results 3q17 - Grupo Nutresa
RESULTS 3Q17
Third Quarter sales for Grupo Nutresa grow 3,1% in Colombia, and its consolidated EBITDA margin stands at 12,5% • • •
Sales in Colombia continue to deliver a positive performance, amounting to COP 4,0 trillion, 3,1% higher than revenues for the corresponding term in 2016. Sales abroad increased 5,8% in US dollars, totaling USD 797,7 million after excluding, for comparison purposes, the sales over the first nine months of 2016 in Venezuela. Accumulated EBITDA amounts to COP 800.218 million, representing 12,5% of total sales.
Medellin, October 27, 2017. Grupo Nutresa S.A. (BVC: NUTRESA) discloses its Consolidated Financial Results as of September 30, 2017. Third Quarter sales for Grupo Nutresa in Colombia continue to report a positive trend amounting to COP 4,0 trillion, representing 63% of consolidated sales, and growing 3,1% compared to the same period of last year. Sales abroad, excluding the sales reported in Venezuela for the same period, are USD 797,7 million, representing 37% of total sales, and reporting a 5,8% growth. When expressed in Colombian pesos, these sales are equivalent to COP 2,3 trillion pesos. Consolidated revenues, after the aforementioned exclusion, amount to COP 6,4 trillion, 2,6% higher compared to same period in 2016. This progress is the result of sales growth in the local market and a solid and sustained growth in international revenues. Innovation sales represent 20,6% of total revenues for the period. In alignment with the constant efforts to achieve greater efficiency and productivity, gross profit continues to improve, and amounts to COP 2,8 trillion, 3,0% higher than the same period last year. Operating profit amounts to COP 605.502 million, with an operating margin of 9,5% as a result of an increase in sales expenses associated with greater investment in our distribution channels and savings in our production expenses. With regard to the profitability, consolidated EBITDA totals COP 800.218 million, representing 12,5% of revenues.
The Issuer Acknowledgment awarded by Bolsa de Valores de Colombia S.A. (the Colombian Stock Exchange) is not a certification of the favorability of the registered securities nor of the issuer’s solvency.
1
RESULTS 3Q17 Net post-operative expenses total COP 187.263 million, 14,8% less than the same term in 2016, due primarily to the treatment of the investment in Venezuela as a financial instrument starting October 1st of such year. Finally, consolidated net profit amounts to COP 324.258 million, a 3,6% increase, and represents 5,1% of the sales. Dow Jones Sustainability Index (DJSI) and DJSI MILA Pacific Alliance For the seventh consecutive year, Grupo Nutresa entered the Dow Jones Sustainability Index and continues to be the only company in the food sector from an emerging market to be part of this global index. The Organization once again stood out in all the dimensions of sustainability. In the economic dimension, it obtained the maximum score in terms of health and nutrition, materiality, risk and crisis management, and tax management. In the environmental category, Grupo Nutresa received the highest score in environmental reporting and packaging. Finally, in the social dimension, it achieved the highest valuation in Human Rights. Grupo Nutresa was also included in a new sustainability index in the region, the Dow Jones Sustainability MILA Pacific Alliance Index. This Index focuses on assessing and measuring the performance of the companies in the MILA (Latin American Integrated Market) in terms of corporate sustainability. Separate financial statements of Grupo Nutresa S.A. The Separate Financial Statements of Grupo Nutresa S.A. report COP 331.961 million in operating revenues as of the closing of the Third Quarter of 2017, derived from the application of the equity method on subsidiaries and associated companies for COP 277.757 million, and from the recognition of dividends from the investment portfolio totaling COP 54.204 million. The net profit is COP 330.316 million and the equity amounts to COP 8,9 trillion. The Consolidated and Separate Financial Statements, as of September 30, 2017, as well as the related financial indicators, are an integral part of this release.
The Issuer Acknowledgment awarded by Bolsa de Valores de Colombia S.A. (the Colombian Stock Exchange) is not a certification of the favorability of the registered securities nor of the issuer’s solvency.
