Earnings Presentation
1Q-2024
1
Cautionary Statement
These webcasts, presentations and transcripts contain "forward-looking statements," relating to, among other things, future operating and financial results, project performance, expenses, the impact of acquisitions and divestments, business strategy and any restructuring plans. These statements use words, and variations thereof, such as the future tense verbs generally, "plan", "intend", "expect", "anticipate", "estimate", "maintain", "project", "continue", "reduce" and "grow". We caution you not to rely on these forward-looking statements as the basis for any investment or divestment decisions regarding securities issued by the Company. These statements are based on assumptions and expectations of future events at the time they are made and, therefore, are subject to uncertainty.
If the underlying assumptions prove to be inaccurate, or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections expressed in these forward-looking statements. Uncertainties relate to, among other things, the company's ability to successfully execute its planned projects and strategic plans, the possibility that expected benefits and opportunities may not materialize in the expected timeframe or at all, the impact of divestments, as well as risks related to the political and economic scenario; new regulations or more demanding regulatory changes; breach of rules and/or regulations; inability to attract and retain talent; cyber-attacks; failures or crashes of key systems; technological obsolescence; financial and market risks (exchange rate, inflation, interest rate, credit and liquidity); climate change causing natural disasters that affect operational continuity and/or increase costs in the value chain; inconsistency between ESG declarations and implementation; damage to infrastructure affecting physical security and operational continuity; conflicts with the community; accidents, illnesses or other events that impact the minimum number of people required to operate; failures in the supply chain and inventories; relationships with suppliers who fail to meet minimum standards; sale of products harmful to people's health or safety; inadequate identification and response to the preferences of our current and prospective customers. A more detailed list and description of these risks can be found in the Annual Report and in the notes to the financial statements of Falabella S.A., which are available online at the company's website (https://investors.falabella.com), as well as on the website of the Financial Market Commission (www.cmfchile.cl).
The information contained in each of these presentations pertain to the dates and for the time periods indicated therein, and the company assumes no obligation to update any of the information contained in these materials. Accordingly, you should not rely on the accuracy of any statements or other information contained in any archived webcast or video on demand as the basis for investment or divestment decisions in securities issued by the company.
All numbers in this presentation are converted to US Dollars and rounded to millions.
HIGHLIGHTS
1Q-2024
Clients
3
Strong leadership presence of Retailers & Malls in Latam
Revenues (US$ MM) | ||||||||||||||
Falabella Retail | Home Improvement | |||||||||||||
+7,4% | 1.365 | |||||||||||||
+6,5% | 990 | 1.271 | 1.150 | 1.178 | 1.270 | |||||||||
649 | 724 | 687 | 691 | |||||||||||
1Q23 | 2Q23 | 3Q23 | 4Q23 | 1Q24 | 1Q23 | 2Q23 | 3Q23 | 4Q23 | 1Q24 |
Supermarkets | Mallplaza |
+8,7% | 621 | 567 | +14,2% | |||||||||||
536 | ||||||||||||||
522 | 517 | 116 | ||||||||||||
105 | 112 | 109 | ||||||||||||
102 | ||||||||||||||
1Q23 | 2Q23 | 3Q23 | 4Q23 | 1Q24 | 1Q23 | 2Q23 | 3Q23 | 4Q23 | 1Q24 | |||||
Note: Home Improvement operation includes the businesses in Chile, Peru, Colombia, Brazil, Mexico, Argentina and Uruguay. Mexico and Colombia do not consolidate in the financial statements. | 4 |
Our value proposition for customers and sellers
continues to gain traction
Online GMV (US$ MM) | Online GMV - 3P (US$ MM) | |||||||||||||
754 | ||||||||||||||
