Grupo Nutresa (NUTRESA) Q2 2025 earnings summary

Executive summary

• Achieved double-digit consolidated growth in sales and EBITDA for the first half of 2025, demonstrating resilience amid volatile commodity prices and ongoing transformation initiatives focused on cost optimization, digital acceleration, and logistical synergies.

• Revenues for H1 2025 reached COP 10 trillion, up 14.5% year-over-year, with dynamic growth in both Colombia and international markets.

• EBITDA increased 24.4% to COP 1.48 trillion, with a margin on sales of 14.7%.

• Net income surged 94.8% to COP 712.8 billion, driven by operational improvements and the sale of minority shares.

• Share buyback program executed, purchasing 1.1 million shares (0.25% of total shares).

Financial highlights

• First half sales reached COP 10 trillion, up 14.5% year-over-year, or $2.4 billion; Q2 sales were COP 5.2 trillion, up 15.8% year-over-year.

• EBITDA for Q2 (excluding non-recurring expenses) was COP 791 billion (15.3% margin), up 40% year-over-year.

• Net profit for Q2 was COP 475 billion, up 195% year-over-year; accumulated net profit for H1 was COP 712.8 billion, up 94.8%.

• Operating profit for Q2 was COP 643 billion, up 51.2%; adjusted operating profit was COP 686 billion, up 61%.

• Gross margin for Q2 2025 was 38.0%, and for H1 was 38.4%, both up year-over-year.

Outlook and guidance

• Sales and EBITDA expected to continue growing in the second half, with commodity costs easing and gross margin improvement anticipated.

• Free cash flow will be used to accelerate deleveraging, targeting a $100 million debt reduction in Q3.

• 2025 EBITDA guidance set at COP 3.3 billion (after non-recurring expenses).

• 2026 EBITDA margin target remains 18–20%, driven by ongoing cost reductions and transformation initiatives.

• Focus remains on margin expansion, structural EBITDA growth, and achieving deleveraging objectives in H2 2025.