Supermarket company SMU reported its financial results for the fourth quarter of 2024 this Monday, reaching revenues of CLP 749,781 million, a 1.5% increase compared to the fourth quarter of 2023 (Q4 2023). Unimarc was the format with the highest revenue growth, recording an increase of 2.4% in the fourth quarter.

The gross margin showed a significant recovery after two quarters in which this indicator had registered a decline compared to the same period the previous year. It reached 31.5% in Q4 2024, an increase of 70 basis points (bp) compared to the 30.8% recorded in the same period of 2023.

“In our ongoing effort to help our customers optimize their family budgets, during 2024 we implemented a change in our promotional strategy, focusing on basic products with high price sensitivity for consumers, thereby improving competitiveness and sales, though with a negative impact on gross margin in the second and third quarters. During the fourth quarter, we maintained this promotional strategy, contributing to the 1.5% revenue growth, while also recovering the margin through improvements in commercial efficiency and the optimization of the promotional assortment,” stated SMU CEO Marcelo Gálvez.

Likewise, this improvement in gross margin also contributed to a recovery in EBITDA margin, reaching 8.9% in the fourth quarter and 8.0% for the full year. “This positions us to continue progressing toward our long-term goal of 9% in the coming years,” added Marcelo Gálvez.

SMU’s EBITDA reached CLP 66,472 million in the fourth quarter of 2024, improving over previous quarters. Meanwhile, net income for the period reached CLP 15,560 million, a decrease of 56.8% compared to the fourth quarter of 2023, mainly due to the non-recurring effect of an insurance recovery in Q4 2023, which generated a gain of CLP 12,794 million in that period.

Regarding SMU’s financial position, during 2024 the company carried out four successful local bond placements, reaching a total of UF 5.5 million, as part of its strategy to refinance maturities for 2024 and 2025. These transactions allowed the company to flatten its maturity profile for the coming years.

During 2024, the company opened 20 locations, including 8 Unimarc, 4 Super10, and 2 Alvi stores in Chile, as well as 6 Maxiahorro stores in Peru. “We have continued advancing our store opening plan, which is part of SMU’s 2023-2025 omnichannel growth strategy and includes the opening of 58 stores over three years. Additionally, online sales, made both through SMU’s own platforms and through strategic alliances with last-mile delivery services, grew by 21% in 2024, reaching a 4% share of sales in stores with online operations, an improvement compared to the 2.8% achieved in 2023,” said Marcelo Gálvez.

In terms of customer experience, the company has continued developing its private label assortment, adding nearly 200 new high-quality products at affordable prices. In 2024, private label sales accounted for 13% of total sales.

Additionally, innovative initiatives have been incorporated into loyalty programs, such as new tiers in Club Unimarc, offering exclusive discounts to customers based on their membership level, which is determined by their purchase history. This way, preference is rewarded with immediate benefits, recognizing the most loyal and high-spending customers.

Regarding efficiency and productivity, during 2024 SMU expanded the coverage of its efficient operational model, reaching more than 220 stores. The company also tendered electricity supply contracts to migrate more locations to free-market electricity rates, which will generate future savings by securing lower tariffs and increasing the percentage of its electricity consumption sourced from renewable energy.

As part of its commitment to sustainability, the company has continued advancing initiatives that create shared value, including Unimarc’s 100% Nuestro program, which promotes the development of small regional suppliers while also offering an attractive assortment for customers. In terms of environmental care, through SMU’s Food Waste Reduction program, the company has prevented more than 7,000 tons of food from being discarded and has donated nearly 700 tons of food to institutions and charitable foundations.

Finally, thanks to SMU’s sustainability management, the company was included for the first time in the Dow Jones Sustainability Indices (DJSI) Chile and MILA. Additionally, SMU was recently included in the S&P Global Sustainability Yearbook 2025, which recognizes companies that achieved outstanding scores in the S&P Corporate Sustainability Assessment.

“Qualifying for the DJSI is a recognition of the continuous work of various SMU teams striving to fulfill our corporate purpose of achieving profitable and sustainable growth through our multiformat strategy, meeting our customers’ needs, and creating shared value for all our stakeholders,” concluded Marcelo Gálvez.