Press release 3Q21

03 of November of 2021


Grupo Éxito recorded consolidated net revenue of COP4.16 billion in 3Q21, a growth of 15% compared to 3Q20, excluding FX effect.

The Group Net Result rose to COP126,315 million, 2.4x compared to 3Q20.

In Colombia, the company sold over COP3 billion, a 14.3% growth, the best quarterly increase in recent years.

During this quarter, Grupo Éxito increased recurrent EBITDA by 41.7%, to a margin of 8.5%, thanks to its strategy focused on innovation, omni-channel and the optimal control of expenditures in the three countries.

The consistency of the omni-channel strategy in Colombia allowed a 12.2% share on total sales YTD.  E-commerce showed that it is a trend that “came to stay.” 

With sustainability as an axis of action, Grupo Éxito continued to implement actions to reduce and mitigate the impact of its operation such as including renewable energies as part of store reforms, among others.

The company continued committed to the country and its economic revival, promoting sustainable commerce through direct procurement from farmers and peasants.


  • Sales of e-commerce and direct commerce channels in Colombia reached more than COP34.4 billion in the quarter, a share in total sales of 12.2% year-to-date.  
  • Innovative Éxito Wow and Carulla FreshMarket formats continued as important levers of differentiation and competitiveness; the first accounted for 27.8% of total Éxito sales and the second, for 36.2% of Carulla sales.
  • The diversification strategy of complementary businesses, mainly the financial and the real estate, continued to contribute to results.  In September, the occupancy rate for shopping centers reached 92% in Colombia and 89% in Argentina.
  • The gradual recovery of the economy in Uruguay granted a higher recurrent EBITDA margin for the operation in the country (10.1%), benefitted from higher productivity, improved commercial margin and strict control of expenditures.
  • The share of sales of electronic and direct commerce channels in Uruguay was 3.5% and stores operating under the Fresh Market model grew their sales 3.8% more than non-refurbished stores.
  • In Argentina, Grupo Libertad's sales in local currency grew 58.1%, above the high level of inflation, benefitted from the economic recovery; the best performance of the food business and e-commerce and direct channels, (a 2.7% share in total sales).
  • In Colombia, Fundación Éxito promoted a virtual #Lactaton and brought together more than 40 women who shared images breastfeeding their babies. This initiative promotes breastfeeding as a mechanism for the reduction of child malnutrition.


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

During the quarter, Grupo Éxito posted a consolidated net result of COP126,315 million, 2.4x higher than 3Q20, driven by strong income growth and optimization of cost and expenditure levels. The Group recorded a consolidated recurring EBITDA of COP353,514 million with a margin of 8.5%, thanks to the strong retail sales growth and the contribution of the financial and real estate businesses.

The economic revival in the three countries where Grupo Éxito operates favored an atmosphere of optimism and trust.  Thus, consolidated revenue during the quarter reached COP4.16 billion, a growth of 15.0% compared to 3Q20 excluding the FX effect.  Sales growth in Colombia was the highest since 2007. The dynamism of the economy also allowed the gradual recovery of complementary businesses, mainly real estate, finance and travel. The consolidation of innovative formats and increased participation of e-commerce and direct commerce channels reached 10.1% of the company's total sales YTD.

Carlos-Mario-Giraldo-presidente-Grupo-Éxito“We are optimistic about this quarter’s performance, beyond to what we expected, from the effort to invest in our innovative formats (Éxito WOW, Carulla FreshMarket and Superinter Vecino) and the consistency of the omni-channel strategy focused on creating frictionless experiences for our customers. We also take advantage of a positive business environment in Colombia, with consumer confidence that leverages growth with social and environmental equity. Complementary businesses, such as finance, real estate, travel and Puntos Colombia continued to leverage results. The economic revival and the easing of restrictive measures have encouraged the gradual recovery in the three countries where we operate.  We will continue to place our efforts on nation-building by investing in child nutrition, supporting the purchase of locally produced fruits, vegetables and textiles, promoting fashion with social sense, and promoting care for the planet through the recycling of cardboard and plastics and the implementation of renewable energies in our operations,” stated Carlos Mario Giraldo Moreno, Grupo Éxito CEO.


Consolidated operational results - Grupo Éxito

All figures expressed in millions of Colombian pesos (COP)

Press Release 3Q21


In Colombia, consistency in omni-channel strategy, differentiated formats and complementary businesses, leveraged results.

The economic reactivation of the country has been positive for the performance of our retail business, boosted by the investments made for the continuous improvement of the customer experience and the renovation of the physical stores, mainly with innovative and convenience formats. In addition, the recovery of real estate and financial businesses helped leverage the company's revenue growth.

