MEXICO CITY, July 27, 2023 /PRNewswire/ — Grupo Comercial Chedraui, S.A.B. de C.V. reports its 2023 second quarter results. All figures in this report are shown in nominal terms and reported in accordance with International Financial Reporting Standards (IFRS).
Quarter Highlights:
- + 10.5% SSS in Mexico vs ANTAD’s + 8.1% increase
- + 3.2% SSS increase in the US
- + 8.8% consolidated EBITDA increase
- EBITDA margin increases:
- +63 bps Consolidated
- +44 bps Retail Mexico
- +76 bps Retail US
- Consolidated Net Income +23.3% in the quarter
- Net debt to EBITDA leverage ratio: 0.12x
CONSOLIDATED RESULTS FOR THE SECOND QUARTER 2023
The following chart summarizes the Income Statement in million pesos for the second quarter of 2023. The margin for each figure represents its ratio to net sales and the comparison to the same period in 2022.
|
MXN in millions |
||||||
|
Q2’22 |
% NS |
Q2’23 |
% NS |
Var % |
||
|
Net Sales |
63,817 |
100.0 % |
64,577 |
100.0 % |
1.2 % |
|
|
Gross Profit |
14,655 |
23.0 % |
15,058 |
23.3 % |
2.8 % |
|
|
Operating Income |
3,445 |
5.4 % |
3,851 |
6.0 % |
11.8 % |
|
|
EBITDA |
5,347 |
8.4 % |
5,817 |
9.0 % |
8.8 % |
|
|
Net Income |
1,510 |
2.4 % |
1,862 |
2.9 % |
23.3 % |
Antonio Chedraui, Grupo Comercial Chedraui’s CEO, remarked:
“Our operations in Mexico and the United States continue to demonstrate our company’s robust fundamentals and the confidence that our customers have in Grupo Chedraui. In Mexico, we improved profitability, grew faster than the overall market and were recognized by the administration for our successful pricing strategy. In the United States, our business demonstrated continued resilience which allowed us to expand EBITDA margin through effective division integration. As we enter the second half of the year, we see consumption trends exceeding expectations and we remain confident in continued solid results. We remain dedicated to creating value for Chedraui, its employees, customers, and shareholders.”
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Conference Call Information
Date
Friday, July 28th 2023
12:30 pm (EST)
10:30 am (Mexico City)
Dial-in US (toll-free): +1 877 407 3982
Dial-in Mexico: 01 800 522 0034
Dial-in International: +1 201 493 6780
https://callme.viavid.com/viavid/?callme=true&passcode=13731734&h=true&info=company&r=true&B=6
Webcast
https://viavid.webcasts.com/starthere.jsp?ei=1624899&tp_key=a50072163e
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SOURCE Grupo Comercial Chedraui, S.A.B. de C.V.
Featured image: Megapixl © Juliasudnitskaya