Almacenes Exito Sa · BVC:EXITO
Almacenes Exito Sa — Grupo Éxito — Investor Presentation (2024)
45 slides from Almacenes Exito Sa's investor presentation, 2024
Slide 1: Grupo Éxito Corporate Presentation 2024
Grupo Éxito Corporate Presentation 2024
Slide 2: Disclaimer
Disclaimer This document contains certain forward-looking statements based on data, assumptions, and estimates, that the Company believes are reasonable; however, it is not historical data and should not be interpreted as guarantees of its future occurrence. The words “anticipates”, “believes”, “est
Slide 3: Grupo Calleja: New controller of Grupo Éxito
Grupo Calleja: New controller of Grupo Éxito 3
Slide 4: Grupo Calleja (Cama Commercial Group) takes control over Grupo Éxito
Grupo Calleja (Cama Commercial Group) takes control over Grupo Éxito Float distribution1: BDR´s 83.3%, ADR´s 9.4% and BVC 7.3% Grupo Calleja Key Facts in El Salvador ✓ One of the largest companies in El Salvador (+11 thousand collaborators) ✓ Over 70 years of experience ✓ Leading food retailer in El
Slide 5: Ownership Structure
Ownership Structure 5 Note: Ownership structure as of March 31, 2024.
Slide 6: Update on the Corporate Strategy
Update on the Corporate Strategy 6
Slide 7: Management Team
Management Team Juan Carlos Calleja CEO Grupo Éxito Carlos Mario Giraldo Jean Christophe Tijeras Ramón Quagliata General Manager General Manager General Manager Colombia Uruguay Argentina 7
Slide 8: Long-term strategic pillars
Long-term strategic pillars Main value-creation drivers and focus Customer centric strategy Differentiated value Omnichannel experience ◼ Increase product assortment / ◼ Lead digital sale of groceries “Unbeatable” portfolio ◼ Create competitive advantages to serve ◼ Targeted offers and discounts bet
Slide 9: Initiatives to address challenges and drive performance
Initiatives to address challenges and drive performance Facts Challenges • High interest rates affecting consumer credit, TUYA and non- food performance • The most relevant operation in terms of • Still high inflation reducing household expenditure and affecting contribution to results and potential
Slide 10: Grupo Éxito: Key Facts
Grupo Éxito: Key Facts 10 10
Slide 11: Grupo Éxito: strong retail platform in South America
Grupo Éxito: strong retail platform in South America Consolidated Colombia Results1 Revenue: COP $15.8 B EBITDA margin: 7.2% Stores: 522 Share on Sales Revenue 5% COP $21.1 B (USD $4.9 B) 20% 75% Uruguay Omnichannel share2 Revenue: COP $4.2 B 10.6% EBITDA margin: 10.7% Stores: 98 Share on EBITDA Rec
Slide 12: Brand segmentation by country
Brand segmentation by country Population pyramid coverage Premium Medium Low Segmentation by country 12
Slide 13: Grupo Éxito´s ecosystem
Grupo Éxito´s ecosystem Leading retail through innovation and integration of BU´s across a comprehensive ecosystem with strong synergies #1 loyalty coalition in Colombia, +200 allied #1 shopping brands and +7 M clients mall operator Multi-banner and in Colombia multi-format retail structure #3 real
Slide 14: Management team - Colombia
Management team - Colombia Carlos Mario Giraldo José Gabriel Loaiza Ivonne Windmuller General Manager Executive VP Chief Financial Officer Colombia Jorge Jaller Sebastian Perez Juan Lucas Vega VP of Retail Colombia VP of Omnichannel and VP of Real Estate 14 Innovation
Slide 15: Colombia Operations
Para regi productos Colombia Operations
Slide 16: Current Retail segments
Current Retail segments Éxito Carulla Low Cost Brands Hypermarkets, Supermarkets Supermarkets & Formats & convenience convenience Cash and Carry Proximity Supermarkets Price/quality ratio Superior experience Focus on institutional High share of private labels Value All in one place The best fresh pr
Slide 17: Private Label
Private Label Food & non-food Unbeatable Products +1,000 18% SKUs Share on sales Brands ▪ Basic and valuable products ▪ Price check twice a week ▪ Best price position Food and non-food products +35% in sales +60 local suppliers 17 Notes: Figures as of 2023
