Earnings release
Page 1
GRUPO COMERCIAL CHEDRAUI, S.A.B. DE C.V. Second Quarter 2025 Financial Results
Page 2
1 Contact: Humberto Tafolla Núñez Jesús Arturo Velázquez Díaz Deputy General Manager Ticker symbol (BMV): IR and Financial Information Deputy Director Tel. + 52 (228) 8-42-11-10 CHDRAUI B Tel. + 52 (228) 8-42-11-17 htafolla@chedraui.com.mx avelazquez@chedraui.com.mx GRUPO COMERCIAL CHEDRAUI, S.A.B. DE C.V. SECOND QUARTER 2025 RESULTS Mexico City, July 28th, 2025. Grupo Comercial Chedraui, S.A.B. de C.V. reports its 202 5 second quarter results. All figures are shown in nominal terms and reported under International Financial Reporting Standards (IFRS). 2Q'25 Highlights: Same Store Sales (SSS) grew 3.7% in Mexico in the quarter, surpassing ANTAD’s by 122 basis points. This is the twentieth consecutive quarter surpassing ANTAD. Smart & Final's pricing strategy result ed in a 1.5% increase in customer traffic compared to 2Q’24. Consolidated EBITDA growth of 6.3% and 8.0% excluding transition costs of the new RCDC at Chedraui USA. Consolidated EBITDA margin of 8.9% and 9.0% excluding RCDC transition costs at Chedraui USA. o Chedraui Mexico's total EBITDA margin increased by 14 bps to 9.5%. o Chedraui USA's EBITDA margin was 8.3% and 8.6% excluding RCDC transition costs. Consolidated Net Income grew 2.4% and 6.1% excluding RCDC transition costs. Net debt to EBITDA ratio of -0.05x at the end of 2Q’25. Growth Plan: Continued growth with the opening of 30 stores in Mexico and one in the United States in 2Q’25.
Page 3
2 Contact: Humberto Tafolla Núñez Jesús Arturo Velázquez Díaz Deputy General Manager Ticker symbol (BMV): IR and Financial Information Deputy Director Tel. + 52 (228) 8-42-11-10 CHDRAUI B Tel. + 52 (228) 8-42-11-17 htafolla@chedraui.com.mx avelazquez@chedraui.com.mx Five-year trend: +360 bps Sustained Consolidated EBITDA Growth Net Debt (Cash) to EBITDA Ratio 2,802 Million 6,552 Million 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 2Q'21 2Q'22 2Q'23 2Q'24 2Q'25 23.7% 4-year CAGR 6,656 Million 4,526 Million -1,128 Million 0.41x -0.05x -3,000 - 3,000 6,000 9,000 -0.5 -0.3 -0.1 0.1 0.3 0.5 0.7 0.9 1.1 1.3 1.5 2Q'21 2Q'22 2Q'23 2Q'24 2Q'25 Net Debt (Cash) Net Debt (Cash) to EBITDA Double digit long-term growth rate for Net Income ROE increased 280 bps compared to 2Q’21 ROE: Last Twelve Months Net Income/Average Stockholders’ Equity 844 Million 2,062 Million 500 700 900 1,100 1,300 1,500 1,700 1,900 2,100 2Q-21 2Q-22 2Q-23 2Q-24 2Q-25 25.0% 4-Years CAGR w/o RCDC 2,135 Million 10.4% 13.2% 5.0 8.0 11.0 14.0 2Q'21 2Q'25 +280 bps. w/o RCDC
Page 4
3 Contact: Humberto Tafolla Núñez Jesús Arturo Velázquez Díaz Deputy General Manager Ticker symbol (BMV): IR and Financial Information Deputy Director Tel. + 52 (228) 8-42-11-10 CHDRAUI B Tel. + 52 (228) 8-42-11-17 htafolla@chedraui.com.mx avelazquez@chedraui.com.mx Antonio Chedraui, Grupo Comercial Chedraui’s CEO, remarked: I would like to begin by thanking our customers for their continued loyalty and our employees for their ongoing commitment, both of which were key drivers of our results for the second quarter. Our commitment to offering low prices, the best assortment for each store , and a unique shopping experience has translated into increased customer preference and market share gains in Mexico this quarter. Same-store sales grew by 3.7%, exceeding ANTAD's self-service store growth by 122 basis points and marked our twentieth consecutive quarter of outperformance. In June, we launched our summer campaign, “Por ti, cuesta menos el verano Chedraui” , for the fourth consecutive year. This initiative reinforces our commitment to helping Mexican families save money. The campaign emphasizes our low prices, overall value proposition, and strengthens Chedraui’s position as the best option for customers seeking the best price. Chedraui USA experienced a 1% increase in customer traffic, driven by a 1.5% increase at Smart & Final. This growth reflects the continued success of the marketing and pricing strategies launched in the second half of 2024, which were designed to strengthen brand recognition and attract more customers to our stores. Finally, I would like to highlight the successful completion in the quarter of migrating our five legacy Distribution Centers in California, which service El Super and Smart & Final, to our new consolidated facility in Rancho Cucamonga. We are now focused on improving productivity to realize the expected benefits.
