CHILE - Transnational retail, banking and shopping mall developer, Grupo Falabella of Chile, reported results for the last quarter and year 2014.

During the fourth quarter of 2013, consolidated revenues reached a total of USD 3,809 million, achieving a growth of 16.4% compared to the same period of 2012. For the year, revenues were USD 12,694 million, higher by 12.3% when compared to the same period last year. This growth is driven by an increase in sales area, including the acquisition of Construdecor in Brazil. The company highlighted the performance of operations in Colombia, where the negative trend observed since the end of 2012 was reversed, achieving positive growth of SSS (same store sales) for Falabella and Sodimac.

During the fourth quarter, consolidated EBITDA rose to USD 595 million, implying an increase of 17.3%, meanwhile, the EBITDA margin increased 0.1 percentage points compared to the same period of 2012.

In January, Falabella announced its organic growth plan for the period 2014-2017, which considers an investment of USD 4,100 million, in order to increase its regional coverage and strengthen its logistic and technological operations. This four year plan represents an increase of USD 1,100 million compared to the one announced in January 2013. 63% of the investment plan will go to open 157 new stores and 15 shopping malls. Additionally, around USD 550 million will be allocated to remodeling and expanding existing stores, seeking to improve the shopping experience of clients and keep quality and service standards.