Grupo Nutresa strives to permanently create value and distribute it among its stakeholders through relevant drivers, such as an ethical and transparent corporate behavior and the Company’s performance in the markets, which is supported on the development of the geographies, as well as on growth, competitiveness and digital transformation with the purpose of generating a business model that can easily adapt to the changing and challenging global business environment.
Incorporating capabilities based on digital services, taking as a starting point the cultural transformation, the development and adoption of new technologies, the identification of new business models, the development of the value chain, and the evolution of both data and analytics.
The digital transformation in Grupo Nutresa is primarily based on the cultural aspects and the adoption of work models. It incorporates new capabilities related to digital services and combines technologies from the industry 4.0. In 2021, the Company consolidated the digital ecosystem, which is part of the corporate strategy for 2030, placing emphasis on clients, consumers and customers on the following work fronts:
The human being is the Organization’s main pillar. Therefore, Grupo Nutresa incorporated specialized talents and built the employees’ capabilities through continued learning activities dealing with technologies and work models from the industry 4.0. Additionally, 168 leaders received training related to adaptability and innovation with the purpose of implementing new capacities and working methods.
Exploration and development of new technologies
Strengthening of the model that focuses on the internalization of new technologies placing emphasis on the management of the ecosystem, the development of 4.0 capabilities, the creation of road maps, and the exploration and reutilization of the Business Units’ success stories.
Data and analytics
Development of capabilities related to analytics specifically focused on data science and engineering. The Company implemented the information repository, which feeds the business models and the augmented analytics (data lake). In 2022, processes will be designed to manage the user information that is utilized with secondary purposes. [CG-EC-220a.1]
The Company has also established the description of the approach for identifying and addressing the risks associated with data security [CG-EC-230a.1] . These actions are carried out by performing the prioritization of the vulnerabilities. In addition, the Organization created the Information Security Policy and supplemented it with training and awareness-raising activities for the employees.
Grupo Nutresa has consolidated the description of the policies and practices related to advertising based on users’ behavior and privacy [CG-EC-220a.2] .These policies and practices are implemented on two fronts: firstly, each digital service publishes the corresponding policies of use, which are subjected to the user’s approval; and secondly, the suppliers of digital services have thorough data use policies in place with the respective consent of all audiences.
Evolution of the support processes
Creation of a platform with auction and hiring processes that is intended to digitize the interaction with suppliers. Additionally, the Organization automated the administrative tasks by incorporating RPA.
Development of the value chain
Use of exoskeletons in the Cold Cuts Business, as well as drones for inventory management in the Pastas Business, and 3D printing for manufacturing spare parts in Novaventa. The Company also developed dynamic routing tools that were implemented in secondary logistics to optimize the fleet and the distribution operation. Additionally, the Integrated Distribution Control Center was consolidated, focusing on the monitoring of routes and deliveries, and on descriptive data analytics to ensure the continued improvement.
Distribution centered on customers and shoppers
Design of a home delivery model for consumer-reaching digital platforms with high standards of user experience, safety and technology. The Organization consolidated the service provided to specialized digital customers in Colombia and United States, and made progress in other geographies. The Company also deployed digital solutions for the traditional channel, thus improving the business relationship with clients and their development process, and implemented artificial intelligence models that measure and ensure the adequate presence of the portfolio at the points of sale.
Brands that are easily accessible to consumers
Strengthening of the social selling models for direct sales with individual entrepreneurs and the omni-channel digital engagement models for the institutional channel. Additionally, Grupo Nutresa expanded the presence of its brands in the clients’ e-commerce platforms, and improved the experience for consumers on its own digital marketplaces.
New business models
Development of digital services for the creation of communities with consumers and shoppers, as well as their activation at the points of sale and the creation of supplementary social selling models.
Profitably growing based on the construction of a category and geography portfolio that maximizes the creation of value through memorable experiences with effective commercial networks, and generates synergies that optimize the working capital.
In 2021, Grupo Nutresa achieved COP 12.738 trillion in consolidated sales, with a 14,5% growth, thus fulfilling the profitable growth expectations that had been set.
The Organization makes progress in the fulfillment of its strategy for 2030 of doubling the sales recorded in 2020 by developing brands that are leaders in relevant categories, offer nutrition, well-being and pleasure, and generate memorable experiences with effective commercial networks.
Based on the understanding and the interpretation of consumers, shoppers and customers, Grupo Nutresa defines the market entry strategies by considering cultural and human-talent elements in order to consolidate its position in the geographies where it operates. Consequently, the Company strives to generate experiences that are differentiated by means of value propositions that meet and solve needs, and that achieve the expected connection, closeness, loyalty and preference for consolidating its position in the geographies.
