Cencosud Shopping Sa · BCS:CENCOMALLS
Cencosud Shopping Sa — Q2 2024 Earnings Presentation
21 slides from Cencosud Shopping Sa's earnings presentation, Nov 1, 2024
Slide 1: Earnings Presentation Second Quarter 2024
Earnings Presentation Second Quarter 2024 |1
Slide 2: 2Q24 Highlights
01 2Q24 Highlights |2
Slide 3: 2Q24 Highlights
1.1 2Q24 Highlights 01 in the World Sky Costanera Recognized as One of the Best Destinations The highest viewpoint in South America, located 300 meters above ground in the Gran Torre Costanera in Santiago, has been honored with Tripadvisor’s Traveller's Choice 2024 award, ranking among the top 10% o
Slide 4: Key Progress in 2023-2027 Investment Plan
1.2 Key Progress in 2023-2027 Investment Plan Earnings Presentation – 2Q24 01 04 New Opening of a New Jumbo Store on Level -5 at Cenco Commercial Proposal for Office Towers Costanera In the Costanera and Vitacura office towers, we have A new Jumbo store has opened on level -5 at Cenco Costanera, int
Slide 5: 2Q24 Results
02 2Q24 Results |5
Slide 6: 2Q24 Executive Summary
2.1 2Q24 Executive Summary Earnings Presentation – 2Q24 91.2% Adjusted EBITDA Consolidated Revenue Consolidated Adjusted EBITDA Margin (CLP million) (CLP million) +9.6% +10.6% +10.7% +14.3% 152,293 166,892 136,210 150,583 76,661 84,876 67,694 77,379 2Q23 2Q24 6M23 6M24 2Q23 2Q24 6M23 6M24 Revenue in
Slide 7: 2Q24 Executive Summary
2.2 2Q24 Executive Summary Earnings Presentation – 2Q24 +8,980 sqm of entertainment GLA vs 2Q23 › FFO (Funds From Operations): In the second quarter of 2024, FFO increased by 17.9% YoY, reaching CLP 65,164 million. This improvement over 2023 is primarily due to a 12.2% increase in gross profit and a
Slide 8: Key Operational Figures
2.3 Key Operational Figures Earnings Presentation – 2Q24 Occupancy Rate 98.0% v The consolidated occupancy rate decreased by 39 bps YoY, due to the expansion of over 28,000 sqm in the past 12 months. In Peru, occupancy dropped to 89.6%, influenced by the opening of Cenco La Molina and a decline in t
Slide 9: Resilient Revenue Structure
2.4 Resilient Revenue Structure Earnings Presentation – 2Q24 Revenues Breakdown Contract Length (in years) Fixed Rent Variable Rent Other 69.7% v 12.5% 10.1% 13.7% 7.1% 3.7% 5.7% Less than 2 Between Between Between More 2 and 3 3 and 4 4 and 5 than 5 77.4% 69.7% ~11 years (1) Signed for +5 years Con
Slide 10: Expansion of over 20,000 sqm compared to 2Q23
2.5 Expansion of over 20,000 sqm compared Earnings Presentation – 2Q24 to 2Q23 Chile › Revenues increased by 9.7% compared to 2Q23. Revenues +8.4% This growth is primarily due to the addition of over (CLP million) 20,000 sqm of new GLA, achieving an occupancy rate of 98.8% during the same period. +9
Slide 11: Revenue and EBITDA Increased by 51.5% and 40.1%, respectively
2.6 Revenue and EBITDA Increased by 51.5% Earnings Presentation – 2Q24 and 40.1%, respectively Peru › Revenues increased by 31.2% in PEN and 51.5% in Revenues CLP compared to 2Q23, driven by the opening of +51.1% Cenco La Molina, which now has over 60 stores in (CLP million) operation, and increased
Slide 12: Occupancy Rate expansion (+127 bps)
2.7 Occupancy Rate expansion (+127 bps) Earnings Presentation – 2Q24 Colombia › Revenues increased by 5.0% in COP and 37.4% in Revenues CLP compared to 2Q23. The growth in local +45.4% (CLP million) currency attributed to a 127 bps expansion in the occupancy rate (reaching 92.2%) and the YoY increas
Slide 13: SSS, SSR and Occupancy Cost
2.8 SSS, SSR and Occupancy Cost Earnings Presentation – 2Q24 Occupancy Cost SSS +6.0% (1) -11.6% -10.3% 2Q24 2Q23 -1.8% +5.1% 8.8% 8.5% 8.5% SSR +6.3% (1) 7.3% 7.2% 6.3% Chile Peru Colombia | 13 (1) Measured in CLP. When calculated in UF (the inflation-adjustable accounting unit in Chile), SSS and S
Slide 14: Tax and Non-Operating Income
2.9 Tax and Non-Operating Income Earnings Presentation – 2Q24 › Non-Operating Income fell by 33.3% due to higher financial costs and exchange rate losses. › Conversely, Income Tax increased by CLP 4,895 million (+32.4% compared to 2Q23), primarily due to a 67.7% rise in Deferred Tax associated with
Slide 15: Cash Generation YTD as of June 2024
2.10 Cash Generation YTD as of June 2024 Earnings Presentation – 2Q24 Cash Position Evolution (1) (2) Cash increased by 63.8% since December 2023, driven by significant cash generation from operations. This increase was offset by capital investments (Capex) and the dividends payments for the period.
Slide 16: Capital Structure
2.11 Capital Structure Earnings Presentation – 2Q24 Financial Indicators Unit JUN 24 DEC 23 JUN 23 • As of June 30, 2024, 100% of the Company’s Gross Financial Debt CLP MM 721,310 706,458 693,184 debt exposed to interest rates was agreed at a fixed rate. This debt consist of obligations with Duratio
Slide 17: Sustainability Progress
03 Sustainability Progress | 17
Slide 18: Sustainability Progress
3.1 Sustainability Progress Earnings Presentation – 2Q24 01 Training on Waste Management at Cenco Malls 03 Environmental Awareness (Colombia) In 2Q24, we launched training and awareness programs on At Cenco Altos del Prado, the performance and consumption recycling across 7 of the shopping centers f
Slide 19: Sustainability Progress
3.2 Sustainability Progress Earnings Presentation – 2Q24 04 Smart City Expo Santiago 2024 Cenco Malls participated with a stand, aimed at showcasting the new spaces and sustainable innovations through virtual reality that the company is developing in its shopping centers. The purpose of this event w
Slide 20: Disclaimer
Disclaimer The information contained in this presentation has Cenco Malls and its subsidiaries, directors, and been prepared by Cencosud Shopping S.A. employees accept no responsibility for any loss or (“Cenco Malls”) for informational purposes only. It damage that may arise from the use of this sho
Slide 21: Slide 21
Cencosud Shopping S.A. (Cenco Malls) — Q2 2024 Earnings Presentation on 6ix