Latest news with #RodrigoLarraín
Business Wire
08-08-2025
- Business
- Business Wire
Chile, Argentina, Peru and the United States drive Cencosud's revenue growth by 5.3% in the second quarter
SANTIAGO, Chile--(BUSINESS WIRE)--Cencosud S.A. today reported its results for the second quarter of 2025, with revenues of CLP $4,171,343 million (USD 4,405 million), representing growth of 5.3% compared to the same period last year. Excluding the impact of hyperinflation in Argentina, revenues increased 7.2%. This performance was driven by revenue growth across all business units in Chile and Argentina, along with an acceleration in Colombia, which posted its largest sales increase since 2022. In the United States, revenues grew to historic levels (+9.0% in dollars, local currency) due to the opening of three new stores. A key milestone for the period was the performance of private label products, which achieved a record penetration of 18%, the result of the ongoing development of new products and a value proposition focused on quality, with Cuisine & Co. standing out. Additionally, online sales grew 7.8%. During the period, the Company advanced its organic growth plan, opening five new stores in the region, including three stores in the United States, one GIGA store in Brazil, and a new Jumbo store in Colombia. 'This quarter we highlight significant progress in our businesses and strategic priorities across all the countries where we operate. We continue to move forward with determination in our strategy and in strengthening our multi-format retail ecosystem', said Cencosud's Chief Executive Officer, Rodrigo Larraín. Reported Net Income for the quarter reached CLP $103,047 million (USD 109 million), while Distributable Net Income was CLP $69,750 million (USD 73.7 million), reflecting a year-over-year increase of 10.1%. Meanwhile, consolidated Adjusted EBITDA fell 5.5% year-over-year, mainly due to the accounting impact of hyperinflation adjustments in Argentina. Excluding this effect, Adjusted EBITDA showed real year-over-year growth of 1.3%, reflecting the resilience of the business. In line with this commitment, Cencosud received recognition as Chile's No. 1 Citizen Brand, according to Cadem, a milestone that reinforces Cencosud's conviction to continue enhancing its customer experience and actively contributing to the development of the communities where it operates. Highlights by Country Argentina: All business units posted real sales increases above inflation in local currency. Notably, supermarket revenues grew 36.4% above inflation, even when excluding the recent acquisition of the Makro wholesale chain. Brazil: Adjusted EBITDA margin expanded by 40 basis points to 5.3%, partly driven by the gain from the sale of assets in Minas Gerais. Chile: Achieved its seventh consecutive quarter with a double-digit Adjusted EBITDA margin of 11.6%, thanks to the solid performance of Paris department stores and shopping centers, efficiency initiatives, e-commerce profitability improvements, and the expansion of the retail media business. Colombia: Continued to show significant improvements in results. The divestment of the service station business in Colombia was completed, and the Adjusted EBITDA margin improved by 357 bps year-over-year, reaching 2.1%, driven by greater profitability in supermarkets, home improvement, and financial services. Peru: Posted the highest second-quarter Adjusted EBITDA margin in its history, reaching 11.8%. Online sales increased 35.5% compared to the same period last year. United States: Revenues grew to historic levels, with a 9.0% increase in local currency, driven by the opening of three new stores and a 24.8% growth in online sales. About Cencosud Cencosud, whose purpose is to ' serve extraordinarily at every moment ', is one of the largest and most prestigious retailers in the Americas. It operates in six countries, with more than 120,000 employees, 1,510 stores, and over 3.6 million m² of sales area. Its multi-format strategy covers Supermarkets, Home Improvement Stores, Department Stores, Shopping Centers, and Financial Services. In addition, it promotes innovative business lines such as Cencosud Media and private label brands, integrating technology to enhance the customer experience.
