In 2020, Grupo Nutresa’s sales grew 11,7% and its EBITDA margin reached 13,0%

• Grupo Nutresa was acknowledged as the world’s most sustainable food company according to the Dow Jones Sustainability Indices and was included in the Gold Class of S&P Global’s Sustainability Yearbook.
• By the end of the year, total sales amounted to COP 11,1 trillion, 11,7% above the corresponding revenues in 2019.
• Sales in Colombia grew 7,9% when compared to the sales totaled in 2019, amounting to COP 6,7 trillion.
• International sales increased 18,1% and totaled COP 4,4 trillion. In dollars, these revenues amounted to 1.199,7 million, that is 5,0% higher than the previous year.
• Innovation sales represented 19,6% of Grupo Nutresa’s total revenues over the term.
• EBITDA amounted to COP 1,4 trillion, which is equivalent to 13,0% of the sales.

Medellin, February 26, 2021. In the context of a considerably challenging year, Grupo Nutresa gave priority to the care for people’s life, health and well-being, the protection of the environment, and the business continuity in all the countries of its strategic region.

Over the year, we faced multiple circumstances that put our resilience to the test, and which the Company was able to successfully overcome with the support of a deeply committed and dedicated team. Likewise, the Organization made its best to protect its human talent and their jobs, even closing 2020 with a higher number of employees in comparison to 2019.

In recognition of the effective implementation of Grupo Nutresa’s sustainability-related capabilities, the Organization was acknowledged as the most sustainable food company in the world according to the Dow Jones Sustainability World, Emerging Markets and MILA Indices. In addition, the Company was included in the Gold Class of the Sustainability Yearbook published by Standard & Poor’s –S&P Global–, which underscored Grupo Nutresa’s leadership in the fields of materiality, risk and crisis management, information security and cybersecurity, tax strategy, health and nutrition, packaging materials, environmental reporting, water-related risks, human capital development, talent attraction and retention, and social reporting. This is the tenth consecutive year the Company is included in this Index.

The financial results presented below are the result of a business model that fosters sustainability and people’s well-being, invests in the brands, and has a diversified value proposition based on products, experiences, channels and markets.

Consolidated financial results of Grupo Nutresa S.A. (BVC: NUTRESA) as of December 31, 2020

Grupo Nutresa’s sales dynamic was positive both locally and internationally. By the end of the year, the Organization’s operating income totaled COP 11,1 trillion, with a growth rate of 11,7% over the equivalent revenues for 2019.

Innovation sales represented 19,6% of the total sales, exceeding the goal for the fifth consecutive year, which was set at 15% for 2020.

In Colombia, the operating income totaled COP 6,7 trillion, with a growth rate of 7,9%, and represented 60,1% of Grupo Nutresa’s total revenue.

International sales, which amounted to COP 4,4 trillion, were 18,1% higher than the equivalent 2019 sales and represented 39,9% of the total revenue. In dollars, these revenues are equivalent to 1.199,7 million, growing 5,0% compared to the previous year.

Gross profit totaled COP 4,7 trillion, growing 6,1% over the term. This increase is lower that the growth in revenues for the period, mainly due to higher commodities prices in some countries of our strategic region over the year.

Operating profit reached COP 1,0 trillion, representing a 6,6% improvement compared to 2019. 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.

In terms of profitability, the EBITDA totaled COP 1,4 trillion, representing a 7,2% increase, with a 13,0% sales margin.

Net post-operative expenses amounted to COP 204.255 million, 9,0% lower than last year’s. This is explained by a 7,8% increase in the 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.

Consolidated net profit of the period was COP 575.441 million, representing a two-digit growth of 14,3% and a 5,2% consolidated sales margin.

Separate Financial Statements

The Separate Financial Statements of Grupo Nutresa S. A. report COP 585.968 million in operating revenues, from which COP 516.703 million correspond to the profit obtained through the equity method of the investments in food companies and COP 69.265 million correspond to dividends from the investment portfolio. Net profit totaled COP 583.241 million.

The consolidated and separate Financial Statements, as of December 31, 2020, as well as the related financial indicators, are an integral part of this release.

Profit Distribution Project

The Board of Directors of Grupo Nutresa S. A. approved the profit distribution project, which will be submitted for the consideration of the Shareholders Assembly on March 23, 2021. The project proposes a monthly dividend of COP 58,50 per share for the April 2021-March 2022 period, representing an increase of 8,13% regarding the current dividend of COP 54,10 per share.

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