The power of the brands, the knowledge on distribution models and the design of customer engagement models are intended to boost the development of the geographies with appraised sales. This boost has been a relevant aspect of the capacity building process regarding business management capabilities and exhibits significant progress, even consolidating the Organization’s presence in exploratory geographies such as Asia and Africa.
As an opportunity and leveraging the experience and the historically developed capabilities, Grupo Nutresa incorporated C.I. Nutrading with the purpose of contributing to managing the Colombian industry’s export capacities and supporting the companies in the process of accessing new markets through Grupo Nutresa’s networks and capacities.
Tax strategy and governance
Grupo Nutresa has a tax policy reviewed and approved by the Board of Directors, which is also publicly available. This strategy is applicable based on an ethics and transparency framework, observing the Base erosion and profit shifting (BEPS) measures, in addition to the tax regulations of each country where the Company operates. The purpose of this is to prevent disloyal practices in the markets where Grupo Nutresa participates, always striving to ensure the taxation levels and the tax benefits granted to the Organization contribute to the sustenance and development of the countries where the Company operates.
Additionally, and with the objective con countering regulatory noncompliance risks, Grupo Nutresa constantly monitors and keeps watch of the regulatory projects and bills that are being discussed in each country with the aim of identifying in an anticipated way the impact such amendments would have and the implementations that would be required in the information systems to comply with the changes in tax matters. [GRI 207-1] [GRI 207-2]
Based on its deep commitment to information transparency, the Organization discloses in its financial statements the most relevant tax information of each term for the stakeholders to have access to it and be duly informed. Furthermore, and within the legal time frame, the information demanded by the multiple tax authorities is duly submitted, and all visits, calls and inspections are timely addressed as required by the corresponding officers, also providing unabridged documentation for the respective audits as needed. [GRI 207-3]
The Company is aware of the importance of paying taxes and the impact such resources have on society. Therefore, for several years now, the Organization has been disclosing to its stakeholders the details of the tax payments in each country where it operates, demonstrating the complete transparency of its information management process. In this respect and with regard to each one of the companies that are part of Grupo Nutresa, the Company discloses information related to their main activity and number of employees, and for each jurisdiction the total revenue, income before taxes, the current income tax expense and the income tax paid for each term is duly informed. [GRI 207-4]
Consolidating the Company’s close relationships with its consumers, shoppers, clients and customers, as well as their preference, satisfaction and loyalty by delivering differentiated value propositions that contribute to their growth, profitability and sustainability.
Grupo Nutresa strives to deliver to its stakeholders memorable experiences by leveraging the capacities the Organization has built and that it can offer to the geographies where it operates. Based on the generation and disclosure of knowledge, the Company carried out actions that are consistent with the current market dynamics.
Additionally, Grupo Nutresa constantly looks to strengthen the business relationships with its customers through loyalty-building plans and by sharing knowledge with the purpose of boosting their development based on diverse training activities.
The Organization also improves the portfolios currently required by the households and, therefore, increases the coverage areas, thus minimizing the effects of the COVID-19 pandemic and the region’s sociopolitical situations. Grupo Nutresa’s brands go beyond the governmental restrictions and the laws regarding labeling in all geographies with the aim of providing the consumers with tools that enable them to acquire adequate eating habits and to be adequately informed, as it has been established in one of the Organization’s nutritional strategy objectives. In addition, the Company consolidates initiatives that lessen its impact on the environment.
Moreover, Grupo Nutresa strives to deliver value propositions that generate notable experiences for consumers that are consistent with the lifestyles emerging as a consequence of COVID-19, governmental regulations and the education available in a hyper-connected world.
Finally, the brands deploy actions that respond to and strengthen Grupo Nutresa’s superior purpose: building a better world where development benefits everyone.
Establishing a conductfra work governed by transparency, integrity and ethics by developing management, information reporting, and risk control and management policies with the objective of strengthening the Organization’s trust-based relationships for the benefit of the shareholders and all other stakeholders.
Board of Directors
The Organization ensured an optimal communication with its shareholders and all other stakeholders through the report on the implementation of leading corporate practices and the annual corporate governance report, which presents its most relevant facts and news. The Board of Directors held meetings on a monthly basis and all the support committees fulfilled their responsibilities and meeting frequency established on the Code of Corporate Governance.
