Organizacion Soriana SAB de CV Class B ( (ONZBF) ) has released its Q4 earnings. Here is a breakdown of the information Organizacion Soriana SAB de CV Class B presented to its investors.
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Organización Soriana, S.A.B. de C.V. is a prominent retail company in Mexico, operating in the hypermarket sector with various store formats, including hypermarkets, supermarkets, and express stores, along with a focus on sustainability and social responsibility initiatives. The company recently released its financial results for the fourth quarter and full year of 2024, showcasing steady annual revenue growth but facing challenges in quarterly comparisons.
In the fourth quarter, Soriana reported total revenues of $48,992 million pesos, a slight decline of 0.8% compared to the same period last year, primarily due to extraordinary income from hurricane-related sales in the previous year. Despite this, the company’s annual revenue grew by 1.7% to $179,112 million pesos. The company also opened 18 new stores and two Sodimac locations, with a capital expenditure of $7,542 million pesos for the year.
Key financial metrics reveal that while the gross profit for the quarter increased by 2.1% to $11,674 million pesos, operating expenses also rose significantly by 11.6% due to new store openings and personnel costs. This led to a 7.9% decline in EBITDA for the quarter to $3,904 million pesos. Net profit for the quarter was $1,857 million pesos, representing a 15% decrease from the previous year. On an annual basis, net profit stood at $3,909 million pesos, a 22.5% decline from 2023.
Looking ahead, Soriana’s management remains committed to expanding its store network and enhancing its social responsibility through initiatives in education, community development, and sustainability. The company aims to transition more stores to natural gas and develop a vast network of electric vehicle charging stations in partnership with FAZT. These strategic moves are intended to position Soriana as a leader in sustainable retailing in Mexico.