Grupo Nutresa (NUTRESA) Q4 2025 earnings summary

Executive summary

• Achieved record profitability in 2025, with adjusted EBITDA margin at 19.3% in Q4 and 16.8% for the year, surpassing targets set for 2026.

• Full-year revenue grew 10.7% to COP 20.6 trillion, with strong growth in both Colombia and international markets.

• Adjusted net profit increased by 126.6% year-over-year, reaching COP 1.7 trillion.

• Transformation initiatives, operational efficiency, and proactive hedging strategies drove margin expansion.

• Supplier renegotiations and hedging led to a 410 bps structural gross margin improvement in Q4.

Financial highlights

• Adjusted EBITDA for 2025 was COP 3.45 trillion (+45% YoY), with a margin of 16.8%; Q4 margin reached 19.3%.

• Full-year sales reached COP 20.6 trillion, up 10.7% year-over-year; international revenues grew 11.9% to COP 8.3 trillion.

• Adjusted net profit for the year grew 126.6% year-over-year.

• COP 534 billion in one-time restructuring and transformation charges in 2025.

• Net leverage (TTM) at 3.73x; Q4 run rate net leverage at 3.16x, down from 5.29x in March 2025.

Outlook and guidance

• 2026 guidance targets high single- to low double-digit revenue growth and continued international expansion.

• Targeting gross margin around 40% ±100 bps and EBITDA margin of 20% ±100 bps for 2026.

• CapEx expected at 2.5%-3% of revenue, focused on maintenance, capacity, and productivity.

• Adjusted EBITDA guidance for 2026: $1.15–$1.25 billion.

• Cash flow generation targeted at 10%-12% of total revenues.