The dynamics of our 6 Sustainable Management Priorities pursues economic, social and environmental balance, while maximizing value for all our stakeholders.
At Colombina we are convinced that integral and transparent management is essential for building trust with our stakeholders. Therefore, it is a pleasure for me to present our sustainability report.
2019 was a year of important achievements and advances in strategic projects that contribute to the sustainable growth of the business. Our financial performance had a positive dynamic, with a 7% growth in sales and an EBITDA margin over sales of 12.1%, up 500 basis points from the previous year, growing in absolute terms by 9%. This is the result of more efficient management, both in our operations and in our commercial offer.
In environmental matters, our cookies and crackers plant, Colombina del Cauca, achieved a very important recognition: the certification of the Zero Waste System in GOLD Category, highlighting the strategies implemented to reduce and recycle industrial surpluses. It is important to highlight that this is the first time that a food plant in Colombia has received such certification. This news fills us with pride and ratifies our ongoing commitment to implement standards aimed at strengthening environmental management systems.
Being sustainable also means evolving in line with consumption needs. This is why we launched the new image of our La Constancia sauces, which incorporates the benefits of a portfolio free from artificial colors and flavors.
Furthermore, our efforts to eliminate gender gaps have been recognized by the International Labor Organization (ILO), noting that we are the first private sector organization in Latin America to implement the model of pay equity proposed by the ILO. We also became the first food company to achieve the Gold Seal of Equal Employment Opportunity.
This year, we carried out our new ordinary bond issue in the amount of COP 300,000 million, which was welcomed by investors (1.8x the amount offered), and reaffirms the trust we have managed to generate in the financial market.
Finally, I am very pleased to inform you that for the fourth time in a row, Colombina is part of the top 10 food companies with best sustainability practices in the world, according to the RobecoSAM and Standard & Poor’s Sustainability Yearbook. We are proud of this recognition because it reflects our continuous efforts to manage the business in an ethical and responsible manner with all stakeholders, and inspires us to continue strengthening our corporate practices hand in hand with all employees of the organization.
Since 2013, we have been conducting our materiality analysis based on three factors:
Promote venues and communication channels geared toward aligning our employees with its organizational objectives, generate development and welfare strategies, and get their take on our organizational climate to nurture an enduring on-the-job climate of: equal opportunity, trust-based relationships and personal and professional growth.
Post solid reliable data on Colombina's performance as the main input for decision-making for profitable growth and Good Corporate Governance practices.
Synch with the dynamics of our surrounding community to foster empowerment and self-management.
Strengthen our supply chain and bolster our Relationships of Trust.
Generate the win-win benefit that comes from timely response to costumers coupled with strategy building geared toward satisfactorily serving the end-consumer.
Generate close ties and delve into consumer tastes, needs and habits to offer top-notch experiences from our products.
Colombina, one of the best sustainably managed food companies in the world
The Company is listed by RobecoSAM, the company responsible for the Dow Jones Sustainability Index, as one of the best sustainably managed food companies in the world, which enabled its inclusion in the 2020 Sustainability Yearbook, in eighth place.
The International Labor Organization (ILO) recognizes Colombina’s work on Convention 100
“Colombina once again demonstrates its vocation for social dialogue and the promotion of equal treatment and employment opportunities, whose management is a model not only for the country, but for our world for its founding values that are at the base of its sustainability.”Ms. Carmen Benitez Gambirazio on behalf of ACTRAV-ILO
This recognition was based on the fact that Colombina is the first private sector organization in Latin America to implement the pay equity model proposed by the ILO.
Colibrí Dorado Award for the Biscuit Factory
The Corporación Autónoma Regional del Cauca (CRC) and ANDI Regional Cauca awarded the Colibrí Dorado distinction to the Colombina del Cauca Cookies and Crackers Plant in the Business category, for its Zero Waste Management System implementation project, where the panel was able to observe the results of this initiative in the environmental, social and economic dimensions, based on the recycling of solid waste, contributing to the generation of jobs and the reduced use of sanitary landfills.
Colombina: The first food company to achieve the Gold Seal of Equal Employment Opportunity
The Seal of Equal Employment Opportunity is a management system certification program in gender equality, granted by the Ministry of Labor and the Presidential Counselor’s Office for Women’s Equality, with the technical support of the United Nations Development Program (UNDP). This certification highlights the company’s commitment to gender equality and the establishment of corporate policies to break the gender gap.
Ordinary bond issue
In 2019, an improved financial structure was achieved through the issuance of ordinary bonds in the amount of COP 300,000 million, successfully placed in the market, since offers were received for COP 442,371 million and at highly competitive rates. The funds received were used in their entirety to replace borrowings, achieving an adequate balance of the debt between the short and long term and significant savings on financial expenses.
The Bond Issue and Placement Program was rated AA+(col) by Fitch Ratings.
Fabio Echeverri Correa Award
Mr. César Caicedo, CEO of Colombina, was awarded the Fabio Echeverri Correa the Asocajas Award in its first edition, for helping with the strengthening and growth of the country’s economy, the closing of gaps and social development, thus contributing to making Colombia more competitive, equitable and inclusive.