Almacenes Exito Sa · BVC:EXITO
Almacenes Exito Sa — Grupo Éxito — FY2022 Earnings Presentation
35 slides from Almacenes Exito Sa's earnings presentation, Feb 27, 2023
Slide 1: 4Q/FY22 Grupo Éxito Financial Results
4Q/FY22 Grupo Éxito Financial Results February 27, 2023 “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
Note on forward looking statements 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 guarantee of its future occurrence. Grupo Éxito operate
Slide 3: Agenda
Agenda • Financial and operating highlights • Performance by country • Consolidated financial results • Outcome versus outlook 2022 • Q&A session 3
Slide 4: Éxito DR´s listing
Change in structure and increased float & shareholder´s base Ownership structure: pre & post transaction Pre Casino Float Post Casino Float Éxito DR´s 41% 59% 41% 59% • A simplified governance structure listing 100% New Float (CBD) (CBD) • Non-expected operational GPA2 Empreendiment ~53% ~34% ~13% d
Slide 5: Illustrative timeline for the Transaction
Illustrative timeline for the Transaction September 5, 1 Announcement of the preliminary analysis by the Board of Directors 2022 Éxito DR´s listing 2 Transaction preparation (creditors’ validation, approvals on the December 2022 – Transaction, BDR1 and ADR2 listing, among others) First semester of 2
Slide 6: Consolidated financial & operating highlights
Consolidated financial1 & operating highlights Double-digit top line (+21.8%) and Recurring EBITDA (+8.3%, +12.6%2 adj by non-recurring RE income) growth, driven by omni-channel and innovation FY22 SSS3 Net Sales Recurrent EBITDA Dividend proposal Highlights +20.5% vs 2021 +22.7% vs 2021 +8.3%, 8.1%
Slide 7: ESG achievements FY22
ESG achievements FY22 ESG initiatives to generate value: economic growth, social development and environmental protection Zero malnutrition My planet Sustainable trade • VIVA and Carulla FreshMarket certified as • 60,046 children benefited from nutrition • 88% of fruit and vegetables purchased carbo
Slide 8: Net Sales & SSS performance in Colombia
Net Sales & SSS performance in Colombia Solid annual sales1 trend boosted by commercial dynamism, volume gains (3.0%) and omni-channel performance (+18.2%) 4Q22 12M22 Low-cost Low-cost & Other (2) & Other (2) Variations SSS (1) 10.5% 8.0% 22.3% 11.8% 17.7% 17.5% 19.4% 16.9% Total (1) 12.3% 9.8% 22.0
Slide 9: Annual performance by segment
Annual performance by segment Solid double-digit growth1 in sales and SSS driven by innovation; to highlight, the stronger levels of Surtimayorista (32.7%, and 26.8% respectively) Éxito: Carulla: Low-cost & Other2: • Sales1 +18.4%, SSS1 +17.5% • Sales1 +18.9%, SSS 1 +19.4% • Sales1 +17.8%, SSS1 +16.
