Grupo Éxito Recorded 1Q Net Revenue of COP4 Billion, a 12% Growth(1), and a Recurring EBITDA of COP262,800 million with a margin of 6.5%

11 of May of 2020

Since the beginning of the COVID-19 health emergency, Grupo Éxito has made investments and implemented activities focused on three areas: care and protection of employees and customers, preservation of employment and the promotion of solidarity to strengthen the sustainability of the Company in the medium and long terms. 

Grupo Éxito dynamically promoted sales through virtual channels and home deliveries, trends that are reinforced by the market.

  • The Company's operations in Colombia recorded sales of nearly COP3 billion, with a 10.4% growth compared to the 1Q19. Sales excluding the COVID-19 effect grew 6.3%.
  • The results in Colombia were mainly leveraged by the positive figures of the innovative formats and the omnichannel strategy, which together, contributed more than 50% to the sales growth during 1Q20, isolating the impact of COVID-19.
  • E-commerce and home delivery channels in Colombia performed well and grew 44.6% and represented 5.2% of the Company's total sales, compared to 4.5% at the end of 2019.
  • Commercial efforts focused on expanding logistics and IT capacity to meet growth in virtual channels and home delivery, which increased by 36%.
  • In Uruguay, the company had a positive commercial performance with a 12.8% growth in sales, in local currency, driven by a better performance of the summer season, the omnichannel strategy and the fresh market model, which represented 43.5% of total sales.
  • In Argentina, sales increased by 48.7% in local currency, and recurrent EBITDA was COP4,900 million, up from COP1,534 million the previous year.
  • In Colombia, the Company made investments for the protection and safety of employees and customers during this time of contingency, which do not impact or compromise the medium and long term results, on the contrary, have transformed into trust levers among stakeholders and strengthened its sustainability over time. Also, in Uruguay and Argentina, measures were taken to protect the health of customers and employees in the midst of the pandemic.

Grupo Éxito’s Consolidated Results (Colombia, Uruguay and Argentina)

Grupo Éxito ended the 1Q20 with an increase in net revenues of 12%, excluding foreign exchange effects, compared to the same period last year, equivalent to more than COP4 billion. This result reflects the execution of innovative actions through the value formats (Éxito wow, Carulla FreshMarket and Surtimayorista), the omnichannel strategy in Colombia that promotes electronic and direct commerce channels and the optimal results of the operation in Uruguay showing a positive tourism season.

Consolidated sales growth was 12.9%, excluding FX effect and compared to the 1Q19. Excluding the COVID-19 effect, this growth would have been 8.6%, which shows a good performance of retail during common market conditions.

Consolidated recurrent EBITDA exceeded COP262,800 million with a 4%1 growth and 6.5% margin, even with the impact of COVID-19 in some complementary businesses, such as the real estate and the financial. The result reflects the increase in net sales and the control of expenses.

Net income was COP21,987 million, compared with a loss of COP13,574 million in 1Q19 and a margin over revenues increasing by 91 bps to 0.5%. This result reflects the positive variation in the operating performance of the international business units and the lower level of financial expenses.

“The Group's sales and financial results during the first quarter were driven by the retail business in Colombia, Uruguay and Argentina, by innovation in our formats and mainly by the strengthening of the virtual and home delivery channels. This helped to offset the impact of COVID-19 on complementary businesses, such as the real estate, the travel and the financial businesses.

We have concentrated efforts, resources, and priority, to execute all necessary actions for the immediate protection of the health and integrity of our employees and customers, and the preservation of employment, anticipating payments to our small and medium suppliers. We also contributed to the urgent solidarity with those most affected by the pandemic, especially through the Fundación Éxito which, to date, has granted more than 100,000 food packages for vulnerable children. This initiative has also created 600,000 family grocery shopping baskets at a price of COP16,000, with no profit for the Group. During this time, the country needs us more united than ever. At Grupo Éxito, we continue to work tirelessly for Colombia with our nearly 40,000 employees," said Carlos Mario Giraldo Moreno, Grupo Éxito CEO.

Consolidated Operational Results - Grupo Éxito

All figures expressed in millions of Colombian pesos (COP)









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Moreover, during the COVID-19 contingency, Grupo Éxito has made important investments for the protection and safety of employees and customers, which are great levers of trust for customers and employees, and for the continuity of the operation. Some of these actions in Colombia are as follows:

