GRUPO COMERCIAL CHEDRAUI, S.A.B. DE C.V. FIRST QUARTER 2022 RESULTS
MEXICO CITY, April 27, 2022 /PRNewswire/ -- Grupo Comercial Chedraui, S.A.B. de C.V. reports its 2022 first quarter results. All figures in this report are shown in nominal terms and reported in accordance with International Financial Reporting Standards (IFRS).
Quarter Highlights:
- +72.6% consolidated sales growth in Q1'22
- +13.1% same store sales increase in Mexico vs. ANTAD's 9.8% increase
- +9.5% same store sales increase in the US
- +80.0% consolidated EBITDA in Q1'22, +23.5% on a comparable basis
- EBITDA margin increase YoY: + 32 bps consolidated margin, + 57 bps Retail Mexico; +31 bps in Retail US
- Proforma leverage ratio: 0.63x in Q1'22
CONSOLIDATED RESULTS FOR THE FIRST QUARTER 2022
The following chart summarizes the Income Statement in million pesos for the first quarter of 2022. The margin for each figure represents its ratio to net sales and the comparison to the same period in 2021.
As reported |
As reported |
|||||
MXN in millions |
Q1'21 |
% NS |
Q1'22 |
% NS |
Var % |
|
Net Sales |
35,186 |
100.0% |
60,728 |
100.0% |
72.6% |
|
Gross Profit |
7,760 |
22.1% |
13,654 |
22.5% |
76.0% |
|
Operating Income |
1,783 |
5.1% |
2,850 |
4.7% |
59.9% |
|
EBITDA |
2,638 |
7.5% |
4,748 |
7.8% |
80.0% |
|
Net Income |
736 |
2.1% |
1,095 |
1.8% |
48.6% |
|
Comments from Mr. Antonio Chedraui, CEO of Grupo Comercial Chedraui
"Continuing our trend from the end of last year, in this first quarter of 2022 we once again achieved extraordinary results across all our business segments. In our Mexican operation, we maintained above market growth, which was driven by our ability to execute, the trust our customers have in us, and the recovery of the tourist areas in which we operate. At the same time, we were able to significantly expand our profitability due to efficient management of all lines on the Income Statement. In the United States, we reached unprecedented same store sales growth, while continuing to integrate the Smart&Final operation, whose successful format continues to prove the investment rationale in this business. Beyond the short-term results, the company maintains its focus on growth and improved profitability for the future, and our healthy balance sheet will allow us to face any challenge and take advantage of opportunities that arise. I would also like to highlight the Company's cash flow generation, which has made it possible to reduce the debt resulting from the acquisition made last year. In summary, we will continue to strengthen our capabilities and operation to create further value for Chedraui and its shareholders."
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Conference Call Information
Date
Thursday, 28th April, 2022
9:00 am (EST)
8:00 am (CST)
Dial-in
Operator-assisted US toll-free dial-in number: +1 877 353 7089
Operator-assisted Mexico dial-in number: +52 55 4742 9159
Operator-assisted Mexico dial-in number: +52 55 8526 1645
Operator-assisted Mexico dial-in number: +52 55 5980 3594
About Grupo Chedraui
Grupo Comercial Chedraui S.A.B. de C.V. trades on the Mexican Stock Exchange under the ticker symbol "CHDRAUIB"; the Company as of March 31, 2022 was operating 717 stores.
Contact |
||
Humberto Tafolla Núñez |
Jesús Arturo Velázquez Díaz |
|
Chief Financial Officer |
Ticker: |
Investor Relations |
Tel. + 52 (228) 8-42-11-10 |
CHDRAUI B |
Tel. + 52 (228) 8-42-11-17 |
SOURCE Grupo Chedraui
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