Alicorp presents financial results for 2024
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Lima, February 17, 2025.- Alicorp presented its financial results for the last quarter of 2024, reflecting the consolidation of the strategy started in 2023, which focuses on its flagship brands and the channels that generate the most value, such as the traditional channel.
During the fourth quarter of 2024, Alicorp's consolidated sales reached S/ 3,052.3 million, 14.4% more than the same period in 2023. Regarding Adjusted Gross Profit, it registered S/ 831.3 million, 29.8% higher than the fourth quarter of 2023. Meanwhile, Adjusted EBITDA reached S/ 508.5 million, 45.9% more than the same period in 2023.
These results reflect the positive performance of all business units. The figures presented by the company exclude the Milling operation, which was sold in November 2024, and include the results of Refinería del Espino, a company acquired in September of the previous year.
Quarterly Business Unit Results
During the fourth quarter of 2024, the Mass Consumption business in Peru reported an Adjusted EBITDA of S/ 228.5 million, an increase of 22.5% compared to the fourth quarter of 2023. This result reflects the improvement in Adjusted Gross Profit, which reached S/ 398.8 million, an increase of 17.2% compared to the same period last year. These numbers are mainly explained by the performance of categories such as sauces, pasta, oils, and cookies, as well as the incorporation of Refinería del Espino.
Regarding International Mass Consumption, it achieved an Adjusted EBITDA of S/ 30.5 million, a 28.6% increase compared to the last quarter of 2023. Meanwhile, Adjusted Gross Profit reached S/ 85.7 million, a 4.9% increase compared to the same period last year. These figures reflect the positive performance of detergent and spreadable categories. Additionally, the Ecuador business also performed better in response to the prioritization of its categories.
The B2B business (Alicorp Soluciones) experienced a 49.8% growth in Adjusted EBITDA, reaching S/ 125.6 million, and an Adjusted Gross Profit of S/ 195.5 million, a 53.6% growth compared to the fourth quarter of 2023. These results are primarily attributed to the contribution from the acquisition of Refinería del Espino, which accounted for S/ 37 million of the Adjusted EBITDA and S/ 56 million of the Adjusted Gross Profit, as well as the strong performance of the Gastronomy platform.
The Aquaculture business (Vitapro) recorded an Adjusted EBITDA of S/ 114.9 million, reflecting an 84.5% growth compared to the same quarter in 2023, driven by better Adjusted Gross Profit, which reached S/ 151.3 million, 66.1% higher than the same period last year. These results demonstrate the company's efforts to adapt to a challenging international context, where a 22.7% increase in sales volume was achieved due to strategic initiatives, along with lower pressure on raw material costs. In this context, the company continues to deploy a strategy focused on supporting its customers with initiatives that contribute to the profitability of their businesses.
Annual Business Unit Results
By the end of 2024, Alicorp's annual consolidated sales totaled S/ 10,598.3 million. Additionally, the 2024 Adjusted EBITDA reached S/ 1,616.4 million, representing a 31.7% growth compared to the same period in the previous year. This result is primarily explained by a higher Adjusted Gross Profit, which amounted to S/ 2,865.3 million, 19.7% higher than in 2023.
The Mass Consumption business in Peru achieved an Adjusted EBITDA of S/ 861.4 million, a 33.6% growth compared to 2023. Furthermore, the company's strategy of prioritizing key categories and flagship brands, as well as an improved channel mix, resulted in a 24.3% increase in Adjusted Gross Profit, reaching S/ 1,505.0 million. Notably, as a result of the strategy implemented since 2023, the volume of the core portfolio reached 76% of the total for the year.
Regarding International Mass Consumption, this segment reported an Adjusted EBITDA of S/ 137.8 million, 13 times higher than the previous year. Meanwhile, Adjusted Gross Profit grew by 37.4%, reaching S/ 345.8 million.
B2B (Alicorp Soluciones) achieved an annual Adjusted EBITDA of S/ 377.8 million, a 23.2% growth compared to 2023, while Adjusted Gross Profit increased by 25.5%, totaling S/ 599.5 million.
Finally, the Aquaculture business (Vitapro) reported an Adjusted EBITDA of S/ 265.6 million, a 14.0% decrease compared to the previous year. It also registered an Adjusted Gross Profit of S/ 415.0 million, 8.6% lower than in 2023.
For more information, contact:
Sara Rivera
sriverav@alicorp.com.pe
957 405 323
