CHILE – Cencosud’s consolidated 2016 revenues reached CLP 10,333,001 million, down 6.0% versus 2015 (+7.9% in constant exchange rate), explained by currency depreciation against the Chilean Peso. 

In fact, revenues in local currency grew across all countries except Brazil and same store sales (SSS) improved in most markets and businesses, compared to 2015. Adjusted EBITDA reached CLP 765,955 million, up 11.9% versus the previous year (+28.3% at constant exchange rate) with an Adjusted EBITDA margin of 7.4% compared to 6.2% in 2015. Profit for the year was CLP 387,798 million, an increase of 67.2% over 2015.

In 4Q16 revenues reached CLP 2,850,956 million, a decrease of 6.5% compared to 4Q15 (+7.0% in constant exchange rates) affected by the devaluation of the Argentine Peso (-38.5%), Peruvian Sol (-6.7 %) and Colombian Peso (2.9%) against the CLP. The SSS accelerated in 4Q16 compared to the same quarter last year in Supermarkets Chile, Argentina and Colombia and in Home Improvement Chile and Colombia. Adjusted EBITDA reached CLP 220,313 million (-11.6% at constant exchange rate) with an Adjusted EBITDA margin of 7.7% (4Q15 9.3%). Net Profit for the period was CLP 157,453 million, a reduction of 16.0% YoY.

Cencosud is a leading retailer through a number of formats, including grocery stores, home improvement stores, department stores and malls. Its headquarters are based in Chile and operations in Chile and Argentina, Brazil, Colombia and Peru.