Chedraui (CHDRAUI) investor relations material

Executive summary

• Achieved the milestone of opening the 1,000th store, with 32 new stores in Mexico during Q3 2025, accelerating organic growth.

• Maintained strong operational discipline and efficiency, delivering solid results despite challenging consumer trends in Mexico and headwinds from U.S. immigration enforcement.

• Supported employees and communities affected by severe flooding in Veracruz, ensuring safety and rapid recovery efforts.

• Net income rose 13.3% to $1,646 million pesos, driven by higher EBITDA and lower financial costs.

• Consolidated EBITDA increased 3.2% year-over-year, with margin up 28 basis points to 8.5%.

Financial highlights

• Consolidated net income grew 13.3% year-over-year to $1.646 billion pesos, representing 2.3% of sales.

• Consolidated EBITDA increased 3.2% to $6.129 billion pesos, with EBITDA margin expanding 28 basis points to 8.5%.

• Gross profit rose 4.8% year-over-year to $17,646 million pesos, with gross margin improving to 24.6%.

• Consolidated operating income grew 3.9% to $3,745 million pesos, with operating margin up 21 basis points to 5.2%.

• Net cash position at quarter-end was $743 million pesos, with net cash to EBITDA ratio at -0.03 times.

Outlook and guidance

• Confident in meeting sales guidance at the low end and potentially exceeding EBITDA margin guidance in Mexico.

• U.S. operations expected to be flat for the remainder of 2025, slightly below initial guidance due to ongoing immigration enforcement headwinds.

• Store expansion plans remain unchanged, with continued focus on both organic and inorganic growth opportunities.

• Long-term net income CAGR over the last four years reached 15.0%, supported by M&A and organic growth.

• Ongoing investment in infrastructure and sustainability initiatives.