Grupo Comercial Chedraui, S.A.B. de C.V. Third Quarter 2021 Results
MEXICO CITY, Oct. 27, 2021 /PRNewswire/ -- Grupo Comercial Chedraui, S.A.B. de C.V. reports its 2021 third quarter results. All figures in this report are shown in nominal terms and reported in accordance with International Financial Reporting Standards (IFRS).
Quarter Highlights:
- 9.1% same store sales increase in Mexico vs. ANTAD's 5.4% increase
- 7.5% consolidated EBITDA margin, +46.5% year on year, +11.7% on a comparable basis
- 40% consolidated Net Income increase YoY; +261% vs Q3'19
- Close of Smart & Final acquisition on July 28, 2021
- Proforma leverage ratio: 0.91x in Q3'21
CONSOLIDATED RESULTS FOR THE THIRD QUARTER 2021
The following chart summarizes the Income Statement in million pesos for the third quarter 2021. The margin for each figure represents its ratio to net sales as compared to the same period in 2020.
As reported |
As reported |
Comparable (1) |
||||||||
MXN in millions |
Q3'20 |
% NS |
Q3'21 |
% NS |
Var % |
Q3'21 |
% NS |
Var % |
||
Net Sales |
35,412 |
100.0% |
52,473 |
100.0% |
48.2% |
36,779 |
100.0% |
3.9% |
||
Gross Profit |
8,148 |
23.0% |
11,835 |
22.6% |
45.3% |
8,360 |
22.7% |
2.6% |
||
Operating Income |
1,694 |
4.8% |
2,521 |
4.8% |
48.8% |
2,148 |
5.8% |
26.8% |
||
EBITDA |
2,677 |
7.6% |
3,923 |
7.5% |
46.5% |
2,991 |
8.1% |
11.7% |
||
Recurring EBITDA (2) |
2,677 |
7.6% |
4,206 |
8.0% |
57.1% |
2,991 |
8.1% |
11.7% |
||
Net Income |
640 |
1.8% |
896 |
1.7% |
40.0% |
1,028 |
2.8% |
60.6% |
||
Recurring Net Income (2) |
640 |
1.8% |
1,084 |
2.1% |
69.4% |
1,028 |
2.8% |
60.6% |
||
(1) Comparable excludes the effect of the consolidation of the Smart & Final result |
||||||||||
(2) "Recurring" excludes one-time expenses related to the Smart & Final acquisition |
||||||||||
Comments from Mr. Antonio Chedraui, CEO of Grupo Comercial Chedraui
"The great results for the third quarter of the year demonstrate once again the strength of our business model, and our ability to execute. In Mexico, we are achieving growth rates above the market thanks to our strong competitive advantages, while meeting our profitability goals. In the United States, during this quarter, we closed the acquisition of Smart & Final, an operation that complements our current formats and will allow us to reach a broader customer base. Today, we approach the integration of this new business determined to continue creating value for Chedraui and its shareholders."
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Conference Call Information
Date
Thursday, October 28th, 2021
10:00 am (EST)
9:00 am (CST)
Dial-in
Operator-assisted US toll-free dial-in number: +1 877 353 7089
Operator-assisted Mexico dial-in number: +52 55 4742 9159
Operator-assisted Mexico dial-in number: +52 55 8526 1645
Operator-assisted Mexico dial-in number: +52 55 5980 3594
About Grupo Chedraui
Grupo Comercial Chedraui S.A.B. de C.V. trades on the Mexican Stock Exchange under the ticker symbol "CHDRAUIB"; the Company as of September 30, 2021 was operating 710 stores in both Mexico and the US.
Contact:
Humberto Tafolla Núñez
Chief Financial Officer
Tel. + 52 (228) 8-42-11-10
[email protected]
Jesús Arturo Velázquez Díaz
Investor Relations
Tel. + 52 (228) 8-42-11-17
[email protected]
SOURCE Grupo Chedraui
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