I T I N S P I R E S U S A FUTURE RE TOGETHER Grupo upo Nutre resa sa S.A. Resul ults ts 1Q Q 2019 2019
RELEVAN EVANT EVENTS Relevant information for the market in March 6, 2019 GRUPO NUTRESA S.A. ENTERED INTO TO AN AN AGREEMENT TO TO ACQUIRE 51 51% OF OF ATLANTI TIC FS FS S.A.S. Grupo Nutresa S.A. has signed an agreement to acquire control of Atlantic FS S.A. S. (“AFS”), a Colombian distribution company in the food service channel. Once the procedures before the corresponding authorities are completed and the conditions to close the transaction are fulfilled, Grupo Nutresa would own 51% of the shares of AFS. The amount of the transaction would be COP$ 42,000 million, approximately. This amount will be adjusted on the closing date of the transaction based on the working capital and the financial debt of AFS. 2
RELEVAN EVANT EVENTS According to the Business Monitor of Corporate Reputation – MERCO - in its Social Responsibility and Corporate Governance version, Grupo Nutresa is the most socially responsible Company and holds the best corporate governance standards in Colombia. 3
IFRS RS 16 - MAIN EFFEC ECTS S ON THE FINAN ANCIAL AL STATEMEN EMENTS As of January 1, 2019, the Financial Statements of Grupo Nutresa, reflect the application of a new accounting standard for leases: • IFRS 16. This standard eliminates the distinction between operating and financial lease contracts, and proposes to account for them as follows: • For those contracts that were previously classified as operating leases, with a duration greater than 12 months, there is a recognition – of a right-of-use- asset for the duration of the contract, and it ´ s corresponding liability. These new accounts registered in the Statement of Financial Position, (Right-of-use assets and Right-of-use liabilities) are the result – of calculating the net present value of the projected payments of these contracts. For the calculation of the discount rate, Grupo Nutresa uses a distinctive interest rate by country that considers both the duration and – type of asset. Below we present the main effects in Grupo Nutresa ´ s Statement of Financial Position and we highlight to the notes to the Financial • Statements where you can find more detailed information: Right-of of-use use asset ets Right-of of-us use e liabilities es Real estate leases* 860.000 Right-of-use liabilities (Note 15) 929.017 Transportation equipment leases* 55.742 Non-current provisions (Note 18) 5.899 Machinery and production equipment* leases 19.174 Total Right-of of-use liabilities es 934.916 934.916 Total Right-of of-use Assets ts (Note 11) 11) 934.916 934.916 % Increase of liabilities vs. 2018 18,0% % Increase of Assets vs. 2018 6,9% *With the exception of those leases cataloged as short-term, as well as those denominated as low value. 4 Values expressed in millions of Colombian Pesos
IFRS RS 16 - MAIN EFFEC ECTS S ON THE FINAN ANCIAL AL STATEM EMEN ENTS Additionally, there is a change in the accounting for leases on the Income Statement with the new IFRS 16 standard: • 1. The leases are no longer registered as an operational cost or expense. 2. In its place, there is a depreciation associated with the Right-of-Use Asset for the corresponding period. 3. In the post-operative expenses, there is a financial expense associated to the Right-of-use Liability. The difference between the amortization of capital and the financial expenses paid reduces the Right-of-Use Liability account. Below, a summary of the main effects of this new standard on Grupo Nutresa ´ s Income Statement for the quarter: • Main chang nges es in Incom come Stat atem emen ent 1Q 2019 2019 1. Lease expenses 37.022 2. Right-of-use depreciation (Note 20) (27.680) Operat ating ng profit 9.342 42 3. Right-of-use financial expenses (Note 14.7) (15.588) Net profit (6.246) 246) EBITDA (Not ote e 5,2) 37.022 022 For further information on these changes, please refer to the Financial Statement Notes referenced on the charts. • Values expressed in millions of Colombian Pesos 5
