GuruFocus News
Thu, Oct 24, 2024, 4:00 a.m.4 min read
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Consolidated Revenue: MXN46 billion, an increase of 10.4% year-on-year.
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Retail Revenue Growth: 9.7% compared to last year.
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Financial Services Revenue Growth: 16.3% year-on-year.
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Real Estate Revenue Growth: 11.9% year-on-year.
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Same-Store Sales (Liverpool): 7.6% growth.
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Same-Store Sales (Suburbia): 7.6% growth.
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Gross Margin: 41.8%, slightly above last year.
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Operating Income: MXN6 billion, a 7% increase year-on-year.
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Net Profit: MXN4.4 billion, 11.3% above last year.
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EBITDA: MXN7.5 billion, 7.3% above last year.
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EBITDA Margin: 16.3%, 50 basis points below the prior year.
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Non-Performing Loans (NPLs): 4.1%, 63 basis points above a year ago.
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Bad Debt Provision: MXN1 billion, a 57% increase from last year.
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Digital Channel GMV Growth: 15% above a year ago.
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Marketplace GMV Growth: 33% year-on-year.
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CapEx: MXN2.8 billion for Q3, cumulative MXN8.5 billion, 42% higher than a year ago.
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Operating Cash Flow: Negative MXN1.1 billion for the quarter.
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Cash on Hand: MXN18.2 billion.
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Net Debt-to-EBITDA Ratio: 0.2x.
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New Store Openings: New Suburbia stores in Apodaca Huinala and Reynosa, and six new Liverpool Express units.
Release Date: October 23, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
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Consolidated revenue increased by 10.4% year-on-year, reaching MXN46 billion.
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Retail revenue grew by 9.7%, with double-digit growth in financial services and real estate.
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Net profit increased by over 11% year-on-year, aided by a favorable exchange rate.
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Liverpool's digital channel saw a 15% increase in GMV, with digital share growing to nearly 25%.
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The marketplace GMV grew 33% year-on-year, with a significant increase in SKUs and sellers.
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NPL ratio rose to 4.1%, 63 basis points above the previous year.
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Suburbia's same-store sales growth of 7.6% was lower than previous quarters.
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Operating expenses, including bad debt provisions, grew by 10.2%, driven by higher wages and new store costs.
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EBITDA margin decreased by 50 basis points compared to the prior year.
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Inventory levels increased by 20% due to early deliveries, raising concerns about potential overstocking.
Q: How is El Puerto de Liverpool preparing for the holiday season given the recent sales deceleration and increased inventory levels? A: Gonzalo Gallegos, CFO, stated that they are preparing for a strong holiday season with expected sales in the lower two-digit range. They have increased their inventory by 20% to ensure they are fully prepared, aiming to stabilize inventory levels by November in line with sales growth.
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