Press Release 4Q21

22 of February of 2022
Banner Grupo Éxito

Grupo Éxito's consolidated net revenue in 2021 reached COP16.9 billion (+7.5%), boosted by a major macroeconomic and operational recovery in the countries where the Company operates.

Consolidated sales grew 7.1% compared to the previous year, excluding the FX effect. In Colombia, sales grew 5.5% and totaled COP12.3 billion pesos, driven by the performance of innovative store formats, omni-channel, and the recovery of real estate and financial businesses.

Annual Consolidated recurrent EBITDA reached COP 1.5 billion (+20.7%) to a 9.1% margin. Operational improvement was the result of a customer-centered strategy, innovation, omni-channel and the offering of complementary services, both physically and virtually.

At the end of 2021, Grupo Éxito Consolidated Net Income was COP 474,681 million, 2x versus 2020, from operational improvement and good commercial dynamics.

On-line and direct channels in Colombia accounted for 11.9% of sales and totaled COP1.5 billion in 2021. At the consolidated level, omni-channel accounted for 9.9% of the Group’s total sales.

For 2022, the Company will continue its expansion plan of innovative formats (Éxito Wow, Carulla FreshMarket, Super Inter Vecino, Sutimayorista and Surtimax) of between 50 and 60 stores in Colombia (including 6 hypermarkets from La 14).

Grupo Éxito continued to strengthen its strategy to operate responsibly and in a sustainable manner.  To highlight, the promotion of sustainable trade through direct purchasing directly from farmers and peasants, support for child nutrition, and the neutral carbon certification granted by ICONTEC to Carulla FreshMarket, which positions it as the first certified food retailer in Latin America. 


  • Sales in Colombia grew 5.5%, reaching COP12.3 billion, benefited by the development of omni-channel and the performance of innovative formats.  
  • Omni-channel in Colombia reached sales of COP1.5 billion and 7.8 deliveries. The share of omni-channel sales in Colombia reached 11.9%, which can be considered among the highest in the region.  
  • Innovative formats consolidated and reached a 33.3% share on total sales in Colombia.  By brand, the Éxito Wow stores represented 29.6% of sales, Carulla FreshMarket 45.1%, Super Inter Vecino 47.7%, and Surtimayorista participated with 4.6% of the Company's total sales.
  • To highlight the gradual recovery of the real estate and financial businesses in Colombia, with Tuya, which were important contributors to income.
  • The Uruguay operation registered a recurring EBITDA margin of 10.2% and continued as the Group's most profitable operation. Omni-channel sales grew 9.8% in local currency and accounted for 3.6% of total sales in that country. 
  • In Argentina, the operation had significant increases in revenues (+46.8%) in local currency, marked by the recovery of consumption and the real estate business. The country's recurrent EBITDA margin reached 3.4%, almost twice the one recorded in 2020.
  • During 2021, the company closed negotiations with Almacenes La 14 to acquire the commercial operation of five points of sale in the Valle de Cauca and Cundinamarca regions, where it expects to continue boosting employment generation and reactivation of local suppliers.


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

Grupo Éxito consolidated operating revenues in 2021 reached COP16.9 billion (+7.5%), driven by the dynamization of innovative formats, omni-channel (9.9% share on total sales), and the recovery of complementary businesses.

The operation in Colombia represented 77% of the Group's total revenues. Revenues in the country grew 7% compared to the previous year, leveraged by the contribution of innovative formats that accounted for 33.3% of sales and recovery of complementary businesses, mainly real estate, finance, and travel. International operations achieved revenues of COP3.9 billion, marked by a better economic and commercial dynamic that resulted in 12.7% growth, excluding FX effects.

The Group's profitability improved significantly in 2021; recurrent EBITDA grew by 20.7% to COP1.5 billion with a margin of 9.1%, compared to 8.1% the previous year. Net income was twice that reported in 2020, and reached COP474,681 million, from a solid retail business performance, the recovery of complementary businesses and more efficient operational and financial structures.

“2021 was a year marked by hope amid so many challenges.  In Colombia, the start of the year was complex, affected by store closures and unemployment. In Uruguay, we had the worst tourism season, and in Argentina we faced macroeconomic difficulties. However, the Group quickly adapted and managed to capture important opportunities. Thus, we closed the year with improvements in revenue and profitability, thanks to the strengthening of our digital strategy, supported in our store network, the consolidation of our innovative formats and the recovery of businesses as important as the real estate and the financial. During 2021, we worked on our ulterior purpose: “nurturing Colombia with opportunities,” through consistent activities to support child nutrition, local and direct purchasing from producers, and our suppliers, especially small and medium-sized enterprises. At Grupo Éxito, we are driven by hope, optimism, and the desire to be part of the dreams of Colombians and believe in the power of building a better country together. We know that acting integrally builds trust and that, today more than ever, we have to give the maximum possible to achieve balanced growth in economic and social aspects, as well as in the protection of our planet.

Carlos Mario GiraldoThe operation in Colombia achieved significant growth, 136 basis points in the recurrent EBITDA margin, from a more efficient operation.  The Uruguay operation continued to be the most profitable in the region with a margin of 10.2%, and in Argentina, the recurring EBITDA margin grew almost twice, to 3.4%, leveraged by the recovery of the real estate business in the midst of a challenging economic environment,” said Carlos Mario Giraldo Moreno, Grupo Éxito CEO.


