-
Consolidated Revenue Growth: 4.8% increase in Q1 2025.
-
Adjusted EBITDA: 7.1% decrease compared to Q1 2024.
-
Net Income: S/192 million, a 13.3% decrease from Q1 2024.
-
Food Retail Revenue Growth: 6.1% increase despite temporary closures.
-
Food Retail Adjusted EBITDA: 15.2% decline due to temporary closures and one-time expenses.
-
Pharma Revenue Growth: 3.4% increase driven by the pharmacy unit.
-
Pharma Adjusted EBITDA: 8.9% increase.
-
Shopping Mall Revenue Decline: 4.8% decrease due to temporary closures.
-
Shopping Mall Adjusted EBITDA: 28.3% decline.
-
Same-Store Sales Growth (Food Retail): 2.1% increase.
-
Same-Store Sales Growth (Pharma): 4% increase.
-
Net Debt: S/6,239 million with a net debt to adjusted EBITDA ratio of 2.1x.
-
CapEx: S/283 million invested in Q1 2025.
-
Cash Balance: Approximately S/1.4 billion at the end of Q1 2025.
-
New Store Openings: 95 net new mass stores and 19 net new pharmacies in Q1 2025.
Release Date: May 14, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
-
InRetail Peru Corp (LIM:INRETC1) reported a mid-single digit growth in revenues of 4.8% despite extraordinary impacts.
-
The food retail segment achieved a 6.1% growth in revenues, driven by the mass format.
-
The pharma segment posted a 3.4% increase in revenues, with an 8.9% growth in adjusted EBITDA.
-
The company opened 95 net new mass stores in Q1 2025, contributing to the expansion of its sales area.
-
InRetail Peru Corp (LIM:INRETC1) maintains a healthy financial position with a net debt to adjusted EBITDA ratio of 2.1 times.
Negative Points
-
The Real Plaza Trujillo incident resulted in temporary closures and increased operating expenses, impacting financial results.
-
Adjusted EBITDA declined by 7.1% compared to Q1 2024, mainly due to extraordinary impacts and a decreasing gross margin.
-
Net income decreased by 13.3% in the quarter, affected by the decline in adjusted EBITDA.
-
The shopping mall segment experienced a 4.8% decline in revenues and a 28.3% decline in adjusted EBITDA due to the incident.
-
The company anticipates continued extraordinary impacts in the second quarter, particularly related to the Trujillo mall.
Q & A Highlights
Q: Regarding food retail and the openings of mass stores, should we expect 300 to 350 store openings this year, or potentially more? Also, can you provide an update on your plans in Chile? A: We are still planning to open around 300 stores this year. The difference this year is that we are front-loading some of the openings, which is affecting margins in the first and second quarters. We opened 96 stores in the first quarter, which is part of this strategy. As for Chile, we are still in the early stages, learning about the format and making necessary adjustments. We hope to start opening new stores by the second semester.