FY 2022 Results
Latin America: Solid earnings growth despite BIG integration costs
LatAm ROI up +20.4% at constant FX
ROI at current FX, evolution at constant FX
+€157m
at constant-FX
€80m
FX
+€49m
at constant-FX
+6%
+20%
Latin America 2022 LFL of +24.6%
BRAZIL
> +12.4% LFL sales, with non-food back to positive
territory (+7.0% LFL) and strong growth in food
(+13.4% LFL)
› Strong market share gains (+80bps) on historical
scope (excl. Grupo BIG effect)
ARGENTINA
› Strong performance with growing volumes and
continued market share gains
€786m
€(67)m
FX
€768m
€1,005m
LFL
2022
2020
2021
2022
Brazil
+12.4%
ROI - Em
2021
2022
Variation
at constant-FX
› Retail
+10.8%
Brazil
714
914
+28.0%
+8.8%
ROI Margin
6.2%
› Atacadão
+12.9%
Argentina
Argentina
+84.3%
ROI Margin
55
2.4%
5.1%
92
3.1%
-111bps (1)
+67.5%
+72bps
+171.9%
FY 2022 RESULTS
(1) ROI margin in Brazil down (6)bps excluding Grupo BIG perimeter
February 14, 2023
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