Yahoo
12-05-2025
- Business
- Yahoo
Cencosud reports revenue uptick, net income in Q1 FY25
Chilean multi-format retailer Cencosud has reported a consolidated revenue of 4.03trn pesos ($4.31bn) in the first quarter (Q1) of fiscal year 2025 (FY25), marking a 2.4% ascent from the corresponding period in 2024. The uptick is attributed to increased revenue in Chile, the US, Argentina, and Peru, alongside a notable leap in digital transactions surpassing seven million transactions, culminating in an 8.8% rise in sales from the previous year. The company observed substantial online sales growth over the quarter in the US and Peru, with increases of 30% and 44%, respectively. Chile also recorded a robust performance with a 7.5% rise in e-commerce sales year-over-year (YoY) during the first quarter of 2024, despite comparisons to a leap year and Easter celebrations occurring in March of 2024. Cencosud's net income for the quarter was reported at 126.44bn pesos, recovering from a net loss of 601m pesos in the same quarter of the preceding year. Driven by enhanced operational efficiency and margin growth in Chile, Peru, and Colombia, adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) for Cencosud reached 376.117bn pesos, up by 10.4% from the prior year quarter. The EBITDA margin improved by 68 basis points YoY to reach 9.3%. Cencosud CEO Rodrigo Larraín said: 'We have reinforced a disciplined capital allocation strategy across all countries and business lines. This approach allows us to pursue profitable growth, focused on innovation, digitalisation, and the adoption of technological tools that enhance our customer value proposition and boost operational productivity.' The Retail Ecosystem, integral to Cencosud's strategy, has been pivotal in fostering new technological advancements, innovations, and revenue streams. The quarter's notable developments included a rise in the market share of Private Label products, which accounted for 17.3% of overall sales, marking an increase of 69 basis points from the previous year. This growth was primarily driven by the Food segment, particularly through the Cuisine&Co brand. Additionally, the period saw the introduction of new nonfood brands, with Hydrum debuting a range of hydration accessories including bottles and mugs, and Cross Check unveiling a new line of luggage products. The Shopping Centre division continued its upward trajectory as well. In Chile alone, revenues climbed by 10.5%, with an EBITDA margin reaching 81.2%, reinforcing one of the highest occupancy rates in the market at 98.5%. "Our $610m investment plan for 2025 is progressing as planned, including strategic openings, real-estate projects, and a strong emphasis on digitalisation and technology," Larraín added. In February this year, Cencosud agreed to sell its Bretas supermarket assets in the state of Minas Gerais, Brazil for $716m reals. "Cencosud reports revenue uptick, net income in Q1 FY25" was originally created and published by Retail Insight Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
09-05-2025
- Business
- Business Wire
Cencosud Reports Net Income of CLP 126,442 Million in the First Quarter, with Adjusted EBITDA Up 10.4%
SANTIAGO, Chile--(BUSINESS WIRE)--Cencosud today announced its financial results for the first quarter of the year, reporting consolidated revenues of CLP 4,031,583 million, a 2.4% increase compared to the same period in 2024. This growth came against a tough comparison base, considering 2024 was a leap year and included Easter celebrations in March. Net Income for the quarter reached CLP 126,442 million, reversing the net loss of CLP 601 million recorded in the same quarter of the prior year. This performance was driven by revenue growth in Chile, the United States, Argentina, and Peru, as well as significant progress in the digital channel, which surpassed 7 million transactions and delivered 8.8% sales growth compared to the prior year. The United States and Peru stood out as the most dynamic online sales markets, with growth of 30% and 44%, respectively. Chile also performed strongly, with e-commerce sales increasing 7.5% year-over-year in the first quarter of 2024. In addition to broad-based growth across its business segments, the Company continued its efforts to enhance the profitability of each operation. In this regard, Adjusted EBITDA reached CLP 376,117 million, reflecting a 10.4% year-over-year increase. This improvement was driven by greater operational efficiency and margin expansion across several operations, particularly in Chile, Peru, and Colombia. The EBITDA margin reached 9.3%, representing a 68-basis-point improvement year-over-year. ' We have reinforced a disciplined capital allocation strategy across all countries and business lines. This approach allows us to pursue profitable growth, focused on innovation, digitalization, and the adoption of technological tools that enhance our customer value proposition and boost operational