Medellin, April 29, 2022. Grupo Nutresa S. A. (BVC: NUTRESA) discloses its consolidated earnings results as of March 31, 2022.
As of the end of the first quarter of 2022, Grupo Nutresa’s sales show positive growth dynamics both in Colombia and abroad, amounting to COP 3,6 trillion, which represents a 27,0% increase in relation to the corresponding term in 2021. During the period, a two-digit growth was recorded across all Business Units and geographies.
In Colombia, sales amount to COP 2,2 trillion, which is 26,5% higher than in 2021, and represent 61,4% of Grupo Nutresa’s total revenues.
For their part, international sales totaling COP 1,4 trillion grow by 27,7% and represent 38,6% of total sales. When stated in dollars, these revenues are equivalent to 355,4 million, that is 16,1% higher than the international sales of the first quarter in 2021.
Despite the volatile geopolitical environment with commodity prices inflation and significant global logistics challenges, the Organization achieved a 15,7% gross profit growth, reporting a total amount of COP 1,4 trillion.
Operating profit stood at COP 372.590 million, that is 28,1% higher than the operating profit recorded in the same period of 2021. The increase in this item is the result of the Organization’s discipline in managing its expenses, as well as its productivity programs.
For their part, the EBITDA amount to COP 468.126 million, which is 17,8% higher than past year’s, with a 13,0% margin on sales.
Regarding the post-operative items, Grupo Nutresa reports COP 6.064 million in financial revenues, 80% higher that the equivalent revenues recorded in the first quarter of 2021. In terms of financial expenses, the Company recorded a 25,2% increase mainly due to the higher cost of debt.
Consolidated net profit for the period was COP 295.460 million, representing a 28,7% growth with an 8,2% margin on sales.
Carlos Ignacio Gallego, CEO of Grupo Nutresa stated: “Thanks to the positive results that we presented during this period, we keep heading towards the achievement of the long-term objectives that we have set for ourselves as an Organization, and reaffirm our commitment to grow with returns higher than the cost of capital, thus generating sustainable value for all our stakeholders”.
Progress made in the digital transformation strategy
For Grupo Nutresa, digital transformation is a dynamic organizational capability that starts with the transformation of the human being and his & her ability to adopt new technologies and tools with the aim of creating value. Our model stimulates the experimentation and adoption of new technologies in organizational processes that contribute to agility, flexibility and productivity, as well as the exploration of new business models that drive the Company’s future growth.
In 2021, progress we made progress in the digitalization of our operations and the development of the supply chain, which allowed us to enhance the engagement with suppliers, clients, shoppers and consumers. The Organization also created digital brands, improved the brands’ engagement with their consumers, consolidated the service provided to digital clients in Colombia and the United States,
and strengthened remote sales through the Company’s own digital platforms and those operated with partners.
Grupo Nutresa will continue focusing its efforts on creating value in all three dimensions of sustainability -economic, social and environmental- based on the incorporation of digital services that enable the evolution of the Company’s organizational capabilities.
Separate Financial Statements
The Separate Financial Statements of Grupo Nutresa S. A. report COP 298.386 million in net operating revenues, from which COP 208.194 million correspond to the profit obtained through the equity method of the investments in food companies and COP 90.192 million correspond to dividends from the investment portfolio. Furthermore, the net profit totaled COP 295.476 million.