Q3 2024 InRetail Peru Corp Earnings Call Transcript
Key Points
- InRetail Peru Corp (LIM:INRETC1) reported a sound growth in revenues of 5.8% and adjusted EBITDA growth of 6% in Q3 2024.
- The Food Retail segment posted a strong revenue growth of 7.4%, driven by Mass and Plaza Vea formats.
- The Pharma segment showed recovery with a 4.7% increase in revenues, benefiting from a strong winter campaign.
- The Shopping Malls segment experienced stable growth with revenues and adjusted EBITDA increasing by 3% and 7.1%, respectively.
- InRetail Peru Corp (LIM:INRETC1) maintained a healthy consolidated leverage ratio with a net debt to adjusted EBITDA ratio of 2.2 times, showing a decrease from the previous year.
- Despite growth, the Food Retail segment's adjusted EBITDA margin declined by 44 basis points due to increased operational expenses from new stores.
- The non-pharma categories in the Pharma segment were partially affected by a decrease in discretionary categories like herbal supplements and baby care products.
- The Shopping Malls segment faced lower growth in income from management services, which represents a significant portion of total income from tenants.
- Cinemas within the Shopping Malls segment continued to be affected by the lack of blockbuster content, impacting tenant sales.
- The company faces challenges with short-term debt, although they are actively managing it through refinancing strategies.
Good morning, everyone, and welcome to InRetail Peru's third quarter 2024 conference call. (Operator Instructions) . And please note that this call is being recorded. (Operator Instructions) Before we begin, I would like to remind you that today's call is for investors and analysts only. Therefore, questions from the media will not be taken.
Joining us today from InRetail Peru are Mr. Juan Carlos Vallejo, Chief Executive Officer; Mr. Marcelo Ramos, Chief Financial Officer; and Mrs. Vanessa Danino, Investor Relations Officer. They will be discussing the quarterly report distributed by the company yesterday. If you have not received a copy of the earnings report, please visit www.inretail.pe on the Investors section. And there is also a webcast presentation to accompany the discussion during this call. If you need any assistance, please contact the Investor Relations team of InRetail Peru.
Please be advised that forward-looking statements may be made during this conference call, and they do not account for economic
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