Grupo Nutresa (NUTRESA) investor relations material

Executive summary

• Consolidated Q2 sales were COP 5.1 trillion, down 1.6% year-over-year due to currency effects, but up 14.4% in USD terms; H1 2026 revenues reached COP 10.3 trillion, up 2.4% year-over-year.

• Colombia drove growth with sales up 11.8%–13% year-over-year, led by biscuits, snacks, and food service; international sales in COP declined but grew in USD.

• Gross margin expanded to 42.5%, up 420–450 bps year-over-year, supported by productivity, hedging, and lower input costs.

• Adjusted EBITDA for Q2 was COP 941.4 billion (18.5% margin), up 19% year-over-year; H1 EBITDA reached COP 2.0 trillion, up 32%.

• Strategic acquisitions in Ecuador (La Universal), Venezuela (Tío Rico), and Colombia (Mimos) were finalized or are pending closure.

Financial highlights

• Q2 consolidated sales: COP 5.1 trillion, down 1.6% year-over-year due to peso appreciation; H1 operating revenue: COP 10.28 trillion, up 2.4%.

• Colombia Q2 sales: COP 3.3 trillion, up 12% year-over-year; H1 Colombian revenues: COP 6.6 trillion, up 13%.

• International Q2 sales: $487.5 million, down 6.8% year-over-year; H1 international revenues: USD 1,005.4 million, up 0.4%.

• Q2 adjusted EBITDA: COP 941.4 billion, up 19% year-over-year; H1 EBITDA: COP 1.95–2.0 trillion, up 32%.

• Net profit for H1 2026 was COP 80.3 billion, down sharply due to FX and financial expenses.

Outlook and guidance

• EBITDA guidance for 2026: $1.15–$1.25 billion, margin between 18% and 20%.

• Confident in maintaining healthy gross margins for 2027, supported by hedging and efficiency initiatives.

• Acquisitions in Ecuador and Venezuela expected to close within six months, pending regulatory approvals.

• 2026 year-end COP/USD rate assumption: 3,300; average for the year: 3,564.