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Cencosud has been forgotten in 2018: profit fell 56%



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At the same time, they killed Cencosud income down 7.8% standing at $ 9,755,154,000,000 at the end of last year.

Cencosud holding company with business activities in supermarkets, home improvement and department stores saw a profit of $ 190.594 billion in the five countries of the region at the end of 2018, representing a drop of 56.5% compared to the immediately prior to exercise.

The main reasons for this decline, the company controlled Horst Paulman analyzed the impact caused by the events of exchange rates in the markets in which it operates, in particular, the devaluation of the Brazilian real 14.6% and 38, 5% of the peso. The company also noted the impact on this field the lower revaluation of assets associated with the device of shopping centers, as well as the influence of the application of IAS 29 (International Accounting Standard for its acronym in English, which is used in the case of hyperinflation).

The reduction of 26.1% in the operating point, which rose from $ 825,411,000 in 2017 to $ 608.906 million in December last to the impact of the effects of inflation, said $ 41.513 million and the conversion of – $ 35.3 billion,

At the same time, they killed Cencosud income down 7.8% standing at $ 9,755,154,000,000 at the end of last year.

As a result of this evolution has decreased by 8.6% to sitiarse to $ 635.599 million in December last year by Cencosud in 2018, the rate of EBITDA.

Performance in the fourth quarter

In connection with the consolidated financial results for the fourth quarter of 2018, Cencosud announced that its revenues grew by 9.2% at constant change, evolution is mainly due to higher income reported in all countries, highlighting the performance in their areas of supermarkets and department stores in Peru as well as improving retail houses in Chile and Colombia, with growth above inflation.

As reported, including accounting adjustments in Argentina 3T18, introduced a standard IAS29 IFRS, revenues increased by 3.7% year on year, "the company said in a statement.

The fronts on which you are working

Following the conference, Cencosud said that the next steps in the project will allow the remaining gaps in the Costanera Center "analysis of the work must be guaranteed, and start the work. In parallel with this, as the law allows, you'll receive a building. "

He added that they can not even begin marketing the tower waiting for the official reception.

As for the bag opening shopping centers, he said that "we are moving in the trial (…) we go according to internal schedules."

According to the results, he noted that currency devaluations in Argentina and Brazil affected his balance. "The way the results are taken into account Argentina is also changing," he added.

In particular, in Argentina, the company said that the people "are still buying, the problem is the average price, which obviously depends on the demand and the hope that he recovers soon."

As for the amenities offered on the market, the company said this, and other initiatives, such as the sale of non-strategic assets and comerciales- IPO centers will reduce its debt ratio "for three times net debt / EBITDA ratio at the end of 2019"

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