GRUPO CHEDRAUI PUBLISHES ITS TARGETS FOR 2022 RESULTS
MEXICO CITY, January 13, 2022 /PRNewswire/ — Grupo Comercial Chedraui, SAB de CV announces its forecast results for the 2022 financial year for the two Mexico and United States:
- For 2022, we expect same-store sales growth in Mexico above 4.5%, thus achieving growth over two years above 12%, demonstrating the Company’s capacity for organic growth.
- Chez Chedraui United States, sales should be more dynamic than in other years due to the global inflationary environment. In dollar terms, the El Super and Fiesta operations are expected to increase same-store sales by 3.5%, while the Smart & Final operation’s same-store sales are expected to increase by 2.5% in 2022.
- Capex for 2022 will be around 2.1% of consolidated sales, which will allow us to organically increase the sales area by Mexico around 1.6% and 0.6% in United States.
- Our organic growth considers the opening of 1 Chedraui Store, 5 Super Chedraui and 25 Supercito in Mexico, while in United States the opening of 2 new stores is planned under the Smart & Final brand.
- For 2022, an expansion of 10 to 15 basis points is expected in the EBITDA of the Retail Mexico business, as well as an increase of approximately 200 basis points in the Real Estate division. 40 bps EBITDA margin expansion expected for Chedraui United States following the consolidation of the Smart & Final operation and the continuation of Fiesta’s profitability expansion plan.
- At the end of 2022, a Net Bank Debt / EBITDA ratio of between 0.3 and 0.4 times is expected, given the Company’s excellent cash generation.
- The Company reaffirms its commitment to creating value for its shareholders by reiterating its search for organic and inorganic growth opportunities to expand its commercial offer.
Grupo Comercial Chedraui, SAB de CV reiterates its intention to continue working for the benefit of its shareholders, collaborators and customers, fulfilling its mission “To bring to all possible places the products that customers prefer at the best price”.
Humberto Tafolla Nunez
Phone. + 52 (228) 8-42-11-10
Jesus Arturo Velazquez Diaz
Phone. + 52 (228) 8-42-11-17
THE SOURCE Chedraui Group