productivity,' said Rodrigo Larraín, Chief Executive Officer of Cencosud. Aligned with profitability improvements, the Retail Ecosystem, one of Cencosud's strategic pillars, has become a key driver in developing new technological capabilities, innovation and generating new revenue streams. Through continued growth in Retail Media, Private Label, and E-commerce, this unit achieved near double-digit revenue growth, contributing solid profitability during the quarter. Among the quarter's key highlights was the increase in Private Label penetration, which reached 17.3% of total sales (+69 basis points year-over-year), led by the Food category through Cuisine&Co, alongside the launch of new Non-Food brands such as Hydrum, offering hydration products like bottles and mugs, and Cross Check, featuring an attractive luggage line. Additionally, the Shopping Center business maintained its positive trend. In Chile, revenues rose 10.5%, with the EBITDA margin reaching 81.2%, consolidating one of the highest occupancy rates in the market at 98.5%. ' Our 2025 investment plan of USD 610 million is progressing as expected, encompassing strategic openings, real estate projects, and a strong emphasis on digitalization and technology, ' Larraín added. Other milestones for the quarter: Cencosud continued advancing various strategic initiatives that strengthen its value proposition and positioning across the region: New corporate purpose: Cencosud established its global purpose ' Serving extraordinarily at every moment ', reinforcing its strategic focus on customer experience and its role as a leading multi-format operator in the region. Integration of strategic assets in supermarkets in Argentina: The operations of Makro and Basualdo were integrated starting in February, advancing operational synergies in Argentina. Expansion of The Fresh Market in the U.S.: The chain reached 173 stores following six new openings between January and April. Additionally, it was recognized by USA Today with a 5-star rating in the 2025 America's Best Customer Service ranking, positioning it among the top customer service companies in the country. Commitment to circular fashion in Chile: The Company took control of Vopero, an e-commerce platform for fashion, positioning Paris as a key player in the circular fashion market and strengthening its exclusive product offering. Continued progress in Merco rankings: In Chile, Cencosud climbed 18 spots in the Merco ESG Responsibility ranking (from 43rd to 25th) and seven positions in the Merco Companies ranking (from 21st to 14th). In Peru, it advanced three spots in the Merco ESG Responsibility ranking. About Cencosud Cencosud is one of the largest and most prestigious retailers in the Americas, with operations in Argentina, Brazil, Chile, Peru, Colombia, and the United States -in addition to a commercial office in China and a technological and digital Hub in Uruguay- where it develops a successful multi-format strategy that today employs more than 120 thousand people. Its operation encompasses several business lines, such as Supermarkets, Home Improvement, Department Stores, Shopping Centers and Financial Services. Additionally, Cencosud operates complementary businesses such as Cencosud Media and Private Label products, all of which are known for their quality, excellent level of service, and focus on customer satisfaction. For more information, please visit
Yahoo
09-05-2025
- Business
- Yahoo
Cencosud Reports Net Income of CLP 126,442 Million in the First Quarter, with Adjusted EBITDA Up 10.4%
Consolidated revenues totaled CLP 4,031,583 million, driven by strong performance in Chile, the United States, Argentina and Peru. Adjusted EBITDA increased 10.4% year-over-year, with margin improvements in Chile, Peru and Colombia. Online sales grew 8.8% YoY, exceeding 7 million tickets, with standout performance in the U.S. and Peru. SANTIAGO, Chile, May 09, 2025--(BUSINESS WIRE)--Cencosud today announced its financial results for the first quarter of the year, reporting consolidated revenues of CLP 4,031,583 million, a 2.4% increase compared to the same period in 2024. This growth came against a tough comparison base, considering 2024 was a leap year and included Easter celebrations in March. Net Income for the quarter reached CLP 126,442 million, reversing the net loss of CLP 601 million recorded in the same quarter of the prior year. This performance was driven by revenue growth in Chile, the United States, Argentina, and Peru, as well as significant progress in the digital channel, which surpassed 7 million transactions and delivered 8.8% sales growth compared to the prior year. The United States and Peru stood out as the most dynamic online sales markets, with growth of 30% and 44%, respectively. Chile also performed strongly, with e-commerce sales increasing 7.5% year-over-year in the first quarter of 2024. In addition to broad-based growth across its business segments, the Company