Grupo Éxito recorded Consolidated Net Revenue of COP$3.7b during 2Q21

27 of July of 2021

Grupo Éxito recorded Consolidated Net Revenue of COP$3.7b during 2Q21 and a strong Group’s Net Result of COP$50,744 million, confirming a trend of profitable growth.

E-commerce and direct commerce channels achieved a 10.5% consolidated share on total sales, and innovative formats (Éxito Wow, Carulla FreshMarket, Super Inter Vecino) continued leading growth.

Consolidated Net Revenue grew by 1.8%, excluding FX effect, in a quarter marked by store closures in different cities, due to COVID-19 restrictions
and social protests in Colombia. 

The company increased its recurring EBITDA margin to 8.3%, as a result of controlling the operation's spending in all countries, the higher contribution of the real estate and financial businesses, optimized financial expenses and adaptability of the business to new global trends. 
Grupo Éxito joined the National Vaccination Plan in Colombia to the care for of its employees and their families; the VIVA shopping malls were established as vaccination centers.

The company continued committed to the country and its economic revival, promoting sustainable trade through direct purchasing from local farmers and peasants and the local manufacturing  of apparel.

  • Sales of e-commerce and direct commerce channels in Colombia reached COP$335,000 million in the quarter and a share of 12.6% in total sales in the country.  

  • The innovative formats Éxito Wow and Carulla FreshMarket continued as flagship banners offering differentiated proposals; the first represented 23.7% of Éxito’s total sales and the second, 34.7% of Carulla’s.

  • The performance of the new Super Inter Vecino format confirmed the assertiveness of its implementation and represented 22.7% of the brand's total sales in the quarter.

  • The strategy of diversification through complementary businesses mainly financial and real estate, continued to contribute to the result, the latter with an occupation rate of 91.9% in Colombia.

  • The path of gradual recovery of the economy in Uruguay was capitalized by our operation which posted significant levels of profitability, with a recurrent EBITDA margin of 9.5%, benefitted from increased retail margins and strict control of expenditures.

  • Sales of e-commerce and direct commerce channels in Uruguay weighed 4.4% and stores under the FreshMarket model grew sales by 10.9%.

  • In Argentina, sales in local currency rose above the CPI level amidst a challenging context; e-commerce and direct commerce channels represented 2.7% of total sales in the quarter.

  • In order to contribute to child nutrition, Fundación Éxito initiated a project to support community mothers in Cali who work with 2,400 children. 

  • With the objective of promoting the preservation of employment and working capital to suppliers, the company has, since March 2021, anticipated payments to 1,000 small and medium suppliers, contributing to their sustainability.  

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

Grupo Éxito reached consolidated revenue of COP$3.7 billion during 2Q21, growing 1.8% excluding FX effect, in the midst of an increase in restrictive measures, in the countries where we operate, to mitigate the spread of COVID-19. This performance reflected the gradual recovery of complementary businesses, mainly real estate and financial, the consistent growth in the region of e-commerce and direct commerce channels, that weighed 10.5% over the company's total sales, as well as the performance of innovative formats during the year-to-date.

Grupo Éxito recorded a consolidated recurrent EBITDA of COP$306,557 million and the margin increased to 8.3% (+18 bps), thanks to the royalties received from Tuya credit card, the greater contribution of the real estate business and the resilient performance of the retail business.

The Group’s Net Result reached COP$50,744 million, compared to COP$12,787 million in 2Q20, driven by the optimization of financial and other non-recurrent expenses.

“Despite the mobility restrictions and social protests of recent months, Grupo Éxito maintained consistency in the development of its innovative formats, e-commerce model, deliveries and the strengthening of complementary businesses such as financial and shopping malls and the loyalty program Puntos Colombia. Innovation is more important today than ever, and consumer trends in combining physical and virtual purchases give us an advantage that we want to continue capitalizing on.  We are aware of the current great challenge of building up our nation and therefore continue to invest in child nutrition through the Fundación Éxito, the local procurement to farmers and micro-entrepreneurs and the commitment to the planet promoting the recycling of plastic and cardboard packaging and a culture of using reusable bags. A sustainable company today has to complement its financial strength, with a decisive contribution to the community in which it operates and to the planet through environmental care,” said Carlos Mario Giraldo Moreno, Grupo Éxito CEO.

Consolidated operational results - Grupo Éxito
All figures expressed in millions of Colombian pesos (COP$)




In Colombia, omni-chanel, differential formats and complementary businesses leveraged results, despite mobility restrictions to mitigate COVID-19 and store closures due to protests in the country. 

