Chilean chain Cencosud reduced its attributable net profit by 28.2% to 338,929 million Chilean pesos (393.3 million euros) in 2022, after posting a profit of 471,910 million pesos (547,5 million euros) in 2021.
Compared to 2019, the year before the pandemic, the company confirmed that profits doubled, at the same time as gross operating product (Ebitda) and sales turnover.
In general, the decrease compared to 2021, as the chain indicated, is due to the higher levels of 2021 and lower household consumption and liquidity, as well as lower “non-food” sales in the entire region.
In the words of Cencosud CEO Matías Videla, the company ends 2022 with a “strong performance” despite the scenario of economic instability in the different countries where
and the shift towards more austere and eclectic consumption patterns.
However, according to the company’s results report, revenue grew by 20.8%, to 14.2 trillion Chilean pesos (16,455 million euros), compared to 11.76 trillion pesos (13,626 million euros) in the previous year.
By regions, revenue from digital sales decreased by 6.2%, while in physical stores it increased by 23.9%. By markets, market figures in Chile grew by 5.8%, in Argentina by 77.1%, in Brazil by 13.1%, in Colombia by 12.3%, and in Peru by 3.2%.
In terms of operation, adjusted gross operating product (Ebitda) increased by 4.6%, to 1.48 trillion pesos (1.721 million euros), with an adjusted Ebitda margin of 10.4%, 1.6 points lower than in 2021.
Regarding the fourth quarter, Cincosod lost 12.5% of net profit attributable, to 143,575 million pesos (166.9 million euros), while revenue increased by 9.8%, to 3,9 trillion pesos (4,555 million euros). .
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