Slide 1: 4Q/FY23 Grupo Éxito Financial Results
4Q/FY23 Grupo Éxito Financial Results February 28, 2024 “ 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 t he issuer” .
Slide 2: Note on forward looking statements
2 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 guarantees of its future occurrence . The words “
Slide 3: Agenda
▪ Tender offer outcome ▪ ESG strategy ▪ Financial and operating highlights ▪ Financial performance ▪ Conclusions and Q&A session Agenda 3
Slide 4: Tender offer outcome Grupo Calleja
4 Tender offer outcome Grupo Calleja
Slide 5: Tender Offer Outcome
Note : 1 BDR represents 4 common shares, and 1 ADR represents 8 common shares . ( 1 ) Shareholder structure reported on January 25 , 2024 . 5 Float Casino ~34% ~53% ~13% (CBD) Change in ownership structure and share allocation by market post - TO Tender Offer Outcome 1 13.2% Casino Float 86.8% Grupo
Slide 6: Sustainability Strategy
6 Sustainability Strategy
Slide 7: ESG initiatives to generate value
Zero Malnutrition Sustainable Trade My Planet Governance & Integrity Healthy lifestyle ESG initiatives to generate value: economic growth, social development and environmental protection • Over 72 , 000 children benefited from nutrition and complementary programs • Over 183 , 000 food packages deliv
Slide 8: Operating and financial highlights
8 Operating and financial highlights
Slide 9: 4Q23 highlights
Recurring EBITDA 3 COP$ 527,034 M ( - 1.9%, 9.7% margin; +8.1% excluding FX ) Net Revenue COP$5.4 B ( - 12.6% y/y, - 1.3% excluding FX) Notes : ( 1 ) Consolidated results from Colombia, Uruguay and Argentina, eliminations and the FX effect of - 11 . 5 % at Net Revenue and - 9 . 3 % at recurring EBIT
Slide 10: FY23 highlights
Recurring EBITDA 3 COP$1,638,419 M ( - 1.4%, 7.8% margin; +0.8% excluding FX ) Net Revenue COP$ 21.1 B (+ 2.4 % y/y, + 8.7% excluding FX) Notes : ( 1 ) Consolidated results from Colombia, Uruguay and Argentina, eliminations and the FX effect of - 5 . 7 % at Net Revenue and - 2 . 2 % at recurring EBI
Slide 11: Financial Performance
oo A sCFinancial 5. Performance
Slide 12: Net Revenue performance
Argentina and Uruguay grew annual Net Revenues above inflation (in LC), while Colombia reflected a slowdown in consumption Net Revenue performance • CPI 9 . 28 % LT - dec, 5 % food inflation ; retail sales (exc . gas and vehicles) decreased 3 . 2 % y/y • Top line driven by real estate (+ 19 . 7 % 4
Slide 13: FY23 Performance of Innovative Formats
FY23 Performance of Innovative Formats 36% (+133bps vs FY22) 63 % (+137 bps vs FY22) Share on Éxito’s Retail Sales Retail Sales increase vs. regular stores (included in 207 Éxito stores) +24.4 p.p. after 24 months +13.9 p.p. after 24 months 13 Hypers • Innovative experience • New generation of hyper
Slide 14: FY23 Performance of Innovative Formats: Surtimayorista, Allies and Misurtii
FY23 Performance of Innovative Formats Surtimayorista, Allies and Misurtii: Targeting and associating with the traditional market 64 stores 2.2x after 24 months Share on Retail Sales Retail Sales increase vs. regular stores 5.4 % (+23bps, share on Colombia Retail Sales y/y) Retail Sales COP $233,000
Slide 15: Omni-channel performance
Omni - channel 1 performance ( 1 ) Include . com, marketplace, home delivery, Shop&Go, Click&Collect, digital catalogues and B 2 B virtual 15 + 22% Food Sales (11.9% share) 19.3 M Orders (+44%) 2023 12.7 % Share on Retail Sales Marketplace: +15.3% during 2023 , 28% share on omni - channel non - food
Slide 16: Asset and traffic monetization during 2023
Asset and traffic monetization during 2023 Real Estate Business The most important complementary business and contributor to margins 794,000 sqm of GLA (33 assets) Occupancy rate 97.6% (vs. 96.4% y/y ) Note : ( 1 ) Viva Malls is a JV with Fondo Inmobiliario Colombia (FIC) in which Grupo Éxito has 51
