Almacenes Exito Sa · BVC:EXITO
Almacenes Exito Sa — Grupo Éxito — Q1 2021 Earnings Presentation
31 slides from Almacenes Exito Sa's earnings presentation, May 5, 2021
Slide 1: 1Q21 Grupo Éxito Financial Results
1Q21 Grupo Éxito Financial Results May 5, 2021 “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 guarantees of its future occurrence. Grupo Éxito operat
Slide 3: Agenda
Agenda • 1Q21 Financial and Operating Highlights • Performance by country • 1Q21 Consolidated Financial Results • Q&A session 3
Slide 4: Consolidated Financial & Operating Highlights
1Q21 Consolidated Financial(1) & Operating Highlights Strategy diversification favoured Recurring EBITDA (+154 bps) and net income (+ 168 bps) growth Recurring EBITDA margin Net Income Omni-channel Sales 1Q21 Highlights 8.0% (+154 bps) +3.9x 2.1x (consol excl FX) Corporate Governance Financial Highl
Slide 5: Net Sales & SSS Performance in Colombia
1Q21 Net Sales (1) & SSS (1) Performance in Colombia Solid contribution from omni-channel and innovative formats 1Q21 Low-cost & Other (2) Variations SSS -3.6% -1.9% -5.2% -10.5% Total -5.7% -2.4% -5.7% -19.2% SSS (1) -3.6% -2.3% -4.4% -8.4% Total (1) -5.6% -2.7% -4.9% -17.1% Total MCOP 2,746,660 1,
Slide 6: Performance by Segments in Colombia
1Q21 Performance by Segments in Colombia Contribution from omni-channel and innovation partially offset a higher basis and challenging environment Éxito: Carulla: Low-cost & Other(2): ▪ 11 Éxito WOW stores posted 9 p.p. in sales ▪ Omni-channel share on sales was 15% of the ▪ Innovative concepts, omn
Slide 7: Innovation in Models & Formats
1Q21 Innovation in Models & Formats WOW and FreshMarket Innovative models represented a share of 19.7% of Colombia sales Éxito Wow: Innovation in Hypermarkets Carulla FreshMarket: Premium , fresh and sustainable The best merge of digital and physical worlds Performance levered by digital and omni-ch
Slide 8: Low-cost Strategies
1Q21 Low-cost Strategies Business models to further penetrate the base of the pyramid Segment: 14.4% share on sales 7 stores YTD 34 stores YTD 21 stores 2021E 36 stores 2021E Aliados A profitable wholesale format 4.0% of total banner sales YTD (4.4% 2021E) ✓ Double-digit return on investment Strong
Slide 9: Omni-channel Strategy
1Q21 Omni-channel(1,2) Strategy Improved performance and stronger contribution to share on sales Total Sales Share on sales(2) Orders 1Q21 Highlights 2.0 M (+60%) COP $364 K million (+118%) 13.0% (vs. 5.7% in 1Q20) E-commerce Click & Collect +7.3 p.p . ✓ +109% sales ✓ Sales grew 3.5x and growth orde
Slide 10: Asset and Traffic Monetization Activities
1Q21 Asset and Traffic Monetization Activities Viva Malls contributed to profitability while granting high occupancy and support to tenants Real Estate Business Puntos Colombia 17M clients (4.9 M with Habeas Data) +100 brands allies 6,600 million points redeemed in 1Q21 Reaching 34% of Colombians In
Slide 11: Innovative Activities
1Q21 Innovative Activities Leveraging the company’s growth by monetizing traffic and data Éxito Media Payment Platform Working with strategic allies and using business intelligence New alliance with Redeban to profit from store traffic Kiire payment platform and financial know-how to executed over 1
Slide 12: Operating Results: Colombia
1Q21 Operating Results: Colombia Solid margin gains (+232 bps) from complementary businesses and a resilient retail operation in COP M 1Q21 1Q20 % Var Net Sales 2,746,660 2,913,612 (5.7%) Other Revenue 219,366 137,956 59.0% Net Revenue 2,966,026 3,051,568 (2.8% ) Gross profit 724,553 672,129 7.8% Gr
Slide 13: Operating Results: Uruguay
1Q21 Operating Results: Uruguay A solid 10.3% Recurring EBITDA margin despite the worst holiday season in recent times in COP M 1Q21 1Q20 % Var Net Sales 625,262 704,000 (11.2%) Other Revenue 5,524 6,285 (12.1%) Net Revenue 630,786 710,285 (11.2% ) Results in COP Gross profit 218,430 237,929 (8.2% )
Slide 14: Operating Results: Argentina
1Q21 Operating Results: Argentina The operation reflected the effect of macro headwinds and restrictions from pandemic in COP M 1Q21 1Q20 % Var Net Sales 218,291 282,276 (22.7%) Other Revenue 4,182 9,254 (54.8%) Net Revenue 222,473 291,530 (23.7% ) Gross profit 73,564 91,925 (20.0% ) Results in COP
Slide 15: Consolidated Financial Results
1Q21 Consolidated Financial Results Solid complementary businesses and resilient retail boosted EBITDA in COP M 1Q21 1Q20 % Var Net Sales 3,590,213 3,899,888 (7.9%) Results in COP affected by a negative 3.9% FX effect at Other Revenue 228,959 152,543 50.1% top line and of 3.0% at recurring EBITDA le
