Tuesday , August 9 2022

SMU reached a profit of $ 7,402 million in the third quarter, doubling the figure in the previous year



Net income of $ 22,179 million was recorded by SMU in the first nine months of the year, reaching an increase of $ 12,882 million over the same period last year. Meanwhile, the net result for the third quarter was $ 7.402 million, more than double the figure between July and September 2017.

At EBITDA, the company reached $ 109,486 million between January and September, an increase of 10.1% over the same period last year, with EBITDA margin of 6.4%, an increase of 40%. Up from 6.0% in January-September 2017. Meanwhile, EBITDA reached $ 40.036 million, up 14.5% from July-September 2017.

With regard to the results of the report on Monday to the Financial Market Committee – CEO Samo Marcello Galvez emphasized the strong expansion in EBITDA margins and the progress in terms of the customer's acquisition experience, the renovation of new commercial premises and discounts.

He stressed the progress of the program for the reconversion of premises made by the company since last year, which sees the redevelopment of 130 Unimarc rooms within a period of

Five years in this regard, he noted that "we have 29 re-opening of stores where we implement our value proposition, rearranging our rooms according to the most relevant consumer events for our clients."

Finally, he emphasized the sharp decrease in financing expenses during the third quarter, with a decrease of approximately $ 6,985 million, corresponding to 40.6% compared to the corresponding period last year. "The above reflects the company's efforts to reduce its level of indebtedness and strengthen its capital structure over the past two years," stressed the CEO of SMU.

Finally, in terms of operational efficiency, the company emphasized the opening of a new exclusive distribution center to the Alvi format, "This modern infrastructure has enabled us to strengthen the distribution chain and improve product availability in our Alvi stores, better serving our customers of the traditional channel," concluded Gálvez.

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