Almacenes Exito Sa · BVC:EXITO
Almacenes Exito Sa — Grupo Éxito — Investor Presentation (November 2020)
74 slides from Almacenes Exito Sa's investor presentation, November 2020
Slide 1: Corporate Presentation As of 3Q20
Corporate Presentation As of 3Q20 “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 Please note that 3Q19 and 9M19 consolidated results included the Brazilian segment (Companhia Brasileira de Distribuição – CBD, Segisor S.A.S. and Wilkes Partipações S.A., sold on November 27, 2019; and Via Varejo S.A. sold on June, 2019) and subsidiary Gemex O&W S
Slide 3: Content
Content • Grupo Éxito Overview …………………………………………………… 5 • Strategic Pillars 2019 – 2022 ………………………………..………….. 10 • Key Facts by Country: Resultados 2018 o Colombia ………………………………………………………........ 18 o Uruguay ……………………………………………………………... 27 o Argentina …………………………………………………………..... 28 o 2020 Outlook………………………
Slide 4: Grupo Éxito: A History of Innovation
Grupo Éxito: A History of Innovation Grupo Éxito is one of the largest multinationals in Colombia and a relevant food retailer in South America, with operations in Colombia, Uruguay and Argentina. The Company has clear competitive advantages derived from its strength in innovation, bricks and mortar
Slide 5: Company Overview
grupo Company Overview
Slide 6: Track Record of Successful Integrations
Track Record of Successful Integrations Puntos Colombia Acquisition of Alliance with 70th Éxito´s anniversary Acquisition of Start of a new phase: Control in Digital Transformation in alliance with Bancolombia Exito sold the stake in Acquisition of GPA to Casino Group Became the biggest retailer Mar
Slide 7: Grupo Exito Overview – FY19
Grupo Exito Overview – FY19 ▪ Leads modern retail segments: #1 in Colombia and Uruguay ▪ Consolidated Net Revenues of COP $15.3 billion in 2019 ▪ Solid omni-channel strategy ▪ 653 stores across the region ▪ Multi-format and multi-brand proposal ▪ More than 1 million square meters of sales area Colom
Slide 8: Comprehensive Coverage of Customers and Markets
Comprehensive Coverage of Customers and Markets Brands and formats covering all segments of the population Colombia Uruguay Argentina High End 6 5 4 3 2 1 Low End 8
Slide 9: Grupo Éxito – New Perimeter of Consolidation
Grupo Éxito – New Perimeter of Consolidation Colombia, Uruguay and Argentina A strategy focused on innovation, omnichannel and digital transformation Data FY19 Consolidated Total Sales 11,029,843 2,554,885 925,062 14,503,846 (M COP) Recurring EBITDA 1,007,467 238,064 34,172 1,279,782 margin 8.6% 9.2
Slide 10: Strategic Pillars
grupo Strategic Pillars
Slide 11: Grupo Éxito Strategic Pillars 2019 - 2022
Grupo Éxito Strategic Pillars 2019 - 2022 Leading transformation focusing on customer and retail trends Customer first Our people 3. Digital 4. Best Practices & 5. Sustainable Shared 1. Innovation 2. Omni-channel Transformation Integration Value ▪ Models ▪ E-commerce ▪ Apps ▪ Asset Monetization ▪ Ge
Slide 12: Strategy Outcome FY19 – Innovation
Strategy Outcome FY19 – Innovation Models, formats & brands Llanogrande Carulla Éxito WOW Fresh Market Models ✓ 9 stores ✓ 13 stores ✓ 17.5% of banner´s sales ✓ 17% of banner’s sales ✓ Mid-teens sales growth ✓ Low double-digit sales growth Cash & Carry Formats ✓ 30 stores ✓ High double-digit sales g
Slide 13: Strategy Outcome FY19 – Omni-channel
