Wal-mart De Mexico Sab De Cv · BMV:WALMEX
Wal-mart De Mexico Sab De Cv — Q4 2024 Earnings Presentation
31 slides from Wal-mart De Mexico Sab De Cv's earnings presentation, Feb 14, 2025
Slide 1: WALMEX
WALMEX February 13, 2025 Walmart >)< México y Centroamérica
Slide 2: Webcast disclaimer and forward-looking statements
The date of this webcast is February 13, 2025. Today’s webcast is being recorded and will be available at www.walmex.mx. Before we start, let me remind you that the content of this webcast is property of Wal-Mart de México S.A.B. de CY. and is intended for the use of the company’s shareholders and t
Slide 3: 4Q24 Performance
4Q24 Performance CEO Walmart México y Centroamérica
Slide 4: In Mexico, same-store sales grew 4.3% driven by Sam's Club
In Mexico, same-store sales grew 4.3% driven by Sam’s Club 4Q24 Same-Store Sales Growth - Mexico (%) By Format By Region By Merchandise Division Mexico: 4.3% ANTAD SSS. — self-service Sam's Walmart Walmart Bodega South North Center Metro Food & General Apparel Club Express Consumables Merchandise 1
Slide 5: Outpacing the market by bps in 2024
cing the market by 190 bps in 2024 Walmex Gap vs. ANTAD! - Same-Store Sales Growth (bps) 22050: -30 -80 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 Walmart >/< 1. ANTAD self-service and clubs México y Centroamérica bps = basis points
Slide 6: Sustaining the momentum of our growth strategy
Sustaining the momentum of our growth strategy 180 New stores in 2024 in Mexico and Central America 104 New stores in 4Q24 71 2~= «13 Mexico ' Central America ° 1.7% Contribution to Total Sales Growth in 2024 Walmart >)< México y Centroamérica
Slide 7: Growing through stores, eCommerce and newer businesses
Growing through stores, eCommerce and newer businesses Vy" > 17% 20% 18.3M New stores GMV eComm ; ° contribution in 2024 Growin tin ZOD Bait active users Z PN 46m Digital Connection Program contactable customers ES a, a= 2.5m Health memberships sold in 2024 art Connect revenue Growth in 2024 1 Walma
Slide 8: In Central America, same-store sales grew 3.1%
In Central America, same-store sales grew 3.1% 4Q24 Same-Store Sales Growth (%) By Country in Central America Central America: 3.1% Honduras Nicaragua Guatemala CostaRica El Salvador 6 e«@s @ Figures in constant currency basis 1 Walmart >.< México y Centroamérica
Slide 9: Revenue growth of 8.3% in 4Q24 and 8.1% in 2024
Revenue growth of 8.3% in 4Q24 and 8.1% in 2024 Total Revenue Growth (%) Total Revenue Growth (%) 4Q24 FY24 8.3 81 7.4 71 5.7 5.6 ‘" : 5.2 : Z Mexico Central America Walmex Walmex Mexico Central America Walmex Walmex constant constant constant constant currency currency currency currency 1 Walmart >
Slide 10: Operational Highlights
4Q24 Operational Highlights COO Walmart México y Centroamérica
Slide 11: Win in Discount: Running great stores and clubs
Win in Discount: Running great stores and clubs Price Perception Our Brands Operational Efficiencies JAHORRA GON LOS PRECIOS @ is 4 = ~ = G it Value® JMORRALLN) STSUST"° Walmart México y Centroamérica
Slide 12: Mexico's eComm GMV increased 20% driven by On-Demand
Mexico’s eComm GMV increased 20% on 4Q and FY driven by On-Demand Mexico eComm GMV ' Growth (%) S 20% 20% i On-demand I Extended Assortment On-demand +1,350 stores with On-Demand a9 WR ssa) | wh of total GMV . , om ‘ “MarketpkaceGMVGrowth ‘15% Sssté=<CS*sé«<SHSC:~S*s je BES Record Sales Da Marketpka
Slide 13: Developing an ecosystem that is mutually reinforcing
Developing an ecosystem that is mutually reinforcing CONNECTIVITY = FINANCIAL SOLUTIONS + o/h 18.3 Million 700K = 40% Credits disbursed growth vs 2023 Active! users #1 Cashi downloaded financial app in Mexico during EFI Walmart >'< Beneficios BodegaAurrera /® Beneficios HEALTH 46m Contactable custom
Slide 14: 4Q24 Financial Results
al, 4Q24 Financial Results Paulo Garcia 1 Walmart >,< México y Centroamérica
Slide 15: Mexico's Performance
Mexico’s Performance 4Q24 Highlights Revenues growth (%) * Total revenues increased 5.7% 81 * Same-store sales grew 4.3% 5.7 * Gross margin decreased 10 bps to 23.6% mainly due to price investments and a one-off from last year partially offset by contribution from new businesses. 4Q23 4Q24 EBITDA Ma
Slide 16: In Mexico, revenues grew 5.7% and EBITDA margin was 10.2%
In Mexico, revenues grew 5.7% and EBITDA margin was 10.2% x = times Mexico 4Q results Total revenues 226,168 100.0 | 213,914 100.0 5.7 Gross margin 53,362 236 | 50,641 237 | 5.4 General expenses 35,194 15.6 31,112 14.5 13.1 | Earnings before other income, net 18,168 8.0 | 19,529 91 (VA0)) Other inco
