Cencosud Shopping (CENCOMALLS) Cenco Day 2026 presentation summary

Strategic vision and transformation

• Focus on building a distinctive, customer-centric retail ecosystem leveraging data, AI, and omnichannel capabilities for long-term value creation and resilience.

• Transformation anchored in four pillars: growth & profitability, innovation & experience, retail ecosystem, and sustainability.

• Strategic acquisitions (The Fresh Market, Makro) and divestments (Bretas, Colombia service stations) to optimize portfolio and regional formats.

• Investments in technology platforms, process simplification, and operational efficiency to enable scalable, profitable growth.

Financial performance and capital allocation

• 2025 revenues reached USD 17.4 billion, with a diversified business mix across supermarkets, home improvement, financial services, and shopping centers.

• Disciplined capital allocation balancing growth investments, debt management, dividends, and buybacks; USD 2.3 billion in capex and USD 2.2 billion in dividends/buybacks since 2018.

• Enhanced financial flexibility through USD 600 million new loan, debt prepayment, and successful return to local bond markets.

• Investment grade ratings and controlled leverage (net leverage 1.2x, FX-neutral 3.3x) support resilience and access to capital.

Regional business highlights

• Argentina: USD 3.5 billion revenue, 265 supermarkets, 17 malls, and 1.7 million credit cards; strong omnichannel ecosystem and private label penetration.

• Brazil: USD 1.4 billion revenue, 268 stores, focus on operational efficiency, digital expansion, and value proposition enhancement amid challenging consumption trends.

• USA: The Fresh Market fully consolidated, 172 stores, USD 2.2 billion revenue, 9.7% EBITDA margin, and strong private label and e-commerce growth.

• Shopping centers: 41 malls, 1.4 million sqm GLA, 97.8% occupancy, and robust pipeline of brownfield and greenfield projects across the Andean region.