Cencosud Reports Fourth Quarter 2014 Results

SANTIAGO, Chile, March 27, 2015 /PRNewswire/ -- Cencosud S.A. (BCS: CENCOSUD; NYSE: CNCO), a leading multi-format Latin American retailer with presence in five countries, announced today its consolidated financial results for the fourth quarter and year-end of 2014. All figures are in Chilean pesos (CLP), except where indicated otherwise, and in accordance with International Financial Reporting Standards. Variations refer to the comparison between 4Q13 and 4Q14.

• Revenues rose 7.0% driven by higher sales in all business divisions.
  
• Positive Supermarket SSS in all five countries and greenfield operations (Department Stores in Peru and Home Improvement in Colombia).
  
• Gross profit rose 3.2% YoY and gross margin decreased 101 bps.
  
• Operating income decreased 4.2% in 4Q14 YoY. Including discontinued operations decreased 3.0%.
  
• Adjusted EBITDA decreased 6.9% YoY. Including discontinued operations dropped 5.6% explained by lower results from Department Stores and Argentina.
  
• Net profit decreased 35.7% in 4Q14 reflecting a combination of a lower operating result and a higher non-operating loss, along with higher tax expenses.

Please visit www.cencosud.com/inversionistas.htm to obtain the full fourth quarter earnings release, including financial results and tables.

Conference Call
The company will hold a conference call to review the 4Q14 results on Tuesday, March 31, 2015 at 12:00 pm Santiago / 11:00 am Eastern Time with a live webcast available through its website.
To participate on the day of the call, dial 1-877-407-8031 or 1-201-689-8031 approximately ten minutes before the call and tell the operator you wish to join the Cencosud Conference Call. A webcast of the conference call will be available online at http://www.investorcalendar.com/IC/CEPage.asp?ID=173777

About Cencosud S.A.
Cencosud is a leading multi-brand retailer in South America, headquartered in Chile and with operations in Chile, Brazil, Argentina, Peru and Colombia. The company, founded by Chairman Horst Paulmann, operates in supermarkets, home improvement stores, shopping centers and department stores, always aiming to deliver the right product at the right price to Latin America's growing middle class. In 2012, the Company listed American Depositary Receipts (ADRs) on the New York Stock Exchange.
[1] Adjusted EBITDA = EBITDA – Revalue of assets – Result from Indexation Units – Income (loss) from foreign exchange variations.

Forward-Looking Statements:
In addition to historical information, this earnings release contains "forward-looking" statements that reflect management's expectations for the future. The forward-looking statements included herein represent Cencosud's views as of the date of this release. A variety of important factors could cause results to differ materially from such statements. These factors are laid out in Cencosud's filings with the SVS in Chile and the SEC in the United States. The Company undertakes no obligation to revise or update publicly any forward-looking statement for any reason unless required by law.

SOURCE Cencosud

Related Links

http://www.cencosud.com/