Nutresa 3Q 2018 Net Profit Jumps 19% Year-on-Year
Medellin-based multinational foods giant Nutresa reported October 26 that its third quarter (3Q) 2018 net profit rose 19% year-on-year, to COP$386 billion (US$121 million).
“This growth is the result of a balanced equation that includes rising sales, efficiency in purchase of basic materials, productivity programs, lower growth in operating expenses and a continuing decline in financing costs,” according to Nutresa.
Consolidated sales of Grupo Nutresa grew by 3.4% year-on-year, hitting COP$6.6 trillion (US$2.07 billion) while earnings before interest, taxes, depreciation and amortization (EBITDA) rose 5.1% year-on-year, to COP$841 billion (US$264 million). EBITDA margin was steady at 12.7%.
Sales in Colombia rose 4.1%, to COP$4.2 trillion (USS$1.3 billion) thanks to a volume hike of 2.3% plus a price hike of 1.5%. Sales abroad also rose 4%, to US$829.8 million.
“Innovation continues to be an important driver of growth for the Group -- and sales resulting from this concept represent 22.1% of the total,” according to Nutresa.
Gross profit rose 5.2% year-on-year, to COP$3.0 trillion (US$943 million), “the result of the increase in sales accompanied by a strategy to improve productivity,” according to the company.
“Operating income amounted to COP$634 billion [US$199 million], equivalent to an operating margin of 9.6%, and representing an improvement of 4.7% compared to the same period of 2017. This result is a consequence of the efficiencies in sales, administration and production during the period.
Net post-operative expenses fell 46% year-on-year, to COP$100.7 billion (US$31.6 million), “mainly explained by the significant reduction in financial expenses, resulting from lower indebtedness, and better interest rates in the main markets where the Group operates,” according to Nutresa.
Latest from Roberto Peckham
- Medellin-Bolombolo Sinifaná Section of ‘Pacifico 1’ to Reopen Before December 31: ANI
- FISE Electricity Fair: 15,000 Visitors, US$200 Million Business Deals, 320 Exhibitors, New Focus on Wind & Solar Power, Electric Vehicles
- EPM Wins 1st US$150 Million Insurance Payment for Hidroituango Damages
- Coltejer Reveals US$65 Million Debt Restructuring
- China’s Zijin Mining Buys 100% of Continental Gold’s Antioquia Mining Operation
Leave a comment
Make sure you enter all the required information, indicated by an asterisk (*). HTML code is not allowed.