GRUPO CHEDRAUI RELEASES ITS GUIDANCE FOR 2023 RESULTS

MEXICO CITY, Jan. 16, 2023 /PRNewswire/ -- Grupo Comercial Chedraui, S.A.B. de C.V. announces its guidance for fiscal year 2023 for Mexico and the United States:

• For 2023, we expect Mexico same-store sales growth between 7% and 8%. Total sales are forecasted to grow between 15% and 16% due to new store openings and the consolidation of the Arteli acquisition. The sum of these will result in achieving two-year growth of more than 33% and which demonstrates the Company's capacity for continued development.
• For Chedraui USA, 2023 same store sales are expected to grow 5% at both Smart & Final and the Hispanic division. For total sales, we forecast growth of 5.5% in USD.
• Total CapEx for 2023 is estimated at approximately 2.8% of consolidated revenue, which will result in sales floor expansion in Mexico by approximately 3.6%, and 1.4% in the United States. For the entire Company, 2023 sales floor is expected to grow by 2.8%.
• Our Mexican expansion plan considers the opening of 7 Tienda Chedraui, 3 Super Chedraui and 50 Supercito, while in the United States we plan to open 3 Smart & Final and 1 El Super for a total of 4 openings.
• For 2023, we forecast 10 to 15 basis point EBITDA margin expansion in Mexico, while maintaining the same margin in the Real Estate Division. A 20 basis point expansion in EBITDA margin is projected for the Chedraui USA operation.
• By the end of 2023, our goal is to achieve a Net Bank Debt / EBITDA ratio close to zero, given the projected outstanding cash flow generation of the Company.
• We forecast a ROIC and ROE improvement of at least 10% by year end.
• The Company reaffirms its commitment to creating value for shareholders by growing organically and through acquisition.

Grupo Comercial Chedraui reiterates its intention to continue working for the benefit of its shareholders, employees and customers, while fulfilling its mission "To bring to all possible places, the products that customers prefer at the best possible price."

Contacts:

Humberto Tafolla Núñez
Director de Administración y Finanzas
Tel. + 52 (228) 8-42-11-10
[email protected]

Jesús Arturo Velázquez Díaz
Subdirector de Relación con Inversionistas
Tel. + 52 (228) 8-42-11-17
[email protected]

SOURCE Grupo Comercial Chedraui, S.A.B. de C.V.