Slide 17: Loyalty and financial services: TUYA and Puntos Colombia
7 M active clients (+10.7% y/y) AAA rating Note : TUYA and Puntos Colombia are 50 / 50 JV ´ s with Bancolombia . Loyalty platform PCO COP$172,000 M Redeemed 1.6 M cards in stock 3.3 B COP Loan Portfolio TUYA: Risk management activities to protect fundamentals in line with the banking sector Puntos
Slide 18: Operating performance by country
Operating performance by country • GP : solid growth of recurrent real estate income ( 20 . 3 % in 4 Q ; 18 . 6 % FY 23 ) and a higher base from industry facility relocation • Recurring EBITDA 1 : Costs and efficiency plans offset by lower consumption, inflationary pressures, and higher operating ta
Slide 19: Consolidated operating performance
Consolidated operating performance Note : Colombia perimeter includes Almacenes Éxito S . A . and its subsidiaries . Consolidated results from Colombia, Uruguay and Argentina, eliminations and the FX effect of - 11 . 5 % and - 5 . 7 % at Net Revenue in 4 Q 23 and FY 23 , and - 9 . 3 % and - 2 . 2 %
Slide 20: Net income highlights
• 4Q23 Net Income of COP$118,749 M from: o Operating contribution from Colombia and Uruguay o A higher deferred tax base in Colombia o Improved financial performance in Argentina o Lower non - recurring expenses in Colombia o Negative effect of Tuya’s share of profit • 2023 Net Income of COP$125,998
Slide 21: Cash generation and leverage
Cash generation of COP$123,000 M and improved working capital from inventories ( - 6.2 days) and lower receivables 4Q/FY 23 Leverage and Cash at holding level 1 Solid working capital improvement from: • Lower inventory levels (6.2 days y/y, worth near COP$126,000 M) • Positive cash generation from i
Slide 22: Conclusions
22 Conclusions
Slide 23: Conclusions
Grupo Calleja became main shareholder and controlling company of Grupo É xito - t ender offer reached 86.8%. A cquisition of minority stake of 6.66% of Grupo Disco. Net Revenue boosted by international operations (+9.8% in Uruguay and +245.5% in Argentina in LC) and real estate performance in Colomb
Slide 24: Appendices
Appendices 24
Slide 25: 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 figu
Slide 26: Ownership Structure
Ownership S tructure Note : Own ership structure after the closure of the tender offer launched by Grupo Calleja and shareholder ´ s structure reported on January 25 , 2024 . 26
Slide 27: Consolidated Income Statement
Consolidated Income Statement Note : Consolidated data include results from Colombia, Uruguay and Argentina, eliminations and the FX effect of - 11 . 5 % and - 5 . 7 % at Net Revenue in 4 Q 23 and FY 23 , and - 9 . 3 % and - 2 . 2 % at recurring EBITDA, respectively . Recurring EBITDA refers to Earn
Slide 28: Income Statement by Country
Income Statement by C ountry Note : The Colombia perimeter includes the consolidation of Almacenes Éxito S . A . and its subsidiaries in the country . Recurring EBITDA refers to Earnings Before Interest, Taxes, Depreciation, and Amortization adjusted by other non - recurring operational income (expe
Slide 29: Income Statement and CapEx by Country
Income Statement and CapEx by Country Note : Consolidated data include results from Colombia, Uruguay and Argentina, eliminations and the FX effect (of - 11 . 5 % and - 5 . 7 % at Net Revenue in 4 Q 23 and FY 23 , and - 9 . 3 % and - 2 . 2 % at recurring EBITDA, respectively . The Colombia perimeter
Slide 30: Consolidated Balance Sheet
Consolidated Balance Sheet Note : Consolidated data include figures from Colombia, Uruguay and Argentina . 30 in COP M Dec 2023 Dec 2022 Var % Assets 16,339,761 18,183,289 (10.1%) Current assets 5,283,091 5,947,863 (11.2%) Cash & Cash Equivalents 1,508,205 1,733,673 (13.0%) Inventories 2,437,403 2,7
Slide 31: Consolidated Cash Flow