  • Creating trust, both in employees and customers, through the implementation of demanding protection, hygiene, and social distancing measures, such as —
    • The installation of 2,442 acrylic shields in 447 stores, for greater protection and less contact service.
    • Deep disinfection with manual spraying equipment in 524 stores throughout the country.
    • 1,300 thermometers for temperature control of our employees at all points of sale.
    • Provision of hygiene kits for employees consisting of gloves, mask, acrylic glasses and hydration.
    • Installation of antibacterial gel dispensers and disinfection processes for market trolleys and grocery baskets.
    • Allowance of a maximum number of people per point of sale.
    • Implementation of the “Buy and Collect” service in 366 stores, so that customers can perform virtual or telephone shopping and receive it free of charge directly at their means of transport.
  • We have concentrated efforts on preserving employment, one of our greatest priorities, by —
    • Prepayment of nearly COP60,000 million, to almost 867 SMB suppliers throughout the health emergency.
    • Progressive production of 20 million fabric face masks, in 50 of the workshops where we usually make our private label garments, which allows us to preserve around 3,000 jobs.
    • Relocation of close to 270 people to reinforce the operation, from areas of the company that have restrictions to operate, in order to maintain the nearly 40,000 jobs throughout the country.
  • Promoting solidarity at a time when the country needs us more than ever, through —
    • Provision of more than 600,0002  basic grocery shopping lists, at cost (COP16,000), with 12 products of a basic basket, to promote solidarity among Colombians.
    • Creation of the “Mercado para Colombia” card to be used for grocery shopping donations. For every COP50,000, the company contributes COP5,000 whose resources will be used for medical items to assist during the emergency.
    • Joint work with the Fundación Éxito, which has delivered 74,0002 in food packages worth more than COP5,300 million to protect early childhood.
    • Creation of exclusive shopping schedules for people over 60 years old, in a situation of disability and pregnant women.
    • Creation of the “Teléfono Blanco” (White Phone) as a recognition to health personnel, for prioritized service and free home delivery.

In our international operations, measures were also undertaken at physical stores, such as signage at cashiers to allow for physical distance between customers, installation of gel dispensers and priority attention for older adults.

In Colombia, the performance of retail, even without the COVID-19 effect, leveraged the Company's results.

During 1Q20, the Colombian operation recorded sales of nearly COP3 billion, with a 10.4% growth compared to the same period in 2019. Sales grew by 6.3% excluding the COVID-19 effect, mainly driven by the positive results of innovative formats and the omnichannel strategy. Together they contributed to more than 50% of the sales growth in the first quarter of the year, isolating the COVID-19 impact. Some of the main contributions to the results come from the following:

  • Innovative formats such as Éxito wow, whose sales grew 14.6% in 1Q, more than 2x as the rest of the brand's stores, now representing 17.8% of the brand's total sales. Also, sales of Carulla FreshMarket, with an increase of 24.7%, 11 percentual points above the rest of the stores and a share of 26.7% of the brand’s total sales. Finally, the sales of Surtimayorista, cash and carry format, grew 13.3% and represented 4% of Grupo Éxito's total sales in Colombia.
  • The omnicanal strategy, had an important performance and the business unit represented 5.2% of the company's total sales, compared to 4.5% FY2019. During the 1Q20, these e-commerce and direct channels increased their sales by 44.6% and orders by 36% compared to the same period last year, for a total of 1.2 million deliveries.

Some of the results to be highlighted are the following:

    • Mobile Apps registered 74,000 orders during 1Q20, and 4.7 million discount coupons were activated.
    • The e-commerce platforms and had more than 25 million visitors and increased their sales by 41% compared to 1Q19. The number of orders for the click and collect service increased by 72%, compared to the 1Q19. Meanwhile, last mile service deliveries grew 36% during the same period.
  • The Aniversario Éxito (Éxito Anniversary) event contributed significantly to the Company's results, thanks to a 13.5% increase in sales, compared to the same event held in  2019, and a 12.4% growth in the average ticket.

Grupo Éxito operations in Uruguay registered very positive results during 1Q20.

Grupo Éxito operations in Uruguay showed a positive commercial and operational performance in 1Q20. Sales grew by 12.8% in local currency (6.8% without the COVID-19 effect), thanks largely to the tourist season at the beginning of the year which exceeded all expectations, and to increased shopping during the contingency.

The fresh market model also made important contributions to the result during this period and represented 43.5% of the company's total sales in Uruguay. It also strengthened the virtual business which grew 39.3% and represented 2.4% of the company's sales in that country.

In 1Q20, the recurring EBITDA margin in Uruguay grew 10.1% in local currency, with a margin of 11.3% compared to 10.8% in 3Q19. 

The Company's performance in Argentina shows a progressive recovery, amid the country's challenging macroeconomic context.

The assertive execution of commercial strategies allowed for a solid performance of Grupo Éxito's operation in Argentina, recording an increase in sales of 48.7% in local currency (46.7% without COVID-19 effect).

Recurring EBITDA grew almost 3x during 1Q20, compared to the same period last year and the margin gained 101 bps to 1.7%.

(1) Excluding FX effect.

(2) Figures as of May 10, 2020.

Grupo Éxito Communications Department

Telephone (57+4) 6049696 Ext 306507 / Cell Phone 3146827148

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