Nutresa Full-Year 2020 Net Income Rises 14% Year-on-Year
Medellin-based multinational foods giant Grupo Nutresa reported February 26 that its full-year 2020 net income rose 14.3% year-on-year, to COP$575 billion (US$158 million).
Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 7.2%, to COP$1.44 trillion (US$395 million), while revenue rose 11.7%, to COP$11.1 trillion (US$3.04 billion).
Sales in Colombia grew 7.9%, to COP$6.7 trillion (US$1.8 billion). International sales increased 18.1%, hitting COP$4.4 trillion (US$1.2 billion).
Gross profit totaled COP$4.7 trillion (US$1.29 billion), up 6.1%. The gross profit increase was lower than the growth in revenues “mainly due to higher commodities prices in some countries of our strategic region,” according to Nutresa.
Operating profit reached COP$1 trillion (US$274 million), up 6.6%. “This is the result of consistent work focused on administrative, sales and production expense efficiency and productivity during a period that demanded additional efforts to protecting the people and guaranteeing the continuity of the operation,” according to the company.
“Net post-operative expenses amounted to COP$204 billion [US$56 million] 9.0% lower than last year. This is explained by a 7.8% increase in financial revenue as a result of Grupo Nutresa’s good cash position over the year and a 6.4% reduction in the financial expenses from lower financing rates,” the company added.
Grupo Nutresa has food production and distribution operations in Colombia, Chile, Costa Rica, Guatemala, México, Panamá, the U.S, Venezuela, Ecuador, El Salvador, Nicaragua, Perú, Dominican Republic and Malaysia.
Its main product-and-service lines (some of them franchised) including coffees, chocolates, ice creams, pastas, biscuits/crackers, meats and fast-food restaurants. Major brands include Noel, Starbucks, Papa John’s, El Corral, Zenu, Chocolates Corona, Jet, MontBlanc, Sello Rojo, Colcafe, Matiz, Lucchetti, Crem Helado, Doria and Monticello.
