Nutresa 1Q 2024 Profits Rise 16% Year-on-Year
Medellin-based international foods manufacturer-marketer Grupo Nutresa annnounced May 14 that its first quarter (1Q) 2025 net profit rose 16% year-on-year, to COP$241 billion (US$57 million), from COP$205 billion (US$49 million) in 1Q 2024.
Revenues also rose 13% year-on-year, to COP$4.9 trillion (US$1.17 billion), while earnings before interest, taxes, depreciation and amortization (EBITDA) rose 17.2%, to COP$729 billion (US$174 million), according to the company.
“Broad-based sales growth was reported across of all the group’s geographies,” according to Nutresa.
“In Colombia, revenues grew 9.7% reaching COP$2.9 trillion [US$693 million] — equivalent to 58.9% of global sales — with notable growth in chocolates, biscuits, coffee, and in the ‘others’ category.
“International sales reached COP$2 trillion [US$478 million], an 18.5% increase, and represented 41.1% of total sales.
“EBITDA is growing at a faster rate than sales, up 17.2%,” while EBITDA margin on sales hit 15%, the company added.
Elsewhere on the financial front, “Grupo Nutresa successfully issued its first bond in the international market with a dual tranche issuance of US$2 billion,” according to the company.
“The bond issue generated demand of US$5.1 trillion — 2.6 times the placement amount — and was classified as the largest debt bond issue by a Latin American company in such markets.
“Proceeds from the issue will be used to repay the bridge loan under the ‘club deal’ model granted on March 7 by Goldman Sachs Bank USA, Citigroup Global Markets Inc., N.A., JP Morgan Chase Bank, Deutsche Bank AG, and Banco BTG Pactual S.A.– Cayman Branch,” the company added.