The Company continued developing the communication and training strategy known as ‘I act with integrity’ in order to foster an integrity-based culture among the employees, suppliers and customers. Additionally, Grupo Nutresa’s Compliance Committee was created, and it will be in charge of monitoring the compliance system and formulating the necessary strategies for ensuring its operation and improvement.
Grupo Nutresa designed and disclosed its Competition Policy, which sets the premise for its Companies to respect the free participation in the market, business loyalty, consumers’ well-being and economic efficiency.
Transparency and Business Ethics Program
In 2021, the Organization started the updating process for the transparency and business ethics programs (abbreviated PTEE in Spanish) of its Business Units in Colombia. In addition, the composition and operation of the Committee of Ethics, Transparency and Conflicts of Interest were modified.
Prevention of the risk associated with ML/TF/FPWMD
Progress was made in the consolidation of the system by building the capacities of the compliance officers, raising the awareness of all employees, updating the policy, manual and procedures, and executing all the aspects related to the maintenance of such system.
n the context of labor laws concepts, the Organization covered a total of COP 1.070.154.521 in expenses from retroactive pension payments, reimbursements and other concepts. Moreover, no fines due to labor discrimination were imposed on the Company. [FB-FR-310a.4]
Finally, no significant sanctions or fines due to the breaching of regulations or laws were imposed on Grupo Nutresa or its subsidiary companies. [GRI 2-27] [FB-FR-310a.4]
In 2021, the Organization made progress in the integration of the risk, trend and opportunity management model into the strategy for 2030, monitored the risks at the multiple management levels, and created the risk analytics model.
Along the same line, the Company organized activities focused on building capacities related to risks management, continuity and crisis management, as well as resilience model diagnostic exercises, and the expansion and improvement of the business continuity system.
Selection of a specialized supplier for the management of the Organization’s Ethics Hotline, whose scope covers all of Grupo Nutresa’s Business Units and geographies. In total, 279 cases were managed in 2021: employees were involved in 91% of them and 9% were related to third parties. Furthermore, 77% of the reported cases were confirmed with full investigations, and have been duly closed. [GRI 205-3]
Ensuring the continuity of the business, capitalizing on opportunities and managing the risks that are not directly controlled by the Company by incorporating economic, social and environmental variables in the management of the supply chain.
Responsible and productive sourcing processes
In line with its goals for 2030, Grupo Nutresa develops the capabilities of its suppliers following its responsible sourcing model. It seeks to ensure the Organization’s continuity, capitalize on opportunities and manage the risks that are not directly controlled by the Company through the incorporation of economic, social and environmental variables. In 2021, Grupo Nutresa attained the following achievements:
Created a task force on commodities and established the road maps for 2030 in relation to the main 16 commodities with the aim of ensuring their sourcing in a productive and sustainable way while preserving biodiversity.
Updated the environmental and social risks for the supplies and service categories in Costa Rica.
Reviewed the coverage policies with defined risk levels and limits to ensure their alignment with the evolution of the market. Expanded the coverage of supplies managed by the Commodities Committee, including palm oil, pork, corn and soy.
Support provided to Belina
Conducting the technical and fundamental analysis for the main commodities and packaging materials within the framework of the coverage policy for managing the economic and business-continuity risks.
Reviewing the economic impact caused by the management of the commodities mix, and adopting short, medium and long-term strategies.
Training 1.900 suppliers in matters related to the three dimensions: sustainability, quality and safety. The sessions had an attendance of 19.499 participants (suppliers of goods and services). Based on the design thinking methodology, which was promoted among five suppliers of commodities and packaging materials through training activities in Costa Rica, such suppliers created waste management proposals that produced a positive impact on both their operations and the environment.
Performing 458 supplier audits, 47 of which were sustainability audits. Additionally, 358 integrated management system audits were conducted. More than 90% of the total suppliers that were screened ranked at favorable levels, which enables them to supply goods and services to Grupo Nutresa.
Publishing the guide of sustainability actions for the primary production and sustainable sourcing of milk as the result of the study on the milk sourcing chain conducted jointly with the WWF.
Identifying the main commodities for the Cold Cuts Business (122), as well as its suppliers (27), on which the Company will focus its continuity plans as of 2022 under the risk management methodology.
Giving continuity in Tresmontes Lucchetti to the durum wheat sustainable development program in partnership with the National Agricultural and Livestock Research Institute (abbreviated INIA in Spanish). As of 2021, the covenant incorporates the supply of certified seeds, which guarantees the availability for the farmers.
Achieving that the business relationships with 100% of the wheat suppliers in Chile are governed by the contract farming methodology; therefore, they are covered by the statement of sustainability and compliance with Grupo Nutresa’s policies and data processing.
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