Slide 16: Group Share Net Result
1Q21 Group Share Net Result Net Income rose 3.9x driven by strategy diversification and a more efficient structure Highlights • Material contribution from the group diversification strategy of complementary businesses – mainly the real estate and the financial (TUYA royalties and normalized provisio
Slide 17: Debt and Cash at Holding Level
1Q21 Debt and Cash at Holding (1) Level A healthy cash position and a slightly reduced gross debt level 1.7 Cash (& other assets) 0.6 0.5 Gross debt (financial liabilities & warranties) Net financial debt -0.5 -1.1 -1.0 2020-1 2021-1 Data in billion COP Main highlights ▪ Cash position in 1Q21 was of
Slide 18: Conclusions
1Q21 Conclusions LatAm platform ▪ Net Income grew by 3.9x from the solid outcome of the diversification strategy and cost/expense efficiencies across all operations. ▪ Recurring EBITDA margin gains (+154 bps) despite a higher basis and increased lockdowns across the region, mainly driven by real est
Slide 19: Appendices
Appendices 19
Slide 20: Consolidated Financial Results
1Q21 Consolidated Financial Results Consolidated figures in COP M 1Q21 1Q20 % Var Net Sales 3,590,213 3,899,888 (7.9%) Other Revenue 228,959 152,543 50.1% Net Revenue 3,819,172 4,052,431 (5.8% ) Cost of Sales (2,785,351) (3,034,922) (8.2%) Cost D&A (17,286) (16,387) 5.5% Gross Profit 1,016,535 1,001
Slide 21: P&L and Capex by Country
1Q21 P&L and Capex by Country Income Statement Colombia Uruguay Argentina Consol in COP M 1Q21 1Q21 1Q21 1Q21 Net Sales 2,746,660 625,262 218,291 3,590,213 Other Revenue 219,366 5,524 4,182 228,959 Net Revenue 2,966,026 630,786 222,473 3,819,172 Cost of Sales (2,225,207) (411,165) (149,080) (2,785,3
Slide 22: Consolidated Balance Sheet
Consolidated Balance Sheet in COP M Dec 2020 Mar 2021 Var % in COP M Dec 2020 Mar 2021 Var % Assets 15,649,974 14,508,607 (7.3% ) Liabilities 8,245,701 7,051,913 (14.5% ) Current assets 5,265,996 3,861,954 (26.7% ) Current liabilities 6,422,947 4,658,145 (27.5% ) Cash & Cash Equivalents 2,409,391 90
Slide 23: Consolidated Cash Flow
Consolidated Cash Flow in COP M Mar 2021 Mar 2020 Var % Profit 100,420 42,388 N/A Adjustment to reconciliate Net Income 276,101 211,121 30.8% Cash Net (used in) Operating Activities (1,240,492) (1,215,488) 2.1% Cash Net (used in) Investment Activities (232,437) (51,536) N/A Cash net provided by Fina
Slide 24: Debt by Country and Maturity
1Q21 Debt by Country and Maturity Note: The Colombian 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 IBR3
Slide 25: Holding P&L
1Q21 Holding (1) P&L in COP M 1Q21 1Q20 % Var Net Sales 2,748,799 2,918,803 (5.8%) Other Revenue 160,715 70,484 128.0% Net Revenue 2,909,514 2,989,287 (2.7% ) Cost of Sales (2,222,299) (2,363,688) (6.0%) Cost D&A (14,446) (13,410) 7.7% Gross profit 672,769 612,189 9.9% Gross Margin 23.1% 20.5% 264 b
Slide 26: Holding Balance Sheet
Holding(1) Balance Sheet in COP M Dec 2020 Mar 2021 Var % in COP M Dec 2020 Mar 2021 Var % Assets 13,468,080 12,268,017 (8.9% ) Liabilities 7,264,217 6,021,557 (17.1% ) Current assets 4,309,539 2,900,436 (32.7% ) Current liabilities 5,310,807 3,502,839 (34.0% ) Cash & Cash Equivalents 1,969,470 513,
Slide 27: Store Number and Sales Area
1Q21 Store Number and Sales Area Banner by country Store number Sales Area (sqm) Colombia Éxito 236 618,678 Carulla 95 85,129 Surtimax 72 32,726 Super Inter 61 58,745 Surtimayorista 34 33,621 Total Colombia 498 828,899 Uruguay Devoto 59 40,127 Disco 30 35,252 Geant 2 16,411 Total Uruguay 91 91,790 A
Slide 28: 2021 Outlook
2021 Outlook LatAm platform ▪ Net result to improve reflecting better operating performance and stability of non-operating lines. ▪ Consolidated Capex of between 110 to 130 MUSD (prioritizing mainly conversions of Wow and Fresh Market stores and the strengthening of IT and logistics platforms for om
Slide 29: 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 with over #1 shopping 105 allied brands mall operator Absolute market in Colombia leader, with 28% retail market share #3 real est
Slide 30: Grupo Éxito Strategic Pillars
Grupo Éxito Strategic Pillars Leading transformation focusing on customer and key retail trends Omni-client Our people 4. Asset / Traffic Monetization 1. Innovation 2. Omni-channel 3. Digital Transformation 5. Sustainable Shared Value & Best Practices ▪ Models & Formats ▪ E-commerce ▪ Apps ▪ Loyalty
Slide 31: Investor Relations Contact
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