Grupo Nutresa S.A. · BVC:NUTRESA
Grupo Nutresa — Q4 2025 Earnings Presentation
24 slides from Grupo Nutresa's earnings presentation, February 2026
Slide 1: Grupo Nutresa Earnings Results 4Q 2025
Grupo Nutresa Earnings Results 4Q 2025
Slide 2: Disclaimer
DISCLAIMER This document contains forward looking statements related to Grupo Nutresa S.A. and its subordinated companies, under assumptions and estimations made by company management. For better illustration and decision making purposes Grupo Nutresa’s figures are consolidated; for this reason they
Slide 3: Key Messages
KEY MESSAGES Fourth Quarter in Review • Strong end of the year across key markets and categories. • Supplier renegotiations and proactive hedging decisions yielded a 410 basis points expansion of structural gross margin improvement. • Record-high profitability results, with adj. ebitda margin reachi
Slide 4: Total Sales - 4Q 2025
Total Sales - 4Q 2025 COP 5.263,5 3,8% Billion COP Percentage variation in volume -Q and Q -2,8% * prices -P 261,3 USD 1.401,0 21,8% 236,2 P 6,7% % chg. YoY Billion COP 232,5 Million USD + 4,3% 217,2 - 2,5% + 17,7% 981,8 + 1,3% 887,6 873,4 816,1 139,8 + 1,8% 107,0 106,0 Billion COP 525,2 + 4,5% - 9,
Slide 5: 4Q 2025 - Colombia & international sales
4Q 2025 - Colombia & international sales 208,6 Colombia sales + 2,2% Q * 783,8 127,9 122,5 117,5 115,9 P COP 3.258,0 8,9% Billion COP + 33,4% + 12,4% + 5,0% - 3,4% 76,5 63,9 480,6 460,4 441,3 435,3 + 10,0% 34,1 USD 867,2 27,8% + 28,6% Million USD 287,5 240,2 - 5,3% Billion COP 127,9 Convention 208,6
Slide 6: Total Sales – Accumulated
Total Sales – Accumulated COP 20.579,0 10,7% 990,6 Percentage variation in volume -Q and 954,8 938,0 Q -2,2% * prices -P Billion COP + 7,8% P 13,2% % chg. YoY Billion COP USD 5.477,4 29,9% + 17,8% + 31,2% 807,0 Million USD 3.721,6 3.587,4 3.524,3 + 3,2% 3.032,0 562,9 + 7,5% 437,7 405,1 2.115,0 - 5,0
Slide 7: Colombia & international sales
Colombia & international sales 771,0 Colombia sales + 3,4% Q * COP 12.263,7 9,9% 2.896,9 478,3 470,6 470,0 434,9 P Billion COP + 9,2% + 29,0% + 10,2% + 9,3% 270,9 227,3 USD 3.264,2 29,0% 1.796,9 1.768,3 1.766,0 1.633,8 + 9,5% 140,0 + 12,0% Million USD 1.017,9 - 4,4% 853,9 Billion COP 525,9 Conventio
Slide 8: Sales by region
Sales by region 2025 United States 14,7% Convention Mexico 2,9% Cold cuts Biscuits Dominican Republic and the Caribbean 1,8% Chocolates 59,6% Central America Coffee Colombia 10,0% TMLUC Ice cream Colombia 59,6% Pasta Retail Food Ecuador 1,4% Other Production 40,4% International Peru Distribution 1,9
Slide 9: Raw materials and Grupo Nutresa Commodities Index
Raw materials Grupo Nutresa Cost Breakdown rolling year Commodities Index –GNCI 2025 Denominated in USD GNCI - Market 250 240 1,0% Poultry 230 Other 32,9% 220 209 2,0% Beef 210 200 176 190 1,8% Milk 180 170 3,7% Oils&Fats 160 150 3,4% Sugar 140 130 121 6,0% Pork 120 117 110 107 100 112 87 6,3% Wheat
Slide 10: Adjusted EBITDA 4Q 2025
Adjusted EBITDA 4Q 2025 EBITDA per business unit 55,7 23,6% Excl. non-recurrent expenses 50,7 + 206,7% COP 1.017,6 74,4% Billion COP 209,5 19,4% 38,2 COP Miles de millones +74,5% 17,6% 29,5 34,1 USD 270,9 104,7% 27,6% 20,2 Million USD 190,6 + 23,8% 14,7% 17,9 17,9 + 33,1% + 76,4% 12,8% 19,2% 27,7% 1
Slide 11: Adjusted EBITDA Accumulated 2025
Adjusted EBITDA Accumulated 2025 EBITDA per business unit 183,5 181,7 19,2% Excl. non-recurrent expenses 18,3% COP 3.447,0 45,2% +164,6% +50,3% 134,2 Billion COP 689,3 682,8 16,6% 99,4 100,0 USD 917,5 70,4% +18,4% 24,5% 80,1 49,9 Million COP 10,7% 66,0 504,3 +29,9% 18,4% +6,5% 11,7% 21,9% Billion CO
Slide 12: Consolidated net debt
