La Comer (LACOMER UBC) investor relations material

Executive summary

• Q2 2026 net sales rose 5.7% YoY and same-store sales grew 2.9%; gross margin expanded 67 bps, while operating profit, EBITDA and net income declined.

• H1 sales increased 7.0% and same-store sales 4.1%; gross margin reached 30.0%, while EBITDA fell 3.6% and net income fell 8.1%.

• Growth strategy focused on customer value, e-commerce, store expansion, supply-chain productivity and organizational agility amid sluggish consumer conditions.

Financial highlights

• Q2 net sales were MXN 12,933m (+5.7% YoY); gross profit was MXN 3,802m (+8.2%).

• Q2 operating profit was MXN 932m (-9.2%), EBITDA MXN 1,331m (-7.2%) and net income MXN 671m (-16.4%).

• H1 net sales were MXN 24,940m (+7.0%); gross profit was MXN 7,481m (+8.9%).

• H1 operating profit was MXN 1,934m (-3.9%), EBITDA MXN 2,719m (-3.6%) and net income MXN 1,413m (-8.1%).

Outlook and guidance

• Management expressed confidence in continued sustainable, profitable growth and commitment to maintaining performance for the balance of the year; no numerical guidance was stated.

• Store expansion is planned at roughly one opening per quarter, balanced across formats and dependent on securing strong locations; capital availability has not constrained development.

• E-commerce remains a contributor to profitable growth, supported by platform and technology improvements and collaboration with satellite partners.

• Omnichannel investment supports scheduled delivery, store pickup, on-demand delivery partnerships, retail media and customer experience.