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Closer to You Annual Report 2017 2017 Was a Year of Strenuous Consolidation Efforts As We Were Still in the Process of Merging Comercial Mexicana Stores to Soriana

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Closer to You Annual Report 2017 2017 Was a Year of Strenuous Consolidation Efforts As We Were Still in the Process of Merging Comercial Mexicana Stores to Soriana Closer to you Annual Report 2017 2017 was a year of strenuous consolidation efforts as we were still in the process of merging Comercial Mexicana stores to Soriana. We implemented best practices that are enabling us to upgrade our new business processes and operating systems, and thus improve Company efficiency and competitivity. Moreover, we optimized our logistics network and distribution centers, adhered to the stores units’ remodeling and upgrading program, CONTENTS opened a new store concept and started new services that, together with the stores, will allow us to offer a better shopping experience Soriana Today 2 Financial Highlights 3 to customers. Company Profile, Mision, Vision, Values 4 Presencia 5 Letter from CEO 6 Integration 8 New Business 10 Commercial Strategy 14 Human Resources 16 Logistics and Operations 18 Corporate Responsibility 20 Board of Directors 22 Audited Financial Results 24 FINANCIAL HIGHLIGTS (Millions of Mexican pesos) 2013 2014 2015 2016 2017 Total Revenues 105,028 101,829 109,380 149,522 153,637 % of Increase Total Stores 0.4% (3.0%) 7.4% 36.7% 2.8% % of Increase Same Stores (2.2) (4.8) 5.6 7. 2 3.2 Gross Profit 22,229 22,491 23,155 33,161 34,356 % Gross Margin 21.2% 22.1% 21.2% 22.2% 22.4% % of Increase 3.1 1.2 3.0 43.2 3.6 SG&A Expenses 14,695 15,431 15,693 21,321 21,955 % SG&A Expenses 14.0% 15.2% 14.3% 14.3% 14.3% % of Increase 4.0 5.0 1.7 35.9 3.0 EBITDA(1) 7,534 7,060 7,461 11,840 12,401 % EBITDA(1) 7.2% 6.9% 6.8% 7.9% 8.1% % of Increase 1.5 (6.3) 5.7 58.7 4.7 Operating Income 5,558 4,977 5,306 8,376 9,150 % Operating Income 5.3% 4.9% 4.9% 5.6% 6.0% % of Increase 2.7 (10.5) 6.6 57. 9 9.2 Net Earnings 3,117 3,704 3,726 4,208 4,606 % Net Earnings 3.0% 3.6% 3.4% 2.8% 3.0% % of Increase (12.4) 18.8 0.6 12.9 9.4 Cash Net Profit 6,323 5,837 6,705 7,215 6,763 % Cash Net Profit 6.0% 5.7% 6.1% 4.8% 4.4% % of Increase 3.2 (7.7) 14.9 7. 6 (6.3) Total Assets 78,952 80,720 101,845 129,077 129,340 MORE THAN $153 BILLION PESOS IN TOTAL REVENUES IN 2017 % of Increase 6.2% 2.2% 26.2% 26.7% 0.2% Total Liabilities 35,553 34,320 51,716 74,779 70,458 % of Increase 4.2% (3.5%) 50.7% 44.6% (5.8) 824 STORES & 14 DISTRIBUTION CENTERS Shareholders’ Equity 43,400 46,400 50,129 54,298 58,882 % of Increase 7. 8 6.9 8.0 8.3% 8.4% Customers (millions) 578.9 573.5 578.6 734.9 714.4 PRESENCE IN ALL 32 STATES OF THE MEXICAN REPUBLIC % of Increase (1.2%) (0.9%) 0.9% 27.0% (2.8%) Employees (thousands) 80.9 85.3 81.8 103.5 104.5 % of Increase (5.6%) 5.4% (4.1%) 26.5% 1.0% MULTI-STORE FORMAT + MULTI-REGION BUSINESS STRATEGY Number of Stores 659 674 682 827 824 % of Increase 8.7% 2.3% 1.2% 21.3% (0.4%) Sq. mts. of Sales Floor (thousands) 3,220.6 3,285.6 3,309.4 4,324.3 4,299.6 IMPORTANT LOGISTIC PLATFORM WITH NATIONAL COVERAGE % of Increase 2.7% 2.0% 0.7% 30.7% (0.6%) The figures presented in this fiscal years are under international financial reporting standards (IFRS) (1) EBITDA is defined as operating income before depreciation and amortization. REAL ESTATE NETWORK CONDUCTED BY MORE THAN 9,300 COMMERCIAL PREMISES $4,606 4,324.3 $12,401 $153,637 4,208 4,299.6 149,522 MORE THAN 104 THOUSAND COLLABORATORS 11,840 3,726 3,704 109,380 3,309.4 3,285.6 3,220.6 105,028 3,117 $125 MILLON PESOS IN SOCIAL INVESTMENT IN 2017 101,829 7,534 7,461 7,060 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 TOTAL EBITDA NET SALES FLOOR AREA REVENUE INCOME (thousand of m2) PRESENCE MISSION We are Organizacion Soriana, a Mexican retailer Company Satisfy the needs of products and services of the communities founded in Torreon, Coahuila, Mexico in 1968. The company where we are present, promoting in each of us the philosophy capital stock shares have been listed in the Mexican Stock and values necessary for guaranteeing a permanent and valuable Exchange since 1987 under the name SORIANA B. relationship with our clients, collaborators, suppliers, shareholders, community and environment, obtaining in this manner an adequate profitability and assuring our permanence and growth. Under a multi-format strategy, we operate as of year-end closing, 824 food-retail stores and wholesale clubs, plus those belonging to the convenience store