Grupo Nutresa S.A. Results 3Q 2019
RELEVANT EVENTS – MERCO REPUTATION AND DOW JONES SUSTAINABILITY INDEX RANKING Grupo Nutresa is the most sustainable food company according to the Dow Jones Sustainability World Index of 2019, with the best scores in the following categories: 9 X Economic Dimension Tax strategy Health and Materiality nutrition Social Dimension Corporate Human capital citizenship development and philanthropy Environmental Dimension Operational Packaging Water- related Environmental Eco-efficiency risks reporting 5 X For the fifth consecutive year Grupo Nutresa ranked as the second most reputable company in Colombia, and the first in the food sector 2
RELEVANT EVENTS – ACQUISITION OF CAMERON ´ S COFFEE Product Diversification Relevant presence in the Mid-West Single Serve Valve Bags 36% 64% Organic • Cameron´s offers high-quality coffee at accessible prices in both branded and B2B 23% products. • Located in Shakopee, Minnesota. Premium • 100% own production. 48% • Relevant regional presence of Cameron´s brand in the mid-west of the US, with Flavored potential for expansion 29% • Best-in-class management team with extensive CPG experience • Enterprise Value: USD 113 MM • 12-month sales (July 2019) : USD 72 MM 3
RELEVANT EVENTS – ACQUISITION OF ATLANTIC FOOD SERVICE In March 6 th , 2019 we announced that Grupo Nutresa S.A. signed an agreement to acquire control of Atlantic FS • S.A. S. (“AFS”), a Colombian distribution company in the food service channel. • On October 25 th , we received confirmation from the corresponding anti-trust authorities that all conditions to close the transaction are fulfilled. • AFS is a relevant player in the food service channel in Colombia, delivering superior service to its clients through a portfolio focused in “center of the plate” alternatives. It has presence in the main Colombian cities; Bogotá, Medellin, Cartagena, Barranquilla, Cali, Cucuta and Bucaramanga. • With this investment, Grupo Nutresa will obtain a stronger presence in the food service channel, a very dynamic market with solid fundamentals such as the increasing out-of-home consumption and the higher flow of local and international tourism in Colombia. • AFS will also strengthen our strategy of delivering food products that nourish and generate wellbeing to consumers through diverse channels, with an right price/value ratio. • On closing date, Grupo nutresa will own 51% of the shares of AFS. The amount of the transaction would be COP $42,000 million, approximately. This amount will be adjusted based on the working capital and the financial debt of AFS. 4
COLOMBIA & INTERNATIONAL SALES 3Q2019 Colombia sales + 3,6% Q: + 8,9% SALES PER 418,8 COP 1.569,6 + 8,5% P: - 0,4% * BUSINESS UNIT + 6,0% + 11,2% Billion COP 263,5 255,7 + 5,7% + 8,3% + 9,2% Percentage variation in volume (Q) and prices + 17,8% 167,1 (P) 139,8 126,3 Billion COP 89,1 % chg. YoY Billion COP * Variation doesn’t include Retail Food Cold cuts Biscuits Chocolates Coffee Retail Food Ice cream Pasta Q: + 5,7% Q: + 8,8% Q: + 3,6% Q: + 5,6% Q: + 3,4% Q: + 17,8% P: - 2,0% P: + 2,2% P: + 2,3% P: + 0,0% P: + 5,7% P: + 0,1% International sales + 3,6% - 4,8% USD 294,7 mm + 4,3% 81,7 76,9 COP 984,0 + 17,7% - 2,8% + 39,8% Billion COP 54,6 46,0 + 4,1% + 2,5% Million dolars 19,7 Organic 14,0 % chg. YoY Million dollars USD 288,7 mm + 2,2% COP 963,7 + 15,3% Billion COP TMLUC Biscuits Chocolates Coffee Retail Food Cold cuts 5
SALES TOTAL 3Q2019 Sales total SALES PER COP 2.553,6 + 11,9% BUSINESS UNIT Billion COP + 14,0% 528,6 + 4,7% Organic + 7,5% COP 2.533,3 + 11,0% 465,7 445,9 Billion COP + 25,7% 320,9 + 7,4% 256,6 + 11,1% Billion COP 205,5 + 9,2% + 18,0% 126,3 90,0 Cold cuts Biscuits Chocolates TMLUC Coffee Retail Food Ice cream Pasta % chg. YoY - Billion COP 6
