Grupo Éxito results, first quarter 2021

04 of May of 2021

Grupo Éxito's net revenue in 1Q21 was impacted by mobility restrictions and strict closures to contain COVID-19; consolidated sales decreased 4.1%, excluding FX effect

Grupo Éxito improved profitability levels aided by the contribution of real estate, performance of innovative formats (Éxito wow and Carulla FreshMarket), the dynamism in the e-commerce and direct commerce channels, and the diversification of its businesses

Delivery sales and e-commerce weighed 10.7% in the consolidated figures, which places Grupo Éxito as one of the leaders in digital penetration in Latin America

The Group’s net income totaled COP85,000 million, mainly boosted by the material contribution from complementary businesses in Colombia, especially real estate, and the rigorous work in productivity and spending control

Grupo Éxito continued its commitment to strengthen biosecurity and social distancing measures in its stores, caring for the health of employees, customers and suppliers

The organization maintained focus in favoring vulnerable children by delivering more than 42,000 protein-rich baskets and supporting Colombian peasants through local procurement 

Grupo Éxito reiterates its commitment to local procurement, at a time when the country requires job generation

More than 1,000 medium and small suppliers and manufacturing family-owned companies (employing more than eight thousand people) received in advance payments to protect their employment and working capital levels

According to Merco survey, Grupo Éxito was recognized by Colombians as the third largest contributor during the pandemic in the country

  • The direct and electronic commerce channels in Colombia reached a 13% share in total sales in the country, thanks to the company's improved service and increased coverage to meet customer needs.
  • Éxito Wow and Carulla FreshMarket models continued ratifying their importance for market differentiation and both had a 19.7% share of the company's total sales in Colombia.
  • The negative impact of the financial and real estate businesses in 2020 reverted in 1Q21.
  • Uruguay reported high levels of profitability from cost-cutting activities and operational efficiencies (a recurrent EBITDA margin of 10.3%) in spite of border closures that affected the summer holiday season.
  • In Argentina, sales continued resilient amid a challenging context, and grew by double digit in local currency.
  • Grupo Éxito continued strengthening biosecurity measures to take care of employees, customers and suppliers. Trust and protection of people are the top priorities of the company.
  • Fundación Éxito delivered more than 42,000 protein baskets in the first quarter of the year.
  • The company continued supporting small suppliers within advance payments to promote employment and maintain adequate working capital in these companies.
  • The company was recognized by Merco as one of the three most responsible organizations during the pandemic in Colombia.

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

In Colombia, Uruguay and Argentina, authorities continued to implement measures to contain COVID-19 and further commerce closures, which impacted Grupo Éxito's operation during the first quarter of the year. Nevertheless, the strengthening of e-commerce and direct commerce channels, which already account for 10.7% of total sales in the region and innovative models as Éxito Wow in Colombia and FreshMarket formats in all countries, contributed to some extent to the mitigation of such effect. Both strategies have been developed with consistency over time and showed their relevance. 

Although revenue was affected, Grupo Éxito recorded a consolidated recurrent EBITDA of about COP307,000 million, mainly favoured by the growth of expenditures below inflation in the three countries, the royalties received by TUYA and the non-recurring income received by the closing of the development of the Envigado and Tunja real estate projects.

During the quarter, the company recorded higher income tax payments and financial expenses. However, net income reached COP85,000 million, boosted by the optimization of spending in all countries and the contribution of the diversification strategy that favored income from the real estate and the financial businesses.

Consolidated revenue decreased 1.9% and sales 4.1%, both excluding FX effect, with a reduction in sales explained by the higher comparison basis, as the starting of the pandemic in mid-March led to accelerated sales growth in the region. In addition, mobility restrictions were increased to contain levels of contagion and border closures occurred.

At Grupo Éxito, we have maintained and strengthened all possible biosafety measures to care for employees, customers and suppliers.  We continued to promote local purchasing to generate opportunities for our peasants and worked towards the eradication of chronic child malnutrition. We understand the importance of giving the maximum possible and to be supportive among all. The strengthening of our e-commerce and direct commerce channels and innovative formats as Éxito Wow in Colombia and FreshMarket in the region, contributed to some extent to mitigate the impact of store closures. Thus, in the midst of this difficult scenario for the industry and commerce, Grupo Éxito´s improved operating performance derived from the consistency of its business diversification strategy and control of expenditures in the region,” explained Carlos Mario Giraldo Moreno, Grupo Éxito CEO.

