Almacenes Exito Sa · BVC:EXITO
Almacenes Exito Sa — Q2 2025 Earnings Presentation
39 slides from Almacenes Exito Sa's earnings presentation, Aug 13, 2025
Slide 1: Grupo Éxito Financial Results 2Q/1H25
Grupo Éxito Financial Results 2Q/1H25 August 14, 2025 “ The Issuers Recognition - IR granted by the Colombian Stock Exchange is not a certification about the quality of the securities listed at the BVC nor the solvency of the issuer”.
Slide 2: Note on forward looking statements
2 Note on forward looking statements • T h i s d o c u m e n t c o n t a i n s c e r t a i n f o r w a r d - l o o k i n g s t a t e m e n t s b a s e d o n d a t a , a s s u m p t i o n s , a n d e s ti m a t e s , t h a t t h e C o m p a n y b e l i e v e s a r e r e a s o n a b l e ; h o w e v e
Slide 3: Agenda
Agenda CEO, Mr. Carlos ▪ Words from our Calleja ▪ Closed process of ADS and BDRs ▪ 2Q/1H25 Operating and Financial Highlights ▪ Performance by country ▪ Conclusions and Q&A session 3
Slide 4: Words from our CEO Mr. Carlos Calleja
Words from our CEO Mr. Carlos Calleja
Slide 5: Closed process of ADS and BDRs
Closed process of ADS and BDRs
Slide 6: Milestone achieved: Float consolidated in Colombia
Milestone achieved: Float consolidated in Colombia 6 Grupo Calleja 86.8% Today: Float 13.2% Vs 2.6% before delisting process Increased liquidity and local market visibility More accurate local pricing Shareholding structure remains solid and simplified Next step: – Deregister confirmed by CVM – Dere
Slide 7: 2Q/1H25 Operating and Financial Highlights
2Q/1H25 Operating and Financial Highlights
Slide 8: 2Q25 Operating Performance
2Q25 Colombia +6.8% Revenue Growth +5.8% Revenue Growth 1 592 Stores +36 LTM store from openings, conversions and remodelings 483 Stores Operating Performance Consistent growth of top line allowed double - digit growth of EBITDA Argentina 89 Stores Notes: SSS refers to same - store - sales levels, i
Slide 9: Consolidated highlights
Notes: (1) Consolidated results from Colombia, Uruguay and Argentina, eliminations and the FX effect of - 3.0% at Net Revenue and - 0.4% at Recurring EBITDA during 2Q25 and - 2.1% and - 0.9% respectively during 1H25. (2) Recurring EBITDA refers to Earnings Before Interest, Taxes, Depreciation, and A
Slide 10: Performance by country
Performance by country
Slide 11: Financial growth model
Financial growth model Consolidated Net Result consistent improvement due to strong and solid strategies across the region 11 Note: Basic points refers to variation of margins over net revenues versus same period last year Net Revenue Gross Profit Expenses Recurring EBITDA Financial Cost Net Result
Slide 12: Net Revenue Growth Drivers
Net Revenue Growth Drivers Top line grew by +5.8% excl. FX mainly boosted by Colombia performance 89% of the contribution came from Colombia, following by Uruguay and Argentina with the remaining 11% Notes: Figures in trillion COP 12 5.07 - 0.15 4.92 0.14 0.11 0.01 0.04 - 0.01 5.21 2Q24 FX Effect 2Q
Slide 13: Strategic focus in Colombia
Strategic focus in Colombia Notable results in sales confirming the strategic focus on strengthening our actual store portfolio 13 Notes: SSS in local currency, include the effect of conversions and exclude the calendar effect of - 0.76% in 2Q25 and - 0.34% in 1H25 (1) The segment includes Retail Sa
Slide 14: Complementary business
