Nutresa 3Q 2020 Net Income Rises Year-on-Year
Medellin-based multinational prepared-foods giant Grupo Nutresa announced October 30 that its third quarter (3Q) net income rose 7% year-on-year, to COP$142 billion (US$36.6 million).
Operating income also rose, to COP$2.8 trillion (US$722 million) in 3Q 2020 versus COP$2.5 trillion (US$645 million) in 3Q 2019.
For the first nine months of 2020 (through September), consolidated net profit rose 13.8% year-on-year, to COP$469 billion (US$121 million), while earnings before interest, taxes, depreciation and amortization (EBITDA) rose 12.5%, to COP$1.1 trillion (US$284 million).
So far this year, sales in Colombia are up 8.4% year-on-year, hitting COP$4.9 trillion (US$1.26 billion). International sales amount to COP$3.3 trillion (US$851 million), up 22% as measured in Colombian pesos and up 6.7% as measured in U.S. dollars.
“Excluding the acquisitions of Cameron’s Coffee in the United States and Atlantic Food Service in Colombia, organic sales growth reached 8.8%,” according to Nutresa. “Innovation continues to be an important driver of growth for the organization as innovation-driven sales represent 20.2% of total revenues.”
Corporate-wide gross profit rose 7.7%, to COP$3.4 trillion (US$877 million). “This growth, which is lower than the increase in revenues, is mainly due to higher commodities prices in some of the countries from our strategic regions,” according to Nutresa.
