Towards the end of the third quarter of the year, Grupo Nutresa announced that as of October 20 the company’s shares will begin to be listed on the Santiago Stock Exchange, as a result of the agreement of both stock exchanges. This agreement seeks to stimulate dual listing of the main issuers from both markets, making it easier for companies to negotiate on different stock exchanges. The news not only represents a greater diffusion for the firm, but also a new source of financing.
In addition, the company continued with its stock buyback program which was approved by the directors’ board last April. The program started on 10 May and as of October 8, 2021, 2,182,498 shares have been already repurchased.
Together with this announcement, the firm was recognized for seven consecutive years by MERCO Empresas y Líderes Empresariales 2021 as the second firm with the best reputation in Colombia and the first in the food sector.
The company’s accomplishments were coupled with sound results in the third quarter of the year. The next results belong to the January-September period.
In this quarter, the firm reported an improvement in its accumulated 9M consolidated sales, passing from 8.1 trillion Colombian Pesos (COP) to 9.1 trillion. This advance represents a growth of 11.7% compared to the period January-September 2020. A great portion of this increase is explained by the improvement in Colombian and international sales; the former rose by 14.5%, amounting to COP 5.5 trillion, and the latter grew by 7.7%, reaching COP 3.6 trillion or USD 964.5 bn.
In addition, innovation sales represented 16.6% of total revenues.
According to Grupo Nutresa, its operational income totaled COP 867 million, experiencing an increase of 8.4% in comparison to the same period last year. This improvement is product of a productivity-centered management approach and a larger investment in its brands across all the regions in which the firm operates.
Net post-operative expenses amounted to COP 82.201 million, 39.1% lower than last year’s expenses due to a significant reduction in financial expenses.
Another concept that presented sound results was the firm’s consolidated EBITDA. In the accumulated 9M, EBITDA rose by 5.4% compared to the same period last year, amounting to 1.2 trillion. EBITDA margin ended up at 12.9%.
Regarding net income, the firm obtained a significant improvement, going from COP 473.5 million to 534.9 million. This advance is translated into an increase of 14% vis-á-vis the 9M period of the previous year.
As of September 30, firm’s total assets closed at COP 15.8 trillion, growing by 1.9% against December 2020. In the same way, total liabilities increased by 6.5%, going from COP 7.2 trillion to 7.7.
Concerning its financial ratios, the firm presented the following results:
The net debt/EBITDA ratio closed at 1.91x, presenting an improvement in comparison to December 2020 which ended up at 1.86x. On the other hand, its solvency ratio (Assets/Liabilities) was 2.04, decreasing by 0.04 percentage points. In addition, the liquidity ratio (current assets/ current liabilities) went from 1.58 to 1.76, presenting an advance of 0.18 percentage points.
The solid results presented are expected to continue and even increase after the creation of Nutrading, a company whose objective will be the purchase, sale, and export of products for distribution and commercialization abroad. Nutrading aims to develop a platform for Colombian firms that want to enter the path of internationalization.