Page 5
4 Contact: Humberto Tafolla Núñez Jesús Arturo Velázquez Díaz Deputy General Manager Ticker symbol (BMV): IR and Financial Information Deputy Director Tel. + 52 (228) 8-42-11-10 CHDRAUI B Tel. + 52 (228) 8-42-11-17 htafolla@chedraui.com.mx avelazquez@chedraui.com.mx SECOND QUARTER FINANCIAL RESULTS It is important to highlight the impact of start -up operations at our new distribution center in Rancho Cucamonga, California (RCDC). As part of the supply chain realignment of five distribution centers to RCDC, we incurred one-time transition costs and expenses in the quarter of $5.6 million USD. We expect t hese transition costs to continue to decrease following the successful completion of the migration process. The following tables compare the Income Statement and other relevant financial data for the prior comparative quarters. **These items exclude DC transition costs mentioned above. MXN in million 2Q’24 % Net Sales 2Q’25 % Net Sales Variance % Consolidated Sales 67,453 100.0% 73,884 100.0% 9.5% Gross Profit 16,198 24.0% 17,834 24.1% 10.1% **Gross Profit 16,198 24.0% 17,921 24.3% 10.6% Operating Income 4,072 6.0% 4,248 5.7% 4.3% **Operating Income 4,072 6.0% 4,352 5.9% 6.9% EBITDA 6,161 9.1% 6,552 8.9% 6.3% **EBITDA 6,161 9.1% 6,656 9.0% 8.0% Net Income 2,013 3.0% 2,062 2.8% 2.4% **Net Income 2,013 3.0% 2,135 2.9% 6.1% Majority Net Income 1,952 2.9% 2,009 2.7% 2.9% **Majority Net Income 1,952 2.9% 2,082 2.8% 6.7% EPS (Earnings per share) 2.02 2.08 2.9% EPS: Quarterly Net Majority Income / outstanding shares
Page 6
5 Contact: Humberto Tafolla Núñez Jesús Arturo Velázquez Díaz Deputy General Manager Ticker symbol (BMV): IR and Financial Information Deputy Director Tel. + 52 (228) 8-42-11-10 CHDRAUI B Tel. + 52 (228) 8-42-11-17 htafolla@chedraui.com.mx avelazquez@chedraui.com.mx Consolidated Net Sales Consolidated net sales for the second quarter grew 9.5% compared to 2Q'24 to $73,884 million pesos, due to a 7.1% sales increase in Mexico , a 1.3% sales increase at Chedraui USA in dollar terms, and a favorable exchange rate effect in the consolidation of Chedraui USA's sales . The Mexican peso depreciated 10.1% to the U.S dollar versus 2Q’24, resulting in a conversion rate of $19.2644. Quarterly Consolidated Sales (Million Pesos) Chedraui Mexico : Same -store sales grew by 3.7% during the quarter, exceeding the growth reported by ANTAD for self -service stores by 122 basis points. This marks the twentieth consecutive quarter in which we outperformed the industry benchmark. Continued customer preference has allowed us to further strengthen our market share. It is important to note that SSS growth this quarter reflects the impact of a weaker consumer environment in Mexico. The increase in SSS is explained by a 4.1% increase in the average ticket with a transaction count similar to that of 2Q'24. In the quarter, SSS were higher than those of ANTAD in all regions of the country, highlighting the results observed in the Central, Metropolitan, Northeast and Southwest regions. 67,453 Million 73,884 Million 0 10,000 20,000 30,000 40,000 50,000 60,000 70,000 +9.5% 2Q-252Q-24
Page 7