Strategy Outcome FY19 – Omni-channel Growth leverage activities in Colombia +37% sales Sales share 4.5% 4.3 million deliveries A solid platform in Colombia COP 502,000 M (+ 110 bps vs FY18) (+56% vs FY18) Ecommerce ✓ +17.0% sales growth FY19 ✓ +40.4% growth in visits Marketplace ✓ +29.4% GMV(1) grow
Slide 14: Strategy Outcome FY19 – Digital Transformation
Strategy Outcome FY19 – Digital Transformation Key ongoing activities to adapt to changes in consumer trends Apps Activities Frictionless Customer Service Chatbot Social Marketing Éxito and Carulla Mobile POS Self check-out Social Wi-fi Kiosks 1.9 million Downloads Data Analytics 56,000 orders recei
Slide 15: Strategy Outcome FY19 – Best Practices and Integration
Strategy Outcome FY19 – Best Practices and Integration Key ongoing activities to adapt to changes in consumer trends Asset Monetization Traffic Monetization Operational Excellence Real Estate Loyalty Programs Logistics & Supply Chain Colombia Colombia Platform Click & Dark ✓ The largest system of po
Slide 16: Strategy Outcome FY19 – Sustainable Shared Value
Strategy Outcome FY19 – Sustainable Shared Value Grupo Éxito Strategic Pillars 2020 - 2022 Gen Cero Strategy Sustainable Trade My Planet ✓ Focus on childhood nutrition ✓ 82% direct local purchasing ✓ Contribution to protect the environment ✓ More than 64K children under ✓ 92% of the fruits and veget
Slide 17: Key Facts by Country
grupo Key Facts by Country
Slide 18: FY19 Colombia: Formats & Banners
FY19 Colombia: Formats & Banners Growth leverage activities in Colombia Hyper, Supermarkets & Cash & Carry stores Convenience stores ✓ Launched in 2016 ✓ Value for Money ✓ B2B and B2C ✓ Customer Service ✓ Low prices ✓ Food and non-food ✓ ~ 4% share on Colombia sales ✓ ~ 70% share on Colombia sales ✓
Slide 19: FY19 Colombia: Complementary Businesses
FY19 Colombia: Complementary Businesses A solid portfolio ~ 30% of Alliances with Strengthening the of other services Colombia ROI top partners retail offering Financial Retail Real Estate Virtual Mobile ✓ 2.7 M cards ✓ Total GLA(1) :755k sqm issued on the ✓ Over 500K market active lines ✓ VIVA: Veh
Slide 20: FY19 Colombia: Innovation in Models & Formats
FY19 Colombia: Innovation in Models & Formats Éxito Wow 9 stores Fresh Products area Co-working Zone Pet World Sales +13.4% 17.5% of banner sales share Digital and Gamming universe Derma-cosmetics zone Omni-channel Integration 20 Data as of 2019.
Slide 21: FY19 Colombia: Innovation in Models & Formats
FY19 Colombia: Innovation in Models & Formats Carulla Fresh Market 13 stores Sales +12.7% 17.0% of banner sales share 21 Data as of 2019. (1) Including 1 Carulla SmartMarket.
Slide 22: FY19 Colombia: Innovation in Models & Formats
FY19 Colombia: Innovation in Models & Formats Surtimayorista Cash and Carry 30 stores Sales +17.8% 4.0% of Colombia´s sales share 22 Data as of 2019. (1) Including 1 Carulla SmartMarket.
Slide 23: FY19 Colombia: Omni-channel Strategy
FY19 Colombia: Omni-channel Strategy Reached 4.5% of sales penetration vs 3.4% in 2018 A solid platform in Colombia +37% sales Sales share 4.5% 4.3 million deliveries COP 502,000 M (+ 110 bps vs FY18) (+56% vs FY18) Ecommerce ✓ +17.0% sales growth FY19 ✓ +40.4% growth in visits Marketplace ✓ +29.4%
Slide 24: FY19 Colombia: Digital Transformation
FY19 Colombia: Digital Transformation Taking the store to customers’ pocket with customized discounts 1.9 million Downloads 56,000 orders received 29% customers growth Wine recommender developed internally using machine learning 24 Data as of 2019.
