Chilean supermarket operator SMU S.A. — parent company of Unimarc, Alvi, and Super10 — released its financial results for the third quarter of 2025, highlighting sustained progress in its strategy focused on profitability. As in the previous quarter, SMU continued optimizing its promotional strategy in the retail segment and eliminating low-margin bulk sales in the wholesale segment.

“We achieved a significant expansion in our gross margin for the fourth consecutive quarter—up 270 basis points versus the third quarter of 2024—and a 2.3% year-over-year increase in gross profit, despite lower revenues,” said Marcelo Gálvez, Chief Executive Officer of SMU.

During the first nine months of 2025, SMU’s ordinary operating revenues totaled CLP 2,074,662 million, representing a 2.9% decrease compared to the same period in 2024. Third-quarter revenues reached CLP 689,677 million, down 6.1% year-over-year. However, gross profit for the period grew 2.7% to CLP 649,498 million, and in the third quarter alone reached CLP 222,504 million, a 2.3% increase versus 3Q24.

Beyond the company’s improved commercial profitability, Gálvez emphasized SMU’s ongoing focus on efficiency and productivity, noting that: “Operating expenses grew below inflation during the quarter, effectively declining in real terms despite higher labor and electricity costs. This demonstrates the effectiveness of our efficiency and productivity initiatives across all our operations.”

SMU reported an EBITDA of CLP 50,649 million for the quarter, just 1.6% lower year-over-year, while achieving an expansion of 30 basis points in the EBITDA margin.

“We recorded profits of approximately CLP 52 billion in the first nine months of the year, up 56% versus 2024, and around CLP 33 billion in the quarter,” Gálvez added. “These results include gains from sale-and-leaseback operations carried out during the period. The assets involved continue to operate under long-term lease contracts, consistent with our standard operating model".

SMU also made steady progress on its organic growth plan, opening eight new stores during the quarter: six in Chile (five Unimarc and one Super10) and two Maxiahorro stores in Peru.

“Additionally, we opened a new Alvi store last week in the municipality of Quinta Normal,” said Gálvez. “Between 2023 and 2025, we have inaugurated 44 new stores, and on average, they have performed well—surpassing sales targets and achieving sales per square meter and per equivalent workday above format averages in roughly half of the stores, even though most have been operating for less than three years.".

Looking ahead, SMU plans to continue expanding its footprint while strengthening its multiformat strategy through the conversion of Mayorista10 stores into Super10 and Alvi formats, enhancing the scale and competitiveness of both banners.