6 Contact: Humberto Tafolla Núñez Jesús Arturo Velázquez Díaz Deputy General Manager Ticker symbol (BMV): IR and Financial Information Deputy Director Tel. + 52 (228) 8-42-11-10 CHDRAUI B Tel. + 52 (228) 8-42-11-17 htafolla@chedraui.com.mx avelazquez@chedraui.com.mx Same-store Sales (Percentage) In 2Q’25, Chedraui Mexico sales, which now include sales for the Real Estate business, totaled $34,308 million pesos and grew 7.1% compared to 2Q'24. Quarterly Sales – Chedraui Mexico (Million Pesos) Chedraui USA : Same -store sales declined slightly by 0.3% in U.S. dollars compared to 2Q'24, primarily due to a 1% decrease in the average ticket, reflecting the impact of the ongoing price campaign at Smart & Final. 3.5 3.0 1.9 0.3 2.5 5.5 4.9 2.9 1.2 3.7 0.0 1.0 2.0 3.0 4.0 5.0 6.0 2Q-24 3Q-24 4Q-24 1Q-25 2Q-25 ANTAD CHEDRAUI 32,033 Million 34,308 Million 0 5,000 10,000 15,000 20,000 25,000 30,000 35,000 +7.1% 2Q-252Q-24
Page 8
7 Contact: Humberto Tafolla Núñez Jesús Arturo Velázquez Díaz Deputy General Manager Ticker symbol (BMV): IR and Financial Information Deputy Director Tel. + 52 (228) 8-42-11-10 CHDRAUI B Tel. + 52 (228) 8-42-11-17 htafolla@chedraui.com.mx avelazquez@chedraui.com.mx The El Super and Fiesta Mart formats recorded SSS, in dollar terms, in line with the same period last year. This performance reflects both a high base of comparison and a decline in transactions at El Super due to changes in immigration policy in the U.S. Smart & Final reported a 0.6% decrease in SSS, driven by a lower average ticket as a result of the pricing strategy implemented in the second half of 2024. It is worth noting that transaction count increased by 1.5% during the quarter, supported by ongoing marketing efforts and pricing initiatives aimed at strengthening brand positioning and driving customer traffic. Total sales for Chedraui USA in U.S. dollars grew by 1.3% year -over-year, supported by an expanded sales floor over the past twelve months. In Mexican pesos, sales reached $39,576 million, representing an increase of 11.7% compared to 2Q'24 , and this growth includes a favorable foreign exchange impact of 10.1%. Quarterly Sales – Chedraui USA (Million Pesos) 35,420 Million 39,576 Million 0 10,000 20,000 30,000 40,000 2Q-24 2Q-25 11.7% Smart & Final El Super and Fiesta
Page 9
8 Contact: Humberto Tafolla Núñez Jesús Arturo Velázquez Díaz Deputy General Manager Ticker symbol (BMV): IR and Financial Information Deputy Director Tel. + 52 (228) 8-42-11-10 CHDRAUI B Tel. + 52 (228) 8-42-11-17 htafolla@chedraui.com.mx avelazquez@chedraui.com.mx Consolidated Sales Quarter MXN in Million 2Q’24 2Q’25 Variance % Chedraui Mexico 32,033 34,308 7.1% Chedraui USA 35,420 39,576 11.7% CONSOLIDATED 67,453 73,884 9.5% Gross Profit Consolidated gross profit grew 10.1% to $17,834 million pesos, with gross margin increasing 12 basis points to 24.1% of sales. This increase is explained by improved promotions and inventory management in Mexico, and a lower impact from costs related to the RCDC at Chedraui USA. If we exclude the RCDC transition costs, gross profit would have grown 10.6% and gross margin would have been 24.3% of sales, a 24-bps increase to 2Q'24. Operating Expenses Operating expenses (excluding depreciation and amortization) increased 1 2.4% compared to 2Q'24, reaching $11,282 million pesos and representing 1 5.3% of consolidated sales. This is explained by higher labor costs related to an increase in the minimum wage and store count in Mexico and in the U.S., and the 10.1 % depreciation of the Mexican peso , which impacted the translation of expenses coming from our U.S. operations. EBITDA Consolidated EBITDA grew 6.3% versus the prior comparative quarter to $6,552 million pesos. The consolidated EBITDA margin for the quarter was 8.9%, compared to 9.1% in 2Q'24. Excluding transition costs related to RCDC, EBITDA increased by 8.0%, with an EBITDA margin of 9.0%.
