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Grupo Éxito today announced the financial results of the third quarter of the year, a period in which it recorded a growth of 0.7% in operating income, reaching more than $ 3.65 billion, driven by an increase in consolidated turnover of 2.3% compared to the same period of the previous year.
This result was achieved thanks to the 3.5-fold increase in sales of e-commerce and direct commerce channels in Colombia; sales growth of 11.3% in Uruguay; the constant improvement of innovative models such as Éxito wow and Fresh Market in Colombia and Uruguay; and the strong performance of the food categories.
On the other hand, the operating income result was affected by the mobility restrictions in Colombia and Argentina due to Covid-19 which led to mandatory closures during some weekends of 213 stores in Colombia and almost the entire operation of Argentina, including shops and malls.
The recurring EBITDA margin was 7.1% on operating profit, the product of rigorous expense and cost control work, in a consumer environment hit by the pandemic, the company said.
Net profit reached $ 51,814 million, while in the same period of 2019 it was $ 11,033 million pesos, showing 4.7 times growth.
Grupo Éxito closed the third quarter of the year with 630 stores, 515 in Colombia, 90 in Uruguay and 25 in Argentina. The consolidated sales area of the company has reached more than one million square meters. Furthermore, during this period, seven points of sale were converted into differentiated and innovative formats: in Colombia, two Éxito wow, two Surtimayorista and one Éxito express; a fresh market in Uruguay and another in Argentina.
Carlos Mario Giraldo, president of Grupo Éxito, explained about the balance that “in the third quarter of the year, the results of Grupo Éxito showed that omnichannel strategy and innovation are big differentials to cope with market conditions. . These were driven by the positive trend of e-commerce and direct commerce channels in Colombia, which today account for 18.2% of the company’s total sales; and sales in Uruguay, which grew by 11.3%, exploited by the performance of the Fresh Market model and e-commerce channels “,
He added that “these results are influenced by the restrictions defined in Colombia and Argentina to mitigate the spread of Covid-19 which has led to the closure of hundreds of shops and malls over the weekends. In Argentina, a positive Ebitda margin of 1.9% stands out, despite the difficult context. In consolidated data, the organization recorded sales growth of 2.3%. The strategies defined by the company long ago enabled it to address the current situation due to the pandemic and to be a resilient company despite the effects on major businesses such as real estate and finance. I want to emphasize the priority given to the safety and health of our employees and customers, creating an environment of trust in the warehouses, as a true “extension of the house”.
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