Management report

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Management report

We are a dynamic, vibrant and deeply human Organization that self-assesses and evolves, as it is aware of its vulnerabilities and opportunities to continue improving.

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Grupo Nutresa’s capabilities

Our 2020-2030 plan proposes doubling once again our sales with returns greater than the cost of capital. It is based on the three pillars of sustainable development: enhancing the cooperation with people, partners and society; promoting the preservation of the planet; and
encouraging growth, development and innovation. To achieve these objectives, we will continue strengthening our strategic capabilities and building trust-based relationships and cooperation with our stakeholders.

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Perspectives

People, brands and capabilities are the pillars of Grupo Nutresa's business model, and they are great enablers to make our strategy a reality.
The clarity of purpose, the willingness to execute efforts in different time horizons and the connection with society will allow the Organization to evolve and transform itself to manage risks and opportunities.

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By the end of 2021, the Grupo Nutresa was formed by 71 companies, grouped as follows for administrative purposes: eight food Business Units and their production platforms in Colombia and abroad; an international distribution network; four local distribution companies; and four companies that render administrative, logistical and transport services, which provide the corresponding support to the Group’s companies.
 
In compliance with the provisions of the Colombian laws, particularly Article 29 of Act 222 of 1995,Grupo Nutresa S. A., as the parent company of the Business Group, received from its subordinates the sum of COP 459.780 million as dividends, and did not receive any amount from the sale of goods and services. In 2021, Grupo Nutresa S. A. did not endorse financial obligations of its subordinate companies. For their part, the subordinates did not carry out operations for third parties by influence or in the interest of the parent company
 
Moreover, in 2021, Grupo Nutresa S. A. did not
make or stopped making decisions to address the interest or by influence of any of its subordinate companies, and none of them made or stopped making
decisions to address the interest or by influence of
Grupo Nutresa S. A
 

Legal provisions

Grupo Nutresa and its subordinate companies have strictly complied with all intellectual property and copyright regulations. Their trademarks are duly registered, and they all own the respective licenses of the software installed at all facilities and keep the corresponding evidence that allows verifying such compliance.
 
In 2021, the Organization did not receive any notifications of lawsuits and there were no judicial rulings that could significantly affect the Company’s financial condition. No fines or significant penalties were imposed on Grupo Nutresa’s companies or their executive managers.
 
The Note 17 of Grupo Nutresa’s separate financial statements, which are published on the Company’s website, contains all the details of the operations with shareholders and the persons addressed in the Article 47 of Act 222 of 1995 and other concordant regulations. All such operations were carried out under market conditions.
 
The Company declares that it did not hinder the free circulation of invoices issued by the Business Group’s vendors or uppliers. Additionally, the Company certifies that the financial statements and other relevant reports do not contain any flaws, inaccuracies or errors that would impede finding out the true equity situation of the Company, pursuant to the provisions of the Article 46 of Act 964 of 2005.

Assessment of the performance of the information disclosure and financial information control systems

Grupo Nutresa’s internal control system allows guaranteeing the verifiability, reasonableness and reliability of the information required to plan, direct,control, measure and record the performance of its Businesses, and ensuring an adequate and timely disclosure of related information to its stakeholders.
 
In order to keep aligning the operations with the highest international standards, in 2021, the Organization measured the level of maturity of its internal control system based on the COSO 2017 framework, which comprises components of governance and culture, strategy and objectives, performance, review and information, communication and reporting.
 
Finally, the Company established objectives focused on the alignment with leading practices in each one of the components.
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