Press Release 4Q21

In Colombia, the strengthening of omni-channel strategy, format innovation and complementary businesses leveraged results

Net Revenue in Colombia reached COP13 billion, a growth of 7% compared to that recorded in 2020 and above the inflation levels of the year. Sales grew 5.5%, reaching COP12.3 billion, driven by the performance of the retail business, benefited by investments made in the continuous improvement of the customer experience, and the renovation of the physical stores, mainly in innovative and convenient formats. The positive performance of the operation in Colombia was also leveraged on the dynamism generated by the economic revival of the country, which boosted consumption in stores and traffic in shopping malls that led the real estate business to a reach of 93% in occupancy levels.

Recurrent EBITDA grew 25.1% and exceeded COP1.2 billion, with a margin of 9.4% revenues exceeding the 8% of 2020. During 2021, the Company strengthened its retail business in the country by maintaining a strategy focused on three broad pillars:

1. Omni-channel, which achieved a strong share in sales of 11.9%. This result was leveraged on:

  • Double-digit growth in food sales through websites( and, apps, call center, WhatsApp and digital catalogs, that reached a 10% share.
  • The delivery of 7.8 million orders through different delivery alternatives.
  • The strengthening of the Click and Collect service with a 23.5% increase in sales and a 28% share on omni-channel sales.
  • The launch in partnership with Rappi of Turbo-Fresh Carulla, the new last mile service that delivers in less than 10 minutes.
  • To serve about 3,000 mom and pop stores through the mobile application MiSurti (share of 13.8% on Aliados sales).


2. Innovation in formats as a differentiation strategy to deliver superior customer experiences by accelerating expansion across all brands:

  • Éxito Wow opened 8 stores, reaching a total of 19 stores in the country; the format represented 29.6% of Éxito total sales in the year.
  • Carulla FreshMarket opened 8 stores and completed 22 stores, which recorded 45.1% of Carulla total sales in the year.
  • SuperInter Vecino, 25 stores under the new model that promotes local purchasing of quality fruits, vegetables, and meats, represented 47.7% of SuperInter total sales in 2021.
  • Surtimayorista, the cash and carry format, completed five years in operations and 36 stores in the country. The brand had a 25.2% sales growth compared to 2020. Its “Club del Comerciante” (Merchant Club) loyalty program reached more than 11,500 registered customers.


For 2022, the Company has an expansion plan on innovative formats, which includes conversions, remodellings and openings of between 50 and 60 stores (including 6 hypermarkets previously operated by La 14) and the investment in technology and logistics for digital sales and last mile deliveries. 


3. Monetization of traffic in stores and real estate assets continued to be a growth engine driven by economic and commercial recovery in the second half of the year, through the following businesses:

  • Real estate, benefiting from reduced mobility restrictions, reached occupancy levels of 93% and increased its income by 54% during 2021. Other strategies that contributed to its reactivation were the launch of “Viva Online” as a marketplace platform for tenants, “Click and Collect” and Viva homes. In addition, ten Viva shopping centers took part in the national COVID-19 vaccination program, where 475,750 doses were administered during the year.
  • Tuya reached 2.8 million of active cards and innovated via Tuya Pay, the digital wallet and microcredits that registered more than 800,000 users. This business continues to strengthen synergies with the Grupo Éxito digital ecosystem.
  • Puntos Colombia registered 5.5 million active customers, an increase of 17.3% compared to 2020.
  • Autos Éxito was launched, a car rental service and second-hand seller at some Éxito hypermarkets, in partnership with Renting Bancolombia.


A year to ratify the commitment to rebuild the social fabric and economic revival

2021 was a year to deliver the maximum possible and to strengthen community relationships, solidarity, and care for the planet. The following achievements are highlighted:

  • The Company continued to work towards achieving the first generation with zero chronic malnutrition in Colombia.  During 2021, nutritional baskets were delivered to more than 70,000 children in the country through the Fundación Éxito. In Siloé, in Cali, 200 community mothers were trained in early childhood care.
  • During 2021, Carulla FreshMarket was recognized by ICONTEC as the first Neutral Carbon food retailer in Latin America.
  • The company presented projects to contribute to the reconstruction of the social fabric, among them, the National Graffiti Fair “Urban Pigments”, which began with the delivery of three murals in Bogota and will reach 11 cities in the country; Terrazas Verdes, which was born as a food assurance project in Comuna 13 of Medellin; and the launch of the Johana Bahamon + People collection, represented by former inmates and relatives of people deprived of their freedom. In addition, textile production continued at the Yarumal prison in Antioquia. 
  • The company closed the negotiation with La 14 to acquire five points of sale in Valle de Cauca and Cundinamarca regions. These stores will be operated under the Éxito Wow format and are expected to generate close to 830 permanent jobs (680 direct and 150 indirect) to add nearly 5,300 jobs in this region.


The Uruguay operation remained the most profitable in the region

The operation in the country strengthened its value proposal of the FreshMarket model, which represented 45.2% of the sales in the country; four stores were renovated under this concept, reaching a total of 23 stores.  One of the main levers of growth during the year was the strengthening of digital channels, whose sales grew 9.8% in local currency and reached a share of 3.6% of total sales in the country. The recurring EBITDA margin reached 10.2% and remained the highest in the Group, thanks to constant cost control efforts and operational efficiencies.

In Argentina, the recurring EBITDA margin almost doubled, favored by the recovery of the real estate business

The operation in this country showed a growth in revenues of 46.8% in local currency, thanks to the greater dynamics of the real estate business that reached occupancy levels of 90.4%. Additionally, contribution was made by the performance of the retail business and the evolution of omni-channel, with a 2.6% share in sales. The recurrent EBITDA margin was 3.4% in 2021, almost double that recorded in 2020 (1.8%), because of strict expenditure control that grew below inflation.