continued its efforts to enhance the profitability of each operation. In this regard, Adjusted EBITDA reached CLP 376,117 million, reflecting a 10.4% year-over-year increase. This improvement was driven by greater operational efficiency and margin expansion across several operations, particularly in Chile, Peru, and Colombia. The EBITDA margin reached 9.3%, representing a 68-basis-point improvement year-over-year. "We have reinforced a disciplined capital allocation strategy across all countries and business lines. This approach allows us to pursue profitable growth, focused on innovation, digitalization, and the adoption of technological tools that enhance our customer value proposition and boost operational productivity," said Rodrigo Larraín, Chief Executive Officer of Cencosud. Aligned with profitability improvements, the Retail Ecosystem, one of Cencosud's strategic pillars, has become a key driver in developing new technological capabilities, innovation and generating new revenue streams. Through continued growth in Retail Media, Private Label, and E-commerce, this unit achieved near double-digit revenue growth, contributing solid profitability during the quarter. Among the quarter's key highlights was the increase in Private Label penetration, which reached 17.3% of total sales (+69 basis points year-over-year), led by the Food category through Cuisine&Co, alongside the launch of new Non-Food brands such as Hydrum, offering hydration products like bottles and mugs, and Cross Check, featuring an attractive luggage line. Additionally, the Shopping Center business maintained its positive trend. In Chile, revenues rose 10.5%, with the EBITDA margin reaching 81.2%, consolidating one of the highest occupancy rates in the market at 98.5%. "Our 2025 investment plan of USD 610 million is progressing as expected, encompassing strategic openings, real estate projects, and a strong emphasis on digitalization and technology," Larraín added. Other milestones for the quarter: Cencosud continued advancing various strategic initiatives that strengthen its value proposition and positioning across the region: New corporate purpose: Cencosud established its global purpose "Serving extraordinarily at every moment", reinforcing its strategic focus on customer experience and its role as a leading multi-format operator in the region. Integration of strategic assets in supermarkets in Argentina: The operations of Makro and Basualdo were integrated starting in February, advancing operational synergies in Argentina. Expansion of The Fresh Market in the U.S.: The chain reached 173 stores following six new openings between January and April. Additionally, it was recognized by USA Today with a 5-star rating in the 2025 America's Best Customer Service ranking, positioning it among the top customer service companies in the country. Commitment to circular fashion in Chile: The Company took control of Vopero, an e-commerce platform for fashion, positioning Paris as a key player in the circular fashion market and strengthening its exclusive product offering. Continued progress in Merco rankings: In Chile, Cencosud climbed 18 spots in the Merco ESG Responsibility ranking (from 43rd to 25th) and seven positions in the Merco Companies ranking (from 21st to 14th). In Peru, it advanced three spots in the Merco ESG Responsibility ranking. About Cencosud Cencosud is one of the largest and most prestigious retailers in the Americas, with operations in Argentina, Brazil, Chile, Peru, Colombia, and the United States -in addition to a commercial office in China and a technological and digital Hub in Uruguay- where it develops a successful multi-format strategy that today employs more than 120 thousand people. Its operation encompasses several business lines, such as Supermarkets, Home Improvement, Department Stores, Shopping Centers and Financial Services. Additionally, Cencosud operates complementary businesses such as Cencosud Media and Private Label products, all of which are known for their quality, excellent level of service, and focus on customer satisfaction. For more information, please visit View source version on Contacts Beatriz +56 9 7806 5622
Yahoo
07-03-2025
- Business
- Yahoo
Reached CLP $16,493,815 Million: Cencosud Reports a 15.9% Increase in Revenue in 2024