COLOMBI LOMBIA & INTERN ERNAT ATIONAL ONAL SALES ES 1Q2019 Colombia bia sales es - 0,1% SALES ES PER Q: + 3 3,3% COP 1.408,2 + 4,6% BUSINESS INESS 399,6 P: + 1 1,3% * + 5,9% + 5,6% COP Billion UNIT UNIT + 4,4% 235,4 + 4,1% 219,4 + 0,7% + 9,6% 154,0 127,9 112,1 Percentage variation in volume (Q) and 76,6 COP Billion prices (P) % chg. YoY Billion COP * Variation doesn’t include Retail Food Cárnico Galletas Chocolates Café Alim. al Helados Pastas Cold cuts Biscuits Chocolates Coffee Retail Food Ice cream Pasta Consumidor Q: - 0,3% Q: + 4,1% Q: + 3,5% Q: + 6,0% Q: - 0,6% Q: + 8,4% P: + 0,2% P: + 1,5% P: + 2,4% P: - 1,6% P: + 1,3% P: + 1,1% Interna nation tional al sales - 5,2% USD 267,3 mm + 0,8% + 2,3% COP 837,6 + 10,5% 82,5 76,1 COP Billion + 8,2% USD Million + 9,9% 44,7 + 1,8% 31,1 - 13,2% % chg. YoY Million dollars 18,5 12,9 TMLUC TMLUC Biscuits Chocolates Coffee Galletas Chocolates Café Alim. al Consumidor Retail Food Cold cuts Cárnico 6
SALES ES TOTAL AL 1Q2019 Sales s total SALES ES PER BUSINESS INESS COP 2.245,7 + 6,7% UNIT UNIT COP Billion + 8,9% - 0,5% 457,9 440,1 + 10,3% 375,4 + 3,9% + 10,1% COP Billion 258,5 251,4 + 6,3% 186,0 + 0,7% + 9,6% 112,1 77,3 Cárnico Galletas Chocolates TMLUC Café Alim. al Helados Pastas Cold cuts Biscuits Chocolates TMLUC Coffee Retail Food Ice cream Pasta Consumidor % chg. YoY - Billion COP 7
SALES ES BY REGI GION ON 2019 United States Dominican Republic and the Carribbean 8,4% 1,8% Mexico Venezuela 3,7% 62, 2,7% 7% Colombia Central America Peru 9,9% 37, 7,3% 3% 1,8% International Colombia Chile 62,7% 8,4% Ecuador Other 1,3% 2,0% Convention 8 Product ction ion Dist strib ibutio tion Service vices
MARKET KET POSI SITION ON Colombia + TMLUC Cold cuts ts Biscuits ts Chocolate tes Coff ffee TMLUC UC Ice Cream Pasta ta Reta tail Food od Chocolate #1 #1 #1 #1 #1 #1 #1 Roast and ground ICB* Ice Cream confectionery #1 #1 #1 #1 coffee (A) In Hamburgers and #1 #1 #1 #1 Steakhouses categories in Colombia Pasta Hot chocolate #2 #2 #1 #1 Soluble coffee (B) #2 #2 #1 #1 Coffee #2 #2 Milk modifiers In Ice Cream shops #2 #2 – Rep. Dom & CR Potato chips #2 #2 Nuts #1 #1 Mexico ICB* #2 #2 #2 Private labels #2 Nestlé (A) #2 Ferrero (A) #2 Águila Roja (A) #2 Carozzi #2 La Muñeca #3 Mondelez (B) #2 Casa Lúker (B) #1 Nestlé (B) #1 Carozzi (C) #1 Nestlé (C) #1 Nestlé (D) #2 Frito Lay (D) #1 Frito Lay (E) #1 Mondelez *ICB= Instant Cold Beverages Source: Nielsen twelve months as of February 2019. Market Position meassured in Value 9
RAW MATERIALS ERIALS Commodities ities Index Cogs Breakdow down Grupo Nutresa 2019 1,7% Poultry try 165 155 3,1% Beef 145 3,6% Oils & fats ts 144 135 3,7% Milk 125 113 115 4,4% Sugar 37,8% Other 113 112 105 107 5,0% Cocoa 95 95 7,1% Wheat 85 87 87 86 86 75 7,3% 82 Pork 76 15,5% Pack. Mat. 65 10,8% Coffe fee 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2018 2019 2019 The technical specifications of the GNCI may be obtained at: https://www.gruponutresa.com/en/inversionistas/resultados-y-publicaciones/resultados- trimestrales/#2019-1 10
EBITDA 1Q2019 EBITDA DA EBITDA DA PER PER 14,0% 16,8% COP 320,1 + 17,1% BUSINESS INESS UNIT 13,1% + 9,2% + 4,0% COP Billion + 6,4% 63,9 62,9 70,0 22,6% Margin 57,7 14,8% 60,0 14,3% + 100,9% + 12,9% 50,0 9,9% 42,0 38,2 COP Billion + 5,8% 14,3% 40,0 14,0% 24,9 + 24,3% 30,0 + 23,1% 16,0 20,0 10,8 10,0 0,0 Cold cuts Biscuits Chocolates TMLUC Coffee Retail Food Ice cream Pasta Total Cárnico Galletas Chocolates TMLUC Café Alim. al Consumidor Helados Pastas EBITDA TDA Marg rgin with thout IFRS S 16 16 11,9% 13,4% 15,9% 13,3% 9,2% 13,6% 12,6% 12,7% 12,6 ,6% Vari riati tion - 3,5% + 4,6% - 1,1% + 1,5% - 1,7% + 21,5% + 9,5% + 12,1% + 3,6% EBITDA TDA 283.1 .1 Conventi tion 13,1% EBITDA Margin without IFRS 16 impact +6,4% % YoY variation 57,7 EBITDA in COP Billion 11
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