COLOMBIA & INTERNATIONAL SALES ACCUMULATED 2019 + 1,4% Q: + 5,8% Colombia sales SALES PER 1.231,8 P: + 0,5% * COP 4.481,5 + 6,4% BUSINESS UNIT + 5,1% + 9,0% Billion COP 750,2 719,5 + 5,1% + 7,0% + 5,6% Percentage variation in volume (Q) and prices 486,8 + 13,4% 406,2 (P) 349,0 Billion COP 251,1 % chg. YoY Billion COP * Variation doesn’t include Retail Food Cold cuts Biscuits Chocolates Coffee Retail Food Ice cream Pasta Q: + 2,0% Q: + 7,4% Q: + 3,0% Q: + 5,7% Q: + 2,3% Q: + 12,6% P: - 0,5% P: + 1,5% P: + 2,0% P: - 0,5% P: + 3,2% P: + 0,7% International sales - 5,6% USD 838,7 mm + 1,1% + 1,9% COP 2.718,5 + 13,5% 245,7 235,3 + 1,0% Billion COP + 19,2% 143,1 112,9 + 3,6% - 8,1% Million dolars Organic 57,4 % chg. YoY Million dollars 39,5 USD 832,7 mm + 0,3% COP 2.698,2 + 12,6% Billion COP TMLUC Biscuits Chocolates Coffee Retail Food Cold cuts 7
SALES TOTAL ACCUMULATED 2019 Sales total SALES PER COP 7.200,0 + 8,9% BUSINESS UNIT Billion COP + 11,7% + 1,6% Organic 1.482,2 + 8,1% 1.360,0 COP 7.179,7 + 8,6% Billion COP 1.215,0 + 16,0% + 5,9% 853,9 795,0 + 9,8% Billion COP 592,0 + 5,6% + 13,4% 349,0 253,1 Cold cuts Biscuits Chocolates TMLUC Coffee Retail Food Ice cream Pasta % chg. YoY - Billion COP 8
SALES BY REGION 2019 United States Dominican Republic and the Carribbean 8,9% 1,9% Mexico Venezuela 3,7% 62,2% Colombia Central America Peru 9,8% 37,8% 2,1% International Colombia Chile 62,2% 7,8% Ecuador Other 1,5% 2,1% Convention 9 Production Distribution Services
MARKET POSITION Colombia + TMLUC Cold Cuts Biscuits Chocolates TMLUC Ice Cream Pasta Retail Food Coffee Chocolate Ice Cream #1 Roast and ground ICB* (A) #1 #1 #1 confectionery (A) coffee #1 #1 in Hamburgers and #1 (A) Steakhouses #1 categories in Pasta (B) Colombia Hot chocolate #2 (B) #1 Soluble coffee (B) Coffee (C) #2 #1 #2 Milk modifiers (C) in Ice Cream shops – #2 Rep. Dom & CR Potato chips (D) #2 Nuts (D) #1 Mexico ICB* (E) #2 #2 Private labels #2 Nestlé (A) #2 Ferrero (A) #2 Águila Roja (A) #2 Carozzi #2 La Muñeca #3 Mondelez (B) #1 Carozzi (B) #2 Casa Lúker (B) #1 Nestlé (C) #1 Nestlé (C) #1 Nestlé (D) #1 Frito Lay (D) #2 Frito Lay (E) #1 Mondelez *ICB= Instant Cold Beverages Source: Nielsen twelve months as of august 2019 10
RAW MATERIALS Commodities Index Cogs Breakdown Grupo Nutresa 2019 1,6% Poultry 2,5% Milk 2,8% Beef 3,5% Oils & fats 4,5% Sugar 38,9% Other 5,2% Cocoa 7,3% Pork 7,5% Wheat 15,1% Pack. Mat. 11,1% Coffee The technical specifications of the GNCI may be obtained at: https://www.gruponutresa.com/en/inversionistas/resultados-y- publicaciones/resultados-trimestrales/#2019-3 11
EBITDA 3Q2019 13,3% EBITDA 14,6% EBITDA PER + 13,2% COP 344,5 + 14,5% BUSINESS UNIT - 14,8% 70,2 Billion COP 64,9 10,1% 14,0% Margin 20,8% - 4,9% 14,9% + 62,3% + 100,9% 13,5% 46,9 + 14,9% 44,8 42,7 38,2 16,8% Billion COP + 17,7% 8,3% 21,3 - 4,5% 7,5 Total Cold cuts Biscuits Chocolates TMLUC Coffee Retail Food Ice cream Pasta EBITDA Margin without IFRS 16 9,0% 12,7% 14,0% 13,4% 13,5% 13,2% 15,2% 6,9% 12,0% Variation -15,1% + 8,0% -18,1% + 3,3% +56,9% +27,8% + 6,6% - 21,2% +2,0% EBITDA 306,8 Convention 10,1% EBITDA Margin without IFRS 16 impact - 4,9% % YoY variation 46,9 EBITDA in Billion COP 12
EBITDA ACCUMULATED 2019 EBITDA 14,4% EBITDA PER COP 992,5 + 18,0% BUSINESS UNIT + 18,6% 15,0% Billion COP 213,6 - 5,8% 11,5% Margin 182,3 + 1,2% 21,7% 13,8% 157,0 14,2% 12,4% + 115,5% + 11,8% 128,2 + 31,0% 112,7 105,5 Billion COP 14,1% 11,7% + 22,7% + 17,7% 49,2 29,6 Total Cold cuts Biscuits Chocolates TMLUC Coffee Retail Food Ice cream Pasta EBITDA Margin without IFRS 16 10,4% 13,8% 14,4% 12,7% 11,8% 13,5% 12,4% 10,2% 12,2% Variation - 8,9% + 13,6% - 9,7% + 0,3% + 25,0% + 34,1% + 7,6% + 3,2% + 4,7% EBITDA 880,6 Convention 11,5% EBITDA Margin without IFRS 16 impact +1,2% % YoY variation 157,0 EBITDA in Billion COP 13
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