDA margin at 13%.

For this latest quarter, “double-digit growth was reported in all the Group’s businesses and geographies,” according to Nutresa.

“In Colombia, sales amounted to COP$2.2 trillion [US$556 million], 26.5% higher than in [1Q 2021] the previous year, and represent 61.4% of the group’s total income.

“On the other hand, international sales amounted to COP$1.4 trillion [US$354 million], with a growth of 27.7%, and represent 38.6% of the total. In dollars, these international revenues are US$355.4 million, 16.1% higher than the first quarter of 2021.”

Financial income jumped 80% year-on-year, to COP$6.06 billion (US$1.5 million), while financial expenses likewise rose 25%, “mainly due to the higher cost of debt,” according to Nutresa.

“During 2021, we made progress in the digitalization of operations and the development of the value chain, which allows us to improve the relationship with suppliers, customers, buyers and consumers.

“We also created native digital brands, improved brand relationships with consumers, consolidated digital customer service in Colombia and the United States, and strengthened non-face-to-face sales through our own digital platforms and with allies,” the company added.

Read 413 times Last modified on Last modified on April 30 2022

Leave a comment

Make sure you enter all the required information, indicated by an asterisk (*). HTML code is not allowed.

About Medellin Herald

Medellin Herald is a locally produced, English-language news and advisory service uniquely focused upon a more-mature audience of visitors, investors, conference and trade-show attendees, property buyers, expats, retirees, volunteers and nature lovers.

U.S. native Roberto Peckham, who founded Medellin Herald in 2015, has been residing in metro Medellin since 2005 and has traveled regularly and extensively throughout Colombia since 1981.

Medellin Herald welcomes your editorial contributions, comments and story-idea suggestions. Send us a message using the "contact" section.

Contact US

logo def
Medellin Herald: Find news, information, reviews and opinion on business, events, conferences, congresses, education, real estate, investing, retiring and more.
  • COL (4) 386 06 27
  • USA (1) 305 517 76 35
  •  This email address is being protected from spambots. You need JavaScript enabled to view it. 
  • Medellin, Antioquia, Colombia

Medellín Photo Galery

Medellin, contrasting colors and styles by Gabriel Buitrago