Slide 10: Innovation in models & formats 2022
Innovation in models & formats 2022 Increased share on Colombia sales from innovation in models and formats (41%, +23 bps YoY) Total banner 209 107 60 46 stores Hyper, supermarkets & Supermarkets and Soft discounter stores Cash and Carry stores Formats and value convenience stores convenience stores
Slide 11: Omni-channel performance
Omni-channel1,2 performance Strong growth in sales (+18.2%) and double-digit share of food sales (10.5%) Total Sales Share on sales2 Orders 2022 MCOP $1.8 B 12% 13.3 M (+18.2% vs 2021) (vs 11.9% in 2021) (+69.6% vs 2021) Omni-channel highlights Omni-channel sales and share on sales • A low double-di
Slide 12: Asset and Traffic Monetization
Asset and Traffic Monetization Real Estate: a hidden value to the Company´s share valuation Real Estate Business1 Viva Malls2 18 assets and 568k of GLA through the investment The most important complementary business and vehicle contributor to margins In COP M 2022 2021 % Var 758k sqm of Occupancy r
Slide 13: Asset and Traffic Monetization
Asset and Traffic Monetization Boosted commercial dynamism strengthened financial retail and the loyalty coalition Financial Retail Puntos Colombia • 2.1 M cards in stock ✓ 161 allied brands (+27 • Loan portfolio of COP $4.5 B vs 2021) (+25.6% vs 2021) ✓ 6.2 M active clients1 (+14%) • Lower NPL 30 l
Slide 14: Operating Results: Colombia
Operating Results: Colombia Double-digit top line growth and annual Recurring EBITDA growth from SGA efficiencies despite inflationary pressures in COP M 4Q22 4Q21 % Var FY22 FY21 % Var Net Sales 4,279,221 3,827,521 11.8% 14,517,395 12,284,397 18.2% Other Revenue 216,468 219,648 (1.4%) 762,273 748,4
Slide 15: Operating Results: Uruguay
Operating Results: Uruguay Strong annual top line growth (+11.4%1) and operating efficiencies sustained high Recurring EBITDA levels (+30.7%, 9.9% margin) in COP M 4Q22 4Q21 % Var FY22 FY21 % Var Total LC Sales (exc. CE adjustment) Net Sales 1,148,313 744,900 54.2% 3,553,925 2,643,858 34.4% +11.4% O
Slide 16: Operating Results: Argentina
Operating Results: Argentina Boosted annual performance: top line grew 2.1x1 (sales grew 800 bps above inflation) and Recurring EBITDA 2.6x1 in COP M 4Q22 4Q21 % Var FY22 FY21 % Var Net Sales 520,647 424,655 22.6% 1,683,717 1,178,166 42.9% Total LC Sales (exc. CE adjustment) Other Revenue 18,531 16,
Slide 17: Consolidated Financial Results
Consolidated Financial Results Double-digit top line (+21.8%) and Recurring EBITDA (+8.3%, +12.6%1 adj by non-recurring RE income) growth, driven by omni-channel and innovation in COP M 4Q22 4Q21 % Var FY22 FY21 % Var EBITDA Net Sales 5,947,643 4,996,844 19.0% 19,754,076 16,105,756 22.7% 129,688 51,
Slide 18: FY22 Group Share Net Result
FY22 Group Share Net Result Positive operating performance offset by higher financial expenses, provisions of TUYA and non-cash effects such as higher deferred tax and inflationary adjustments Highlights • Positive variations of (i) retail performance and (ii) complementary businesses mainly real es
Slide 19: FY22 Debt and Cash at Holding Level
FY22 Debt and Cash at Holding1 Level Company´s strong cash flow structure allowed financing dividend payments, buyback operation and investment requirements in thousand million COP 2,022 2,021 Variation EBITDA 997 1,034 -3.6% Lease liabilities amortizations & interests (364) (340) 7.1% Operational r
Slide 20: FY22 Conclusions
FY22 Conclusions Double-digit top line (+21.8%) and Recurring EBITDA (+8.3%, +12.6%1 adj by non-recurring RE income) growth, driven by omni-channel and innovation Consolidated • Annual net sales (+22.7%) driven by innovation (40% share), omni-channel growth (18.9%) and strong evolution of real estat
Slide 21: 2022 Outlook vs. Outcome
2022 Outlook vs. Outcome Expected targets disclosed to the market fully achieved Outlook 2022 Outcome 2022 . Top line growth benefited by innovation, omni-channel and complementary . Target achieved: top line grew 17.2% boosted by innovation (41% share) and businesses omni-channel (+18.2%). Retail s
