Nutresa 3Q 2017 Profits Rise 3.6% Year-on-Year
Medellin-based multinational foods manufacturer Grupo Nutresa announced October 27 that its third quarter (3Q) 2017 net consolidated profit rose 3.6% year-on-year, to COP$324 billion (US$107 million), while gross profit rose 3% year-on-year, to COP$2.8 trillion (US$930 million).
Sales in Colombia grew 3.1% year-on-year, to COP$4 trillion (US$1.3 billion), while consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) margin was 12.5%
Sales abroad — excluding sales in “socialist” Venezuela – rose 5.8% year-on-year, to COP$2.3 trillion (US$797.7 million), representing 37% of total sales.
Consolidated revenues (not including Venezuela) rose 2.6%, to COP$6.4 trillion (US$2.1 billion), “the result of sales growth in the local [Colombia] market and a solid and sustained growth in international revenues,” according to Nutresa.
Net post-operatng expenses totalled COP$187 billion (US$62 million), “14.8% less than the same term in 2016, due primarily to the treatment of the investment in Venezuela as a financial instrument starting October 1 of such year,” according to the company.
Meanwhile, Nutresa for the seventh straight year entered the Dow Jones Sustainability Index and “continues to be the only company in the food sector from an emerging market to be part of this global index,” the company noted.
“In the economic dimension, [the company] obtained the maximum score in terms of health and nutrition, materiality, risk and crisis management, and tax management. In the environmental category, Grupo Nutresa received the highest score in environmental reporting and packaging. Finally, in the social dimension, it achieved the highest valuation in human rights,” according to the company.
Grupo Nutresa describes itself as “the leader in processed foods in Colombia (60.5% market share) and one of the most relevant players in the sector in Latin America, with consolidated sales of US$2.8 billion in eight business units: cold cuts, biscuits, chocolates, Tresmontes Lucchetti [Italian foods], coffee, retail food, ice cream, and pasta.”
The company has a direct operating presence in 14 countries and international sales in 72 countries.