Page 10
9 Contact: Humberto Tafolla Núñez Jesús Arturo Velázquez Díaz Deputy General Manager Ticker symbol (BMV): IR and Financial Information Deputy Director Tel. + 52 (228) 8-42-11-10 CHDRAUI B Tel. + 52 (228) 8-42-11-17 htafolla@chedraui.com.mx avelazquez@chedraui.com.mx Consolidated Quarterly EBITDA (Million Pesos) Chedraui Mexico: EBITDA in the quarter of $3,254 million pesos, which includes Retail and Real Estate, grew 8.7% compared to the 2Q’24. EBITDA margin of 9.5% was 14 bps higher than in 2Q'24. This favorable performance is explained by an increase in gross margin from better inventory management and promotions, and by strong control of various operating expenses, which offset increased labor costs. Quarterly EBITDA – Chedraui Mexico (Million Pesos) 6,161 Million 6,552 Million 9.1% 8.9% 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 2Q-24 2Q-25 7.0 7.5 8.0 8.5 9.0 9.5 Consolidated EBITDA EBITDA Margin 9.0% 6,656 Millionw/o RCDC 2,994 Million 3,254 Million 9.3% 9.5% 0 500 1,000 1,500 2,000 2,500 3,000 3,500 2Q-24 2Q'25 4.0 5.0 6.0 7.0 8.0 9.0 10.0 EBITDA EBITDA Margin +8.7%
Page 11
10 Contact: Humberto Tafolla Núñez Jesús Arturo Velázquez Díaz Deputy General Manager Ticker symbol (BMV): IR and Financial Information Deputy Director Tel. + 52 (228) 8-42-11-10 CHDRAUI B Tel. + 52 (228) 8-42-11-17 htafolla@chedraui.com.mx avelazquez@chedraui.com.mx Chedraui USA : In Mexican pesos, Chedraui USA's EBITDA was $ 3,298 million with an EBITDA margin of 8.3% of sales, excluding transition costs for RCDC, the EBITDA margin was 8.6%. El Super and Fiesta Mart combined delivered EBITDA growth of 19.1% in Mexican pesos during the second quarter, with an EBITDA margin of 9.8%. Excluding the RCDC transition costs, the EBITDA margin would have reached 9.9%, compared to 9.4% in 2Q'24. This improvement was driven in part by the strong performance at Fiesta Mart. Smart & Final’s EBITDA declined by 9.8% in Mexican pesos during the second quarter compared to 2Q'24, with an EBITDA margin of 7.0%. This result was impacted by RCDC transition costs, the ongoing perishables pricing campaign, and initial productivity levels at the new facility. Excluding the effect of RCDC-related costs, EBITDA would have decreased by 4.7%, with an EBITDA margin of 7.4%. Quarterly EBITDA – Chedraui USA (Million Pesos) 1,526 1,817 1,642 1,480 8.9% 8.3% 6.5 7.0 7.5 8.0 8.5 9.0 9.5 0 500 1,000 1,500 2,000 2,500 3,000 3,500 2Q-24 2Q-25 EBITDA Margin +7.4% Smart & Final El Super and Fiesta 8.6% +4.1% w/o RCDC 3,168 Million 3,298 Million 3,402 Million
Page 12
11 Contact: Humberto Tafolla Núñez Jesús Arturo Velázquez Díaz Deputy General Manager Ticker symbol (BMV): IR and Financial Information Deputy Director Tel. + 52 (228) 8-42-11-10 CHDRAUI B Tel. + 52 (228) 8-42-11-17 htafolla@chedraui.com.mx avelazquez@chedraui.com.mx **These items exclude the supply chain transition costs** EBITDA Quarter MXN in million 2Q’24 % Net Sales 2Q’25 % Net Sales Variance % Chedraui Mexico 2,994 9.3% 3,254 9.5% 8.7% Chedraui USA 3,168 8.9% 3,298 8.3% 4.1% Smart & Final 1,642 8.6% 1,480 7.0% -9.8% El Super and Fiesta 1,526 9.4% 1,817 9.8% 19.1% **Chedraui USA 3,168 8.9% 3,402 8.6% 7.4% **Smart & Final 1,642 8.6% 1,564 7.4% -4.7% **El Super and Fiesta 1,526 9.4% 1,838 9.9% 20.4% CONSOLIDATED 6,161 9.1% 6,552 8.9% 6.3% ** CONSOLIDATED 6,161 9.1% 6,656 9.0% 8.0% Financial Expenses Financial costs increased 6.8% compared to 2Q’24 and totaled $1,271 million pesos, explained by the higher capitalization of rents from opening new properties (including RCDC) under IFRS16, and a decline in interest income from our cash position in Mexico due to lower average interest rates. Net Income Consolidated Net Income for the quarter increased 2.4% to $2,062 million pesos and represented 2.8% of sales. Excluding the RCDC impact, consolidated net income rose by 6.1% and represented 2.9% of sales. Financing As of June 30, 2025, the Company reported net cash of $1,128 million pesos, comprised of $8,612 million pesos in short and long -term debt, and $ 9,740 million pesos in cash and temporary
