Q2 2024 Alsea SAB de CV Earnings Call Transcript
Key Points
- Sales increased by 2.3% year over year, reaching MXN19 billion, or a 9.6% increase when excluding foreign exchange effects.
- Same-store sales grew by a solid 9% year over year, demonstrating strong performance despite a challenging macroeconomic environment.
- EBITDA grew 7.6%, reaching MXN2.7 billion for the quarter, with a 14.5% margin, driven by operating leverage and lower costs of food and raw materials.
- Digital orders contributed significantly, with 32.9 million orders totaling MXN6.4 billion, accounting for 33.9% of total sales.
- The company opened 65 new stores during the quarter, focusing on the most profitable opportunities across all regions.
- Same-store sales in Europe declined by 9.9%, affected by a challenging consumption environment and boycotts of American brands in France and the Netherlands.
- Sales in South America declined by 9% for the quarter, mainly due to the devaluation of the Argentinean peso and reduced consumer demand.
- Net income for the second quarter decreased by 66.9% year-over-year to MXN157 million, primarily due to currency exchange translation effects.
- Adjusted EBITDA in Europe decreased by 14.9% due to macroeconomic pressures and brand boycotts.
- The company faces ongoing challenges in the delivery channel in Spain, affecting same-store sales.
Good morning, everyone, and welcome to Alsea's second quarter 2024 earnings video conference. My name is Gerardo Lozoya, Head of Investor Relations and Corporate Affairs. And today, our Chief Executive Officer, Armando Torrado; and our Chief Financial Officer, Federico Rodriguez, will be presenting the results. Before we continue, a friendly reminder that some of our comments today will contain forward-looking statements. Based on our current view of our business and that future results may differ materially from these statements.
Today's call should be considered in conjunction with disclaimers contained in our earnings release and in our most recent Bolsa Mexicana de Valores report. The company does not have any obligations to update or revise any such forward-looking statements. Please note that unless specified otherwise, the earnings numbers referred to are based on the pre-IFRS 16 standards.
I would now like to hand it over to Armando for his initial remarks. Please go ahead, Armando.
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
