Cencosud Shopping (CENCOMALLS) Investor presentation summary

Financial performance highlights

• Consolidated revenues grew 7.5% year-over-year, driven by supermarket sales and the devaluation of the Chilean peso, with online sales up 10.5% regionally in CLP.

• Adjusted EBITDA fell 2.7% due to lower contribution from Argentina, but Chile saw improved profitability across all retail segments.

• Gross leverage improved sequentially, aided by EBITDA growth and a USD 699 million debt prepayment.

• A successful USD 650 million international bond issuance improved the debt maturity profile and liquidity.

Country performance

• Chile achieved 2.6% revenue growth and an 11.9% increase in adjusted EBITDA, with strong online and event-driven sales.

• Argentina showed resilient local-currency growth but faced EBITDA margin compression due to inflation and lower consumption.

• US revenues rose 19% in CLP (1.8% in USD), led by a 31.6% increase in online sales, despite a slight EBITDA margin decline.

• Brazil's revenues grew 15.2% in CLP (3.7% in BRL), with online sales up 39.4%, but EBITDA margin fell due to digital investment and food deflation.

• Peru expanded its EBITDA margin to 11.5% through operational efficiencies, despite a local-currency revenue decline.

• Colombia's revenues rose 22.2% in CLP but fell in local currency, with EBITDA sharply down due to promotional activity and weak consumption.

Digital and omnichannel strategy

• Digital ecosystem initiatives include CencoPay, Cencommerce, and Cencosud Ventures, focusing on scalable digital tools and data analytics.

• Omnichannel strategy in Chile accelerated post-pandemic, with alliances (e.g., Cornershop), improved web/app platforms, and a 27.2% increase in Jumbo Prime subscribers.

• E-grocery leadership in Chile supported by technological investments, with online market share up 920 bps since 2018.

• Recognition for excellence in online food retail, including Ecommerce Awards and high customer ratings.

• New store formats and operational improvements enhance productivity and customer experience, with dedicated e-commerce facilities and advanced logistics.