Page 13
12 Contact: Humberto Tafolla Núñez Jesús Arturo Velázquez Díaz Deputy General Manager Ticker symbol (BMV): IR and Financial Information Deputy Director Tel. + 52 (228) 8-42-11-10 CHDRAUI B Tel. + 52 (228) 8-42-11-17 htafolla@chedraui.com.mx avelazquez@chedraui.com.mx investments. The bank debt of $456 million U.S. dollars is held at Chedraui USA and was impacted by the 10.1% increase in the exchange rate versus the previous year. With these figures, the multiple of net debt (cash) to EBITDA for the last twelve months closed at -0.05x. Quarterly Net (cash) Debt to EBITDA CAPEX for the first half of 2025 was $3,574 million pesos, 29.0% lower than the $5,036 million pesos in the first half of 2024 and represented 2.4% of consolidated sales compared to 3.8% in the first half of 2024. This result is explained by the significant investments made at our RCDC in 2024. -537 Million -1,128 Million -0.02x -0.05x -5,000 -4,000 -3,000 -2,000 -1,000 - 1,000 2,000 -0.3 -0.2 -0.1 0.0 0.1 0.2 2Q-24 3Q-24 4Q-24 1Q-25 2Q-25 Net (Cash) Debt Net (Cash) Debt to EBITDA
Page 14
13 Contact: Humberto Tafolla Núñez Jesús Arturo Velázquez Díaz Deputy General Manager Ticker symbol (BMV): IR and Financial Information Deputy Director Tel. + 52 (228) 8-42-11-10 CHDRAUI B Tel. + 52 (228) 8-42-11-17 htafolla@chedraui.com.mx avelazquez@chedraui.com.mx Infrastructure information by Business Unit Infrastructure (M2 sales floor) 2Q’24 Net variance last 12 months 2Q’25 Variance % Chedraui Mexico 1,613,255 54,351 1,667,606 3.4% Chedraui USA 844,683 8,610 853,293 1.0% CONSOLIDATED 2,457,937 62,961 2,520,898 2.6% Additional Information: Other Relevant Information • We continued with our organic growth strategy in Mexico and the U.S. In the second quarter of 2025, opening 30 stores in Mexico (one Super Chedraui and 29 Supercito) and one El Super store in Fresno CA. • At Chedraui Mexico we remain focused on increasing the penetration of our e -commerce sales. In 2Q'25 the number of orders rose 63%, improving the share of total sales from 3.2% in 2Q'24 to 3.9% in 2Q'25. This growth was driven by better customer satisfaction and increased customer use in the company's own digital channels. The result includes a strong performance of the "Hot Sale" season with a mid -double-digit growth in that period. In addition, third party sales (UBER, Rappi, Didi, Rappi Turbo and Mercado Libre) continue to grow , as they cover different customer’s consumption needs. • On April 22, 2025, we made the payment of the ordinary dividend, one of three approved at the annual ordinary shareholders' meeting o n April 7, 2025, corresponding to $1.0446 pesos per share, and paid with cash generated from the operation. ESG Information • In the quarter , we began with the delivery of rebuilt schools in the State of Guerrero, which was impacted by Hurricane Otis in 2023, in alliance with other Foundations. The total investment will exceed $74 million pesos , with the goal of rebuilding at least 17 schools in the State affected by the Hurricane. • We supported the victims of Hurricane Erick in Oaxaca in the cities of Ometepec, Pinotepa Nacional, and Puerto Escondido, with a total of 73 families aided . In addition, we donated 3,000 grocery baskets. • In the United States, the Smart & Final Foundation held its annual golf tournament fundraiser and raised more than USD $1.5 million . These funds will allow the foundation to continue supporting communities and families in the states we operate.
