Fourth quarter economic dynamics boosted Grupo Éxito's earnings in 2024

The improved economic dynamics observed in the last quarter of last year were key for the Colombian chain of stores Grupo Éxito, which also has a presence in Uruguay and Argentina, to get through the year with positive figures in its balance sheet. According to the company, 2024 closed with profits of around 54,786 million pesos. In the fourth quarter of that year alone, the organization's consolidated net profits grew by 23 percent.

The Group's operating income totaled 21.9 billion pesos in that same year, 6 percent more than the immediately preceding year, of which more than 28.7 percent occurred in the fourth quarter of 2024. The retail and real estate business in Colombia, as well as the operation in Uruguay, were key in achieving these results and contributed to offsetting the results in Argentina, which faced significant macroeconomic challenges, the company indicated.

The Colombian business accounted for 74 percent of the Group's consolidated operating revenue (16.3 billion pesos), growing by 4.7 percent in the last quarter and 2.7 percent for the full year. Uruguay and Argentina, for their part, earned revenues of 5.6 billion pesos in the year and accounted for 26 percent of consolidated revenue.

“Thanks to the commitment and effort of our work teams and suppliers, we are beginning to see an improvement in Grupo Éxito's results, sales and profits. We are confident that, although they are not yet what we need, we hope that the figures we see today for the last quarter of 2024 and the end of the year, which highlight the good performance of the retail and real estate business in Colombia, and the growth of the operation in Uruguay, will mark the path to a gradual and consistent recovery. We believe that we are on the right track," said Carlos Calleja, president of Grupo Éxito when announcing the 2024 balance sheet.

Referring to the results obtained in Colombia, the Group's executives highlighted the growth in sales in a year that had several months of economic complications, a situation that was overcome with the implementation of a commercial strategy with positive effects in several product categories. For example, food grew 3.6 percent compared to 2023, the recovery of non-food in the last quarter of the year of 5.8 percent and the solid performance of sales through electronic and direct channels that represented 14.7 percent of total sales in the year.

According to the company, sales from e-commerce and direct commerce channels reached more than 2.3 trillion pesos, driven by 11 percent growth in food sales and a recovery in the last quarter of the non-food category, which grew by 12.9 percent. Orders through the different digital channels grew 21.4 percent annually and achieved 23.5 million orders.

The gradual unification of the brands to consolidate the operation around Éxito and Carulla was also key to the consolidation of the Group's results last year. At the end of the year, 26 stores were taken over, with sales increasing by 12 percent.

Another key aspect was the renewal of theme days, such as “Country Tuesdays,” which raised average sales by more than 28 percent compared to the same day before the strategy; “Fresh Meat Wednesdays” (+54 percent) and “Celebration Fridays” (+45 percent).

The results of the campaign to strengthen products with “Unbeatable Price”, as an alternative for saving and alleviating customers' pockets, with a portfolio of more than 1,000 own-brand products and leading national brands in the country, also had an important contribution to the total results.

And in this same purpose, the contribution of the real estate business cannot be overlooked, with recurring income growing 10.7 percent compared to the previous year.

"In the real estate business, with the arrival of IKEA and the opening of Jardín Nómada, Viva Envigado has established itself as the largest commercial and business center in the country with 159,000 m2 of rentable area. We continue working to maintain the preference of our clients and to fulfill our Higher Purpose: We Nourish Opportunities for Colombia," said Carlos Mario Giraldo, General Manager of the organization.