Cencosud Shopping Sa · BCS:CENCOMALLS
Cencosud Shopping Sa — Q3 2023 Earnings Presentation
22 slides from Cencosud Shopping Sa's earnings presentation, July 2024
Slide 1: Earnings Presentation Third Quarter 2023
Earnings Presentation Third Quarter 2023
Slide 2: 3Q23 Highlights
01 3Q23 Highlights |2
Slide 3: 1.1 Progress of the quarter
1.1 Progress of the quarter Official Presenter of Lollapalooza 2024 for the 2nd consecutive year • On the first day, pre-sale #1 associated with the Costanera Center discount was sold out v • 15,000 discount codes were distributed through the Mi Mall app to recognize clients preference • The event w
Slide 4: 1.2 Progress of the quarter
1.2 Progress of the quarter Van Gogh Immersive Art Experience Portal La Dehesa held the Van Gogh Immersive Art Experience, a multisensory experience that offers visitors a sample of projected images, inviting them to immerse themselves inside the paintings. In this sensory journey through art, visit
Slide 5: 3Q23 Results
02 3Q23 Results |5
Slide 6: 2.1 3Q23 Executive Summary
2.1 3Q23 Executive Summary CLP million 3Q23 3Q22 Var. (%) 9M23 9M22 Var. (%) Revenues 78,252 70,664 10.7% 230,545 204,918 12.5% Adjusted EBITDA (NOI) 71,209 61,532 15.7% 207,418 181,785 14.1% % Adj. EBITDA (NOI) 91.0% 87.1% 392 bps 90.0% 88.7% 126 bps Non-operating Income 3,893 -20,927 N.A. -17,601
Slide 7: 2.2 Tax and Non-Operating Income
2.2 Tax and Non-Operating Income During 3Q23, the Non-Operating Result was CLP 3,893 million, compared to CLP -20,927 million of 3Q22. This improvement is mainly explained by a reduced loss in the Indexation Units Results, attributable to the decrease in the UF variation during 3Q23 compared to 3Q22
Slide 8: 2.3 Key operational figures
2.3 Key operational figures Occupancy Rate: increased 51 basis points YoY, attributed to improvements in the occupancy rate in Peru (+1,328 bps YoY) and Chile (+34 bps YoY). This growth led the Company to achieve the highest occupancy levels in the last 3 years. 1,344,894 98.4% sqm Occupancy Rate Vi
Slide 9: 2.4 Resilient revenues structure
2.4 Resilient revenues structure Revenues Breakdown Contract Expiration Term (in years) Others 71.5% 14.4% Variable Rent 10.0% 11.5% 7.8% 5.8% 3.3% 75.7% Less than 2 Between Between Between More 2 and 3 3 and 4 4 and 5 than 5 Fixed Rent 71.5% 11.3 years1 Signed for 5+ years Contract duration Average
Slide 10: 2.5 Double-digit revenues growth in all three countries
2.5 Double-digit revenues growth in all three countries Revenues +10.7% Revenues Cencosud Shopping 12.5% Consolidated 230,545 204,918 Explained by Highest occupancy rate in the last 3 years, reaching 98.4% v +10.7% Recovery of tourism and foot traffic on associated businesses such as parking and Sky
Slide 11: 2.6 Adjusted EBITDA - maintains high profitability despite external pressures
2.6 Adjusted EBITDA - maintains high profitability despite external pressures Adjusted EBITDA +14.1% Adjusted EBITDA +15.7% 207,418 Cencosud Shopping Consolidated 181,785 90.0% Adjusted Stands out for EBITDA Margin Increase in gross margin, reaching 97.0% (+361 bps YoY) 15.7% Decrease in administrat
Slide 12: 2.7 Chile – double-digit growth in revenue and Adjusted EBITDA
2.7 Chile – double-digit growth in revenue and Adjusted EBITDA Chile +12.6% 223,608 198,555 Revenues +10.6% Occupancy level of 99.0% (+34 bps YoY) 10.6% Higher revenues from Sky Costanera and parking 68,482 75,765 driven by a rise in visits (+4,6% YoY) Revenues Leasing of more than 1,600 sqm of offi
Slide 13: 2.8 Peru – highest occupancy rate in 3 years
2.8 Peru – highest occupancy rate in 3 years +15.0% Peru 3,962 3,444 Revenues +12.4% 12.4% Increase of 1,328 bps in ocuppancy rate 1,243 1,397 End of restrictions associated to the pandemic Revenues Increased of 26.7% YoY in visits 3Q22 3Q23 9M22 9M23 +12.0% Adjusted EBITDA +11.1% 3,502 Double-digit
Slide 14: 2.9 Colombia – improved profitability
2.9 Colombia – improved profitability +1.9% Colombia 2,919 2,975 Revenues +16.1% 16.1% Improved perfomance of Altos del Prado 1,090 and La 65 shopping centers 939 Revenue driven by a 10.9% SSR increase Revenues 3Q22 3Q23 9M22 9M23 Adjusted EBITDA +45.0% -0.3% Expense reduction at Altos del Prado due
Slide 15: 2.10 Competitive Occupancy Cost
2.10 Competitive Occupancy Cost SSS1 SRR1 Ocuppancy Cost -8.6 % -1.9 % 8.7% 7.6% -0.6 % 9.1 % 6.2% -1.4 % 10.9 % Chile Peru Colombia | 15 (1) Figures in Chile are in UF (variation in real terms), while Peru and Colombia reflejct calculations in local currency (nominal variation).
Slide 16: 2.11 Capital Structure
2.11 Capital Structure Financial metrics Unit SEPT 23 DEC 22 SEPT 22 • As of september 30, 2023, 100% of the Gross Financial Debt CLP MM 696,115 674,550 659,133 Duration years 10.9 11.7 11.8 Company’s debt was at a fixed rate. This Cash CLP MM 193,082 98,965 162,008 debt corresponds to obligations w
Slide 17: 2.12 Cash Flow Generation
2.12 Cash Flow Generation september 2023 vs december 2022 Cash increased 64.6% since 64.6% December 2022, enabling the Company to continue 44,266 with its Investment Plan for 2023-2027 6,921 The cash flow from 42,646 operating activities for the 182,647 130,313 5,090 488 9M23 period has been 9.8% hi
Slide 18: Sustainability Progress
03 Sustainability Progress | 18
Slide 19: 3.1 Sustainability Progress
3.1 Sustainability Progress Mercado Emprende Fair, Costumbrista Edition The recent edition of Mercado Emprende celebrated Chilean culture and its traditions, supporting over 1,000 entrepreneurial families and enhancing the shopping center experience with art exhibitions and folkloric performances. T
Slide 20: 3.2 Sustainability Progress
3.2 Sustainability Progress Educational Support Scholarships As part of the strategic pillars of innovation and sustainability, with a focus on integration and community development, the Company provided 2,500 educational scholarships to students from municipal schools. They will have access to a pe
Slide 21: Disclaimer
Disclaimer The information contained in this presentation has Cencosud Shopping and its respective subsidiaries, been prepared by Cencosud Shopping S.A. directors, and employees do not take accountability (“Cencosud Shopping”) for informational purposes for any loss or harm of any kind that might oc
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