2
RESULTS 3Q17 CONSOLIDATED FINANCIAL STATEMENTS INCOME STATEMENT AS OF SEPTEMBER 30, 2017
JanuaryJanuarySeptem ber % Revenues Septem ber % Revenues 2017 2016 Continuing operations Operating revenue Cost of goods sold Gross profit Administrative expenses Sales expenses Production expenses Exchange differences on operating assets and liabilities Other operating expenses, net Operating profit Financial income Financial expenses Portfolio dividends Exchange differences on non-operating assets and liabilities Loss on net monetary position Share of profit of associates and joint ventures Other income (expenses), net Incom e before tax and non-controlling interest Current income tax Deferred income tax Profit after taxes from continuous operations Discontinued operations, after income tax Net profit for the period Non-controlling interest Profit for the period attributable to controlling interest EBITDA
6.391.409 (3.569.154) 2.822.255 (293.049) (1.845.163) (101.420) 1.330 21.549 605.502 10.280 (239.784) 54.321 (15.534) 141 3.313
-55,8% 44,2% -4,6% -28,9% -1,6% 0,0% 0,3% 9,5% 0,2% -3,8% 0,8% -0,2% 0,0% 0,0% 0,1%
6.419.295 (3.679.153) 2.740.142 (293.889) (1.725.263) (107.009) 16.938 17.441 648.360 7.708 (238.650) 50.494 (8.668) (32.946) 2.154
418.239
6,5%
428.452
(119.877) 29.939 328.301 (1.175) 327.126 2.868 324.258
-1,9% 0,5% 5,1% 0,0% 5,1% 0,0% 5,1%
800.218
12,5%
% Var.
-57,3% 42,7% -4,6% -26,9% -1,7% 0,3% 0,3% 10,1% 0,1% -3,7% 0,8% -0,1% -0,5% 0,0% -
-0,4% -3,0% 3,0% -0,3% 6,9% -5,2% -92,1% 23,6% -6,6% 33,4% 0,5% 7,6% 79,2% -100,0% -93,5% -
6,7%
-2,4%
(135.723) 23.579 316.308 (192) 316.116 3.039 313.077
-2,1% 0,4% 4,9% 0,0% 4,9% 0,0% 4,9%
-11,7% 27,0% 3,8% N/A 3,5% -5,6% 3,6%
800.328
12,5%
0,0%
For further details, please review the Notes to the Financial Statements at: https://www.gruponutresa.com/en/inversionistas/resultados-y-publicaciones/resultados-trimestrales/#2017-3
The Issuer Acknowledgment awarded by Bolsa de Valores de Colombia S.A. (the Colombian Stock Exchange) is not a certification of the favorability of the registered securities nor of the issuer’s solvency.
3
RESULTS 3Q17 CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS OF SEPTIEMBER 30, 2017
ASSETS Current assets Cash and cash equivalents Trade and other receivables Inventories Biological assets Other current assets Non-current assets held for sale Total current assets Non-current assets Trade and other receivables Biological assets Investments in associated and joint ventures Other financial non-current assets Property, plant and equipment, net Investment properties Goodw ill Other intangible assets Deferred tax assets Other non-current assets Total non-current assets TOTAL ASSETS LIABILITIES Current liabilities Financial obligations Trade and other payables Tax charges Employee benefits liabilities Current provisions Other current liabilities Total current liabilities Non-current liabilities Financial obligations Trade and other payables Employee benefits liabilities Deferred tax liabilities Other non-current liabilities Total non-current liabilities TOTAL LIABILITIES SHAREHOLDER EQUITY Equity attributable to the controlling interest Non-controlling interest TOTAL SHAREHOLDER EQUITY TOTAL LIABILITIES AND EQUITY
Septem ber 2017
Decem ber 2016
% Var.
