Peruvian CPG business and aquaculture boosts Alicorp’s Q3 results

21-Nov-2018 - Last updated on 21-Nov-2018 at 19:35 GMT

With 6.5% growth year-on-year, Alicorp’s Peruvian consumer goods business helped the company to post strong results for third quarter of 2018.

Profit (EBITDA) increased by 11.9% year-on-year, to hit amounted to S/ 277 million (US$ 82 million), with EBITDA margin of 12.6%, which represented a 1.3% decrease versus the same quarter in 2017, said the company.

The company reported that revenue from its consumer goods Peru business increased 6.5% year-on-year to reach S/725 million (US$ 215 million) during the third quarter, which was attributed to strong brand positioning in all the segments, a distribution strategy catering to lower socio-economic levels, and recent innovations.

“Additionally, it is important to note that our commercial strategy resulted in an equal or a higher volume share in 13 out of our 19 categories (including subcategories),” added Alicorp in a press release.

New products

The company launched or revamped 21 products during the quarter, including 14 in its Peruvian consumer goods business, five in its B2B business, and two in its international consumer goods business.

Notable among these launches in the Peruvian consumer goods business were new products in the cookies and crackers category, including ‘Soda V Plain’.

In the frozen foods category, the company launched ‘Tumbay’ potato under its ‘Cocinero’ brand.

In its international consumer goods division, the company launched two new products: A new version of the ‘Plusbelle’ shampoo and conditioner with argan and macadamia oil in Brazil, and a new tomato sauce was launched under the ‘Alacena’ brand in Ecuador.

In the B2B business, a new instant yeast was launched under Alicorp’s ‘Nicolini’ brand.

Management changes

At the end of September, the company announced that it had appointed Juan Moreyra Marrou as its new CFO, effective January 01, 2019. Moreyra joined Alicorp in July 2018, as part of the company’s acquisition of Industrias del Aceite S.A. From July 2018 to December 2018, he served as CEO of Alicorp Bolivia.

Additionally, Pedro Malo Rob was appointed as the company’s first Strategy and Digital Vice President. Rob will oversee Company’s strategic growth and digital projects.