In addition, sales have increased by 6% year-on-year, exceeding US$ 8.743 billion.
Chilean retail chain Falabella has achieved a profit of 260.885 billion Chilean pesos (US$ 265 million) in the first nine months of the year compared to losses of 9.794 billion Chilean pesos (US$ 9.95 million) recorded in the same period of the previous year.
In addition, sales have increased by 6% year-on-year, reaching over 8.6 trillion Chilean pesos (US$ 8,743 million). This increase is explained by lower levels of sales declines at the main retailers , and by a positive effect resulting from the depreciation of the Chilean peso.
Non-banking business revenues exceeded 7.24 trillion Chilean pesos (US$ 7.36 billion), 8.1% more than in the first three quarters of the previous year. Banking revenues, meanwhile, fell 3.7% year-on-year.
For its part, Falabella has multiplied its operating profit by more than five times (increase of 449.3% compared to the previous year), bringing it to 606.944 billion Chilean pesos (US$ 617 million).
This increase is explained by the growth in consolidated gross profit and by the containment of administrative and sales expenses, "reflecting the efforts of operational efficiencies."
By market, revenues grew 14.3% year-on-year in Brazil, 24.2% in Colombia and 14% in Peru. Meanwhile, revenues from retail formats in Chile grew 1.1%.
Meanwhile, gross operating profit (EBITDA) was 951,863 million Chilean pesos (US$ 967 million), which is double the figure from the previous year.
POSITIVE THIRD QUARTER
As for the third quarter, Falabella has also managed to leave behind the losses of the same period of the previous year, and has recorded a net profit of 87,056 million Chilean pesos (US$ 88.5 million).
General Manager Alejandro González stressed that the company closed the third quarter "consolidating four consecutive quarters of improved financial results", thanks to the ability to adapt and effectively execute the strategic plan.
Total revenues grew by 5.8% year-on-year, explained by the increase in sales of all its retail businesses, which showed higher growth levels than the previous quarter, in local currency, "despite continuing to face a challenging macroeconomic environment in the region."
EBITDA also increased by 82% to 368 million Chilean pesos (US$374,135) and operating income tripled.
"Looking to the future, we see significant growth potential in each of our five business drivers, leveraging the strengths of our brands, our omnichannel strategy and the solid ecosystem we have developed, which will allow us to strengthen our leadership in the industry and generate value for our customers and shareholders," said Falabella's CEO.
