Almacenes Exito Sa · BVC:EXITO
Almacenes Exito Sa — Grupo Éxito — FY2021 Earnings Presentation
36 slides from Almacenes Exito Sa's earnings presentation, Feb 22, 2022
Slide 1: 4Q/FY21 Grupo Éxito Financial Results
February 22, 2022 4Q/FY21 Grupo Éxito Financial Results “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 guarantee of its future occurrence. Grupo Éxito operate
Slide 3: Agenda
Agenda • Financial and operating highlights • Performance by country • Consolidated financial results • Outcome versus outlook 2021 • Outlook 2022 • Q&A session 3
Slide 4: Consolidated financial & operating highlights
Consolidated financial(1) & operating highlights Solid net income growth (2.1x) and recurring EBITDA margin evolution (+99 bps to 9.1%) driven by a consistent customer-centered strategy FY21 SSS(2) +7.8% EBITDA margin Net Income Omni-channel Highlights (+16.0% in 4Q21) 9.1% (+99 bps) 2.1x (+134 bps)
Slide 5: ESG Strategy
ESG Strategy Six pillars with clear purposes, strategic focus and contribution, aligned with Sustainable Development Goals Work towards the eradication Environmental protection Promote sustainable trade of chronic child malnutrition • Actions to manage climate practices in Colombia by 2030 change •
Slide 6: ESG Strategy Follow-up FY21
ESG Strategy Follow-up FY21 ESG initiatives to generate value: economic growth, social development and environmental protection Zero malnutrition My planet Sustainable trade ▪ 70,376 children benefited from • Carulla FreshMarket, the 1st retail • 90% of fruit and vegetables nutrition and complementa
Slide 7: Net Sales & SSS performance in Colombia
Net Sales (1) & SSS (1) performance in Colombia Strong quarterly growth and annual performance above inflation favoured by innovation, omni-channel and commercial dynamics 4Q21 12M21 Low-cost Low-cost & Other(2) & Other(2) Variations SSS (1) 15.0% 15.0% 9.7% 21.8% 6.8% 7.2% 1.1% 11.4% Total (1) 14.9
Slide 8: Performance by segment
Performance by segment A clear recovery trend versus last year and pre-pandemic levels Éxito: Carulla: Low-cost & Other(1): • 19 Éxito WOW in 2021 (+8) • 22 FreshMarket in 2021 (+8) • Sales +20.3%, LFL +21.8% in 4Q21 (exc. CE) • Non-food category boosted by the 3 • 15.8% omni-channel share on annual
Slide 9: Innovation in models & formats 2021
Innovation in models & formats 2021 WOW and FreshMarket share on Colombia sales reached 25.7% Éxito Wow: Innovation in Hypermarkets Carulla FreshMarket: Premium , fresh and sustainable 19 stores (+8 in 2021) 22 stores (+8 in 2021) 29.6% share on total 45.1% share on total banner´s sales banner´s sal
Slide 10: Innovation in models & formats 2021
Innovation in models & formats 2021 A 15.6% share of the low-cost segment on Colombia sales, boosted by Cash and Carry (+25.2% sales) A profitable wholesale format 36 stores Sales +42.9% in 4Q21 Strong App Sales +25.2%, LFL+24.4% in 2021 contribution 47.7% share on total banner sales (13.8% share on
Slide 11: Omni-channel strategy
Omni-channel(1,2) strategy 374 MUSD(3) in sales and a consistent double-digit share on total sales (11.9%) Total Sales Share on sales(2) Orders FY21 Highlights 7.8 M (-8.6%) COP $1.5 billion (+0.3%) 11.9% (vs. 12.5% in 2020) Omnichannel Share on Sales E-commerce Click & Collect +2.4x ✓ $517k M in sa
Slide 12: Innovation in digital activities 2021
Innovation in digital activities 2021 Enhancing the omni-channel strategy and boosting sales Turbo 10 minutes WhatsApp service • Available at 320 stores • Share of food 22% (+792 bps) and non-food 14.9% (+569 bps) • 67% penetration of WhatsApp in Colombia • Sales of USD 70 M(1) (1.6x vs 2020) • 17.8
