Resumo

RIVERA-GODOY, Jorge Alberto  e  SAMBONI-CHILITO, Luis Miguel. Financial performance of the dairy production sector in Colombia (2014-2019). Entramado [online]. 2021, vol.17, n.2, pp.90-108.  Epub 22-Jan-2022. ISSN 1900-3803.  https://doi.org/10.18041/1900-3803/entramado.2.7699.

The objective of the research presented in this article is to evaluate the financial performance of the dairy production sector in Colombia in the 2014-2019 period, applying as a methodology the static and trend analysis of accounting and value management indicators that measure its growth, efficiency, efficacy effectiveness, economic value added (EVA) and market value added (MVA). It is found that this sector grows in sales, assets and net income; and achieves fluctuating returns on its equity, following the behavior of efficiency in the control of expenditures, increased by the use of positive financial leverage. However, this sector destroys EVA in three years, with a significant residual loss in 2015, which makes its MVA negative. The EVA follows the direction of the after-tax return on operating net assets, which on average is less than the cost of capital. These findings can be complemented with similar studies for homogeneous groups in age, size, legal organization and geographical area.

JEL CLASSIFICATION

GI0, M40, L66

Palavras-chave : Economic value added (EVA); market value added; financial performance; efficiency, effectiveness and efficacy financial indicators; dairy product processing sector in Colombia.

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