244.514 997.236 1.041.736 85.823 295.692 40.926 2.705.927
219.322 889.197 1.028.417 75.677 246.832 100.330 2.559.775
11,5% 12,2% 1,3% 13,4% 19,8% -59,2% 5,7%
24.864 8.823 171.711 4.186.276 3.340.223 72.352 2.061.972 1.158.978 380.851 97.870 11.503.920 14.209.847
23.495 7.433 164.510 3.885.206 3.383.513 71.842 2.034.454 1.163.671 356.994 48.661 11.139.779 13.699.554
5,8% 18,7% 4,4% 7,7% -1,3% 0,7% 1,4% -0,4% 6,7% 101,1% 3,3% 3,7%
782.255 866.238 227.088 200.062 1.139 52.321 2.129.103
847.689 888.840 163.362 161.592 2.734 49.746 2.113.963
-7,7% -2,5% 39,0% 23,8% -58,3% 5,2% 0,7%
2.353.842 158 234.802 690.887 613 3.280.302 5.409.405
2.277.429 158 216.744 705.700 600 3.200.631 5.314.594
3,4% 0,0% 8,3% -2,1% 2,2% 2,5% 1,8%
8.760.740 39.702 8.800.442 14.209.847
8.346.719 38.241 8.384.960 13.699.554
5,0% 3,8% 5,0% 3,7%
For further details, please review the Notes to the Financial Statements at: https://www.gruponutresa.com/en/inversionistas/resultados-y-publicaciones/resultados-trimestrales/#2017-3
The Issuer Acknowledgment awarded by Bolsa de Valores de Colombia S.A. (the Colombian Stock Exchange) is not a certification of the favorability of the registered securities nor of the issuer’s solvency.
4
RESULTS 3Q17 SEPARATE FINANCIAL STATEMENTS INCOME STATEMENT AS OF SEPTEMBER 30, 2017
Dividend portfolio Share of profit for the period of subsidiaries Share of profit for the period of associates and joint ventures Gross profit Administrative expenses Exchange differences on operating assets and liabilities Other operating expenses, net Operating profit Financial income Financial expenses Exchange differences on non-operating assets and liabilities Incom e before tax Current income tax Deferred income tax Net profit for the period Earnings per share
JanuarySeptem ber 2017 54.204 278.103 (346) 331.961 (3.161) (1) 1.803 330.602 4 (1.105) (1) 329.500 (84) 900 330.316 717,89
16,3%
JanuarySeptem ber 2016 50.453
83,8% -0,1% 100,0% -1,0% 0,0% 0,5% 99,6% 0,0% -0,3% 0,0% 99,3% 0,0% 0,3% 99,5%
263.155 2.005 315.613 (2.914) (24) 770 313.445 2 (784) (7) 312.656 (82) 234 312.808
% Revenues
679,83
% Revenues
% Var.
16,0%
7,4%
83,4% 0,6% 100,0% -0,9% 0,0% 0,2% 99,3% 0,0% -0,2% 0,0% 99,1% 0,0% 0,1% 99,1%
5,7% -117,3% 5,2% 8,5% -95,8% 134,2% 5,5% 100,0% 40,9% -85,7% 5,4% 2,4% N/A 5,6% 5,6%
For further details, please review the Notes to the Financial Statements at: https://www.gruponutresa.com/en/inversionistas/resultados-y-publicaciones/resultados-trimestrales/#2017-3
The Issuer Acknowledgment awarded by Bolsa de Valores de Colombia S.A. (the Colombian Stock Exchange) is not a certification of the favorability of the registered securities nor of the issuer’s solvency.
5
RESULTS 3Q17 STATEMENT OF FINANCIAL POSITION AS OF SEPTIEMBER 30, 2017
Septem ber 2017
Decem ber 2016
% Var.