Slide 25: FY19 Colombia: Asset & Traffic Monetization
FY19 Colombia: Asset & Traffic Monetization Strong contributors to margin expansion Real Estate Business Puntos Colombia Grupo Éxito Viva Malls The largest loyalty ecosystem ✓ Revenues grew by ✓ 18 assets 47.0% in 2019 ✓ Total GLA(1)(2) of 568k sqm ✓ Total GLA(1) (2) = 755k ✓ Commercial value of COP
Slide 26: FY19 Colombia: Innovation in Models & Formats
FY19 Colombia: Innovation in Models & Formats Key drivers for the Company’s growth and SSS protection Contribution per model to yearly sales growth ▪ Éxito: ✓ The best performing segment during 2019 ▪ Carulla: ✓ Launch of pilot “Carulla SmartMarket” in Bogotá in 4Q19 ▪ Low-cost(1): Innovation and om
Slide 27: FY19 Uruguay: Formats & Brands
FY19 Uruguay: Formats & Brands A profitable operation driven by a differentiated value proposal 29 stores 60 stores 2 stores Supermarkets & Hypermarkets Supermarkets proximity stores Omni-channel strategy ✓ Leaders in proximity with Devoto Express stores. ✓ devoto.com and geant.com ✓ Pioneering the
Slide 28: FY19 Argentina: Formats & Brands
FY19 Argentina: Formats & Brands ✓ Libertad stores present in 9 states in the country. 15 stores ✓ First shopping center operator outside Buenos Aires with ~170K sqm of GLA. Hypermarkets ✓ Dual retail-real estate model. ✓ Expansion in convenience. Mini 10 stores ✓ Roll-out of Éxito´s textile model a
Slide 29: 2020 Outlook
2020 Outlook LatAm Platform • Sharing best practices with focus on innovation and strengthening of digital transformation activities. Colombia • Retail expansion from 20 to 24 stores (from openings, conversions and remodelling), including 6 to 7 Éxito WOW, 6 to 7 Carulla FreshMarket and 8 to 10 Surt
Slide 30: Ownership, Management and Shareholder Structures
Ownership, Management and Shareholder Structures 30
Slide 31: Ownership Structure
Ownership Structure International ownership structure consolidates best in class LATAM retail platform 41,2 % 100 % Sendas Distribuidora S.A 96,57% 100% 100% 62.5%* * Grupo Éxito consolidates Grupo Disco since January 1 st, 2015 31 Information as of Dec 31, 2019.
Slide 32: Management Structure
Management Structure Colombia Uruguay CEO Grupo Éxito General Manager Carlos Mario Giraldo Luis E. Cardoso Devoto COO Guillermo Destefanis Jacky Yanovich M CFO Ruy Souza International Argentina Businesses & Shared Services VP Director General José Gabriel Loaiza General Manager Tijeras Jean Christop
Slide 33: Grupo Éxito Shareholders´ Structure
Grupo Éxito Shareholders´ Structure Total Total shareholders shareholders asasof of December December 31,31, 2019: 2019: 4.827 4.827 Total shareholders as of Sep 30, 2020: 5.178 *No *No governmental governmental Institutions Institutions ownown more morethan than 5%5%of of thethe *No governmental In
Slide 34: Appendixes
grupo Appendixes
Slide 35: Financial Results 3Q20
grupo Financial Results 3Q20
Slide 36: 3Q20 Consolidated Financial & Operating Highlights
3Q20 Consolidated Financial(1) & Operating Highlights Retail continued benefited by innovation and strong omnichannel performance SSS Net Income growth Omnichannel growth 3Q20 Highlights +2.3% (exc. FX & CE) 4.7x (3.0x Consol) Corporate Governance Financial Highlights Operating Highlights Investment
