2017 tested our abilities to respond to the market and adapt to change. In this period of modernization and transformation undertaken three years ago, great challenges were overcome and learning was achieved, which made it possible to achieve results that exceeded what was budgeted and, once again, demonstrated the response capacity of the Military Industry to the needs of the sector. defense, mining and industrial of the country, thanks to the guiding principles to achieve the proposed objectives: austerity, teamwork
and trust.
Strategic direction and the adoption of a comprehensive management system, supported by corporate social responsibility, have introduced a process of organizational change, with the purpose of becoming a faster, more efficient and innovative company, capable of acting efficiently and adapting. to a competitive and ever-changing market environment.
Aware of this reality, organizational management focused on ensuring the sustainability of the Company with the purpose of fulfilling the constitutional mandate of developing the general policy of the National Government on matters
import, manufacture and trade of weapons and ammunition for military, personal and sports defense, explosives and complementary elements, as well as the exploitation of industrial branches in accordance with its specialty.
This is how the main results obtained by Indumil in 2017 are stated below:
Sales revenue: The consolidated net sales that make up the statement of comprehensive income as of December 31, 2017, increased by $32,402 million, going from 487,409 million in 2016 to $519,811 million in 2017, presenting an increase of 6.6%.
Net profit: The net profit corresponds to a value of $40,422 million, evidencing an increase of $13,151 million (48.2%) compared to 2016, which was $27,271 million.
Asset: The Company's assets have a value of $969,807 million, with a positive variation of 4.2% for a value of $39,142 million compared to 2016.
Passive: The Company's liabilities have a value of $405,196 million for the year 2017, this liability is mainly composed of accounts payable of $30,979, taxes of $27,269 million, short-term employee benefits
of $7,991, provisions of $17,543, advances and advances of $20,211 million, long-term liabilities amounting to $300,595 million, and other liabilities of $608 million.
Heritage: The financial statements present equity worth $564,610 million with a positive variation of $20,422 million equivalent to 3.8% in relation to 2016, generated mainly by the results of the year worth $40,422 million.
Investment projects: During 2017, investments were made in projects to improve manufacturing processes, infrastructure, research, experimentation and development, computer technology, new production lines and equipment for the mobilization of raw materials and finished products.
total of $17,362.5 million.
Employment generation: 1,395 direct jobs were generated among plant and mission officials with the purpose of fulfilling the strategic objectives formulated by the company for the period 2017.
State participation: During 2017, the Company transferred $218,722 million to the nation for taxes, contributions and collections to the Public Force, reassignments to the National Government, Comptroller General of the
Republic and Parafiscals.
Exports: Foreign sales amounted to $8,481 million in 2017, compared to the $9,284 million achieved in 2016, represented by a decrease of 8.6% compared to the previous year. More than 80 % of the sales share are found in countries such as Panama, Guyana, Suriname and Israel in explosives products for large-scale mining, as well as weapons spare parts, which are products of great interest thanks to competitive prices.
Teamwork has been essential to achieve the institutional objectives shown here. The Company has made a very strong commitment to the modernization and transformation of all its processes and the internationalization of its products, through cleaner production practices, acquisition of the latest technologies, strengthening strategic thinking and organizational culture.
It is appropriate to extend my gratitude to all workers and business associates, as well as to the members of our Board of Directors for all the support and trust they have given us to continue growing and making Indumil a company that is much more than weapons, ammunition and explosives, builder of peace and engine of national development.
General (R) Alejandro Navas Ramos.
General Manager Indumil.
