CHILE - Consolidated revenues for the Falabella Group in the third quarter of 2015 reached USD 2,857 million, which represents 12.7% growth compared to the same period last year. 

The increase in revenue is attributable to the consolidation of Maestro; a 6.5% increase in sales area, driven in part by supermarket store openings; and SSS growth at Falabella and Sodimac in Chile.

Gross profit this quarter rose to USD 1,013 million, 13.9% higher YoY, while gross margin increased 39 basis points in the same period. This gross margin expansion is primarily attributable to Falabella, Sodimac and Tottus, due to a more conservative purchasing strategy which resulted in lower markdowns, as well as the positive impact of variations in the sales mix.

Third quarter consolidated EBITDA reached USD 342 million, a 15.2% YoY increase, with an EBITDA margin of 12%, 26 basis points more than the same period last year. In Chile, Falabella, Plaza and Tottus reported EBITDA margin expansion this quarter, while in the international operations, Peru and Argentina also increased EBITDA margins.

Consolidated net income this quarter reached USD 136 million, a 16.2% increase with regards to the same period in 2014. Net income does not include gains or losses from asset revaluations of investment properties, as the Company adopted the historic cost method in 2009.

In the third quarter, the Company opened three new stores in the region. Falabella marked an important milestone with the opening of its 100th department store in Latin America, located in Lima, Peru. Falabella also opened a new store in Chile, in the city of Castro and Sodimac opened its second store in Uruguay, in the northwest area of Montevideo.