CHILE - During the fourth quarter of 2014, consolidated revenues of the Falabella Group amounted to USD 3,705 million, achieving an increase of 13.0% compared to the same quarter of 2013, while accumulated revenues to December 2014, totaled USD 12,464 million growing 13.6% in the period.

The higher revenues are explained by the consolidation in Peru of Maestro from October 1, 2014, along with increased sales area by the addition of 31 new stores in the region during the year. Falabella pointed out that by the end of 2014 revenues from operations outside Chile represent 40% of total group revenues, reflecting the regional diversification strategy put forth by the Company.

As a result, consolidated EBITDA in the fourth quarter amounted to USD 588 million, growing by 15.5% in the quarter, while the EBITDA margin was 15.9%, higher by 40 basis points on the margin of the fourth quarter of 2013. For the year consolidated EBITDA was USD 1,674 million. Finally, consolidated net income for the quarter reached USD 305 million, an increase of 10.0% compared to the same period of 2013 and for the 2014 period net income amounted to USD 766 million.

In the fourth quarter, Falabella Group opened one mall in the region, Mall Plaza Copiapo in northern Chile and also opened 19 new stores in the region. Six department stores were opened: 2 in Chile (in San Fernando and Copiapo), 1 in Peru (Huanuco) and 3 in Colombia (in Ibague, Cali and Bucaramanga). Sodimac opened four home improvement stores: 1 in Chile (in Quillota), 1 in Peru (Cajamarca), 1 in Colombia (Bogota) and 1 Dicico store in Brazil (in Sumaré). Finally, Tottus opened nine stores in the region: 3 supermarkets in Chile (in Copiapo, Reñaca and Hill) and Peru opened 4 supermarkets (in Chepén, Huanuco, Cajamarca and Lima) and 2 stores with the new format Hiperbodega Price 1 (both in Lima).