Financial Performance - Total revenue for the nine months ended September 30, 2023, was COP 15,706,751 million, an increase from COP 14,423,027 million in the same period of 2022, representing a growth of 8.9%[4] - Gross profit for the nine months ended September 30, 2023, was COP 4,052,217 million, compared to COP 3,665,051 million in 2022, reflecting an increase of 10.6%[4] - Operating profit decreased to COP 549,223 million for the nine months ended September 30, 2023, down from COP 684,773 million in 2022, a decline of 19.8%[4] - Profit for the period was COP 133,798 million for the nine months ended September 30, 2023, significantly lower than COP 279,840 million in 2022, a decrease of 52.2%[4] - Basic and diluted earnings per share attributable to shareholders of the Parent for the nine months ended September 30, 2023, was COP 5.59, down from COP 136.18 in 2022[4] - The company reported a net profit attributable to non-controlling interests of COP 126,549 million for the nine months ended September 30, 2023, compared to COP 103,100 million in 2022, an increase of 22.8%[4] Assets and Liabilities - Total assets as of September 30, 2023, were COP 16,689,571 million, down from COP 18,183,289 million at December 31, 2022, a reduction of 8.2%[3] - Current liabilities increased to COP 6,897,383 million as of September 30, 2023, compared to COP 7,415,394 million at December 31, 2022, a decrease of 7.0%[3] - Total shareholders' equity decreased to COP 7,842,839 million as of September 30, 2023, from COP 8,434,446 million at December 31, 2022, a decline of 7.0%[3] - The total liabilities as of September 30, 2023, are 6,502,453 million Colombian pesos, indicating a significant financial structure[10] Cash Flow and Investments - Cash generated from operating activities before changes in working capital remained stable at COP 1,031,807 million compared to COP 1,029,796 million in the previous year[11] - Net cash flows used in operating activities improved to COP (333,713) million from COP (795,047) million, indicating a reduction in cash outflow[11] - Net cash flows used in investing activities increased to COP (458,597) million from COP (308,321) million, reflecting higher investment expenditures[11] - Proceeds from loans and borrowings rose significantly to COP 1,241,972 million from COP 843,513 million, indicating increased financing activity[11] - The company reported a net decrease in cash and cash equivalents of COP (554,974) million, compared to a decrease of COP (1,411,479) million in the prior year[11] Equity and Dividends - The company declared dividends amounting to 217,392 million Colombian pesos during the current period[10] - As of September 30, 2023, total equity attributable to the equity holders of the parent is 7,842,839 million Colombian pesos, a decrease from 8,434,446 million Colombian pesos at December 31, 2022[10] Revenue and Sales - Retail sales for the nine months ended September 30, 2023, reached $15,050,693, compared to $13,806,433 for the same period in 2022, indicating an increase of about 9.0%[141] - Total consolidated retail sales for the nine months ended September 30, 2023, reached $15,050,693, a 9.0% increase from $13,806,433 in the same period of 2022[177] Expenses and Costs - Total distribution, administrative, and selling expenses for the nine months ended September 30, 2023, increased to $3,469,534, up 14.9% from $3,021,092 in the same period of 2022[145] - Employee benefit expenses for the nine months ended September 30, 2023, rose to $1,313,536, reflecting a 17.9% increase compared to $1,113,790 in the prior year[146] - Total financial cost for the nine months ended September 30, 2023, amounted to $577,077, which is a 43.4% increase from $402,603 in the previous year[152] Acquisitions and Ownership - The company acquired 100% of Hipervital S.A.S. on August 15, 2023, and Costa y Costa S.A. on September 1, 2023, enhancing its retail self-service business[98][99] - The total identifiable assets from the acquisition of Hipervital S.A.S. were valued at $3,294, while Costa y Costa S.A. had identifiable assets of $7,635[99] Taxation - Almacenes Éxito S.A. reported tax losses of $964,565 million as of September 30, 2023, up from $740,337 million at the end of 2022, an increase of about 30.3%[121] - The current income tax expense for the nine months ended September 30, 2023, was $(75,602) million, compared to $(79,542) million for the same period in 2022, reflecting a decrease of approximately 4.9%[123] Other Financial Metrics - The company recognized service revenue of $599,648 for the nine months ended September 30, 2023, compared to $521,339 for the same period in 2022, marking an increase of approximately 15.0%[142] - Other revenue for the nine months ended September 30, 2023, was $56,410, a decrease from $95,255 in the same period of 2022, reflecting a decline of about 40.8%[143]
Almacenes Exito S.A.(EXTO) - 2023 Q3 - Quarterly Report