Grupo Nutresa Full-Year 2024 Net Income Up 3.5% Year-on-Year

Medellin-based multinational foods giant Grupo Nutresa reported February 20 a 3.5% year-on-year hike for full-year 2024 net income, hitting COP$751 billion (US$184 million).

Revenues dipped 1.7% year-on-year, to COP$18.6 trillion (US$4.55 billion), according to the company.

Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 7.8% year-on-year, to COP$2.37 trillion (US$563 million), the company added.

“Sales in Colombia amounted to COP$11.2 trillion [US$2.7 billion], down 0.4% year-on year, while international sales in dollars were US$1.8 billion, up 2.2%,” the company added.

Colombia sales accounted for 60% of the Group’s total sales. Exports from Colombia rose 8.1% year-on-year, to US$420 million.

“As a result of the commodity hedging management carried out during the year, gross profit was COP$7.6 trillion [US$1.86 billion] — an expansion of 190 basis points and a growth of 3.1% compared to 2023.

“As for operating expenses — associated with efficiency and productivity strategies implemented during the year — administration and production expenses decreased 1.4% and 2.6% respectively, while sales expenses grew by 3.1%, lower than inflation in Colombia.

“As a result,operating profit was COP$1.8 trillion [US$441 million], with a 6.5% growth, and a margin on sales of 9.9%.

“In post-operating expenses, we reported a 9.3% decrease compared to 2023, mainly explained by an 8% reduction in financial expenses.

“Likewise, the value of [Nutresa’s publicly-traded shares] in the Colombian stock market increased by 72.5%, closing the year at COP$79,000 [US$19.34] per share,” the company added.