Almacenes Exito Sa · BVC:EXITO
Almacenes Exito Sa — Grupo Éxito — Q1 2023 Earnings Presentation
36 slides from Almacenes Exito Sa's earnings presentation, May 2023
Slide 1: 1Q23 Financial Results
1Q23 Financial Results Grupo Éxito “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
This document contains certain forward-looking statements based on data, assumptions and Note on estimates, that the Company believes are reasonable; however, it is not historical data and should forward not be interpreted as guarantee of its future occurrence. Grupo Éxito operates in a competitive
Slide 3: Agenda
Agenda ▪ DR Listing process ▪ ESG strategy ▪ Quarterly highlights ▪ Financial performance ▪ Conclusions and Q&A session 3
Slide 4: Listing Process
Listing Process ADRs y BDRs 4
Slide 5: DR listing process update
Potential for unlocking value for Grupo DR listing process Éxito and its shareholders update GPA owns ~97% of Éxito • Distribution of ~86% of Éxito Market capitalization (B COP) shares held by GPA (96.52%) DR Listing update 5.5 through ADRs and BDRs (both • Transaction announcement (Sep 5/22) tier I
Slide 6: Sustainability Strategy
Sustainability Strategy 6
Slide 7: ESG initiatives to generate value: economic growth, social development and environmental protection
ESG initiatives to generate value: economic growth, social development and ESG strategy 1Q23 environmental protection Zero Malnutrition My Planet Sustainable Trade tons of material collected at the of fruit and vegetables locally children benefited from nutrition operation purchased and complementar
Slide 8: Quarterly Highlights
Para regi productos Quarterly Highlights
Slide 9: 1Q23 Consolidated highlights
Double-digit top line growth and efficiencies 1Q23 Consolidated1 drove recurring EBITDA growth (+9%) despite inflationary pressures on SG&A highlights Revenue Recurring EBITDA Net Result SSS2 $ 387,285 M COP +9.0%, 7.1% margin $ 45,118 M COP $5.5 B COP +11.8% (+21.5%, +13 bps in comparable basis3) (
Slide 10: Financial Performance
Financial Performance 10
Slide 11: 1Q23 Top line performance
Top line driven by innovation, omnichannel 1Q23 Top line and improved dynamics in Uruguay and Argentina performance Colombia Uruguay Argentina Consolidated in COP M 1Q23 1Q22 % Var 1Q23 1Q22 % Var 1Q23 1Q22 % Var 1Q23 1Q22 % Var Net Sales 3,630,343 3,319,165 9.4% 1,161,469 761,220 52.6% 445,420 294,
Slide 12: 1Q23 Omni-channel performance in Colombia
Strong sales growth (+13.9%) boosted by double- 1Q23 Omni-channel1 digit growth of the food category (+ 29%) performance in Colombia Total Sales Share on sales1 Orders KPI´s COP $450K M (+13.9% vs 1Q22) 12.3% (vs 11.8% in 1Q22) 4.1 M (+61% vs 1Q22) Omni-channel highlights • Solid performance despite
Slide 13: 1Q23 Innovative models performance in Colombia
Increased share on Colombia sales from 1Q23 Innovative models innovation in models and formats ( 41%, +121 performance in Colombia bps YoY) Total banner stores 209 107 56 Hyper, supermarkets & Supermarkets and convenience Cash and Carry stores Formats and value convenience stores stores Low-cost val
Slide 14: Asset and traffic monetization in Colombia: loyalty and financial retail
Commercial dynamism strengthened financial Asset and traffic retail and the loyalty coalition monetization in Colombia 2.0 M cards in stock COP $4.1 B 168 allied brands Loan portfolio (+29.2% vs 1Q22) NPL 30 levels Loyalty platform PCO (high single-digit) +6.3 M active clients (+11%) • Loyalty as a
Slide 15: Real Estate: a hidden value to the Company's share valuation
Real Estate: a hidden value to the Company´s Asset and traffic share valuation monetization in Colombia Real Estate Business Viva Malls1 The most important complementary business and contributor to margins 17 assets and 559,000 m2 of leasable areas 763K sqm of GLA Occupancy rate 96.6% Digital servic
Slide 16: 1Q23 Operating performance by country
Solid top line growth and efficiencies partially offset 1Q23 Operating inflationary pressures on the cost/expense structure performance by country across the region Colombia Uruguay Argentina in COP M 1Q23 1Q22 % Var 1Q23 1Q22 % Var 1Q23 1Q22 % Var Net Revenue 3,823,149 3,527,011 8.4% 1,171,124 768,
Slide 17: 1Q23 Consolidated Recurring EBITDA performance
Double-digit top line increase (18.6%) and gross profit 1Q23 Consolidated gains (+74 bps) partially offset inflationary pressures on expenses and led to Recurring EBITDA growth of 9.0% Recurring EBITDA (+21.5% in comparable basis1) performance in COP M 1Q23 1Q22 % Var Recurring EBITDA highlights Net
Slide 18: 1Q23 Recurring EBITDA Consol & Colombia
Recurring EBITDA grew from 9% to 21.5% at 1Q23 Recurring EBITDA consolidated level and from -10.8% to 1.4% in Colombia, Consol & Colombia when excluding non-recurring effects from the base1 Recurring EBITDA highlights • Positive contribution of all retail operations, partially offset by negative eff
Slide 19: 1Q23 Group Share Net Result
