Nutresa Sales Grow 3,1% During the First Quarter 201827 April, 2018
- Grupo Nutresa’s consolidated sales deliver a positive performance, amounting to COP 2,1 trillion, 3,1% higher than in 2017 for the corresponding term.
- Sales in Colombia amount to COP 1,3 trillion, 2,4% higher than the corresponding revenues in 2017.
- Sales abroad, which amount to USD 265,2 million, reflect a 6,6% growth with regard to the corresponding term in the previous year.
- In terms of profitability, EBITDA totals COP 273.276 million, representing 13% of sales.
Medellín, April 27, 2018. Grupo Nutresa S.A. (BVC: NUTRESA) discloses its Consolidated Financial Results for the first quarter of 2018.
As of the closing of the first quarter of 2018, Grupo Nutresa’s sales show positive dynamics both in Colombia and abroad. The consolidated sales amount to COP 2,1 trillion, representing a 3,1% increase compared to the same period last year.
Sales in Colombia showed a positive performance -in alignment with better consumption dynamics- amounting to COP 1,3 trillion, which represents 64% of Grupo Nutresa’s total sales, a growth of 2,4% when comparted to the corresponding term in 2017.
Likewise, it is worth highlighting the 6,6% growth rate in the revenues from abroad, which amount to USD 265,2 million and represent 36% of total sales
The consolidated gross profit amounts to COP 935.630 million, 5,0% higher than in the corresponding term of 2017, resulting from a sound commodities sourcing strategy.
Operating profit, which amounts to COP 201.982 million, represents an operating margin of 9,6% and is favored by a reduction of administrative expenses and the adequate management of the production costs during the period.
In terms of profitability, we report an EBITDA of COP 273.276 million, 3,3% higher than the one reported in the same period last year and representing a margin of 13,0% of sales. This is the reflection of our efforts in productivity and cost efficiency, along with a continued investment in the market.
Net post-operative expenses, which amount to COP 41.377 million, represent 2,0% of sales and reflect a significant reduction in financial costs.
Lastly, consolidated net profit totaled COP 120.867 million, representing a 13,1% reduction. This is mainly explained by not accounting a portion of the dividends from our investment portfolio during the period, COP 26.176 million, which will be registered during the second quarter of this year. Eliminating this effect, Grupo Nutresa’s net profit would have grown 5,7%, higher than the sales increase.
Separate Financial Statements of Grupo Nutresa S.A.
The Separate Financial Statements of Grupo Nutresa S.A. report COP 124.809 million in operating revenues as of the closing of the first quarter of 2018, derived from the application of the equity method on subsidiaries and associated companies for COP 93.599 million, and from the recognition of dividends from the investment portfolio totaling COP 31.210 million. Net profit is COP 124.958 million and equity amounts to COP 8,3 trillion.
The annexes below, both for the Consolidated and Separate Financial Statements, are an integral part of this communication, namely: The Comprehensive Income Statement as of March 31, 2018; the Statement of Financial Position as of March 31, 2018; and Indicators.