216 16.091 446 16.753
42 18.098 938 19.078
N/A -11,1% -52,5% -12,2%
2.965 4.729.819 143.857 4.115.298 5.732 7 8.997.678 9.014.431
2.972 4.568.234 138.652 3.809.367 4.945 7 8.524.177 8.543.255
-0,2% 3,5% 3,8% 8,0% 15,9% 0,0% 5,6% 5,5%
130.712 162 1.549 132.423
80.968 188 1.068 82.224
61,4% -13,8% 45,0% 61,1%
168 15.506 6.649 22.323 154.746 8.859.685 9.014.431
168 14.413 6.416 20.997 103.221 8.440.034 8.543.255
0,0% 7,6% 3,6% 6,3% 49,9% 5,0% 5,5%
ASSETS Current assets Cash and cash equivalents Trade and other receivables Other current assets Total current assets Non-current assets Trade and other receivables Investments in subsidiaries Investments in associated Other financial non-current assets Deferred tax assets Other assets Total non-current assets TOTAL ASSETS LIABILITIES Current liabilities Trade and other payables Tax charges Employee benefits liabilities Total current liabilities Non-current liabilities Trade and other payables Employee benefits liabilities Deferred tax liabilities Total non-current liabilities TOTAL LIABILITIES SHAREHOLDER EQUITY TOTAL LIABILITIES AND EQUITY
INDICATORS Consolidated Indebtedness - Net debt/EBITDA (12 months) Solvency - Assets/Liabilities Liquidity - Current Assets/Current Liabilities Separate Indebtedness - Net debt/EBITDA Solvency - Assets/Liabilities Liquidity - Current Assets/Current Liabilities
Septem ber Decem ber 2016 2017 2,81 2,63 1,27
2,82 2,58 1,21
Septem ber Decem ber 2016 2017 58,25 0,13
82,77 0,23
For further details, please review the Notes to the Financial Statements at: https://www.gruponutresa.com/en/inversionistas/resultados-y-publicaciones/resultados-trimestrales/#2017-3
The Issuer Acknowledgment awarded by Bolsa de Valores de Colombia S.A. (the Colombian Stock Exchange) is not a certification of the favorability of the registered securities nor of the issuer’s solvency.
6
Third Quarter sales for Grupo Nutresa grow 3,1% in Colombia, and its consolidated EBITDA margin stands at 12,5% • • •
Sales in Colombia continue to deliver a positive performance, amounting to COP 4,0 trillion, 3,1% higher than revenues for the corresponding term in 2016. Sales abroad increased 5,8% in US dollars, totaling USD 797,7 million after excluding, for comparison purposes, the sales over the first nine months of 2016 in Venezuela. Accumulated EBITDA amounts to COP 800.218 million, representing 12,5% of total sales.
Medellin, October 27, 2017. Grupo Nutresa S.A. (BVC: NUTRESA) discloses its Consolidated Financial Results as of September 30, 2017. Third Quarter sales for Grupo Nutresa in Colombia continue to report a positive trend amounting to COP 4,0 trillion, representing 63% of consolidated sales, and growing 3,1% compared to the same period of last year. Sales abroad, excluding the sales reported in Venezuela for the same period, are USD 797,7 million, representing 37% of total sales, and reporting a 5,8% growth. When expressed in Colombian pesos, these sales are equivalent to COP 2,3 trillion pesos. Consolidated revenues, after the aforementioned exclusion, amount to COP 6,4 trillion, 2,6% higher compared to same period in 2016. This progress is the result of sales growth in the local market and a solid and sustained growth in international revenues. Innovation sales represent 20,6% of total revenues for the period. In alignment with the constant efforts to achieve greater efficiency and productivity, gross profit continues to improve, and amounts to COP 2,8 trillion, 3,0% higher than the same period last year. Operating profit amounts to COP 605.502 million, with an operating margin of 9,5% as a result of an increase in sales expenses associated with greater investment in our distribution channels and savings in our production expenses. With regard to the profitability, consolidated EBITDA totals COP 800.218 million, representing 12,5% of revenues.
