Organización Soriana (SORIANA) Q3 2023 earnings summary

Executive summary

• Q3 total income reached $42.930bn, up 3.2% YoY; same-store sales rose 2.7%.

• Net income was $984m, up 1.7% YoY, while EBITDA increased 1.5% to $2.674bn and its margin contracted 10 bps to 6.2%.

Financial highlights

• Q3 net sales were $42.930bn, up 3.2% YoY; gross profit rose 7.7% to $9.623bn.

• Q3 operating income was $1.781bn, down 2.0% YoY; net income was $984m, up 1.7%.

• 9M net sales increased 4.9% to $126.714bn; EBITDA rose 1.1% to $8.665bn, while net income fell 7.1% to $2.861bn.

Segment performance

• Soriana Mercado and Express formats recorded the strongest sales performance among store formats during Q3.

• At quarter-end, 802 units operated across core formats, up from 800 YoY; Sodimac had 13 units versus 10, with sales floor area up 19.9%.