SANTIAGO, Chile, Nov. 28, 2014 /PRNewswire/ -- Cencosud S.A. (BCS: CENCOSUD; NYSE: CNCO), a leading multi-format Latin American retailer with presence in five countries, announced today its consolidated financial results for the third quarter of 2014. All figures are in Chilean pesos (CLP), except where indicated otherwise, and in accordance with International Financial Reporting Standards. Variations refer to the comparison between 3Q13 and 3Q14 and they include results from discontinued operations.
-Revenues rose 6.8% to CLP 2.7 trillion, as a result of higher revenues from Supermarkets, Home Improvement, Shopping Centers and Financial Services divisions.
-Gross profit rose 2.7% to CLP 737 billion, with expansion in Home Improvement, Supermarkets and Financial Service divisions.
-Operating Income was flat at CLP 132 billion, with higher operating income from Home Improvement, Shopping Centers, and Financial Services offset by lower operating income from Department Stores and Supermarkets.
-Adjusted EBITDA[1] fell 2.3% to CLP 160 billion due to lower adjusted EBITDA from the Shopping Center, Department Store and Supermarket divisions. Adjusted EBITDA from operations in Chile, Cencosud's largest market, rose 32%.
-Net income fell 35.4% to CLP 28.2 billion, due to larger non-operating loss.
-Positive supermarket same store sales in Chile, Argentina, Peru and Colombia. Improved same store sales in Colombia reflect the growing strength of Cencosud's Jumbo and Metro brands in that country.
Please visit www.cencosud.com/inversionistas.htm to obtain the full third quarter earnings release, including financial results and tables.
Conference Call
The company will hold a conference call to review the 3Q14 results on Wednesday, December 3, 2014 at 12:00 pm Santiago/ 10:00 am Eastern Time with a live webcast available through its website.
To participate on the day of the call, dial 1-877-407-0784 or 1-201-689-8560 approximately ten minutes before the call and tell the operator you wish to join the Cencosud Conference Call. A webcast of the conference call will be available online at https://viavid.webcasts.com/starthere.jsp?ei=1048640
About Cencosud S.A.
Cencosud is a leading multi-brand retailer in South America, headquartered in Chile and with operations in Chile, Brazil, Argentina, Peru and Colombia. The company, founded by Chairman Horst Paulmann, operates in supermarkets, home improvement stores, shopping centers and department stores', always aiming to deliver the right product at the right price to Latin America's growing middle class. In 2012, the Company listed American Depositary Receipts (ADRs) on the New York Stock Exchange.
[1] Adjusted EBITDA = EBITDA – Revalue of assets – Result from Indexation Units – Income (loss) from foreign exchange variations.
Forward-Looking Statements:
In addition to historical information, this earnings release contains "forward-looking" statements that reflect management's expectations for the future. The forward-looking statements included herein represent Cencosud's views as of the date of this release. A variety of important factors could cause results to differ materially from such statements. These factors are laid out in Cencosud's filings with the SVS in Chile and the SEC in the United States. The Company undertakes no obligation to revise or update publicly any forward-looking statement for any reason unless required by law.
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SOURCE Cencosud
