Organigrama Cencosud

Cencosud is a leading multi-format retailer in Latin America…

Key metrics (2011)
Colombia
35,360 m2 selling space
4 Home improvement sores

Brazil
380,845 m2 selling space

!
"

#

$%

152 Supermarkets
0.9 million active credit cards
(JV with Bradesco)

Peru
288,081

m2

'
*

'

$% !
!
()
, "- !%
, "- !% !
.
, "- % 6
, "- )
!

'
+

selling space

74 Supermarkets

/'0
7

2 Shopping Centers
0.3million active credit cards

%&

' 123 /
45
'#

Stores and shopping centers (2011)
Chile

Formats

1,295,240 m2 selling space
189 Supermarkets
29 Home improvement stores
35 Department stores
9 Shopping Centers
2.2 million active credit cards

Total

Supermarkets

Argentina
1,121,563 m2 selling space
269 Supermarkets
48 Home improvement stores

189

269

152

74

-

684

Home Improvement

29

48-

-

4

81

Department stores

35

-

-

-

-

35

Shopping Centers

9

14

-

2

-

25

262

331

152

76

4

825

Total

14 Shopping Centers
0.9 million active credit cards

Note: Figures exclude Prezunic (31 stores and net sales of R$2.2 billion during 2011) acquired on January 2, 2012
1 As of March 15, 2012
2 EBITDA, further adjusted to exclude the effect of exchange differences, increase onrevaluation of investment properties, results from price level restatement and negative goodwill associated with Johnson’s acquisition

… with a well-recognized brand portfolio and integrated multi-format
strategy…

Formats
Supermarkets

Brands

Market position
# 2 Chile and Argentina
# 1 Peru
# 1 Minas Gerais, # 2
Northeast Region and # 3
Rio de Janeiro (Brazil)

Department
stores

# 2 ChileHome
Improvement

#1 Argentina
# 2 Chile

Shopping
Centers

# 2 Chile
# 2 Argentina

Consumer
Finance

Chile: 2.2 million cards
Brazil: 0.9 million cards
Argentina: 0.9 million cards
Peru: 0.3 million cards

…and a proven track record in successfully integrating acquisitions
Expansion in key metrics
2006

2011

2011 vs. 2006

# of stores

486

825

1.7x

Selling space (mm sq. meters)

1.9

3.11.6x

5,874

15,625

2.7x

495

1,287

2.6x

6,223

13,1082

2.1x

Net revenues ($ million)
Adjusted EBITDA ($ million)1
Market capitalization ($ million)

And a new cycle of
growth has began

IPO in the
Santiago Stock
Exchange
Chilean market
consolidation

During last five years
Cencosud has made 8
acquisitions for more than
US$2.2 billions

Opened the first
supermarket

2012

2011

2010

2009

20082007

2006

2005

2004

2003

2002

2000

1993

1988

1982

1976

Source: Cencosud, Factset
Note: Figures exclude Prezunic (31 stores and net sales of R$2.2 billion during 2011) acquired on January 2, 2012
1 EBITDA, further adjusted to exclude the effect of exchange differences, increase on revaluation of investment properties, results from price level restatement and negative goodwill associatedwith Johnson’s
acquisition
2 As of December 31, 2011

Revenues and EBITDA continue their positive evolution

Revenues evolution (USD$ bn)

+12%

5,0

5,9

2005

2006

8,1

9,4

15,6

12,2

10,5

3,8
2007

2008

2009

2010

4Q 2010

2011

4,3
4Q 2011

EBITDA ($ mm) and EBITDA margin (%) evolution

1.000

8,4%

8,5%

800

8,5%

7,1%

200

412

494

688

667

1,287

7,3%

600
400

8,3%

1.0508,2%

2006

2007

2008

6%
4%

333
2009

2010

10%
8%

+25.2%

767

0
2005

8,7%

8,4%

2011

365

4Q 2010

2%

4Q 2011

0%

Revenues in 2011 increased 28%, due mainly to double digit sales growth in all the business divisions
Consolidation of Bretas and 72 new openings contributed to sales expansion
Full year EBITDA increased by 19% due to better operations performance
Source: Cencosud
Note: 2005 –2009 figures in Chilean GAAP while 4Q 2010 and 4Q 2011 figures in IFRS; CAGRs calculated in local currency; Figures exclude Prezunic (31 stores and net sales of R$2.2
billion during 2011) acquired on January 2, 2012

Cencosud’s

calculation

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