Complementary business Note: (1) Excluding retail premises GLA (2) Viva Malls is a JV with Fondo Inmobiliario Colombia (FIC) in which Grupo Éxito has 51% stake and consolidates the business. 14 Viva Malls 2 in 2Q25: • Net revenue growth +13.7% • Recurring EBITDA margin at 78.6% (+257 bps vs 2Q24) Co
Slide 15: Consistent expenses reduction QoQ
Consistent expenses reduction QoQ and mitigating the inflationary pressures Efficiencies for COP $191 Bn during 1H25 ▪ Enhanced Margin driven by cost reduction strategies ▪ Logistics efficiencies ▪ Shrinkage levels reduction ▪ Corporate structure simplification ▪ Energy efficiency measures ▪ IT cost
Slide 16: Colombia result
Colombia result Double - digit growth of Recurring EBITDA +50.8% vs 2Q24 Highlights 2Q25 +8.2% SSS sales +7.5% Fresh category growth +14.6% Big tickets items growth o Sales: consistent growth allowed +6.9%, due to success commercial strategy o GP : margin gains (+ 59 bps in 2 Q 25 ) reflected cost e
Slide 17: Strategic focus in Uruguay
Strategic focus in Uruguay Consistent performance as the most profitable operation of the Group Note: (1) figures in local currency ( Net Sales COP $1.0 T +4.1% 1 vs 2Q24) Share on Net Sales +5.0% 1 Food category - 2.7% 1 Non - Food category 2Q25 46% 36% 15% “Salón del vino” 24 th edition grew +15%
Slide 18: Uruguay result
Uruguay result Solid growth with healthy margins during 2Q25 allowed an extraordinary 1H25 +5.1% SSS sales 2 +6.0% FM Sales Growth 2 3.2% Omnichannel share o Revenues : consistent mid single digit growth in local currency o GP : Revenue growth allowed cost dilution, while tighter shrinkage control d
Slide 19: Strategic focus in Argentina
+ Strategic focus in Argentina Focused on a leaner retail operation and preserve the Real Estate contribution Real Estate Business 7 Strategic stores intervened aiming to increase sales per sqm and optimizing retail premises area during 1H25 4 underperforming stores closed in 2Q25 of mini - wholesal
Slide 20: Argentina result
Argentina result Lower sales partially compensated by the RE performance and double - digit expenses decrease - 5.7% SSS sales 2 +67.2% Real Estate Growth. 2 o Revenues : Real estate grew above inflation in local currency for 2 Q 25 and partially compensated lower sales trend . o GP: Decreased due t
Slide 21: Consolidated result
% var exc. FX 2Q24 % Var 2Q25 in COP T 5.8% 5.07 2.6% 5.21 Net Revenue 6.8% 1.30 2.8% 1.34 Gross profit 25.6% 4 bps 25.6% Gross Margin (2.7%) (1.14) (7.1%) (1.06) Total Expense (22.4%) 212 bps (20.3%) Expense/Net Rev NA (0.02) NA 0.15 Net Result (0.4%) 319 bps 2.8% Net Margin 32.8% 0.34 32.3% 0.45 R
Slide 22: Net Financial Debt at Holding Level Stable
Net Financial Debt at Holding Level 1 Stable Net financial Debt and gross debt reduction at holding level Net Financial debt key drivers: o Net Debt / EBITDA ratio of 0 . 9 x reflects strong operational improvement and efficient cash generation during the second quarter of 2025 . o Financial efficie
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Slide 24: Conclusions
Solid performance in Colombia , with strong top - line growth, significant EBITDA expansion, and improved profitability driven by commercial focus, cost efficiencies, and real estate and other businesses contributions . We are building a solid path to profitability in the Colombian retail business.