Slide 13: Asset and Traffic Monetization
Asset and Traffic Monetization Real estate revenue +54% and occupancy rates (93%) closer to pre-pandemic levels Real Estate Business The largest shopping mall operator in Colombia ✓ Economic recovery reactivated traffic, revenue and projects 761k sqm of GLA ✓ Viva Online, the first Colombia e-commer
Slide 14: Asset and Traffic Monetization
Asset and Traffic Monetization The financial business and loyalty coalition gained traction in 2021 Financial Retail Puntos Colombia • +431,000 cards issued • 2.8 M cards in stock (+2.4%) 5.5 M active clients(1) (+17.3%) • Loan portfolio of COP $3.6 B (+19%) 134 allied brands (26% of total redemptio
Slide 15: Operating Results: Colombia
Operating Results: Colombia Top line growth above inflation diluted an optimized cost structure and led to annual EBITDA margin gains (+136 bps) in COP M 4Q21 4Q20 % Var FY21 FY20 % Var Net Sales 3,827,521 3,330,661 14.9% 12,284,397 11,642,685 5.5% Other Revenue 219,648 158,410 38.7% 748,426 539,587
Slide 16: Operating Results: Uruguay
Operating Results: Uruguay Efficiency gains and an improved consumption trend by year-end favoured high EBITDA margin levels (10.2%) in COP M 4Q21 4Q20 % Var FY21 FY20 % Var Net Sales 744,900 686,492 8.5% 2,643,858 2,654,336 (0.4%) Other Revenue 10,153 9,679 4.9% 28,535 28,325 0.7% Net Revenue 755,0
Slide 17: Operating Results: Argentina
Operating Results: Argentina EBITDA margin +156 bps thanks to better commercial dynamics, real estate re- activation and productivity gains in COP M 4Q21 4Q20 % Var FY21 FY20 % Var Net Sales 424,655 157,045 170.4% 1,178,166 847,060 39.1% Other Revenue 16,257 3,369 382.5% 40,303 27,153 48.4% Net Reve
Slide 18: Consolidated Financial Results
Consolidated Financial Results EBITDA margin gains (+99 bps) from a consistent customer-centered strategy focused on innovation, omnichannel and traffic monetization in COP M 4Q21 4Q20 % Var FY21 FY20 % Var Net Sales 4,996,844 4,173,671 19.7% 16,105,756 15,141,244 6.4% Other Revenue 245,825 171,342
Slide 19: FY21 Group Share Net Result
FY21 Group Share Net Result Net income +2.1x boosted by operational performance and a leaner structure Highlights ▪ Positive contribution from operating performance, expenses from the pandemic affecting the base, lower cost of debt, and non-recurring deferred tax liabilities ▪ Negative effects deriv
Slide 20: FY21 Debt and Cash at Holding Level
FY21 Debt and Cash at Holding(1) Level A remarkable cash position boosted by solid top line performance, increased cash flow generation to shareholders´(2) by 298% in thousand million COP 2021 2020 Variation EBITDA 1,034 837 23.5% Operational result before WK 878 637 37.9% Lease liabilities amortiza
Slide 21: FY21 Conclusions
FY21 Conclusions Solid margins and net income gains from a consistent customer-centered strategy LatAm platform ▪ Strong recovery trend across countries, mainly during 2H21, drove annual results and has remained along 1Q22 ▪ Top line boosted by omni-channel, innovation and traffic monetization ▪ Sol
Slide 22: 2021 Outlook vs. Outcome
2021 Outlook vs. Outcome Expected targets disclosed to the market fully achieved Outlook 2021 Outcome 2021 . Revenue growth from dynamism of omni-channel and gradual recovery of . Revenue grew by 7.0% (retail sales +5.5% and complementary businesses +38.7%) complementary businesses. . Recurring EBIT