Slide 37: 3Q/9M20 Consolidated Financial Results
3Q/9M20 Consolidated Financial Results Net income grew by 4.7x from a leaner structure in COP M 3Q20 3Q19 % Var 9M20 9M19 % Var Recurring EBITDA Bridge(1) Net Revenue 3,649,939 3,624,469 0.7% 11,390,826 10,968,555 3.8% Gross Profit 901,871 917,706 (1.7% ) 2,814,868 2,769,795 1.6% Gross Margin 24.7%
Slide 38: 3Q/9M20 Operating Results: Colombia
3Q/9M20 Operating Results: Colombia Operating performance (+110 bps) offset by COVID-19 effect on TUYA and real estate in COP M 3Q20 3Q19 % Var 9M20 9M19 % Var Recurring EBITDA Bridge(1) Net Sales 2,665,349 2,673,127 (0.3%) 8,312,024 7,922,962 4.9% Other Revenue 122,829 184,834 (33.5%) 381,177 497,7
Slide 39: 3Q/9M20 Net Sales & SSS Performance: Colombia
3Q/9M20 Net Sales(1) & SSS(1) Performance: Colombia Omnichannel and innovative model's performance offset by the impact of mobility restrictions 3Q20 9M20 SM & B2B & SM & B2B & SI (2) Other (3) SI (2) Other (3) Variations SSS -0.4% -0.2% 9.9% -7.1% -19.0% 4.9% 3.7% 14.9% 3.8% -4.9% Total -0.3% -0.6%
Slide 40: 3Q20 Net Sales & SSS Performance by Segment: Colombia
3Q20 Net Sales(1) & SSS(1) Performance by Segment: Colombia Premium banner Carulla led sales growth boosted by the omni-channel strategy Éxito: ▪ Éxito WOW grew sales above other Éxito stores by 14.9 p.p. ▪ Electronics grew by low double-digit (+649 bps on sales share vs. 3Q19) ▪ Outcome affected by
Slide 41: 3Q20 Omni-channel Strategy: Colombia
3Q20 Omni-channel Strategy: Colombia The strongest quarterly sales growth (3.5x) and record of sales levels YTD (over 1 billion COP) Total Sales Share on sales Deliveries 3Q20 Highlights COP $490,624 M (+3.5x) 18.2% 2.6 M (2x) Strong omnichannel food sales (COP $231K M, +3.1x) and non-food (COP$260K
Slide 42: Apps complementing on-line initiatives: Colombia
Apps complementing on-line initiatives: Colombia +420 K downloads in 3Q20, a new version launched for Éxito improved historical trends Re-launch of the Éxito app ✓ Improved usage and integration with Puntos Colombia and TUYA ✓ Personalized lists and discounts Increased relevance of the food category
Slide 43: 3Q20 Business Strategy: Colombia
3Q20 Business Strategy: Colombia Omni-channel strategy as differentiator to face changing market conditions 4.3% 3.2% 0.9% 0.8% -0.7% -3.8% -0.8% -1.5% -0.9% 12.1% -10.0% -0.3% -0.3% 2,673 2,673 2,698 2,703 2,703 2,687 2,665 2,665 3Q19 Éxito Wow Carulla FM SMY E-commerce Restrictions Others 3Q20 P
Slide 44: 3Q/9M20 Operating Results: Uruguay
3Q/9M20 Operating Results: Uruguay Top line growth and expense control favoured Recurring EBITDA margin gains (+88 bps) in COP M 3Q20 3Q19 % Var 9M20 9M19 % Var Net Sales 622,176 598,234 4.0% 1,967,844 1,855,857 6.0% Other Revenue 6,303 6,638 (5.0%) 18,646 17,419 7.0% Net Revenue 628,479 604,872 3.9
Slide 45: 3Q/9M20 Operating Results: Argentina
3Q/9M20 Operating Results: Argentina Positive EBITDA and favourable cash position to face the challenging context in COP M 3Q20 3Q19 % Var 9M20 9M19 % Var Recurring EBITDA Bridge (3) Net Sales 222,414 156,616 42.0% 690,015 648,187 6.5% Other Revenue 13,267 9,002 47.4% 23,784 32,389 (26.6%) Net Reven