Slide 18: Complementary Businesses: Creation and shared value
Complementary Businesses Creation and shared value # 1 Brand power according to Kantar 1.6 M cards in stock 7M active clients (+10.7% y/y) COP$ 3.3 B AAA rating Loyalty platform PCO Loan Portfolio COP$172,000 M Granted for 13 straight years by Redeemed Present in 1/3 of Colombian households • 12% sh
Slide 19: Complementary Businesses: Real Estate and Viva Malls
Complementary Businesses Creation and shared value Real Estate Business¹ Viva Malls1 ✓ 17 assets ✓ 561,000 sqm of GLA (71% share on total Real estate business GLA) ✓ 98.6% occupancy rate The most important complementary business and ◼ #1 operator of shopping centers in Colombia contributor to margin
Slide 20: Omnichannel performance
Omnichannel performance 19.3 M 12.7% +22% 2023 COP$1.9 B In Retail Sales (+10.1%) Orders (+44%) Share on Retail Food Sales Sales (11.9% share) FY Highlights Omni-channel sales and share on sales 12.7% share on sales, despite two non- 12.7% VAT days in the base and non-food (-7%) 11.9% 12.0% 12.5% 1,
Slide 21: International Operations
International Operations 21
Slide 22: International Operations: Uruguay
International Operations: Uruguay 98 stores • Country with the highest per capita income in the region - Located in the most densely populated • Macroeconomic stability areas • Operation with extensive experience in high-value supermarkets Fresh Market 30 Supermarkets 32 stores 66Supermarkets and •
Slide 23: International Operations: Argentina
International Operations: Argentina 3rd commercial centers operator Dual Strategy: Retail / Real estate 4.7% EBITDA margin 15 Hypermarkets Positive cash generation 10 Cash and Carry +2.4x omnichannel sales 36 stores 15 real estate assets 246.3% sales growth 174,000 sqm of GLA 3.6% omnichannel 94% oc
Slide 24: Sustainability Strategy
Sustainability Strategy 24
Slide 25: Sustainability Strategy: We nourish with opportunities
Sustainability Strategy We nourish with opportunities 25
Slide 26: ESG strategy
ESG strategy Six pillars with clear purposes, strategic focus and contribution, aligned with Sustainable Development Goals Work towards the eradication of Environmental protection Promote sustainable trade chronic child malnutrition in • Actions to manage climate practices Colombia by 2030 change •
Slide 27: Appendices
Appendices 27
Slide 28: Glossary and Notes
Glossary and Notes Notes: • Numbers are expressed in long scale, COP billion represent 1,000,000,000,000. • 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
Slide 29: 1Q24 Financial Information
1Q24 Financial Information 29
Slide 30: Solid food sales growth in Colombia, boosted trend in Uruguay
Solid food sales growth in Colombia, boosted trend in Uruguay from macro tailwinds and inflationary effects on Top line performance consumption in Argentina Colombia Uruguay Argentina Consolidated % var % var exc. % var in COP M 1Q24 1Q23 % Var 1Q24 1Q23 % Var 1Q24 1Q23 % Var 1Q24 1Q23 % Var exc. FX
Slide 31: Recurring EBITDA outcome reflected higher expenses in international operations
Recurring EBITDA outcome reflected higher expenses in Operating performance international operations and non-recurring effects on the base in Colombia Colombia Uruguay Argentina Consolidated % var % var % var in COP M 1Q24 1Q23 % Var 1Q24 1Q23 % Var 1Q24 1Q23 % Var 1Q24 1Q23 % Var exc. FX exc. FX ex
Slide 32: Net Group Share Result
Net loss reflected consumption deceleration, inflationary Net Group Share Result pressures and FX impacts Variations of Net Result Highlights • 1Q24 Net loss of COP $37,863 reflected: o Operating performance affected by lagged consumption and inflationary pressures on SG&A o Higher non-recurring exp
Slide 33: 1Q24 Leverage and Cash at holding level