Consolidated Cash Flow Note : Consolidated data include figures from Colombia, Uruguay and Argentina . 31 in COP M Dec 2023 Dec 2022 Var % Profit 308,174 249,238 23.6% Operating income before changes in working capital 1,503,202 1,470,019 2.3% Cash Net (used in) Operating Activities 1,527,067 901,42
Slide 32: Holding Income Statement
Holding Income Statement 1 ( 1 ) Holding : Almacenes Éxito Results without Colombia subsidiaries Recurring EBITDA refers to Earnings Before Interest, Taxes, Depreciation, and Amortization adjusted by other non - recurring operational income (expense) . 32 in COP M 4Q23 4Q22 % Var FY23 FY22 % Var Ret
Slide 33: Holding Balance Sheet
Holding Balance Sheet 1 ( 1 ) Holding : Almacenes Éxito Results without Colombia subsidiaries . 33 in COP M Dec 2023 Dec 2022 Var % Assets 13,580,684 14,761,545 (8.0%) Current assets 4,015,527 4,432,647 (9.4%) Cash & Cash Equivalents 980,624 1,250,398 (21.6%) Inventories 1,993,987 2,105,200 (5.3%) A
Slide 34: 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 letters of credits . ( 2 ) Holding gross debt issued 100 % in Colombian Pesos with an interest rate below
Slide 35: Store number and Retail Sales area
Store number and Retail Sales area Note : The store count does not include the 2 , 430 allies in Colombia . 35 Banner by country Store number Sales area (sqm) Colombia Exito 207 627,926 Carulla 112 89,500 Surtimax 80 31,934 Super Inter 59 56,907 Surtimayorista 64 55,453 Total Colombia 522 861,720 Ur
Slide 36: Accounts Reconciliations: Exchange Rates Effects on Results
Accounts Reconciliations Exchange Rates Effects on Results Note : Recurring EBITDA refers to Earnings Before Interest, Taxes, Depreciation, and Amortization adjusted by other non - recurring operational income (expense) . Data in COP includes a - 12 % FX effect in Uruguay at Net Revenue and at Recur
Slide 37: Accounts Reconciliations: Recurring EBITDA and Adjusted EBITDA
Accounts Reconciliations Recurring EBITDA and Adjusted EBITDA Note : Recurring EBITDA refers to Earnings Before Interest, Taxes, Depreciation, and Amortization adjusted by other non - recurring operational income (expense . Adjusted EBITDA refers to Earnings B efore Interest, Taxes, Depreciation, an
Slide 38: Accounts Reconciliations: Real Estate Business
Accounts Reconciliations Recurring Income of the Real Estate Business Net Revenue and Recurring EBITDA of Viva Malls in Colombia 38 in COP M 4Q23 4Q22 FY23 FY22 Operating Income (EBIT) 70,893 60,073 206,236 165,322 Non-Recurring Income/(Expense) 1,275 (2,425) 1,708 (1,417) Expense D&A 14,990 14,304
Slide 39: Grupo Éxito strategic pillars
Grupo Éxito strategic pillars Leading transformation by focusing on customer and key retail trends 1 . Innovation 3. Digital Transformation 2. Omni - channel 4. Asset / Traffic Monetization 5. ESG Focus on improving Customer Service Relational Marketing HR & Suppliers Relationship IT Development Our
Slide 40: ESG strategy
ESG strategy Six pillars with clear purposes, strategic focus and contribution, aligned with Sustainable Development Goals Work towards the eradication of chronic child malnutrition in Colombia by 2030 • Communicate and raise awareness • Generate resources and alliances • Influence public policies •
Slide 41: Grupo Éxito's ecosystem
Grupo Éxito Dz s e cosystem Leading retail through innovation and integration of BU Dz s across a comprehensive ecosystem with strong synergies Unmatched digital penetration in the region Click & collect, digital catalogues, , WhatsApp and Clickam Over 1,400 vendors #1 food retailer, high margins and
Slide 42: Investor Relations contacts
María Fernanda Moreno R . Head of Investor Relations +(57) 312 796 2298 mmorenor@grupo - exito.com Éxito Calle 80, Cr 59 A No. 79 – 30 Bogotá, Colombia www.grupoexito.com.co exitoinvestor.relations@grupo - exito.com • “The Issuers Recognition - IR granted by the Colombian Stock Exchange is not a cer
Slide 43: ae S
ae S