Grupo Nutresa Presented Very Positive Sales Dynamics in 2016

24 February, 2017
  • Total sales grew 9,2%, compared to the year before, and amounted to COP 8,7 trillion.
  • Sales in Colombia amounted to COP 5,4 trillion, 9,1% higher than those of 2015.
  • The EBITDA increased by 5,5%, reaching COP 1,03 trillion, for a margin on cumulative sales of 11,9%.

Medellín, February 24, 2017. Grupo Nutresa S.A. (BVC : NUTRESA) announces its consolidated financial results as of December 31, 2016.

The Organization presented very positive sales dynamics in 2016 in Colombia and abroad. At the consolidated level, the year closed with COP 8,7 trillion in sales, a 9,2% increase over those registered in 2015, and a 8,3% increase excluding the sales of recently acquired companies, for comparison purposes.

In Colombia, sales were COP 5,4 trillion, with a growth of 9,1%. Excluding January and February 2016 Grupo El Corral sales, which are not comparable with those of 2015, growth was of 7,7%; this was made possible by the construction of a differentiated value offer for clients, buyers and consumers, and by the development of distribution networks that allowed us to take our products to more than 405.500 points of sale in Colombia with well-known and beloved brands.

Sales abroad, measured in Colombian Pesos, were 9,4% higher than those registered in December 2015 and amounted to COP 3,3 trillion, representing 38,2% of the total. In Dollars, this equaled USD 1,1 billion, 1,0% lower than those of last year.

Gross profit, COP 3,7 billion, grew 7,9% over that achieved in 2015 and reflects the combined effect of responsible price management and the increased costs of some raw materials.

The variation in administrative and production expenses, in alignment with the increase of the gross profit, partially counter-balanced the impact of the greater effort required during the year regarding sales expenses, which led to an operating margin of 9,4%.

Net post-operating expenses, for COP 270.103 million, include the increase in the cost of the debt for higher reference-interest rates during 2016.

In terms of profitability, an EBITDA margin on sales of 11,9% is reported during the year, amounting to COP 1,03 trillion, and growing 5,5% over that of 2015. This level is largely explained by the high inflation rates registered during the year, the effect of the devaluation of the currencies, and the El Niño phenomenon in Colombia, which were partially mitigated by responsible price management with a long-term vision of volume protection.

As a result, the consolidated net profit was COP 395.735 million, representing a 4,6% margin on sales.

Assets grew 4,0% and closed at COP 13,7 trillion. This growth is largely due to the higher value of our investments in Grupo Sura and Grupo Argos.

Liabilities increased 1,8%, closing at COP 5.3 trillion, primarily due to the increase of working-capital liabilities, while maintaining the debt at an adequate level according to our moderate financial-risk profile.

Equity closed at COP 8.4 trillion, an increase of 5,4% over the close of 2015.

Our goal is Grupo Nutresa’s sustainability and to achieve the objective of creating value in the present, thus maintaining our ability to deliver satisfactory results in the future, always bearing in mind the construction of a better world.

Productivity efforts, the development of distribution networks and innovation were decisive to obtain these results and give us a good base to face 2017 optimistically.

Proposed Distribution of Profits

The Grupo Nutresa S. A. Board of Directors approved the proposal for the distribution profits, which will be submitted for consideration to the Assembly of Shareholders. The project proposes a monthly dividend of COP 44,5 for the period from April 2017 to March 2018. This proposal represents an increase of 7,2% over the current dividend of COP 41,5.

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