The Issuer Acknowledgment awarded by Bolsa de Valores de Colombia S.A. (the Colombian Stock Exchange) is not a certification of the favorability of the registered securities nor of the issuer’s solvency.
1
RESULTS 3Q17 Net post-operative expenses total COP 187.263 million, 14,8% less than the same term in 2016, due primarily to the treatment of the investment in Venezuela as a financial instrument starting October 1st of such year. Finally, consolidated net profit amounts to COP 324.258 million, a 3,6% increase, and represents 5,1% of the sales. Dow Jones Sustainability Index (DJSI) and DJSI MILA Pacific Alliance For the seventh consecutive year, Grupo Nutresa entered the Dow Jones Sustainability Index and continues to be the only company in the food sector from an emerging market to be part of this global index. The Organization once again stood out in all the dimensions of sustainability. In the economic dimension, it obtained the maximum score in terms of health and nutrition, materiality, risk and crisis management, and tax management. In the environmental category, Grupo Nutresa received the highest score in environmental reporting and packaging. Finally, in the social dimension, it achieved the highest valuation in Human Rights. Grupo Nutresa was also included in a new sustainability index in the region, the Dow Jones Sustainability MILA Pacific Alliance Index. This Index focuses on assessing and measuring the performance of the companies in the MILA (Latin American Integrated Market) in terms of corporate sustainability. Separate financial statements of Grupo Nutresa S.A. The Separate Financial Statements of Grupo Nutresa S.A. report COP 331.961 million in operating revenues as of the closing of the Third Quarter of 2017, derived from the application of the equity method on subsidiaries and associated companies for COP 277.757 million, and from the recognition of dividends from the investment portfolio totaling COP 54.204 million. The net profit is COP 330.316 million and the equity amounts to COP 8,9 trillion. The Consolidated and Separate Financial Statements, as of September 30, 2017, as well as the related financial indicators, are an integral part of this release.
The Issuer Acknowledgment awarded by Bolsa de Valores de Colombia S.A. (the Colombian Stock Exchange) is not a certification of the favorability of the registered securities nor of the issuer’s solvency.
2
RESULTS 3Q17 CONSOLIDATED FINANCIAL STATEMENTS INCOME STATEMENT AS OF SEPTEMBER 30, 2017
JanuaryJanuarySeptem ber % Revenues Septem ber % Revenues 2017 2016 Continuing operations Operating revenue Cost of goods sold Gross profit Administrative expenses Sales expenses Production expenses Exchange differences on operating assets and liabilities Other operating expenses, net Operating profit Financial income Financial expenses Portfolio dividends Exchange differences on non-operating assets and liabilities Loss on net monetary position Share of profit of associates and joint ventures Other income (expenses), net Incom e before tax and non-controlling interest Current income tax Deferred income tax Profit after taxes from continuous operations Discontinued operations, after income tax Net profit for the period Non-controlling interest Profit for the period attributable to controlling interest EBITDA
6.391.409 (3.569.154) 2.822.255 (293.049) (1.845.163) (101.420) 1.330 21.549 605.502 10.280 (239.784) 54.321 (15.534) 141 3.313
-55,8% 44,2% -4,6% -28,9% -1,6% 0,0% 0,3% 9,5% 0,2% -3,8% 0,8% -0,2% 0,0% 0,0% 0,1%
6.419.295 (3.679.153) 2.740.142 (293.889) (1.725.263) (107.009) 16.938 17.441 648.360 7.708 (238.650) 50.494 (8.668) (32.946) 2.154
418.239
6,5%
428.452
(119.877) 29.939 328.301 (1.175) 327.126 2.868 324.258
-1,9% 0,5% 5,1% 0,0% 5,1% 0,0% 5,1%
800.218
12,5%
% Var.
