Cencosud Reports First Quarter Results, with Significant Progress in Consolidating Its Retail Ecosystem

• The Company posted revenues of CLP 4,041,009 million (USD 4.565 billion) in the first quarter of 2026, representing a 0.2% year-over-year increase, mainly explained by foreign exchange effects that resulted in lower revenues in Chilean pesos from the Argentine operation.

• Against a regional backdrop marked by global uncertainty and a demanding comparison base, the Company continued advancing its transformation plan, aimed at strengthening its value proposition, improving operational efficiency, and building solid foundations for future growth.

• The online channel continued consolidating its position as a key business pillar, with double-digit growth in Peru and Colombia and a 15.6% penetration rate in Chile, mainly driven by the strengthening of the Prime loyalty program.

SANTIAGO, Chile--(BUSINESS WIRE)--Cencosud S.A. reported its financial results for the first quarter of 2026, during a period marked by heightened international uncertainty and competitive pressure. In this context, the Company maintained resilient performance across its core operations and continued executing its transformation plan, focused on strengthening its business model and laying solid foundations for long-term growth.

In terms of consolidated revenues, the Company reported a 0.2% year-over-year increase in the first quarter of 2026, reaching CLP 4,041,009 million (USD 4.565 billion). Excluding accounting adjustments associated with hyperinflation and foreign exchange effects in Argentina, consolidated revenues reached CLP 3,956,983 million (USD 4.470 billion), representing a 4.4% decrease versus the first quarter of the previous year.

Net income for the period totaled CLP 102,144 million (USD 115 million), representing a 19.2% decrease compared to the first quarter of 2025, mainly explained by foreign exchange variations and higher deferred taxes associated with Argentina’s hyperinflation adjustment.

Adjusted EBITDA reached CLP 333,388 million (USD 377 million), a decrease of 11.4% versus the first quarter of 2025, with an Adjusted EBITDA margin of 8.3%. This variation was primarily driven by foreign exchange effects, lower sales in Department Stores and Home Improvement operations in Chile and Argentina, together with higher risk provisions in Argentina. Adjusted EBITDA excluding Argentina accounting adjustments reached CLP 343,959 million (USD 389 million), representing a 12.4% year-over-year decrease, with an Adjusted EBITDA margin of 8.7%.

During the first quarter of 2026, Cencosud continued advancing the implementation of its transformation plan, achieving meaningful progress in portfolio optimization, strengthening operational capabilities, and developing an increasingly integrated ecosystem.

“We are managing short-term challenges with discipline while building the capabilities that will define Cencosud’s future. While we recognize that these changes may have short-term impacts, these initiatives form the foundation of our growth strategy, enabling a more integrated, scalable, and customer-centric ecosystem, with increasingly personalized, synergistic, innovative, and agile value propositions across the region. Together with our robust investment plan focused on growth and technological capabilities, we remain fully confident in the future evolution of our businesses,” said Rodrigo Larraín, CEO of Cencosud.

Quarterly Highlights in the United States:

UNITED STATES
Revenues	1Q26		1Q25		Var. %
	CLP MM	%	CLP MM	%	CLP ∆ %	LC ∆ %
Supermarkets	504,834	12.8%	538,218	13.0%	-6.2%	2.4%
Revenues	504,834 (USD MM 570)	12.8%	538,218 (USD MM 608)	13.0%	-6.2%	2.4%
	CLP MM	Mg (%)	CLP MM	Mg (%)	CLP ∆ %	LC ∆ %
Adj. EBITDA	49,664 (USD MM 56)	9.8%	54,978 (USD MM 62)	10.2%	-9.7%	-1.4%

SSS (LC)	1Q26	1Q25
Supermarkets	-2.7%	3.7%

Supermarkets

Revenue increased 2.4% in USD and decreased 6.2% in CLP year-over-year. The improvement compared to 1Q25 was mainly driven by growth in the online channel (+13.0% year-on-year) and the contribution from stores opened over the last 12 months. During the quarter, The Fresh Market opened four new stores: two in Miami and one in Pittsburgh, and reopened a remodeled store in Hendersonville, after a 24-month closure caused by hurricane-related damage.

Adjusted EBITDA decreased 1.4% in LC and 9.7% in CLP YoY, mainly driven by a slight contraction in gross margin and one-off expenses from store openings.

About Cencosud

Cencosud, whose purpose is to serve customers extraordinarily at every moment, is one of the largest and most prestigious retailers in the Americas. The Company operates in six countries, with more than 115,000 employees, 1,446 retail stores, and over 3.5 million square meters of selling space. Its multi-format strategy spans Supermarkets, Home Improvement, Department Stores, Shopping Centers, and Financial Services. The Company also drives innovative business lines such as Cencosud Media and Private Labels, leveraging technology to enhance the customer experience.