Nutresa First-Half 2017 Net Profit Rises 1.9% Year-on-Year

Medellin-based multinational packaged-foods giant Grupo Nutresa announced July 28 that its first-half 2017 net profit rose 1.9% year-on-year, to COP$236 billion (US$78.7 million).

Earnings before interest, taxes, depreciation and amortization (EBITDA) dipped by 1.3% year-on-year, to COP$527 billion (US$176 million), according to the company.

Sales inside Colombia grew 3.9% during the latest period, to COP$2.7 trillion (US$901 million), while sales abroad (excluding Venezuela) grew 5.5% year-on-year, to US$516 million.

The company also touted recent successful launches of “Tosh” branded baked-snacks and cold-infusion drink lines, as well as the new “Bénet” brand of nutritional powdered beverages.

“Gross profit, of COP$1.8 trillion [US$600 million], increased by 1.1% over the same period last year as a result of various efforts in productivity, the constant search for greater efficiencies, and the favorable prices of some raw materials,” according to Nutresa.

“The group’s operating profit amounts to COP$397.383 million [US$132 million], with an operating margin of 9.6%, which takes into account an increase in sales expenses associated with greater investments in our distribution channels,” according to the company.

Nutresa describes itself as the “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 COP$8.7 trillion [US$2.9 billion] in eight business units: cold cuts, biscuits, chocolates, Tresmontes Lucchetti [packaged foods], coffee, retail food, ice cream and pasta.”

The company boasts of a direct operating presence in 14 countries, with international sales in more than 80 countries.