The period 2022 was positive for cencosud, since the company closed the year with a record in income, registering US$16,358 million at the end of the year. That is, an increase of 25.8% compared to the previous year.
Regarding its Adjusted EBITDA in the same period, it amounted to US$1,817 million, showing an increase of 13.1%, which meant its ninth consecutive quarter with a double-digit EBITDA margin, and for the seventh consecutive quarter with revenue growth. double digit.
“The growth in Adjusted EBITDA is explained by the successful execution of the strategy aimed at deepening its exposure to the markets and retail formats with the highest growth, resilience and profitability,” the company reported in a statement.
Cencosud has carried out since 2021 the transformation of 65 stores to convenience formats and cash & carry.
In addition, it has achieved increases in market share compared to an already successful year 2021 in the businesses of Supermarkets Chile, Argentina and Brazil. All achieved in conjunction with the reduction in days of inventory in the business units in Chile compared to the end of September 2022 (Supermarkets -2.5 days, Department Stores -27.4 days and Home Improvement -8.5 days).
“The foregoing has allowed the consolidation of the Company’s solid financial position, which is reflected in the BBB- to BBB rating given by Fitch Ratings in recent months,” the document reads.
Other notable figures are related to the generation of sales tickets and the flow of customers to the stores, with more than 614 million tickets, which represents an increase of 18.5% compared to the previous year. Of these, 23 million corresponded to online purchases, a growth of 7.8%.
Matías Videla, general manager of Cencosud, explained that “these results are mainly attributable to the sustained resilience of the businesses core of Cencosud”.
He also attributed them to “the continued execution of a series of strategies aimed at increasing its profitability and the recent investments in organic and inorganic growth made by the Company.”
