MEXICO CITY, Feb. 20, 2024 /PRNewswire/ — Grupo Comercial Chedraui, S.A.B. de C.V. reports its 2023 fourth quarter results. All figures are shown in nominal terms and reported under International Financial Reporting Standards (IFRS).
4Q’23 Highlights:
Growth of 8.7% in Same-Store Sales (SSS) in Mexico, exceeding the 6% recorded by ANTAD.
7.3% growth in consolidated EBITDA
Consolidated EBITDA margin increase: +66 bps to 9.1%
+18 bps in Retail Mexico to 8.4%
+117 bps in Retail US to 9.4%
18.6% increase in consolidated Net Income
ROE of 18.6%, a 130-bps improvement compared to 2022
Net debt (cash) to EBITDA at -0.24x at year-end 2023
Antonio Chedraui, Grupo Comercial Chedraui’s CEO, remarked:
“Our customer-centric strategy continues to deliver positive results. During the fourth quarter and throughout 2023, both in Mexico and the United States, we achieved our guidance and continued to grow organically with the opening of 57 stores in Mexico and three in