Colombian retailer Grupo Éxito has reported consolidated net revenue of COP 55 billion in 2018 – an 8.9% increase on the previous year.
Net sales were up marginally, by 0.2%, in its home market, however, sales grew in all the other regions in which it has a presence: Brazil grew by 10.7%, Uruguay was up 5%, and Argentina was up 27.9%.
EBITDA at the business grew by 5.7% last year – 40 basis points higher than the previous year.
In a statement, the group noted that 'positive commercial performance, contribution of complementary businesses and expense control in all countries' led to this increase.
"In 2018, innovation positively contributed to Grupo Éxito's results in the region," commented Carlos Mario Giraldo Moreno, CEO of Grupo Éxito.
"Our focus going forward will continue to be on differentiated proposals for our customers through innovation and digital transformation activities," added Moreno.
The group also implemented a series of synergies around the four markets in which it has a presence, with which it has been able to realise a number of cost efficiencies.
"Benefits from the synergy process reflected value creation for the company in all countries," Moreno added.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.