Slide 46: 3Q20 Conclusions
3Q20 Conclusions LatAm platform ▪ Focus on profitable expansion in omnichannel and innovative models, have allowed SSS expansion YTD amidst mobility restrictions and macro headwinds across the region. ▪ Expenses growing below inflation across operations and below sales growth in Colombia, Uruguay an
Slide 47: 3Q/9M20 Consolidated Financial Results
3Q/9M20 Consolidated Financial Results Consolidated figures in COP M 3Q20 3Q19 % Var 9M20 9M19 % Var Net Sales 3,507,629 3,424,872 2.4% 10,967,573 10,423,901 5.2% Other Revenue 142,310 199,597 (28.7%) 423,253 544,654 (22.3%) Net Revenue 3,649,939 3,624,469 0.7% 11,390,826 10,968,555 3.8% Cost of Sal
Slide 48: 3Q20 P&L and Capex by Country
3Q20 P&L and Capex by Country Income Statement Colombia Uruguay Argentina Consol in COP M 3Q20 3Q20 3Q20 3Q20 Net Sales 2,665,349 622,176 222,414 3,507,629 Other Revenue 122,829 6,303 13,267 142,310 Net Revenue 2,788,178 628,479 235,681 3,649,939 Cost of Sales (2,152,203) (418,347) (156,339) (2,724,
Slide 49: Consolidated Balance Sheet
Consolidated Balance Sheet in COP M Dec 2019 Sep 2020 Var % in COP M Dec 2019 Sep 2020 Var % Assets 15,861,015 14,764,732 (6.9% ) Liabilities 7,416,173 7,140,997 (3.7% ) Current assets 5,356,665 4,027,399 (24.8% ) Current liabilities 5,906,214 5,233,684 (11.4% ) Cash & Cash Equivalents 2,562,674 1,0
Slide 50: Consolidated Cash Flow
Consolidated Cash Flow in COP M Sep 2020 Sep 2019 Var % Profit 160,634 815,458 (80.3% ) Adjustment to reconciliate Net Income 624,390 2,599,021 (76.0%) Cash Net (used in) Operating Activities (1,229,289) (2,252,534) (45.4%) Cash Net (used in) Investment Activities (187,072) (36,108) N/A Cash net pro
Slide 51: 3Q20 Debt by Country and Maturity
3Q20 Debt by Country and Maturity Net debt breakdown by country 30 Sep 2020, (millions of COP) Holding (2) Colombia Uruguay Argentina Consolidated Short-term debt 1,078,670 1,100,681 413,283 21,614 1,535,578 Long-term debt 338,399 357,358 - 0 - 357,358 Total gross debt (1) 1,417,069 1,458,039 413,28
Slide 52: 3Q/9M20 Holding P&L
3Q/9M20 Holding(1) P&L in COP M 3Q20 3Q19 % Var 9M20 9M19 % Var Net Sales 2,666,251 2,675,083 (0.3%) 8,319,992 7,934,566 4.9% Other Revenue 80,292 116,049 (30.8%) 214,865 293,652 (26.8%) Net Revenue 2,746,543 2,791,132 (1.6% ) 8,534,857 8,228,218 3.7% Cost of Sales (2,149,690) (2,179,675) (1.4%) (6,
Slide 53: Holding Balance Sheet
Holding(1) Balance Sheet in COP M Dec 2019 Sep 2020 Var % in COP M Dec 2019 Sep 2020 Var % Assets 13,519,213 12,747,543 (5.7% ) Liabilities 6,322,685 6,423,178 1.6% Current assets 4,448,466 3,030,347 (31.9% ) Current liabilities 4,847,078 4,158,067 (14.2% ) Cash & Cash Equivalents 2,206,153 712,291
Slide 54: 3Q20 Store Number and Sales Area
3Q20 Store Number and Sales Area Banner by country Store number Sales Area (sqm) Colombia Éxito 242 620,064 Carulla 96 85,686 Surtimax 74 34,271 Super Inter 69 65,557 Surtimayorista 34 33,621 Total Colombia 515 839,199 Uruguay Devoto 59 40,127 Disco 29 33,452 Geant 2 16,411 Total Uruguay 90 89,990 A