-57,3% 42,7% -4,6% -26,9% -1,7% 0,3% 0,3% 10,1% 0,1% -3,7% 0,8% -0,1% -0,5% 0,0% -
-0,4% -3,0% 3,0% -0,3% 6,9% -5,2% -92,1% 23,6% -6,6% 33,4% 0,5% 7,6% 79,2% -100,0% -93,5% -
6,7%
-2,4%
(135.723) 23.579 316.308 (192) 316.116 3.039 313.077
-2,1% 0,4% 4,9% 0,0% 4,9% 0,0% 4,9%
-11,7% 27,0% 3,8% N/A 3,5% -5,6% 3,6%
800.328
12,5%
0,0%
For further details, please review the Notes to the Financial Statements at: https://www.gruponutresa.com/en/inversionistas/resultados-y-publicaciones/resultados-trimestrales/#2017-3
The Issuer Acknowledgment awarded by Bolsa de Valores de Colombia S.A. (the Colombian Stock Exchange) is not a certification of the favorability of the registered securities nor of the issuer’s solvency.
3
RESULTS 3Q17 CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS OF SEPTIEMBER 30, 2017
ASSETS Current assets Cash and cash equivalents Trade and other receivables Inventories Biological assets Other current assets Non-current assets held for sale Total current assets Non-current assets Trade and other receivables Biological assets Investments in associated and joint ventures Other financial non-current assets Property, plant and equipment, net Investment properties Goodw ill Other intangible assets Deferred tax assets Other non-current assets Total non-current assets TOTAL ASSETS LIABILITIES Current liabilities Financial obligations Trade and other payables Tax charges Employee benefits liabilities Current provisions Other current liabilities Total current liabilities Non-current liabilities Financial obligations Trade and other payables Employee benefits liabilities Deferred tax liabilities Other non-current liabilities Total non-current liabilities TOTAL LIABILITIES SHAREHOLDER EQUITY Equity attributable to the controlling interest Non-controlling interest TOTAL SHAREHOLDER EQUITY TOTAL LIABILITIES AND EQUITY
Septem ber 2017
Decem ber 2016
% Var.
244.514 997.236 1.041.736 85.823 295.692 40.926 2.705.927
219.322 889.197 1.028.417 75.677 246.832 100.330 2.559.775
11,5% 12,2% 1,3% 13,4% 19,8% -59,2% 5,7%
24.864 8.823 171.711 4.186.276 3.340.223 72.352 2.061.972 1.158.978 380.851 97.870 11.503.920 14.209.847
23.495 7.433 164.510 3.885.206 3.383.513 71.842 2.034.454 1.163.671 356.994 48.661 11.139.779 13.699.554
5,8% 18,7% 4,4% 7,7% -1,3% 0,7% 1,4% -0,4% 6,7% 101,1% 3,3% 3,7%
782.255 866.238 227.088 200.062 1.139 52.321 2.129.103
847.689 888.840 163.362 161.592 2.734 49.746 2.113.963
-7,7% -2,5% 39,0% 23,8% -58,3% 5,2% 0,7%
2.353.842 158 234.802 690.887 613 3.280.302 5.409.405
2.277.429 158 216.744 705.700 600 3.200.631 5.314.594
3,4% 0,0% 8,3% -2,1% 2,2% 2,5% 1,8%
8.760.740 39.702 8.800.442 14.209.847
8.346.719 38.241 8.384.960 13.699.554
5,0% 3,8% 5,0% 3,7%
For further details, please review the Notes to the Financial Statements at: https://www.gruponutresa.com/en/inversionistas/resultados-y-publicaciones/resultados-trimestrales/#2017-3
The Issuer Acknowledgment awarded by Bolsa de Valores de Colombia S.A. (the Colombian Stock Exchange) is not a certification of the favorability of the registered securities nor of the issuer’s solvency.
