Chedraui maintains the positive trend of the first half of the year. From July to September of this year, the retailer achieved a profit of 1,467 million pesos (mdp), which represents an increase of 63.7% compared to the same quarter of 2021.
Its net sales also grew, going from 52,473 million pesos to 64,758 million pesos, which means an increase of 23.4%. Regarding its operating flow or Ebitda, the retailer reached 5,388 million pesos, that is, a percentage variation of 37.3%.
“In Mexico, in an environment of high inflation, our clients recognize us as a benchmark in the sector in terms of variety of products, customer service, but above all low prices; our growth, which is once again above the market rate”, commented Antonio Chedraui, CEO of Grupo Chedraui, in his financial report sent to the Mexican Stock Exchange (BMV).
“In the United States we also saw solid growth in our operation, with consistent performance across our three formats. We face the end of the year with the determination to close the year maintaining the trend of results that we have had throughout 2022”, he added.
In the self-service operation in Mexico, sales for the third quarter of the year showed a growth of 15.8%, reaching 25,384 million pesos, while same-store sales increased 16.2% year over year. This result exceeds the 10.7% reported by Antad.
During the period, in addition, eight stores were opened and in the last 12 months the opening has been 17 net stores, which represented a growth of 0.2% in the sales floor area; This growth includes adjustments to the sales floor of some branches due to renovations.
Regarding total sales in the United States, these grew 28.9%, going from 30,307 million pesos in 2021 to 39,077 million pesos in 2022, given the incorporation of the Smart & Final price club.
And regarding the real estate division, revenues in the third quarter of the year grew 18.6%, registering 297 million pesos, above pre-pandemic levels, which confirmed a fully recovered segment. During the last 12 months, 12,899 m² of profitable area were incorporated, which represents a growth of 3.1%. This division is in charge of marketing premises with third parties for sale or rent, as of September 30, 2022 it has an area of 424,608 m².
In the pie chart, the self-service operation in Mexico represents 39.2% of sales participation, while the operation in the United States takes 60.3% and the real estate area 0.5%.
At the end of the quarter, the company registered a net debt of 8,422 million pesos, which was contracted by the United States operation. Until now, Chedraui operates 203 Chedraui stores, 68 Super Chedraui stores, eight Super Che stores, 71 Supercito stores, as well as 17 Smart & Final stores in Mexico. In the United States, it has 64 El Super stores, 59 Fiesta stores and 252 Smart & Final stores.