Slide 55: Financial Results 2019
grupo Financial Results 2019
Slide 56: FY19 Financial & Operating Highlights
FY19 Financial(1) & Operating Highlights Clear top line recovery trend and improved profitability Net Revenue Recurring EBITDA Recurring EBITDA margin FY19 Highlights +2.8% (+6.3% exc. FX) +5.3% (+7.5% exc. FX) 8.4% (+20 bps vs 2018) Corporate Governance Financial Highlights Operating Highlights Inv
Slide 57: 4Q/FY19 Consolidated Financial Results
4Q/FY19 Consolidated Financial Results Operating efficiencies led to Recurring EBITDA margin gains (+20 bps in 2019) in COP M 4Q19 4Q18 % Var FY19 FY18 % Var Net Sales 4,079,945 3,846,719 6.1% 14,503,846 14,176,353 2.3% Other Revenue 244,583 200,078 22.2% 789,237 693,674 13.8% Net Revenue 4,324,528
Slide 58: FY19 Group Share Net Result
FY19 Group Share Net Result Net Income from improved operational performance (Col) and lower financial expenses 253,168 -145,486 60,162 57,602 57,809 -79,095 -50,639 -25,236 -13,081 Net Result ∆ Min ∆ Income ∆ Income ∆ Non-rec. ∆ ROI ∆ ROI ∆ Financial Net Result FY18 Interest + tax from expenses URU
Slide 59: FY19 Debt and Cash at Holding Level
FY19 Debt and Cash at Holding(1) Level The NFD/Adjusted EBITDA ratio became positive Main highlights Debt at the holding level: ▪ Gross debt reduced by COP $3.5 billion in 4Q19, after the Company fully paid the outstanding syndicated loan in USD, the revolving and the long-term tranches of the syndi
Slide 60: 4Q/FY19 Conclusions
4Q/FY19 Conclusions LatAm Platform ✓ New perimeter of consolidation includes Colombia, Uruguay and Argentina. ✓ Top line in all countries driven by innovation, digital transformation and omnichannel strategies. ✓ Recurring EBITDA margin expanded 67 bps in 4Q19 to 10.9% and 20 bps in 2019 to 8.4%, fr
Slide 61: 2019 Outlook vs. Outcome
2019 Outlook vs. Outcome Colombia Outlook 2019 Outcome 2019 . Retail expansion of 18 to 20 stores (from openings, conversions and . Surpassed target - 29 stores in 2019 from openings, conversions and remodelling: remodeling), including at least 5 Exito WOW, 5 Carulla FreshMarket and 7 Éxito Wow, 7 C
Slide 62: 2019 Outlook vs. Outcome
2019 Outlook vs. Outcome Argentina Outlook 2019 Outcome 2019 . Target achieved – the dual real estate-retail business model posted a solid . Optimize current real estate portfolio performance and grew by 31.7% growth excluding IAS 29 in 2019, despite the challenging macro conditions in the country.
Slide 63: IFRS 16 Adjustments
IFRS 16 Adjustments Consolidated figures YTD Consolidated Income Statement FY19 Adj FY19 FY18 Adj FY18 % Var % Var Post Post Pre Post in COP M Pre IFRS16 FY19 Pre IFRS16 FY18 IFRS16 IFRS16 IFRS16 IFRS16 Net Sales 14,503,846 - 14,503,846 14,176,353 - 14,176,353 2.3% 2.3% Other Revenue 789,237 - 789,2
Slide 64: IFRS 16 Adjustments
IFRS 16 Adjustments Colombia Income Statement 4Q19 Adj 4Q19 4Q18 Adj 4Q18 % Var % Var Pre Post Post in COP M 4Q19 Pre IFRS16 4Q18 Pre IFRS16 Post IFRS16 IFRS16 IFRS16 IFRS16 Net Revenue 3,330,697 - 3,330,697 3,143,254 - 3,143,254 6.0% 6.0% Gross profit 837,501 11,327 848,828 776,941 3,036 779,977 7.