Page 15
14 Contact: Humberto Tafolla Núñez Jesús Arturo Velázquez Díaz Deputy General Manager Ticker symbol (BMV): IR and Financial Information Deputy Director Tel. + 52 (228) 8-42-11-10 CHDRAUI B Tel. + 52 (228) 8-42-11-17 htafolla@chedraui.com.mx avelazquez@chedraui.com.mx About Grupo Comercial Chedraui Grupo Comercial Chedraui S.A.B. de C.V. trades on the Mexican Stock Exchange under the ticker symbol “CHDRAUIB”; the Company as of June 30, 2025, operated the following stores: México Stores 213 Store Formats Tiendas Chedraui (31 Selecto) 83 Super Chedraui (13 Selecto) 8 Súper Che 246 Supercito (11 Selecto) 36 Tiendas Arteli Total Mexico 586 United States 70 El Súper 60 Fiesta 254 Smart & Final Total United States 384 Total 970 Stores through JV 17 Smart & Final de México
Page 16
15 Contact: Humberto Tafolla Núñez Jesús Arturo Velázquez Díaz Deputy General Manager Ticker symbol (BMV): IR and Financial Information Deputy Director Tel. + 52 (228) 8-42-11-10 CHDRAUI B Tel. + 52 (228) 8-42-11-17 htafolla@chedraui.com.mx avelazquez@chedraui.com.mx Conference Call Information Date Tuesday, July 29th, 2025 11:00 am (EST) 9:00 am (Mexico City CT) Conference Call Operator-assisted US toll-free dial-in number: +1 877 407 3982 Operator-assisted Mexico toll-free dial-in number: 01 800 522 0034 Operator-assisted international toll free: +1 201 493 6780 https://callme.viavid.com/viavid/?callme=true&passcode=13731734&h=true&info=company&r= true&B=6 Webcast https://viavid.webcasts.com/starthere.jsp?ei=1727532&tp_key=8e6fd0bf10
Page 17
16 Contact: Humberto Tafolla Núñez Jesús Arturo Velázquez Díaz Deputy General Manager Ticker symbol (BMV): IR and Financial Information Deputy Director Tel. + 52 (228) 8-42-11-10 CHDRAUI B Tel. + 52 (228) 8-42-11-17 htafolla@chedraui.com.mx avelazquez@chedraui.com.mx Grupo Comercial Chedraui, S.A.B. de C.V. Consolidated Quarter Income Statements (Figures in million of mexican pesos) Q2-2024 % Sales Q2-2025 % Sales Growth % Sales 67,453 100.0% 73,884 100.0% 9.5% Cost of Sales 51,255 76.0% 56,050 75.9% 9.4% Gross Profit 16,198 24.0% 17,834 24.1% 10.1% Operating expenses 10,037 14.9% 11,282 15.3% 12.4% Depreciation and Amortization 2,089 3.1% 2,304 3.1% 10.3% Operating Income 4,072 6.0% 4,248 5.7% 4.3% Ebitda 6,161 9.1% 6,552 8.9% 6.3% Financial cost 1,190 1.8% 1,271 1.7% 6.8% Income from associates and JV 21 0.0% 9 0.0% -54.1% Income Before Taxes 2,903 4.3% 2,987 4.0% 2.9% Income Taxes 890 1.3% 925 1.3% 3.9% Consolidated Net Income 2,013 3.0% 2,062 2.8% 2.4%
Page 18
17 Contact: Humberto Tafolla Núñez Jesús Arturo Velázquez Díaz Deputy General Manager Ticker symbol (BMV): IR and Financial Information Deputy Director Tel. + 52 (228) 8-42-11-10 CHDRAUI B Tel. + 52 (228) 8-42-11-17 htafolla@chedraui.com.mx avelazquez@chedraui.com.mx Grupo Comercial Chedraui, S.A.B. de C.V. Consolidated Income Statements (Figures in million of mexican pesos) 2024 % Sales 2025 % Sales Growth % Sales 132,294 100.0% 148,324 100.0% 12.1% Cost of Sales 100,980 76.3% 113,054 76.2% 12.0% Gross Profit 31,314 23.7% 35,270 23.8% 12.6% Operating expenses 19,405 14.7% 22,462 15.1% 15.8% Depreciation and Amortization 3,938 3.0% 4,858 3.3% 23.4% Operating Income 7,970 6.0% 7,950 5.4% -0.3% Ebitda 11,909 9.0% 12,808 8.6% 7.5% Financial cost 2,256 1.7% 2,729 1.8% 21.0% Income from associates and JV 48 0.0% 56 0.0% 16.7% Income Before Taxes 5,763 4.4% 5,277 3.6% -8.4% Income Taxes 1,770 1.3% 1,648 1.1% -6.9% Consolidated Net Income 3,994 3.0% 3,630 2.4% -9.1%