The recurrent EBITDA margin for the operation in Colombia was 8.7% , +200 bps, compared to the same period of 2020 and 8.5% YTD.  The higher levels compared to those reported in 2020 and 2019 reflected the operational efficiencies achieved in the midst of a recovery in consumption due to the economic revival of the country. Actions to highlight:

Innovative and differentiated formats

  • Éxito Wow reached 16 stores in the country YTD and accounted for 27.8% of the brand's total sales in the quarter.
  • Carulla FreshMarket reopened a store, completing 16 stores under this format, and recorded 36.2% of the brand's total sales in the quarter.
  • Super Inter Vecino, the new model of the brand that powers local procurement of quality fruits, vegetables and meat, accounted for 34.2% of the total sales of the brand YTD.
  • Surtimayorista, the cash and carry banner, completed five years of operation in the country with 34 stores. During the quarter, comparable sales of the format grew 45.7%. In the first nine months of the year, Surtimayorista participated with 4.5% of the total sales of Grupo Éxito in Colombia.


E-commerce and direct-commerce channels reached sales of more than COP1 billion YTD and more than COP344,000 million during the quarter. The cumulative share on total sales was 12.2%, reflecting a growth of 7.8 percentual points compared to 3Q19. During the first nine months of the year, more than 5.8 million orders were made through,, mobile applications Éxito and Carulla, Click & Collect, Digital Catalogs, WhatsApp, Marketplace and last mile. The company continued to invest in its e-commerce and direct commerce channels, during this period launched Viva Online, the first social e-commerce in Colombia.

The consistent contribution of complementary businesses leveraged results. The real estate business, with a portfolio of 34 assets, reached an occupancy rate of 92% as of September 2021 (+30 bps vs December 2020) and venues were also used to deliver more than 360 thousand doses of the COVID-19 vaccine between May and October. The financial business reached 120,000 new cards issued in the quarter, reaching 2.7 million cards. This business unit continued to enhance its omni-channel and promotional strategy through synergies with the digital ecosystem of Grupo Éxito and with other businesses such as Puntos Colombia.

Actions that reaffirm our commitment to child nutrition, the reconstruction of the social networking and economic revival.

  • The health of employees of the company has been top priority.  Accordingly, Grupo Éxito signed an agreement to acquire COVID-19 vaccines and thus contributed to the national vaccination plan. 100% of the staff enrolled in the company's vaccination program was immunized during this quarter.
  • The #Lactaton led by Fundación Éxito and promoted by the “Gran Alianza por la Nutrición”, acknowledged breastfeeding as a natural gift to boost the growth and development of children and contributed to the great goal of zero-malnutrition. In this edition, the program recorded more than 40 thousand pictures of women breastfeeding their babies.
  • Innovation, sustainability, competitiveness and technology: These are the milestones to develop Parque Siberia, the new logistics complex of Grupo Éxito, which integrates the Fruit and Vegetable Distribution Center for the Food Industry. The Distribution Center,  of 28,240 m2 total area located in Tabio (Cundinamarca) will supply 499 stores distributed in Antioquia, and the Central, Caribbean, Western and Coffee regions.
  • Grupo Éxito was recognized as a leading open innovation company and ranked first in the retail category in the 100 Open Startups Ranking led by 100 Open Startups in partnership with Connect Bogotá.


In Uruguay, operational performance was positive in the midst of a gradual recovery of the local economy.

During the quarter, Grupo Éxito's operation in Uruguay recorded sales growth of 1.8 % in local currency compared to 3Q20 and participated with 16.3 % of the Group's total sales. In addition, e-commerce channels grew 23.8% and represented 3.5% of total sales in the country. Likewise, the fresh market format registered a strong share of total sales of 43.2%. Recurrent EBITDA reached a margin of 10.1% on income of the Uruguay operation, thanks to operational efficiencies and strict expenditure control.

In Argentina, the operation performed better thanks to the gradual reopening of the country.

Argentina's macroeconomic context continued to be affected by a high level of inflation that reached 50.1%. However, the company's operation in that country registered sales growth of 58.1% in local currency in the quarter, thanks to the reactivation of the country, the easing of mobility restrictions and the reopening of entertainment activities. The evolution in sales reflected the improved retail business performance explained by the food business and the evolution of e-commerce and direct commerce channels that accounted for 2.7% of the total sales for the quarter in this country. The real estate business made a greater contribution in the quarter and maintained occupancy levels of 89% as of September 2021.