chain known as “Super City”. VISION The total sales floor area exceeds 4.2 million square meters distributed throughout different store formats. The sales floor Give service every time to a bigger number of communities as a coverage of the central and northern part of the country reflects leader, by offering the best shopping experience to our customers the highest concentration, representing 42% respectively of the and the best workplace to our collaborators, derived from a total with 675 stores. The Logistics network is composed of 14 constant innovation. PARTICIPATION IN distribution centers that are strategically located in 8 states of NUMBER OF STORES the country. VALUES Soriana Híper 270 In stores, we annually process more than 714 million Soriana Súper 129 transactions, with a sales force of more than 104,000 Soriana Mercado 142 WE ARE CORRECT AND POLITE collaborators. Our headquarter offices are located in Monterrey, 39% Soriana Express 103 Nuevo Leon and Mexico City. ONE TEAM WITH THE SAME GOAL: City Club 35 CUSTOMER SATISFACTION. North 323 Stores Mega 69 ACCOMPLISH RESULTS Comercial Mexicana 40 Bodega Comercial 33 WE ANTICIPATE AND INNOVATE Alprecio 3 WE ARE COMMITTED TO SORIANA We are present in 279 municipalities 43% of the 32 states of the country. Center 352 Stores 18% 824TOTAL STORES South149 Stores 4 SORIANA ANNUAL REPORT 2017 5 DEAR 9.4% SHAREHOLDER Net income growth vs. 2016 2017 was a year of challenges, consolidation and search for Continuing with one of the strategic plans of the Company, to social causes no matter the big adversities that were faced new opportunities that allowed us to learn how to improve. One in the last 3 years we had made important investments in our during the year, being one of the most regrettably events, the of the most important events in the year was, without a doubt, Soriana.com online store. Were we have worked on improving earthquakes registered in the month of September that affected the actions taken in the merging process of Comercial Mexicana shopping experience, increasing product catalog, and adding thousands of people in central and southern Mexico. The social stores to Soriana. We particularly worked on integrating logistics proper IT platforms that will enable the necessary support for investment reached $124.7 million pesos which benefitted of both Companies in order to operate under a single entity. future growth. Also, being the first supermarket chain to offer more than 532 thousand people and supported 424 institutions Even though this was not an easy task as this type of integration the mobile phone services through “Soriana Movile” which throughout the country. 59% of the resources allocated by entails high risks, it was a necessary step towards achieving a operates as a Mobile virtual Network Operator (MVNO) in Soriana Fundacion were destined to actions that support more efficient logistics network with aligned operating processes association with Maxcom. children matters, 22% to the community and 19% to food aid. and upgraded systems that integrate the best practices from Regarding sustainability strategy efforts, it is worth to highlight Comercial Mexicana and Soriana. We also worked on integrating All these actions and the implementation of different the favorable progress made with respect to renewable energy: the best practices and operating processes in stores as part of commercial strategies launched in 2017 allowed us to keep a total of 641 business units -that is 65% from all stores- our project called “La Mejor Tienda de Mexico” by which we will positive same-store sales indicator and to close 2017 with benefitted from the supply of some type of renewable energy. be able to offer a better shopping experience to our customers. a 3.2% growth. Total revenues reached $153.637 billion This represents 40% from the total energy consumed by the pesos which this is a 2.8% increase compared to 2016 and Company in a year. In addition to these efforts and with respect to the progress 824 stores in operation. We continued achieving increments achieved in the year on the established businesses with our at Gross and EBITDA margin levels by 20pb thanks to the As you may see, all these ongoing actions and efforts being partner Falabella, in the month of May we started operations synergies and commercial efficiencies reached for the second carried out, I am sure will usher in a more marked positive of the financial business by setting customer-service and card- consecutive year since the acquisition of Comercial Mexicana.
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