Page 19
18 Contact: Humberto Tafolla Núñez Jesús Arturo Velázquez Díaz Deputy General Manager Ticker symbol (BMV): IR and Financial Information Deputy Director Tel. + 52 (228) 8-42-11-10 CHDRAUI B Tel. + 52 (228) 8-42-11-17 htafolla@chedraui.com.mx avelazquez@chedraui.com.mx GRUPO COMERCIAL CHEDRAUI, S. A. B. DE C. V. Y SUBSIDIARIAS CONSOLIDATED BALANCE SHEETS AS OF JUNE 30, 2025, 2024 (Figures in thousands of mexican pesos) June 2024 % June 2025 % Assets Current assets Cash and cash equivalents 9,068,291 9,740,315 672,024 7.4 Tr ade ac c ounts r ec eiv ables 143,365 203,975 60,609 42.3 Other currents recei va bl e 1,508,988 1,652,965 143,977 9.5 Current ta x a s s ets , current 3,997,494 3,652,797 -344,697 -8.6 Current inventories 21,555,030 22,914,705 1,359,675 6.3 Other current non-financial assets 1,175,136 1,443,429 268,293 22.8 Total current as s ets 37,448,304 25.1% 39,608,185 25.6% 2,159,882 5.8 Non-current assets Other non-current financial assets 878,645 464,252 -414,393 -47.2 Investments in subsidiaries, joint ventures and associates 939,289 1,010,304 71,014 7.6 Property, plant and equipment 47,428,178 51,477,245 4,049,067 8.5 Investment property 7,136,237 7,557,057 420,820 5.9 Right-of-use assets that do not meet definition of investment property 42,991,458 42,716,030 -275,428 -0.6 Goodwill 5,581,735 5,712,614 130,879 2.3 Intangible assets other than goodwill 4,068,763 4,050,715 -18,048 -0.4 Deferred tax assets 286,354 634,769 348,415 121.7 Other non-current non-financial assets 2,398,757 1,641,164 -757,592 -31.6 Financ ial der iv ativ e instr ument 135,243 23,504 -111,738 -82.6 Total non-current assets 111,844,659 74.9% 115,287,654 74.4% 3,442,995 3.1 Total assets 149,292,963 100.0% 154,895,840 100.0% 5,602,877 3.8 Equity and liabilities Liabilities Current liabilities Trade accounts payable 27,238,471 27,814,273 575,802 2.1 Other short-term accounts payable 9,694,414 7,642,326 -2,052,088 -21.2 C ur r ent tax liabilities, c ur r ent 293,660 401,729 108,070 36.8 Short-term bank debt 271,139 1,055,054 783,915 0.0 Other c ur r ent financ ial liabilities 28,015 29,337 1,322 4.7 C ur r ent lease liabilities 2,467,518 2,674,355 206,838 8.4 Other c ur r ent non-financ ial liabilities 119,696 59,835 -59,861 -50.0 Current provisions Current provisions for employee benefits 1,782,862 1,718,934 -63,928 -3.6 Other current provisions 696,056 851,854 155,798 22.4 Total current provisions 2,478,918 2,570,788 91,870 3.7 Total current liabilities 42,591,830 28.5% 42,247,697 27.3% -344,133 -0.8 Non-current liabilities Long Term Bank debt 8,260,596 7,557,120 -703,476 -8.5 Other non-c ur r ent financ ial liabilities 2,071,692 2,532,871 461,180 22.3 Non-c ur r ent lease liabilities 47,609,137 48,473,084 863,947 1.8 Other non-c ur r ent non-financ ial liabilities 40,972 19,661 -21,311 -52.0 Non-current provisions Non-current provisions for employee benefits 2,090,656 1,646,312 -444,344 -21.3 Defer r ed tax liabilities 1,560,663 1,033,812 -526,852 -33.8 Total non-current liabilities 61,633,716 41.3% 61,262,860 39.6% -370,856 -0.6 Total liabilities 104,225,546 69.8% 103,510,557 66.8% -714,989 -0.7 Equity Issued capital 252,119 252,119 0 0.0 Share premium 3,865,750 4,020,409 154,659 4.0 Trea s ury s ha res 514,710 372,547 -142,163 -27.6 Retained earnings 40,365,660 44,902,707 4,537,048 11.2 Other reserv es 438,290 1,836,096 1,397,807 318.9 Total equity attributable to owners of parent 44,407,110 29.7% 50,638,785 32.7% 6,231,676 14.0 Non-controlling interests 660,307 0.4% 746,497 0.5% 86,190 13.1 Total equity 45,067,417 30.2% 51,385,283 33.2% 6,317,866 14.0 Total equity and liabilities 149,292,963 100.0% 154,895,840 100.0% 5,602,877 3.8 Differences $ %