Free cash flow reached COP$406,000 M driven by 1Q24 Leverage and Cash improved management of working capital at holding level 1 Leverage and cash highlights 1.0 0.5 Cash (& other assets) • Free cash flow generation of 254% y/y, COP Gross debt (financial liabilities $291,000 M & warranties) -0.78 Net
Slide 34: 1Q24 Financial & Operating Conclusions
Consolidated Net Revenue grew 7.9% when excluding the 1Q24 Financial & Operating FX effect, despite consumer headwinds across the region Conclusions • A resilient top line performance by country in local currencies despite the slowdown in consumption across the region and a higher base of real estat
Slide 35: Initiatives to address challenges and drive performance
Initiatives to address challenges and drive performance Long-term strategy going forward • Change of control over to Grupo Calleja. • A clear strategy going forward to face main challenges: ➢ Strengthening the commercial strategy to boost top line growth and improve sales/sqm mainly in Colombia ➢ Fo
Slide 36: Consolidated Income Statement
Consolidated Income Statement in COP M 1Q24 1Q23 % Var Retail Sales 5,036,104 5,237,232 (3.8%) Other Revenue 239,035 218,922 9.2% Net Revenue 5,275,139 5,456,154 (3.3% ) Cost of Sales (3,927,350) (3,996,736) (1.7%) Cost D&A (25,836) (26,499) (2.5%) Gross Profit 1,321,953 1,432,919 (7.7% ) Gross Marg
Slide 37: Income Statement and CapEx by Country
Income Statement and CapEx by Country Income Statement Colombia Uruguay Argentina Consol in COP M 1Q24 1Q24 1Q24 1Q24 Retail Sales 3,703,345 1,037,043 295,716 5,036,104 Other Revenue 220,713 8,512 9,810 239,035 Net Revenue 3,924,058 1,045,555 305,526 5,275,139 Cost of Sales (3,055,709) (665,068) (20
Slide 38: Consolidated Balance Sheet
Consolidated Balance Sheet in COP M Mar 2024 Dec 2023 Var % in COP M Mar 2024 Dec 2023 Var % Assets 17,291,241 16,339,761 5.8% Liabilities 9,597,226 8,917,952 7.6% Current assets 5,359,656 5,283,091 1.4% Current liabilities 7,358,067 7,144,623 3.0% Cash & Cash Equivalents 1,410,742 1,508,205 (6.5%)
Slide 39: Consolidated Cash Flow
Consolidated Cash Flow in COP M Mar 2024 Mar 2023 Var % Profit (7,980) 79,063 (110.1% ) Operating income before changes in working capital 286,975 384,260 (25.3%) Cash Net (used in) Operating Activities (749,879) (844,472) (11.2%) Cash Net (used in) Investment Activities (146,892) (166,114) (11.6%)
Slide 40: Holding Income Statement
Holding Income Statement1 in COP M 1Q24 1Q23 % Var Retail Sales 3,708,489 3,632,332 2.1% Other Revenue 126,101 105,972 19.0% Net Revenue 3,834,590 3,738,304 2.6% Cost of Sales (3,049,288) (2,927,962) 4.1% Cost D&A (23,648) (22,556) 4.8% Gross profit 761,654 787,786 (3.3% ) Gross Margin 19.9% 21.1% (
Slide 41: Holding Balance Sheet
Holding Balance Sheet1 in COP M Mar 2024 Dec 2023 Var % in COP M Mar 2024 Dec 2023 Var % Assets 14,102,080 13,580,684 3.8% Liabilities 7,726,873 7,480,007 3.3% Current assets 4,115,414 4,015,527 2.5% Current liabilities 5,941,948 5,692,731 4.4% Cash & Cash Equivalents 1,024,349 980,624 4.5% Trade pa
Slide 42: Debt by country and maturity
Debt by country and maturity Net debt breakdown by country 31 Mar 2024, (millions of COP) Holding (2) Colombia Uruguay Argentina Consolidated Short-term debt 1,867,950 1,713,747 471,697 4,047 2,189,491 Long-term debt 206,367 206,367 - - 206,367 Total gross debt (1) (2) 2,074,317 1,920,114 471,697 4,
Slide 43: Store number and Retail Sales area
Store number and Retail Sales area Banner by country Store number Sales area (sqm) Colombia Exito 204 616,655 Carulla 112 87,509 Surtimax 78 30,923 Super Inter 56 54,015 Surtimayorista 63 54,877 Total Colombia 513 843,979 Uruguay Devoto 67 41,981 Disco 30 35,934 Geant 2 16,411 Total Uruguay 99 94,32
Slide 44: Investor Relations contact
María Fernanda Moreno R. Grupo Éxito HQ Head of Investor Relations www.grupoexito.com.co +(57) 312 796 2298 +(574) 6049696 Ext 306560 mmorenor@grupo-exito.com exitoinvestor.relations@grupo-exito.com Éxito Calle 80, Cr 59 A No. 79 – 30 Cr 48 No. 32B Sur – 139, Av. Las Vegas Bogotá, Colombia Envigado,
Slide 45: Slide 45