Almacenes Éxito could change ownership. The French company Casino is studying the possibility of selling the operations of Grupo Pão de Açúcar from Brazil, which, in turn, owns these iconic stores in Colombia.
This sale has been contemplated for several months, but only until today have more specific intentions been expressed. The company seeks reduce its millionaire debt of 6,400 million euros in half to achieve “a perennial capital structure”.
(Also read: Will Éxito change ownership? A multinational makes an announcement that it will move the market in Colombia)
In the country, this conglomerate has 563 of its 2,541 stores.
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If the sale comes to fruition, this would be one of the most important business moves of the year, as in 2022 Almacenes Éxito was positioned as the sixth largest company in sales throughout the country, after Ecopetrol, Reficar, Terpel, Cerrejón and Drummond.
In fact, it is the first largest company in sales that is not related to the hydrocarbons and mining sector. However, it fell one place from the fifth position it held in 2021, more due to the increase in revenue from companies in the extractive sector than due to its own performance.
Success Stores is present in 23 departments of Colombia with 515 stores, which operate under its different brands such as Éxito, Éxito Wow, Carulla, Carulla Express, Surtimax and Super Inter. Additionally, it has close to 35,000 employees.
(Also read: These were the 1,000 largest companies in Colombia in 2022)
In 2022, it sold 15.1 trillion pesos, an increase of 16.1 percent over the previous year. In addition, it reported profits of 99,000 million pesos, although they fell 79 percent.
According to figures revealed by the Superintendence of Companies, sour assets are 14.8 trillion pesos and increased 3 percent last year.
Within the retail sector, Almacenes Éxito is the largest company and leader in sales. Among the 1,000 largest companies in the country, there are 17 companies in this sector and Almacenes Éxito represents 26 percent of total sales in this sector.
follows him D1 storesthat in recent years it has come very close and last year anticipated selling 24 percent of the sector, with 14 billion pesos, only one billion pesos below what was achieved by Almacenes Éxito.
(Read also: Not only Éxito: millionaire businesses that would change owners if Casino de Colombia left)
Regarding its profitability, in 2022 it was similar to the group of companies in the sector. The return on assets, what is earned for each dollar investedit was 1 percent and Success was also 1 percent.
The return on equity -the pesos earned for each peso left when debts and obligations are subtracted from assets- in the sector was 3 percent and in Éxito it was 1 percent.
is its main competitor, Tiendas D1the return on assets was 6 percent and the return on equity was 193 percent.