Consolidated net debt 20.000 18.000 COP 1.000.000.000 1.123 1.123 16.000 998 998 1.159 14.000 1.107 696 1.023 3.038 3.038 1.085 1.286 12.000 4.755 4.352 10.000 8.000 6.000 11.704 12.000 12.000 1.133 4.000 8.385 8.139 2.000 4.345 0 Bidge loan Bonds Banking debt Leases (IFRS16) Intercompany operations
Slide 13: Consolidated Debt – Principal Maturity
Consolidated Debt – Principal Maturity 13 COP Million
Slide 14: 2026 Outlook
2026 Outlook In terms of the outlook for the current year: • We expect high-single to low double-digit growth • Increased market share penetration in Colombia and continued growth in international markets. • Gross margin at 40% +/- 100 bps through continued supplier negotiations, proactive hedging d
Slide 15: Appendix
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Slide 16: Income statement 4Q 2025
Income statement 4Q 2025 COP MM For further details please check the notes of the financial statements on the following link: http://www.gruponutresa.com/inversionistas/resultados-y-publicaciones/resultados-trimestrales/#2025-4 16
Slide 17: Income statement Accumulated
Income statement Accumulated COP MM For further details please check the notes of the financial statements on the following link: http://www.gruponutresa.com/inversionistas/resultados-y-publicaciones/resultados-trimestrales/#2025-4 17
Slide 18: Financial position – assets
Financial position 2025 December 2025 December 2024 % Var. ASSETS Current assets Cash and cash equivalents 3.195.196 1.128.399 183,2% Financial asset measured at amortized cost 102.540 - N/A Trade receivables and other account receivables, net 2.108.177 2.118.559 -0,5% Inventories 2.558.764 2.447.87
Slide 19: Financial position – liabilities
Financial position 2025 December 2025 December 2024 % Var. LIABILITIES Current liabilities Financial obligations 902.519 567.649 59,0% Loans from related parties 6.836 - N/A Right-of-use liabilities 158.714 207.565 -23,5% Trade payables and other payables 2.370.452 2.041.127 16,1% Tax charges 471.05
Slide 20: Profitability 4Q 2025 – COP/USD
Profitability 4Q 2025 – COP/USD EBITDA EBITDA Margin Business COP 2025 non-recurrent 2025 non-recurrent MM 2025 2024 %Var 2025 2024 expenses expenses Biscuits 103.460 190.618 109.230 -5,3% 10,5% 19,4% 11,6% Chocolates 145.589 209.456 68.286 113,2% 16,4% 23,6% 7,5% Cold cuts 74.770 143.472 115.867 -3
Slide 21: Profitability Accumulated – COP/USD
Profitability Accumulated – COP/USD EBITDA EBITDA Margin Business COP 2025 non-recurrent 2025 non-recurrent MM 2025 2024 %Var 2025 2024 expenses expenses Biscuits 577.546 682.788 454.244 27,1% 15,5% 18,3% 13,2% Chocolates 607.949 689.252 260.525 133,4% 16,9% 19,2% 8,6% Cold cuts 416.888 504.291 425.
Slide 22: Quarterly Average Exchange Rates
QUARTERLY AVERAGE EXCHANGE RATES AVERAGE EXCHANGE RATES PER YEAR USD/CURRENCY AVERAGE CROSS EXCHANGE RATES PER YEAR CURRENCY/COP AVERAGE EXCHANGE AVERAGE EXCHANGE AVERAGE EXCHANGE AVERAGE EXCHANGE COUNTRY CURRENCY RATES FOR THE YEAR RATES FOR THE YEAR VAR. % COUNTRY CURRENCY RATES FOR THE YEAR RATES
Slide 23: Closing Exchange Rates
CLOSING EXCHANGE RATES CLOSING EXCHANGE RATES USD/CURRENCY CLOSING CROSS EXCHANGE RATES CURRENCY/COP CLOSING EXCHANGE CLOSING EXCHANGE CLOSING EXCHANGE CLOSING EXCHANGE COUNTRY CURRENCY RATES RATES VAR. % COUNTRY CURRENCY RATES RATES VAR. % 2024 2025 2024 2025 COLOMBIA COP 4.409,15 3.757,08 -14,79%
Slide 24: Contact
Contact Catherine Chacón Navarro Director of Corporate Finance and Investor Relations Officer e-mail: [email protected] Tel: -+574 325 8731 www.gruponutresa.com This presentation and further detailed information can be found in the following link in our section "Grupo Nutresa Valuation Kit":