Slide 23: 2022E Outlook
2022E Outlook • Top line growth benefited by innovation, omni-channel and complementary businesses • To maintain Recurring EBITDA levels at consolidated level considering inflationary pressures on expenditure • Omni-channel to represent a high-single digit share on consolidates sales • Expansion(1)
Slide 24: Appendices
Appendices
Slide 25: 4Q/FY21 Consolidated Financial Results
4Q/FY21 Consolidated Financial Results in COP M 4Q21 4Q20 % Var FY21 FY20 % Var Net Sales 4,996,844 4,173,671 19.7% 16,105,756 15,141,244 6.4% Other Revenue 245,825 171,342 43.5% 816,629 594,595 37.3% Net Revenue 5,242,669 4,345,013 20.7% 16,922,385 15,735,839 7.5% Cost of Sales (3,824,641) (3,186,0
Slide 26: FY21 P&L and Capex by Country
FY21 P&L and Capex by Country Income Statement Colombia Uruguay Argentina Consol in COP M FY21 FY21 FY21 FY21 Net Sales 12,284,397 2,643,858 1,178,166 16,105,756 Other Revenue 748,426 28,535 40,303 816,629 Net Revenue 13,032,823 2,672,393 1,218,469 16,922,385 Cost of Sales (9,856,679) (1,746,123) (8
Slide 27: Consolidated Balance Sheet
Consolidated Balance Sheet in COP M Dec 2020 Dec 2021 Var % in COP M Dec 2020 Dec 2021 Var % Assets 15,649,974 16,901,179 8.0% Liabilities 8,245,701 8,872,702 7.6% Current assets 5,265,996 5,833,360 10.8% Current liabilities 6,422,947 6,518,400 1.5% Cash & Cash Equivalents 2,409,391 2,541,579 5.5% T
Slide 28: Consolidated Cash Flow
Consolidated Cash Flow in COP M Dec 2021 Dec 2020 Var % Profit 592,937 329,902 79.7% Adjustment to reconciliate Net Income 1,342,374 1,046,604 28.3% Cash Net (used in) Operating Activities 1,138,587 630,301 80.6% Cash Net (used in) Investment Activities (571,021) (273,926) N/A Cash net provided by F
Slide 29: Debt by Country and Maturity
Debt by Country and Maturity Net debt breakdown by country 31 Dec 2021, (millions of COP) Holding (2) Colombia Uruguay Argentina Consolidated Short-term debt 203,001 235,528 520,924 19 756,471 Long-term debt 742,084 742,084 - - 742,084 Total gross debt (1) 945,085 977,612 520,924 19 1,498,555 Cash a
Slide 30: 4Q/FY21 Holding P&L
4Q/FY21 Holding(1) P&L in COP M 4Q21 4Q20 % Var FY21 FY20 % Var Net Sales 3,828,277 3,329,904 15.0% 12,290,994 11,649,896 5.5% Other Revenue 138,383 97,579 41.8% 478,388 312,444 53.1% Net Revenue 3,966,660 3,427,483 15.7% 12,769,382 11,962,340 6.7% Cost of Sales (3,040,326) (2,636,146) 15.3% (9,844,
Slide 31: Holding Balance Sheet
Holding(1) Balance Sheet in COP M Dec 2020 Dec 2021 Var % in COP M Dec 2020 Dec 2021 Var % Assets 13,468,080 14,422,470 7.1% Liabilities 7,264,217 7,541,065 3.8% Current assets 4,309,539 4,686,474 8.7% Current liabilities 5,310,807 5,137,135 (3.3%) Cash & Cash Equivalents 1,969,470 2,063,528 4.8% Tr
Slide 32: Store Number and Sales Area
Store Number and Sales Area Banner by country Store number Sales Area (sqm) Colombia Éxito 233 620,465 Carulla 101 87,285 Surtimax 72 30,989 Super Inter 61 58,680 Surtimayorista 36 34,870 Total Colombia 503 832,289 Uruguay Devoto 60 40,231 Disco 30 35,252 Geant 2 16,411 Total Uruguay 92 91,894 Argen
Slide 33: 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 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 real
Slide 35: María Fernanda Moreno R. Head of Investor Relations
María Fernanda Moreno R. Head of Investor Relations +574 6049696 Ext 306560 mmorenor@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 Exchange is not a
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