Operational contribution offset by higher 1Q23 Group Share Net interest rates, minority interest and provisions Result Net Result highlights Variations of Group Share Net Result • Positive contribution of retail operations and variation in income tax • Negative variations mainly of (i) financial exp
Slide 20: 1Q23 Leverage and Cash at Holding level
Free Cash Flow amounted COP $115,000 M 1Q23 Leverage and Cash at amidst higher investments and a challenging Holding level1 macroeconomic environment Cash and debt highlights • Net financial debt remained stable versus 1Q22, when excluding dividends paid and stock buyback operation (COP $534,000 M)
Slide 21: Conclusions & Q&A session
Conclusions & Q&A session 21
Slide 22: 1Q23 Conclusions
Strong profitable sales (+19.7%) led to a 9% Recurring 1Q23 Conclusions EBITDA growth (21.5% at consolidated level in comparable basis1) Consolidated Colombia • Sales and SSS growth driven by innovation (share 41%, +121 bps vs 1Q22) and • BDR filing approval, CVM and B3 authorized enrollment (Apr so
Slide 23: Appendices
Appendices 23
Slide 24: 1Q23 Consolidated financial results
1Q23 Consolidated financial results in COP M 1Q23 1Q22 % Var Net Sales 5,237,232 4,375,148 19.7% Other Revenue 218,922 226,819 (3.5%) Net Revenue 5,456,154 4,601,967 18.6% Cost of Sales (3,996,737) (3,403,740) 17.4% Cost D&A (26,498) (23,729) 11.7% Gross Profit 1,432,919 1,174,498 22.0% Gross Margin
Slide 25: 1Q23 P&L and capex by country
1Q23 P&L and capex by country Income Statement Colombia Uruguay Argentina Consol in COP M 1Q23 1Q23 1Q23 1Q23 Net Sales 3,630,343 1,161,469 445,420 5,237,232 Other Revenue 192,806 9,655 16,544 218,922 Net Revenue 3,823,149 1,171,124 461,964 5,456,154 Cost of Sales (2,936,503) (753,041) (307,276) (3,
Slide 26: Consolidated balance sheet
Consolidated balance sheet in COP M Dec 2022 Mar 2023 Var % in COP M Dec 2022 Mar 2023 Var % Assets 18,183,289 17,389,726 (4.4% ) Liabilities 9,748,843 9,163,624 (6.0% ) Current assets 5,947,863 5,203,959 (12.5% ) Current liabilities 7,415,394 6,837,362 (7.8% ) Cash & Cash Equivalents 1,733,673 982,
Slide 27: Consolidated cash flow
Consolidated cash flow in COP M Mar 2023 Mar 2022 Var % Profit 79,063 85,625 (7.7% ) Operating income before changes in working capital 384,260 367,594 4.5% Cash Net (used in) Operating Activities (844,472) (1,181,579) (28.5%) Cash Net (used in) Investment Activities (166,114) (79,314) N/A Cash net
Slide 28: 1Q23 Holding P&L
1Q23 Holding P&L (1) in COP M 1Q23 1Q22 % Var Net Sales 3,632,332 3,322,890 9.3% Other Revenue 105,972 129,075 (17.9%) Net Revenue 3,738,304 3,451,965 8.3% Cost of Sales (2,927,962) (2,696,278) 8.6% Cost D&A (22,556) (20,590) 9.5% Gross profit 787,786 735,097 7.2% Gross Margin 21.1% 21.3% (22) bps S
Slide 29: 1Q23 Holding balance sheet
1Q23 Holding balance sheet (1) in COP M Dec 2022 Mar 2023 Var % in COP M Dec 2022 Mar 2023 Var % Assets 14,848,638 14,250,782 (4.0% ) Liabilities 7,622,557 7,223,841 (5.2% ) Current assets 4,432,647 3,726,397 (15.9% ) Current liabilities 5,455,563 5,011,706 (8.1% ) Cash & Cash Equivalents 1,250,398
Slide 30: Debt by country and maturity
Debt by country and maturity 31 Mar 2023, (millions of COP) Holding (2) Colombia Uruguay Argentina Consolidated Short-term debt 1,022,007 1,029,860 650,879 - 1,680,739 Financial liabilities 944,870 944,870 648,562 - 1,593,432 Other financial liabilities 77,137 84,990 2,317 - 87,307 Long-term debt 54
Slide 31: Store number and sales area
Store number and sales area Banner by country Store number Sales area (sqm) Colombia Exito 209 621,107 Carulla 107 89,468 Surtimax 77 30,814 Super Inter 59 56,907 Surtimayorista 56 48,405 Total Colombia 508 846,702 Uruguay Devoto 62 40,544 Disco 30 35,252 Geant 2 16,411 Total Uruguay 94 92,207 Argen
Slide 32: Grupo Éxito strategic pillars
Grupo Éxito strategic pillars Leading transformation by focusing on customer and key retail trends Omni-client Our people 4. Asset / Traffic 1. Innovation 2. Omni-channel 3. Digital Transformation 5. ESG Monetization ▪ Models & Formats ▪ E-commerce ▪ Apps ▪ Loyalty Coalition ▪ Zero malnutrition ✓ Pr
Slide 33: ESG strategy
ESG strategy Six pillars with clear purposes, strategic focus and contribution, aligned with Sustainable Development Goals Work towards the eradication of Environmental protection Promote sustainable trade chronic child malnutrition in • Actions to manage climate practices Colombia by 2030 change •
Slide 34: 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, +130 allied #1 shopping brands and +5.5 M clients mall operator Multi-banner and in Colombia multi-format retail structure #3 rea
Slide 35: Investor Relations contacts
María Fernanda Moreno R. Teresita Alzate Head of Investor Relations Investor Relations Executive +(57) 312 796 2298 +(574) 6049696 Ext 306560 [email protected] [email protected] Éxito Calle 80, Cr 59 A No. 79 – 30 Cr 48 No. 32B Sur – 139, Av. Las Vegas Bogotá, Colombia Envigado,
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