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Cencosud (CENCOSUD) investor relations material
Cencosud Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved revenue growth in five of six operating countries, with consolidated revenue up 1.2% year-on-year excluding Argentina's accounting adjustments.
Margin expansion returned to double-digit levels, and distributable net income more than doubled year-over-year.
Opened eight new stores in Q4, completed 20 for the year, and expanded private label penetration to a record 18.9%.
Advanced digital, omnichannel, and customer engagement initiatives, including Fast Checkout and expanded Cenco Media offerings.
Regulatory approval received for sale of Colombian service station network; financial closing expected in Q1 2026.
Financial highlights
Quarterly Adjusted EBITDA increased 4.2% year-on-year (excluding Argentina), with margin returning to double digits.
Distributable Net Income for Q4 more than doubled to CLP 91,181 million; full-year up 67.2% to CLP 227,718 million.
Net leverage decreased to 3.2x, or 3.1x excluding one-off productivity plan expenses.
Ended year with $960 million in cash and cash equivalents; 55% of debt matures beyond five years.
Online sales rose 8.0% YoY, with four of six countries posting double-digit growth.
Outlook and guidance
2026 guidance: consolidated revenues of CLP 1,740 billion (+3% YoY), Adjusted EBITDA of CLP 1,715 billion (+13.6% YoY), and margin of 9.9%.
CapEx plan of $600 million for 2026, with 35-40% for new stores, 15-20% for renovations, 30-35% for shopping centers, and 10-15% for digital and productivity projects.
Plans to open 17-20 new supermarkets (including 7 in the US) and add over 40,000 sqm of gross leasable area in shopping centers.
Focus on profitable growth, ecosystem development, and disciplined capital allocation.
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