Consolidated operational results - Grupo Éxito

All figures expressed in millions of Colombian pesos (COP)


In Colombia, there was a positive performance, leveraged by innovative formats, e-commerce channels, and complementary businesses, in spite of mobility restrictions and store closures  

Increases in mobility restrictions and closures decreed by the authorities to minimize the pandemic, impacted Grupo Éxito's sales performance in 1Q21.

During the first quarter of 2020, customers accelerated their purchases with the advent of the pandemic (Coronavirus effect*) and modified their purchasing habits toward virtual channels. As a result of this new trend, Grupo Éxito strengthened its direct and electronic commerce channels, which represented a 13% share on total sales in Colombia in 1Q21.

E-commerce and direct commerce channels highlights during 1Q21:

  • E-commerce: and had more than 37.2 million visitors.
  • Marketplace: reached close to 1,000 suppliers and accounted for 14% of total sales of e-commerce and direct commerce channels, with more than 18,000 units sold.
  • Delivery: our delivery service accounted for 38% of total orders from electronic and direct channels; total deliveries and last mile service totaled 2 million orders.
  • Click&Collect: reached a 31% share on e-commerce and direct commerce channels sales. 

 Format innovation was also a key differentiator and innovative models Éxito Wow and Carulla FreshMarket, represented 22.9% of total sales of the Éxito and 31.6% of the Carulla brand, respectively.

Both formats had a 19.7% share of the company's sales in Colombia.

Actions to remain committed to the country, its children and peasants

  • During 1Q21, Fundación Éxito delivered more than 42,000 protein baskets in 26 states of the country, including Arauca (for first time) and San Andrés. In addition, Fundación Éxito invested more than COP230 million for the re-opening of the “Little Angels” Child Development Center in Providencia, in an alliance with the Presidential Council for Children and Adolescents and the ICBF. See more.

Moreover, Carulla and Agencia Interna (institution led by Johana Bahamón), donated 1,200 protein baskets for children of women in jail, thanks to the #HagámosloMásFresco campaign.

  • The company promoted buying local as a path of opportunity for Colombian agriculture and developed an initiative with the Rural Development Agency to implement actions to bring small producers closer to our customers and avoid intermediation. See more.

Likewise, through the purchase of 6,000 kilograms of ñame (yam) from the farmers of the Constructores de Paz Foundation, Grupo Éxito contributed to the generation of employment of the farmers who have been victims of the armed conflict in the region of the Montes de María. See more.

  • Committed with the environment, the implementation of the Soy RE allowed customers to properly dispose of their trash in post-consumption zones, to close the packaging cycle. During 1Q21, more than 130 tons were received which compares to the 13 tons reported in the same period of 2020.
  • Grupo Éxito created possibilities for working together with entrepreneurs in the country, through initiatives such as the Factory of Innovation of Carulla. See more.
  • Biosafety measures strengthened at stores and at e-commerce and direct commerce channels. See more.
  • Grupo Éxito was recognized as one of the three most responsible organizations in Colombia during the pandemic by the Corporate Reputation Business Monitor (MERCO, for its acronym in Spanish). See more.

In Uruguay, the company maintained high profitability amidst significant impacts from a weak holiday season.

Grupo Éxito's operation in Uruguay recorded a 3% decrease in sales in local currency and excluding calendar effect in 1Q20, mainly due to the impact of border closures that occurred during the holiday season, especially in December and January, and mobility restrictions in major cities. This effect was partially offset by better non-food sales and the sales growth of e-commerce channels that accounted for 3.3% of total sales in this country.

In Argentina, results were impacted by mobility restrictions to control pandemic

The operation in Argentina continued to strengthen its digital channels (1.9% share), which partially offset the effect of mobility measures and lower consumer confidence on total sales (grew 21.2% in local currency).

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