EconomyFinancialThe opening of six stores increases Soriana's profits

The opening of six stores increases Soriana's profits

Soriana is going slowly, but surely. The company of the Martin Bringas brothers earned 1,820 million pesos (mdp), during the second quarter of 2022, which indicates an increase of 12.6% in its profits, when comparing the figure with the same period of the previous year, of 1,616 mdp .

In terms of revenue, the retailer managed to sell 41,735 million pesos, a growth of 6.6% compared to the second quarter of 2021, where it obtained 39,133 million pesos. Although the growth is measured, the retailer has not stopped increasing both its sales and profits.

If the accumulated is observed, so far this year, Soriana has sold 79,143 million pesos, that is, 7.1% more than the first six months of 2021, while profits have been 3,531 million pesos, that is, 226 million pesos more than the first semester of the previous year.

On the other hand, from January to June, the operating flow or Ebitda was 3,062 million pesos, which is equivalent to 7.3% of total revenues, a contraction of 10 basis points and an increase of 6% compared to the second quarter of 2021. The indicator same store sales for the quarter was 6.4%.

The retailer attributes these figures to the opening of six stores in the last 12 months, in which it has seen good customer acceptance. Also the good performance of the other stores it has in the country, especially in the Supermarket and City Club formats.

Soriana ends June 2022 with a total of 800 stores in the following formats: 369 Soriana Hiper, 163 Soriana Mercado, 127 Soriana Super, 105 Soriana Express and 36 City Club, with a presence in 282 municipalities in the 32 states of the Mexican Republic and 4 million square meters of sales floor area, distributed in the five formats.

Additionally, the company has the digital platform and an app where customers can buy general merchandise items and shop online with home delivery. However, in its financial report sent to the Mexican Stock Exchange, the minority does not detail the performance of these bets, inserted in electronic commerce.

Currently, Soriana carries out real estate activities that include the leasing and administration of premises that are part of the adjoining commercial area in the stores, as well as carrying out commercial developments.

At the end of the second quarter of the year, the company has a bank and stock market debt of 13,022 million pesos, which represents a decrease of 3,670 million pesos against last year. In net debt, the reduction was 26.5%.

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