Adjusted EBITDA increased by 10.8% compared to the previous year, reaffirming the Company's commitment to profitable growth. Net Income in 2024 totaled CLP $233,683 million, a 20.0% decrease compared to the previous year. This decline was mainly due to the depreciation of the Chilean peso against the U.S. dollar and economic conditions in Argentina. In the last quarter of the year, the Company reported revenues of CLP $4,822,259 million, a 46.2% increase compared to the same period in 2023. This was driven by improved business performance in Chile and higher sales in the United States. SANTIAGO, Chile, March 07, 2025--(BUSINESS WIRE)--Cencosud reported today a 15.9% year-over-year increase in revenue for 2024, reaching CLP $16,493,815 million (USD 17,477 million). This growth was primarily driven by an increase in online sales and revenue growth across all countries, except Argentina, which has been impacted by a challenging economic environment. Notably, strong performances were recorded in the United States, Colombia, and Peru, where revenue grew at a double-digit rate in Chilean pesos compared to 2023. Adjusted EBITDA for 2024 reached CLP $1,531,193 million (USD 1,622 million), a 10.8% increase compared to the previous year. This reflects double-digit growth in Adjusted EBITDA in Chile, the United States, and Peru, further confirming the Company's commitment to profitable growth. The Company's Net Income in 2024 was CLP $233,683 million (USD 248 million), representing a 20.0% decrease compared to the previous year. This was mainly due to the depreciation of the Chilean peso against the U.S. dollar, which impacted non-operating results, and the economic situation in Argentina. However, this was partially offset by a 7.1% increase in operating profit for the year. "We have concluded 2024 with a renewed focus on our strategy, having strengthened our Corporate Governance and structures to continue delivering the best value proposition to our customers and driving sustainable and profitable growth for our shareholders," said Cencosud's CEO, Rodrigo Larraín. Fourth Quarter Results Regarding the results of the last quarter of 2024, the Company reported revenues of CLP $4,822,259 million (USD 5,010 million), a 46.2% year-over-year increase, driven by the solid performance of businesses in Chile, Peru, and the United States, along with lower inflation and greater stability of the Argentine currency compared to the same period last year. Among the key milestones of the quarter was the opening of 10 stores across four countries, adding more than 10,000 m² of new sales space for the Company. Specifically, six The Fresh Market stores opened in the United States, two Spid stores in Chile, one Jumbo store in Argentina, and one Wong store in Peru. Adjusted EBITDA for the last quarter of 2024 grew 29.9% compared to the same quarter in 2023, reaching a total of CLP $464,238 million (USD 482 million). This was driven by double-digit growth in the United States, record EBITDA in Peru, and over 100% EBITDA growth in Colombia. Additionally, Department Stores in Chile increased their Adjusted EBITDA by 83.6%, supported by improvements in the value proposition and an increase in tourism. Meanwhile, Net Income for Q4 declined by 66.7% to CLP $36,123 million (USD 38 million), reflecting the depreciation of the Chilean peso against the U.S. dollar, which impacted non-operating results, along with the economic situation in Argentina. "During the fourth quarter of 2024, we achieved key milestones. In Chile, product mix optimization, private label development, and innovation drove sales growth and EBITDA margin expansion across all business units," added Rodrigo Larraín. Highlights to Date United States: Opened six new stores and achieved 23.8% growth in online sales. Chile: Product mix optimization, private label development, and innovation drove sales growth and EBITDA margin expansion across all business units. Colombia: Doubled Adjusted EBITDA and profitability compared to the same period in 2023, driven by improvements in the commercial offering and operational efficiency. Peru: Achieved its highest annual profitability in history, with an EBITDA margin of 11.5% in 2024. Argentina: Operating expenses grew below year-over-year inflation, reflecting the focus on operational efficiency. The acquisition of Supermercados Makro and Basualdo strengthened Cencosud's presence in the market and introduced the Company to the Cash & Carry format in the country. Brazil: Revenue showed slight growth amid increased competition and lower consumption. Additionally, the sale of the Bretas operations in the state of Minas Gerais confirms the Company's efforts to focus on high-growth, high-profitability markets in Brazil. About Cencosud Cencosud is one of the largest and most prestigious retailers in the Americas, with operations in Argentina, Brazil, Chile, Peru, Colombia, and the United States - in addition to a commercial office in China and a technological and digital Hub in Uruguay - where it develops a successful multi-format strategy that today employs more than 110 thousand people. Its operation encompasses several business lines, such as Supermarkets, Home Improvement, Department Stores, Shopping Centers and Financial Services. Additionally, Cencosud operates complementary businesses such as Cencosud Media, Cencosud Ventures and CencoPay, all of which are known for their quality, excellent level of service, and focus on customer satisfaction. For more information, please visit View source version on Contacts Beatriz +56 9 7806 5622 Sign in to access your portfolio