Slide 17: Gross Margin helped by new businesses offset by price investments
Gross Margin helped by new businesses contribution offset by price investments to accelerate market share 4Q24 Gross Profit Margin % Total Revenues —- Mexico 4Q23 Omnichannel New 4Q24 One-Offs PY 4Q24 Margin Businesses Excl. One-Offs Reported 1 ate Walmart >.< bps = basis points México y Centroaméri
Slide 18: SG&A impacted by continued investment in growth and labor
SG&A impacted by continued investment in growth and labor 4Q24 SG&A % Total Revenues — Mexico 4Q23 Run Grow 4Q24 Walmart >)< bps = basis point: ooh pan ps = basis points México y Centroamérica Previous year Otis one-off was offset by 4Q24 tax one-off
Slide 19: Central America's Performance
Central America’s Performance Revenues growth (%) 5.6 46 4Q23 4Q24 EBITDA Margin (%) 8.4 a 4Q23 4Q24 bps = basis points (Constant Currency) 4Q24 Highlights Total revenues increased 4.6% * Same-store sales grew 3.1% Gross margin expanded 10 bps to 23.9%, Walmart Connect and logistic benefits offsetti
Slide 20: In Central America Op-Inc grew above revenue growth
In Central America Op-Inc grew 700 bps above revenue growth in constant currency Central America 4Q results Total revenues General expenses Earnings before other income, net Other income, net | Operating income EBITDA 48,537 11,620 8,428 3,192 (64) 3,128 4,217 100.0 23.9 17.4 6.6 (0.1) 6.4 8.7 39,74
Slide 21: Walmex Consolidated Performance
Walmex Consolidated Performance Revenues growth (%) 4Q24 Highlights * Total revenues increased 8.3% 8.3 * New stores contributed 1.7% 67 a * Gross margin remained flat at 23.7% of revenue. * SG&A represented 15.9% of revenues. 4Q23 4Q24 * Operating income grew 0.6% EBITDA Margin (%) 10.5 * Double-di
Slide 22: Consolidated revenues grew 8.3% and EBITDA margin was 10.0%
Consolidated revenues grew 8.3% and EBITDA margin was 10.0% Walmex Consolidated 4Q results Total revenues General expenses | Earnings before other income, net Other income, net | Operating income EBITDA Net income 274,705 64,982 43,622 21,360 122 21,482 27,383 15,200 100 23.7 253,658 60,101 38,043 2
Slide 23: Financial discipline as cornerstone for growth
Financial discipline as cornerstone for growth Balance sheet statement (December 31st, 2024 - SMX Millions) TOTAL: $493,893 Cash Inventories Accounts Payable Fixed assets Shareholders’ and other Equity and other Assets Liabilities & slo shareholders’ equity tae eT México y Centroamérica
Slide 24: Increasing investments; increasing returns
Increasing investments; increasing returns Sources and uses of cash - $MXN Millions Cash Cash Capex Dividend Taxes Working Plan Cash Dec. 2023 Generation Payment Capital Fund Dec. 2024 1 Walmart >.< México y Centroamérica
Slide 25: Dividends
*Additional extraordinary dividend as a result of higher cash generation and lower Capex deployment in 2022
Slide 26: Key Messages
Key Messages Growth momentum Committed to our growth strategy ahead of the market Record figures Walmex Gap vs. ANTAD Same-Store Sales Growth (bps) 190 14 15 16 17 18 19 '20 21 '22 '23 '24 11 year in a row Openings, EFI, Ecosystem Investing with discipline in high return areas 1 Walmart >.< México y
Slide 27: Walmart
; ' Walmart >< México y Centroamérica
Slide 28: In Mexico, revenues grew 7.4% and EBITDA margin was 10.7%
In Mexico, revenues grew 7.4% and EBITDA margin was 10.7% x= times Mexico 2024 results Total revenues 797,595 100.0 | 742,537 100.0 7.4 Gross margin 192,314 241 175,691 23.7 9.5 General expenses 127,460 16.0 111,442 15.0 14.4 | Earnings before other income, net 64,854 8.1 64,249 8.7 0.9 Other income
Slide 29: In Central America EBITDA margin was 9.2%
In Central America EBITDA margin was 9.2% Central America 2024 results Total revenues General expenses Earnings before other income, net Other income, net | Operating income EBITDA 160,912 39,159 28,625 10,534 251 10,785 14,822 100.0 24.3 178 6.5 0.2 6.7 9.2 143,986 34,867 25,305 9,562 (244) 9,318 1
Slide 30: Consolidated revenues grew 8.1% and EBITDA margin was 10.4%
Consolidated revenues grew 8.1% and EBITDA margin was 10.4% Walmex Consolidated 2024 results Total revenues General expenses | Earnings before other income, net Other income, net opening income EBITDA Net income 958,507 231,473 156,085 75,388 1,971 77,359 99,998 53,827 100.0 241 16.3 79 0.2 81 10.4
Slide 31: WALMEX
WALMEX February 13, 2025 Walmart >)< México y Centroamérica
Wal-mart De Mexico Sab De Cv — Q4 2024 Earnings Presentation on 6ix