Page 20
19 Contact: Humberto Tafolla Núñez Jesús Arturo Velázquez Díaz Deputy General Manager Ticker symbol (BMV): IR and Financial Information Deputy Director Tel. + 52 (228) 8-42-11-10 CHDRAUI B Tel. + 52 (228) 8-42-11-17 htafolla@chedraui.com.mx avelazquez@chedraui.com.mx GRUPO COMERCIAL CHEDRAUI, S. A. B. DE C. V. Y SUBSIDIARIAS CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE PERIODS ENDED JUNE 30, 2025 AND 2024 FIGURES IN THOUSANDS OF PESOS June 2024 June 2025 Cash flows from (used in) operating activities Profit (loss) 3,993,605 3,629,519 Adjustments to reconcile profit (loss) + Adjustments for income tax expense 1,769,703 1,647,541 + (-) Adjustments for finance costs 1,145,792 1,487,684 + Adjustments for depreciation and amortisation expense 3,938,296 4,857,956 + (-) Adjustments for losses (gains) on disposal of non-current assets -73,960 -63,570 + (-) Participation in associates and joint ventures -48,374 -56,435 + (-) Adjustments for decrease (increase) in inventories -87,025 747,147 + (-) Adjustments for decrease (increase) in trade accounts receivable 382,408 204,278 + (-) Adjustments for decrease (increase) in other operating receivables -3,367,776 -745,234 + (-) Adjustments for increase (decrease) in trade accounts payable -5,196,384 -5,804,534 + (-) Adjustments for increase (decrease) in other operating payables 2,369,919 -2,061,215 + Other adjustments for non-cash items 219,855 -167,653 Total adjustments to reconcile profit (loss) 1,052,454 45,965 Net cash flows from (used in) operations 5,046,059 3,675,484 Dividends received, classified as operating activities 0 1,950 Net cash flows from (used in) operating activities 5,046,059 3,677,434 Cash flows from (used in) investing activities + Proceeds from sales of property, plant and equipment 154,146 37,986 - Purchase of property, plant and equipment -4,977,473 -3,456,981 - Purchase of intangible assets -58,273 -116,798 + Interest received 398,245 375,749 Net cash flows from (used in) investing activities -4,483,355 -3,160,044 Cash flows from (used in) financing activities - Payments to acquire or redeem entity's shares 13,535 -37,095 - Payments of other equity instruments -122,450 -91,671 + Proceeds from borrowings -271,138 119,860 - Repayments of borrowings -597,262 -202,115 - Payments of lease liabilities -1,114,007 -1,268,979 - Dividends paid -1,141,006 -1,003,396 - Interest paid -1,544,037 -1,863,433 Net cash flows from (used in) financing activities -4,776,365 -4,346,829 Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes -4,213,661 -3,829,439 Effect of exchange rate changes on cash and cash equivalents Effect of exchange rate changes on cash and cash equivalents -414,019 -87,729 Net increase (decrease) in cash and cash equivalents -4,627,680 -3,917,168 Cash and cash equivalents at beginning of period 13,695,970 13,657,483 Cash and cash equivalents at end of period 9,068,290 9,740,315
Page 21
20 Contact: Humberto Tafolla Núñez Deputy General Manager Tel. +52 (228) 8 42 11 00 htafolla@chedraui.com.mx Clave de Cotización: CHDRAUI B Jesús Arturo Velázquez Díaz IR and Financial Information Deputy Director Tel. +52 (228) 8 42 11 17 avelazquez@chedraui.com.mx