- The consolidated Ebitda of the group’s businesses -Falabella Retail, Sodimac, Mallplaza, Banco Falabella, and Tottus- was US$ 1,457 million, almost double that of 2023. The Ebitda margin, meanwhile, increased 536 pp, reaching 11.9%, its best level since 2021.
- During the fourth quarter, retail revenues increased by 14%, revealing strong traction of its omnichannel value proposition.
Santiago, February 25, 2025. – Grupo Falabella presented its results for the fourth quarter of 2024 reporting earnings of US$ 221 million, the highest figure for this period since 2021, and ended the year with earnings of US$ 483 million, eight times higher than in 2023.
Consolidated revenues during the last quarter of the year reached US$3.555 billion, up 13.5% year over year, explained by the positive performance of the three retailers in the region. At the end of 2024, annual revenues rose 8.1% to US$12.197 billion.
Quarterly Ebitda was US$ 501 million, a year-on-year increase of 71.1%. For the year, Ebitda increased 95.9% to US$ 1,457 million. The Ebitda margin increased 475 pp in the fourth quarter, reaching 14.1% year-on-year and 11.9% for the year, the best levels since 2021.
As a result of the company’s steadily improving operating profitability and robust cash position, the non-bank leverage ratio of net financial debt to EBITDA decreased to 2.6 times at the end of the fourth quarter, in line with our financial strategy.
The company’s CEO, Alejandro González, said: “We are closing 2024 in a strong position, making solid progress in the implementation of our strategy, thanks to teamwork and our ability to adapt. For 2025, we will continue to strengthen our omnichannel proposal, with an investment plan of US$650 million that will allow us to continue to take advantage of the opportunities presented by our five main businesses, while continuing to strengthen profitability, maintaining the savings achieved”.
The investment plan announced by the company in December considers growth through store and shopping center transformation and expansion projects (US$359 million), openings (US$99 million) and the strengthening of technological capabilities (US$166 million).
Growth and milestones of the group’s businesses during the fourth quarter of 2024
In the digital banking segment, Banco Falabella continued to consolidate its position as one of the main players in the region, thanks to the opening of more than 800 thousand cards and checking accounts, growing 14% year over year. In addition, the financial business in Mexico began the regulatory authorization process to become a SOFIPO (Sociedad Financiera Popular). If approved, this would enable it to broaden the range of financial products and services it currently offers, deepening its relationship with customers and reducing the cost of funding.
During the quarter, we highlighted the 14% increase in retail revenues, in a consumer environment that is still recovering, confirming the great traction of our value proposition:
- Better sales at Sodimac, which increased by 15%, amid a scenario that remains challenging for construction, highlighting the growth of our e-commerce (+18% YoY)
- Better performance of Falabella Retail stores, whose revenues grew by 15% (Same Store Sales grew 17% in local currency), due to a successful holiday season, reflecting our attractive omnichannel proposition. In addition, the e-commerce value proposition continued to strengthen: Sellers’ GMV rose 10% year-on-year and their share reached 27% of total e-commerce sales.
- Tottus, which has just announced the opening of seven new stores to expand its customer base and reach more communities, posted positive results, with revenues up 13% year on year. The supermarket chain recently announced a transformation in store experiences through design changes and the strengthening of food categories.
In the shopping center segment, Mallplaza, as part of its GLA growth strategy via brownfield -remodeling and expansion of stores-, inaugurated the Mallplaza Vespucio Lifestyle in Chile (+20 thousand m²), thus reinforcing its urban center proposal. It also completed the takeover bid to acquire the real estate assets in Peru, enabling the company to consolidate its position as the largest shopping center operator in the region.
About Grupo Falabella
With more than 36 million customers and 135 years of history, Grupo Falabella is the leading physical-digital ecosystem in Latin America, through its digital banking, retailers and shopping centers. It is present in seven countries and employs more than 80,000 people. Through its brands Banco Falabella, Falabella Retail, Sodimac, Tottus, and Mallplaza and the Ikea franchise, the group works for the purpose of “simplifying and enjoying life more”.
*Official version in Spanish
