Cencosud (CENCOSUD) Q3 2024 earnings summary

Executive summary

• Net income rose 95.2% year-over-year in Q3, reaching CLP $88,384 million (USD 95 million).

• Year-to-date revenue grew 6.8% to CLP $11,671,556 million (USD 12,450 million).

• Growth driven by Own Brands, higher US sales, and expansion in online and Prime programs.

Financial highlights

• Q3 reported revenue was CLP $3,770,679 million (USD 4,049 million), down 1.4% year-over-year due to hyperinflation adjustments in Argentina.

• Excluding Argentina's hyperinflation adjustment, revenue grew 4.1% year-over-year.

• Adjusted EBITDA increased 0.8% year-over-year; EBITDA margin rose 20 bps to 9.0%.

• Distributable net income surged 309.5% to CLP $67,967 million (USD 73 million).

• Excluding Argentina, consolidated EBITDA rose 17.1%, led by Chile and Peru.

Outlook and guidance

• Strategic focus on accelerating growth, profitability, and capital optimization across markets.

• Continued investment in capabilities and retail ecosystem to maintain industry leadership.