GRUPO COMERCIAL CHEDRAUI, S.A.B. DE C.V. FOURTH QUARTER 2022 RESULTS

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

Feb 21, 2023, 19:31 ET

MEXICO CITY, Feb. 21, 2023 /PRNewswire/ -- Grupo Comercial Chedraui, S.A.B. de C.V. reports its 2022 fourth quarter and full year results. All figures in this report are shown in nominal terms and reported in accordance with International Financial Reporting Standards (IFRS).

Highlights:

+7.6% consolidated sales growth in Q4'22 and +37.6% in FY 2022
+13.5% same store sales increase in Mexico vs. ANTAD's 9.7% increase
+8.9% same store sales increase in the US in Q4'22
+28.5% consolidated EBITDA in Q4'22 and +53.2% in FY 2022
Acquisition of Tiendas de Descuento Arteli: 36 stores in Northeast Mexico
18 openings in the quarter in Mexico and 1 in the US, the first one in four years
Projected leverage ratio of 0.05x by year end, with cash flow generation of $7,350 million pesos

CONSOLIDATED RESULTS FOR THE FOURTH QUARTER 2022

The following chart summarizes the Income Statement in millions of pesos for the fourth quarter 2022. The margin for each line item represents its ratio to net sales and the comparison to the same period in 2021.


MXN in millions	Q4'21	% NS	Q4'22	% NS	Var %
Net Sales	65,079	100.0 %	70,023	100.0 %	7.6 %
Gross Profit	14,294	22.0 %	15,823	22.6 %	10.7 %
Operating Income	2,523	3.9 %	4,000	5.7 %	58.5 %
EBITDA	4,625	7.1 %	5,944	8.5 %	28.5 %
Net Income	1,004	1.5 %	2,104	3.0 %	109.5 %

Remarks of Antonio Chedraui, CEO of Grupo Comercial Chedraui:"We concluded a year of extraordinary results, with a fourth quarter in line with the results obtained in the first nine months and above what was projected at the beginning of the year. This shows that our value proposition continues to attract new customers, proof of this is that in Mexico we have grown faster than the market over the last 4 years. Along with the good results in sales and profitability, we were able to acquire the Arteli operation, which makes us market leaders in the Tampico-Madero-Altamira metropolitan area and reinforces our position in the Northeast of the country. In the United States, I am pleased to announce the first opening of a Smart & Final store under the leadership of Chedraui, a sign of the confidence we have in the format and the market. In both countries we reached profitability levels above the targets communicated at the beginning of the year. Through the commitment to our values and operational excellence, we continue to create value for Chedraui and its shareholders."

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Conference Call Information

Wednesday, February 22, 2023
10:00 am (EST)
9:00 am (CST)

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Webcast
Grupo Comercial Chedraui SAB de CV Q4'22 Conference Call - 1597759

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

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