In 2Q21, the company's sales performance was negatively affected by increased mobility restrictions to mitigate COVID-19, especially in April, and store closures due to protests and social unrest during May and June. However, innovative formats Éxito Wow, Carulla FreshMarket, Super Inter Vecino and cash and carry with Surtimayorista, e-commerce, and the recovery of the real estate and financial businesses, helped minimize the impact. To highlight:

  • Innovative and differential formats:

Éxito Wow opened “Éxito Nuestro” in Bogotá, thus reaching 12 stores in total in the country; the model represented 23.7% of the total sales of the brand during the quarter.

Carulla FreshMarket, reopened the doors of a new store in Bogotá, Carulla Santa Barbara, reaching 15 in the country. Carulla FreshMarket recorded 34.7% of the brand's total sales.

Super Inter Vecino, the brand's new model that boosts local procurement, quality fruits, vegetables and meats, reached 21 stores in Valle del Cauca and the Coffee Region. During 2Q21, Super Inter Vecino accounted for 22.7% of the brand's total sales.

Surtimayorista, the cash and carry banner, performed better in the quarter, thanks to the opening of the business of institutional customers in the country and represented 4.9% of the company's sales in Colombia.

  • Sales of e-commerce and direct commerce channels reached close to COP$335,000 million in 2Q21 with 12.6% share of company's total sales. In this period, nearly two million deliveries were made through,, Éxito and Carulla mobile Apps, Click & Collect, Digital Catalogs, WhatsApp, Marketplace and Last Mile. Grupo Éxito continues to strengthen the capacity of these channels, which grew by 21.5% year-to-date. 

  • The consistent contribution of complementary businesses, mainly real estate with a portfolio of 34 assets and an occupancy rate of 91.9% as of June 2021. Viva Envigado became  the country's largest multi-vehicle access vaccination center.  In addition, the financial business reached 80,000 new credit cards issued in the quarter to a total of 2.7 million cards placed in the market. This business unit continued to enhance its omni-channel and promotional strategy through synergies with Grupo Éxito's digital ecosystem and with other businesses such as Puntos Colombia.

The recurrent EBITDA margin for the operation in Colombia was 8.8% (+27 bps) on Net Revenue in 2Q21 and 8.5% (+133 bps) year-to-date, higher than the level recorded in 2Q20 and 2Q19; this reflected operational efficiencies and resilience to social impacts along the year.

Initiatives of commitment to the country, its children, peasants, the environment and diversity

  • The company is developing an early childhood technical training project (contributing to Colombia's comprehensive early childhood care policy) to 200 community mothers who benefit 2,400 children and their families in the comunas (districts) 11, 12 ,13, 14, 15, 16, 18 and 21 in Cali. The project’s partners include the Carvajal Foundation, Limmat Foundation (Swiss cooperation), ICBF (Family and Children Colombian Institute) and Fundación Éxito. 

  • In order to promote sustainable trade through direct procurement from farmers and peasants in the country, Grupo Éxito, in partnership with the Ministry of Agriculture and Sustainable Development, and the Rural Development Agency, implemented actions to bring them closer to businesses and supermarkets and to facilitate the direct commercial link with end consumers. In this way, 91.9% of the fruits and vegetables sold at that Grupo Éxito were purchased in the country, and 83% acquired directly from Colombian farming communities and producers, confirming our commitment to the development of the country's rurality, unions and collaborative work.

  • Autos Éxito, the new alliance of Grupo Éxito and Grupo Bancolombia, came to join the environmental impact solutions of the two companies with 20 Electric cars for long-term rental and 40 more units for daily rental. 

Seeking to promote the preservation of employment and working capital of suppliers, the company has anticipated payments to 1,000 small and medium-sized businesses, as of March 2021. 

In Uruguay, the company maintained a high level of profitability amidst a gradual recovery of the economy due to impacts of COVID-19

Grupo Éxito's operation in Uruguay registered a 3.2% sales growth in local currency, compared to 2Q20, thanks to: the implementation of commercial strategies, the 5.4% growth of e-commerce and direct commerce channel compared to the same period last year (representing 4.4% of total sales in the country), and the solid sales performance of stores operating under the FreshMarket model, which grew 10.9%.

The recurrent EBITDA margin was 9.5% as percentage of Net Revenue, thanks to efficiencies at retail level and strict control of expenditures. 

In Argentina, the operation performed better despite restrictions in the country

The macroeconomic context of Argentina continued affected by a high level of inflation (48.7%), coupled with the impact of mobility restrictions and confinement by COVID-19. Despite this, the operation recorded 50.6% sales growth in local currency in the quarter, thanks to commercial strategies and implementation of e-commerce and direct commerce channel services that weighed 2.7% of total sales in this country during the quarter.

In addition, there was a greater contribution from the real estate business despite a slow recovery in the commercial activity, which kept occupancy rates at 89% as of June 2021.

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