El Puerto de Liverpool (LIVEPOLC) investor relations material

Executive summary

• Second quarter 2026 saw soft consumer demand, increased competition, and spending concentrated around key promotional events, with the FIFA World Cup temporarily impacting category performance.

• All business segments contributed to consolidated revenue growth, with Financial Services and Real Estate outperforming Retail.

• Operational challenges from the new logistics facility were resolved, and the e-commerce platform migration was completed, though it temporarily weighed on digital GMV growth.

• Net income surged 55.4% to $5.1 billion pesos, driven by lower net financial expenses and full-quarter contribution from Nordstrom.

• Strategic focus on omnichannel growth, digital transformation, and customer experience, supported by robust logistics and IT investments.

Financial highlights

• Consolidated revenue reached $229,137 million pesos in 2026, up 1.5% year-over-year; 2Q26 revenue was $57.3 billion pesos.

• Financial Services revenue grew 9.9%, Real Estate 8.6%, and Retail 0.4% year-over-year.

• EBITDA for 2026 was $8,522 million pesos, margin 14.9%, down 41 bps year-over-year.

• Gross margin expanded by 188 bps to 41.9% year-over-year, driven by FX, inventory management, and Financial Services.

• Net Debt/EBITDA ratio stands at 0.62x, reflecting a conservative leverage approach.

Outlook and guidance

• Revised full-year 2026 guidance: Liverpool same-store sales 2.5%-3.5%, Suburbia -1% to +1%, digital GMV growth 10%-12%, net loan portfolio growth 6%-8%, EBITDA margin 14.5%-15.5%.

• Expectation of more favorable year-over-year comparisons in H2, but macro uncertainty and soft demand persist.

• NPLs forecasted at 4.2%-4.7%; NPLs provision growth of 20%-25%.

• CAPEX planned at $8–$9 billion pesos for 2026.

• Focus remains on margin protection, disciplined expense management, and leveraging Financial Services and Real Estate.