Slide 25: Appendices
Appendices
Slide 26: Notes and Glossary
Notes and Glossary Notes: • Numbers are expressed in short scale, COP billion represent 1,000,000,000. • Growth and variations are expressed in comparison to the same period last year, except when stated otherwise. • Sums and percentages may reflect discrepancies due to rounding of figures. • All ma
Slide 27: Ownership Structure
Ownership Structure Note: Ownership structure as of June 30, 2025. 27
Slide 28: Management Team
Management Team Carlos Mario Giraldo General Manager Colombia Jean Christophe Tijeras General Manager Uruguay Ramón Quagliata General Manager Argentina Juan Carlos Calleja CEO Grupo Éxito 28
Slide 29: ESG initiatives to generate value
Zero Malnutrition • 36,378 children benefited in nutrition and complementary programs. • 56,677 food package donated to children and their family. • Through our " VivirPlenamente" mental health program, we provided 1,383 consultations to 319 patients. • We are present in 32 departments and 83 munici
Slide 30: Consolidated Income Statement
Consolidated Income Statement Note : Consolidated data include results from Colombia, Uruguay and Argentina, eliminations, and the FX e ect of - 3 . 0 % at Net Revenue and - 0 . 4 % at Recurring EBITDA during 2 Q 25 . Also, the FX e ect of - 2 . 1 % at Net Revenue and - 0 . 9 % at Recurring EBITDA d
Slide 31: Income Statement and CapEx by Country
Income Statement and CapEx by Country Notes: Consolidated data include results from Colombia, Uruguay and Argentina, eliminations, and the FX e ect of - 3.0% at Net Revenue and - 0.4% at Recurring EBITDA during 2Q25, - 2.1% and - 0.9%, respectively during 1H25. Recurring EBITDA refers to Earnings Be
Slide 32: Consolidated Balance Sheet
Var % Dec 2024 Jun 2025 in COP M (5.7%) 9,539,043 8,991,415 Liabilities (5.2%) 7,197,560 6,823,577 Current liabilities (10.9%) 4,408,479 3,927,911 Trade payables (4.0%) 299,456 287,579 Lease liabilities 8.6% 1,984,727 2,155,287 Borrowing - short term 107.8% 60,481 125,689 Other financial liabilities
Slide 33: Consolidated Cash Flow
Var % Jun 2024 Jun 2025 in COP M 1122.2% 27,224 332,733 Profit 29.7% 631,118 818,567 Operating income before changes in working capital 158.3% (544,532) 317,521 Cash Net (used in) Operating Activities (68.9%) (226,680) (70,583) Cash Net (used in) Investment Activities (151.5%) 526,868 (271,190) Cash
Slide 34: Colombia Income Statement
% Var 1H24 1H25 % Var 2Q24 2Q25 in COP M 4.8% 7,213,231 7,561,764 6.9% 3,504,742 3,746,757 Retail Sales (13.6%) 223,019 192,627 (5.8%) 96,918 91,256 Other Revenue 4.3% 7,436,250 7,754,391 6.6% 3,601,660 3,838,013 Net Revenue 4.1% (5,908,441) (6,148,768) 6.0% (2,859,153) (3,029,667) Cost of Sales 2.8
Slide 35: Colombia Balance Sheet
Var % Dec 2024 Jun 2025 in COP M 0.1% 13,904,222 13,923,422 Assets 0.7% 3,971,573 3,999,420 Current assets (7.9%) 856,675 789,155 Cash & Cash Equivalents 1.8% 2,230,260 2,269,565 Inventories (21.5%) 314,528 246,842 Accounts receivable 19.9% 495,669 594,369 Assets for taxes 33.6% 74,441 99,489 Others
Slide 36: Debt by country and maturity
Debt by country and maturity Note : The Colombia perimeter includes the consolidation of Almacenes Éxito S . A . and its subsidiaries in the country . 1 ) Debt without contingent warranties and le ers of credits . ( 2 ) Holding gross debt issued 100 % in Colombian Pesos with an interest rate below I
Slide 37: Store number and Retail Sales area
Store number and Retail Sales area Note: The store count does not include the 1,962 allies in Colombia. 37 Uruguay 37,510 55 Devoto 35,350 31 Disco 15,240 2 Geant 304 1 Six or Less 88,405 89 Total Uruguay Argentina 81,842 15 Libertad 5,850 5 Mayorista 87,692 20 Total Argentina 1,008,043 592 TOTAL Ba
Slide 38: Investor Relations contact
Laura Botero Morales Investor Relations Director +57 (604) 6049696 Ext 306560 ainvestor@grupo - exito.com Cra 48 No 32 B Sur 139, Viva Envigado Medellín, Colombia www.grupoexito.com.co exitoinvestor.relations@grupo - exito.com • “The Issuers Recognition - IR granted by the Colombian Stock Exchange i
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