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First Nine Months 2019 Results

In the first nine months of the year, consolidated sales totalled 13.7 billion euros, which corresponds to a 6.7% year-on-year increase. The Group's EBITDA saw the same growth and totalled 757 million euros. Net income totalled 302 million euros, up 3.5% year-on-year.

Sales
13.7 B€
Profit
302 M€
EBITDA
757 M€
Investment
405 M€

Message from the Chairman and Chief Executive Officer

Pedro Soares dos Santos

These results highlight our banners’ remarkable ability to grow consistently faster than the markets in which they operate. Our consumer centric approach and the primacy given to sales, while preserving the efficiency of the business models, are the common drivers of our Companies' performance. In Colombia, a more assertive strategy in terms of assortment and price produced stronger sales growth and provided further validation of the commercial potential of our store network. Our banners are well prepared for the last and most important quarter of the year. We feel confident that we will deliver another good year both in terms of growth and profitability.

Note: Performance analysis in this release is presented excluding IFRS16 impact