Slide 22: Appendices
Appendices
Slide 23: Consolidated Financial Results
Consolidated Financial Results in COP M 4Q22 4Q21 % Var FY22 FY21 % Var Net Sales 5,947,643 4,996,844 19.0% 19,754,076 16,105,756 22.7% Other Revenue 249,003 245,825 1.3% 865,597 816,629 6.0% Net Revenue 6,196,646 5,242,669 18.2% 20,619,673 16,922,385 21.8% Gross Profit 1,574,532 1,395,683 12.8% 5,2
Slide 24: P&L and Capex by Country
P&L and Capex by Country Income Statement Colombia Uruguay Argentina Consol in COP M FY22 FY22 FY22 FY22 Net Sales 14,517,395 3,553,925 1,683,717 19,754,076 Other Revenue 762,273 36,598 66,998 865,597 Net Revenue 15,279,668 3,590,523 1,750,715 20,619,673 Cost of Sales (11,802,670) (2,334,992) (1,145
Slide 25: Consolidated Balance Sheet
Consolidated Balance Sheet in COP M Dec 2021 Dec 2022 Var % in COP M Dec 2021 Dec 2022 Var % Assets 16,901,179 18,183,289 7.6% Liabilities 8,872,702 9,748,843 9.9% Current assets 5,833,360 5,947,863 2.0% Current liabilities 6,518,400 7,415,394 13.8% Cash & Cash Equivalents 2,541,579 1,733,673 (31.8%
Slide 26: Consolidated Cash Flow
Consolidated Cash Flow in COP M Dec 2022 Dec 2021 Var % Profit 249,238 592,937 (58.0%) Operating income before changes in working capital 1,470,019 1,417,065 3.7% Cash Net (used in) Operating Activities 901,429 1,343,626 (32.9%) Cash Net (used in) Investment Activities (529,929) (480,185) 10.4% Cash
Slide 27: Debt by Country and Maturity
Debt by Country and Maturity Net debt breakdown by country 31 Dec 2022, (millions of COP) Holding (2) Colombia Uruguay Argentina Consolidated Short-term debt 374,564 383,780 668,047 - 1,051,827 Long-term debt 539,980 539,980 - - 539,980 Total gross debt (1) 914,544 923,760 668,047 - 1,591,807 Cash a
Slide 28: Holding P&L
Holding(1) P&L in COP M 4Q22 4Q21 % Var FY22 FY21 % Var Net Sales 4,281,967 3,828,277 11.9% 14,529,617 12,290,994 18.2% Other Revenue 121,703 138,383 (12.1%) 426,110 478,388 (10.9%) Net Revenue 4,403,670 3,966,660 11.0% 14,955,727 12,769,382 17.1% Cost of Sales (3,489,579) (3,040,326) 14.8% (11,783,
Slide 29: Holding Balance Sheet
Holding(1) Balance Sheet in COP M Dec 2021 Dec 2022 Var % in COP M Dec 2021 Dec 2022 Var % Assets 14,422,470 14,848,638 3.0% Liabilities 7,541,065 7,622,557 1.1% Current assets 4,686,474 4,432,647 (5.4%) Current liabilities 5,137,135 5,455,563 6.2% Cash & Cash Equivalents 2,063,528 1,250,398 (39.4%)
Slide 30: Store Number and Sales Area
Store Number and Sales Area Banner by country Store number Sales Area (sqm) Colombia Exito 209 623,766 Carulla 107 89,133 Surtimax 70 29,675 Super Inter 60 57,008 Surtimayorista 46 43,161 Total Colombia 492 842,744 Uruguay Devoto 62 40,544 Disco 30 35,252 Geant 2 16,411 Total Uruguay 94 92,207 Argen
Slide 31: Grupo Éxito Strategic Pillars
Grupo Éxito Strategic Pillars Leading transformation by focusing on customer and key retail trends Omni-client Our people 4. Asset / Traffic 1. Innovation 2. Omni-channel 3. Digital Transformation 5. ESG Monetization ▪ Models & Formats ▪ E-commerce ▪ Apps ▪ Loyalty Coalition ▪ Zero malnutrition ✓ Pr
Slide 32: 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, +161 allied #1 shopping brands and +6.2 M clients mall operator Multi-banner and in Colombia multi-format retail structure #3 rea
Slide 33: ESG Strategy
ESG Strategy Six pillars with clear purposes, strategic focus and contribution, aligned with Sustainable Development Goals Work towards the eradication Environmental protection Promote sustainable trade of chronic child malnutrition • Actions to manage climate practices in Colombia by 2030 change •
Slide 34: Investor Relations contacts
María Fernanda Moreno R. Teresita Alzate Head of Investor Relations Investor Relations Executive +(57) 312 796 2298 +(574) 6049696 Ext 306560 mmorenor@grupo-exito.com teresita.alzate@grupo-exito.com Éxito Calle 80, Cr 59 A No. 79 – 30 Cr 48 No. 32B Sur – 139, Av. Las Vegas Bogotá, Colombia Envigado,
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