SMU S.A. (SMU) Earnings Call Transcripts

SMU S.A.'s Latest Earnings Call - Q1 FY2026

In the first quarter of 2026, SMU S.A. reported a revenue increase of 2.1% year-over-year, driven primarily by Unimarc's performance. The company achieved a notable EBITDA growth of 9.6%, with an EBITDA margin expansion to 8.2%. Management signaled optimism for the remainder of the fiscal year, expecting revenue growth to exceed inflation due to improved performance in both Unimarc and low-cost formats, alongside ongoing efficiency initiatives.

Reported metrics

Guidance from management

Management expects revenue growth to exceed inflation for the remainder of the year, driven by improved performance in Unimarc and low-cost formats. They anticipate EBITDA margins to remain in the range of 8% to 8.5%.

What management said

Here we've got a text question I can go ahead and read it. So we have a question from Eduardo Ramirez from BICE. Could you quantify the incremental sales impact from the cash and carry format remodeling?

The sales decrease in the first quarter was minus 0.6%. But in the Q4 quarter in 2025 was minus 8.3%. The improvement was significant. But anyway, today is flat in the first quarter. We're expecting for the next quarter to increase especially for this improvement in the stores growing more in line with inflation in the end of this year. But we are very, very confident that in the next quarter, the increase in sales f...

What analysts pressed on

Analysts expressed concerns about the impact of inflation on operating expenses and the significant drop in net income. They sought clarity on revenue growth expectations and the potential for cash flow recovery in upcoming quarters.

Main topics on the call

• Revenue Growth and Performance — SMU reported a revenue growth of 2.1% in Q1 2026, with Unimarc achieving a 2.6% increase. Management noted, "We aren't yet where we want to be with these formats... but the numbers show that we are definitely on the righ...
• EBITDA Margin Expansion — The company achieved a 9.6% increase in EBITDA, with the EBITDA margin expanding to 8.2%. This was attributed to a combination of top-line growth and controlled operating expenses, which increased only 0.5%.
• Store Openings and Conversions — SMU plans to open 60 new stores over the next three years, with 16 openings planned for 2026. The conversion of Mayorista 10 stores to Alvi and Super10 formats is expected to enhance competitiveness and drive future grow...
• Cash Flow and Working Capital — The company experienced temporary working capital pressures, resulting in operating cash generation of CLP 39 billion, below EBITDA. Management expects cash flow to improve in the next quarter as nonrecurring expenses ar...

Read the full SMU S.A. transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 24 SMU S.A. earnings call transcripts on record, spanning March 18, 2020 to May 13, 2026. Based on this history, SMU S.A. reports quarterly. The most recent call on file is dated May 13, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

SMU

Exchange

SNSE

Country

CL

Sector

Consumer Staples

Industry

Consumer Staples Distribution and Retail

Calls on record

24

First call

March 18, 2020

Most recent

May 13, 2026

Reporting cadence

quarterly