4
RESULTS 3Q17 SEPARATE FINANCIAL STATEMENTS INCOME STATEMENT AS OF SEPTEMBER 30, 2017
Dividend portfolio Share of profit for the period of subsidiaries Share of profit for the period of associates and joint ventures Gross profit Administrative expenses Exchange differences on operating assets and liabilities Other operating expenses, net Operating profit Financial income Financial expenses Exchange differences on non-operating assets and liabilities Incom e before tax Current income tax Deferred income tax Net profit for the period Earnings per share
JanuarySeptem ber 2017 54.204 278.103 (346) 331.961 (3.161) (1) 1.803 330.602 4 (1.105) (1) 329.500 (84) 900 330.316 717,89
16,3%
JanuarySeptem ber 2016 50.453
83,8% -0,1% 100,0% -1,0% 0,0% 0,5% 99,6% 0,0% -0,3% 0,0% 99,3% 0,0% 0,3% 99,5%
263.155 2.005 315.613 (2.914) (24) 770 313.445 2 (784) (7) 312.656 (82) 234 312.808
% Revenues
679,83
% Revenues
% Var.
16,0%
7,4%
83,4% 0,6% 100,0% -0,9% 0,0% 0,2% 99,3% 0,0% -0,2% 0,0% 99,1% 0,0% 0,1% 99,1%
5,7% -117,3% 5,2% 8,5% -95,8% 134,2% 5,5% 100,0% 40,9% -85,7% 5,4% 2,4% N/A 5,6% 5,6%
For further details, please review the Notes to the Financial Statements at: https://www.gruponutresa.com/en/inversionistas/resultados-y-publicaciones/resultados-trimestrales/#2017-3
The Issuer Acknowledgment awarded by Bolsa de Valores de Colombia S.A. (the Colombian Stock Exchange) is not a certification of the favorability of the registered securities nor of the issuer’s solvency.
5
RESULTS 3Q17 STATEMENT OF FINANCIAL POSITION AS OF SEPTIEMBER 30, 2017
Septem ber 2017
Decem ber 2016
% Var.
216 16.091 446 16.753
42 18.098 938 19.078
N/A -11,1% -52,5% -12,2%
2.965 4.729.819 143.857 4.115.298 5.732 7 8.997.678 9.014.431
2.972 4.568.234 138.652 3.809.367 4.945 7 8.524.177 8.543.255
-0,2% 3,5% 3,8% 8,0% 15,9% 0,0% 5,6% 5,5%
130.712 162 1.549 132.423
80.968 188 1.068 82.224
61,4% -13,8% 45,0% 61,1%
168 15.506 6.649 22.323 154.746 8.859.685 9.014.431
168 14.413 6.416 20.997 103.221 8.440.034 8.543.255
0,0% 7,6% 3,6% 6,3% 49,9% 5,0% 5,5%
ASSETS Current assets Cash and cash equivalents Trade and other receivables Other current assets Total current assets Non-current assets Trade and other receivables Investments in subsidiaries Investments in associated Other financial non-current assets Deferred tax assets Other assets Total non-current assets TOTAL ASSETS LIABILITIES Current liabilities Trade and other payables Tax charges Employee benefits liabilities Total current liabilities Non-current liabilities Trade and other payables Employee benefits liabilities Deferred tax liabilities Total non-current liabilities TOTAL LIABILITIES SHAREHOLDER EQUITY TOTAL LIABILITIES AND EQUITY
INDICATORS Consolidated Indebtedness - Net debt/EBITDA (12 months) Solvency - Assets/Liabilities Liquidity - Current Assets/Current Liabilities Separate Indebtedness - Net debt/EBITDA Solvency - Assets/Liabilities Liquidity - Current Assets/Current Liabilities
Septem ber Decem ber 2016 2017 2,81 2,63 1,27
2,82 2,58 1,21
Septem ber Decem ber 2016 2017 58,25 0,13
82,77 0,23
For further details, please review the Notes to the Financial Statements at: https://www.gruponutresa.com/en/inversionistas/resultados-y-publicaciones/resultados-trimestrales/#2017-3
The Issuer Acknowledgment awarded by Bolsa de Valores de Colombia S.A. (the Colombian Stock Exchange) is not a certification of the favorability of the registered securities nor of the issuer’s solvency.
6