42 | 23% | 18% | 24% | 26% | 25% | |||||||||
83 | ||||||||||||||
534 | 565 | 535 | 535 | |||||||||||
30 | 180 | |||||||||||||
26 | ||||||||||||||
44 | 31 | 37 | 32 | |||||||||||
121 | 48 | 47 | 197 | |||||||||||
134 | 154 | 132 | ||||||||||||
123 | 130 | 134 | ||||||||||||
450 | 99 | |||||||||||||
388 | ||||||||||||||
324 | 297 | 324 | ||||||||||||
1Q23 | 2Q23 | 3Q23 | 4Q23 | 1Q24 | 1Q23 | 2Q23 | 3Q23 | 4Q23 | 1Q24 | |||
Chile | Peru | Colombia | Others | % of Online GMV | ||||||||
5
Building the leading digital bank of the Andean region
Loan portfolio (US$ MM)
Chile Colombia Peru Mexico
1%
6.450 | 6.447 | 6.383 | 6.509 | 6.488 |
1Q23 2Q23 3Q23 4Q23 1Q24
NPL (%)
8 | Chile | Colombia | Peru | Mexico | |
6 | |||||
4 | |||||
2 | |||||
0 | |||||
1Q23 | 2Q23 | 3Q23 | 4Q23 | 1Q24 |
Credit card & passive account openings (#)
Credit Card Passive Account
704,831 | -11% | 700,766 | |||
688,329 | 654,507 | 609,826 | |||
47% | 46% | 43% | 45% | 45% | |
53% | 54% | 57% | 55% | 55% |
1Q23 2Q23 3Q23 4Q23 1Q24
Credit & debit card purchases (US$ MM)
Credit Card Debit Card
+12% | 5,458 | 5,340 | |||
4,750 | 4,734 | 4,720 | |||
63% | 65% | 63% | 62% | 58% | |
37% | 35% | 37% | 38% | 42% | |
1Q23 | 2Q23 | 3Q23 | 4Q23 | 1Q24 |
Note: Consolidatedmetrics includethe banking businesses in Chile, Peru, Colombia and CMR Mexico. CMR Mexicodoes not consolidate in the financial statements. | 6 |
Our loyalty program is one of the most preferred and plays a
critical role in the adaptation to a data-driven company
Participants (# 000')
19,268 | 19,309 | 19,330 | 19,247 | 19,444 |
1Q23 | 2Q23 | 3Q23 | 4Q23 | 1Q24 |
Redemptions (# MM)
Digital redemptions rate
36% | 28% | 25% | 30% | 37% |
2.6 | 2.3 | 2.5 | 2.3 | 2.5 |
1Q23 | 2Q23 | 3Q23 | 4Q23 | 1Q24 | 7 |
We continue to focus efforts on our plan to strengthen
our financial position
Cash and Equivalents - Non Banking (US$ mm) | Inventories (US$ mm) |
+81%
-11%
534 411
1.098 | 967 | 1.834 | 1.728 | 1.739 | 1.567 | 1.626 |
662
1Q23 2Q23 3Q23 4Q23 1Q241Q23 2Q23 3Q23 4Q23 1Q24
SG&A (US$ mm)
+1% | 902 | ||||
840 | 824 | ||||
819 | 817 | ||||
1Q23 | 2Q23 | 3Q23 | 4Q23 | 1Q24 | 8 |
Summary Financials (US$ MM)
Total sales | 1Q23 | % revenues | 1Q24 | % revenues | Var (%) |
Total sales | 2.811 | 2.733 | -3% | ||
GMV Online | 534 | 535 | 0% | ||
GMV own products (1P) | 411 | 401 | -2% | ||
GMV third-party products (3P) | 123 | 134 | 9% | ||
Total sales of physical stores | 2.277 | 2.198 | -3% | ||
Financial Results | |||||
Non-Banking Revenue | 2.317 | 82,8% | 2.437 | 83,6% | 5% |
Financial Services Revenue | 482 | 17,2% | 479 | 16,4% | 0% |
Total Revenue | 2.799 | 100,0% | 2.916 | 100,0% | 4% |
Gross profit | 837 | 29,9% | 1.007 | 34,5% | 20% |
SG&A expenses | (819) | -29,2% | (824) | -28,2% | 1% |
EBITDA | 129 | 4,6% | 302 | 10,4% | 134% |
Net (Loss) Income | (55) | -2,0% | 60 | 2,0% | NA |
Balance Sheet | |||||
Cash (non-banking) | 534 | 967 | 81% | ||
Gross Loan Book | 6.450 | 6.488 | 1% | ||
Financial Net Debt (Exc. Banking) | 3.680 | 3.495 | -5% |
Note: Total sales correspond to the total value of the merchandise sold, including our own (1P) and third-party (3P) products, through our omnichannel platform (physical and online stores). Includes value added taxes. Calculated with a 9 neutral exchangerate.
.
Financial Position
Debt By Creditor | Debt By Maturity | Net Financial Debt/EBITDA | Net Leverage (times) |
w/o Banking Operations | w/o Banking Operations | (times) | w/o Banking Operations |
w/o Banking Operations |
22%
78%
3%Mar-24
Mar-23
5.7Mar-24
7.3Mar-23
1.0
1.2
Bonds | Short Term | |
Banks Facilities | Long Term | |
97%
Debt Amortization Profile
(US$ mn)
$2,689
Financial Debt (Exc. Banking business) reached US$ 4,462 million
$589 | $502 | $402 | ||||
$146 | $135 | |||||
2024 | 2025 | 2026 | 2027 | 2028 | 2029+ | |
Financial Debt = Bank loans + Bond obligations + Other financial liabilities + Derivative instruments + Hedging assets. | 10 |
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Disclaimer
Falabella SA published this content on 09 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 May 2024 18:17:23 UTC.