Slide 65: IFRS 16 Adjustments
IFRS 16 Adjustments Uruguay Income Statement 4Q19 Adj 4Q19 4Q18 Adj 4Q18 % Var % Var Pre Post Post in COP M 4Q19 Pre IFRS16 4Q18 Pre IFRS16 Post IFRS16 IFRS16 IFRS16 IFRS16 Net Revenue 706,899 - 706,899 690,260 - 690,260 2.4% 2.4% Gross profit 234,026 - 234,026 230,394 - 230,394 1.6% 1.6% Gross M ar
Slide 66: IFRS 16 Adjustments
IFRS 16 Adjustments Argentina Income Statement 4Q19 Adj 4Q19 4Q18 Adj 4Q18 % Var % Var Pre Post Post in COP M 4Q19 Pre IFRS16 4Q18 Pre IFRS16 Post IFRS16 IFRS16 IFRS16 IFRS16 Net Revenue 290,238 - 290,238 218,086 - 218,086 33.1% 33.1% Gross profit 102,254 - 102,254 81,329 - 81,329 25.7% 25.7% Gross
Slide 67: FY19 P&L and CapEx by Country
FY19 P&L and CapEx by Country Income Statement Colombia Uruguay Argentina Consol in COP M FY19 FY19 FY19 FY19 Let Sales 11,029,843 2,554,885 925,062 14,503,846 Other Revenue 721,586 25,290 45,752 789,237 Net Revenue 11,751,429 2,580,175 970,814 15,293,083 Cost of Sales (8,937,530) (1,704,905) (640,6
Slide 68: 4Q/FY19 Consolidated Balance Sheet
4Q/FY19 Consolidated Balance Sheet in COP M Dec 2018 Dec 2019 Var % in COP M Dec 2018 Dec 2019 Var % Assets 72,311,162 15,861,015 (78.1%) Liabilities 53,848,693 7,416,173 (86.2%) Current assets 38,408,297 5,356,665 (86.1%) Current liabilities 37,836,809 5,906,214 (84.4%) Cash & Cash Equivalents 5,97
Slide 69: 4Q/FY19 Consolidated Cash Flow
4Q/FY19 Consolidated Cash Flow in COP M Dec 2019 Dec 2018 Var % Profit 922,676 1,212,682 (23.9%) Adjustment to reconciliate Net Income 2,321,985 4,583,098 (49.3%) Cash Net (used in) Operating Activities (462,317) 3,170,497 N/A Cash Net (used in) Investment Activities (6,734,779) (2,663,402) N/A Cash
Slide 70: 4Q/FY19 Debt by Country and Maturity
4Q/FY19 Debt by Country and Maturity Net debt breakdown by country 31 December 2019, (millions of COP) Colombia Uruguay Argentina Consolidated Short-term debt 339,358 392,335 - 0 731,693 Long-term debt 43,901 - 0 - 0 43,901 Total gross debt (1) 383,259 392,335 - 0 775,594 Cash and cash equivalents 2
Slide 71: 4Q/FY19 Holding P&L
4Q/FY19 Holding(1) P&L Income Statement in COP M 4Q19 4Q18 % Var % Var FY19 FY18 % Var Net Sales 3,109,562 2,964,333 4.9% 3.6% 11,044,128 10,619,523 4.0% Other Revenue 146,492 114,774 27.6% 2.4% 440,144 401,612 9.6% Net Revenue 3,256,054 3,079,107 5.7% 3.6% 11,484,272 11,021,135 4.2% Cost of Sales (
Slide 72: FY19 Holding Balance Sheet
FY19 Holding(1) Balance Sheet Balance Sheet in COP M Dec 2018 Dec 2019 Var % Assets 16,931,625 13,519,213 (20.2%) Current assets 3,914,728 4,448,466 13.6% Cash & Cash Equivalents 1,885,868 2,206,153 17.0% Inventories 1,398,724 1,555,865 11.2% Accounts receivable 218,109 199,712 (8.4%) Assets for tax
Slide 73: FY19 Store Number and Sales Area
FY19 Store Number and Sales Area Banner by country Store number Sales Area (sqm) 4Q19 Colombia Éxito 247 624,907 Carulla 98 86,612 Surtimax 92 45,111 Super Inter 70 65,754 Surtimayorista 30 31,377 Total Colombia 537 853,761 Uruguay Devoto 60 40,325 Disco 29 33,452 Geant 2 16,411 Total Uruguay 91 90,
Slide 74: María Fernanda Moreno R. Investor Relations Director
María Fernanda Moreno R. Investor Relations Director +574 6049696 Ext 306560 maria.morenorodriguez@grupo-Éxito.com Cr 48 No. 32B Sur – 139, Av. Las Vegas Envigado, Colombia www.grupoÉxito.com.co Éxitoinvestor.relations@grupo-Éxito.com •“The Issuers Recognition -IR granted by the Colombian Stock Exch