Sales in Colombia grew 3,9% during the first half of the year28 July, 2017
- Sales in Colombia continue with a good performance and reach of COP 2,7 trillion, 3,9% higher than the same period of 2016.
- Sales abroad amounted to USD 516,6 million with a growth of 5,5% in dollars, after excluding, for comparison purposes, the first semester sales of 2016 in Venezuela.
- In terms of profitability, an accumulated EBITDA of COP 527.210 million is reported, representing 12,7% of sales.
Grupo Nutresa S.A. (BVC: NUTRESA) discloses its Consolidated Financial Results as of June 30, 2017.
Grupo Nutresa continues to have a good trade dynamic in Colombia, with sales for the first half of the year amounting to COP 2,7 trillion, representing 64% of consolidated sales, and growth of 3,9% compared to the same period last year.
Sales abroad, excluding the sales reported in Venezuela during the same period of 2016 due to its treatment as a financial instrument starting October 1st of such year, are USD 516,6 million, representing 36% of total revenues and reflecting a 5,5% growth. When expressed in Colombian Pesos these sales represent COP 1,5 trillion pesos.
Consolidated revenues amount to COP 4,2 trillion, with a growth of 1,9% (considering the aforementioned exclusion of Venezuela). This growth is supported by an improvement in product mix, innovation, and a powerful commercial network, that continuously seeks to meet the needs of customers, consumers, and buyers.
With regards to efforts in innovation, we highlight the recent market releases of baked snacks and cold infusions under the Tosh brand, and Bénet, a nutritional powder-beverage under this new nutritional-expert brand.
Gross profit, of COP 1,8 trillion, increased by 1,1% over the same period last year as a result of various efforts in productivity, the constant search for greater efficiencies, and the favorable prices of some raw materials.
The Group’s operating profit amounts to COP 397.383 million, with an operating margin of 9,6%, which takes into account an increase in sales expenses associated with greater investments in our distribution channels.
In terms of profitability, an EBITDA of COP 527.210 million was reported, representing 12,7% of sales.
Net post-operative expenses of COP 107.088 million reflect a decrease of 16,3% compared to the same period of 2016, primarily due to the treatment of the aforementioned investment in Venezuela.
Consolidated net profit totals COP 235.679 million, 5,7% of sales, and representing a 2,0% increase compared to the first half of 2016.
Finally, for the second consecutive year, Grupo Nutresa was selected by the Corporate Reputation Business Monitor (in Spanish known as Monitor Empresarial de Reputación Corporativa -MERCO), as the second-best company in Colombia in attracting and retaining talent and the first within the food sector. With this recognition, we reaffirm that human talent is one of the most valuable assets within Grupo Nutresa’s business model and one of the key pillars of the company´s corporate strategy.
Separate Financial Statements of Grupo Nutresa S.A.
In the Separate Financial Statements of Grupo Nutresa S.A., operating revenues for the first half of 2017 amount to COP 237.814 million, derived from the application of the equity method on subsidiaries and associated for COP 183.610 million and from the recognition of dividends from the investment portfolio for COP 54.204 million. The Company’s net profit is COP 236.453 million and its equity amounts to COP 8,7 trillion.