InRetail, Peru's leading retail group, presented its report for the third quarter of 2021. The Company increased its revenues from ordinary activities by 486% from S/26,106 to S/126,785 thousand nuevos soles compared to 3Q2020.
InRetail Consumer acquired 100 percent of Makro Supermayorista's capital stock in 2020 for US$359,619,000, equivalent to S/1,300,743,000. Established in 2008, Makro is the leading wholesale chain in Peru that supplies mainly professional clients (hotels, restaurants, catering) with consumer products.
InRetail Peru's accumulated financial income amounted to S/64.3 million, compared to S/0.7 million in 2020, explained by interest received from loans to related parties. On the other hand, financial expenses amounted to S/99.8 million, an increase of 308.4% compared to S/24.4 million in 2020, mainly explained by higher interest on bonds issued and interest on the bridge loan used for the acquisition of Makro Supermayorista generated during the first quarter of the year.
InRetail Peru's gross profit in the third period of 2021 was S/126.8 million, representing an increase of 486% compared to the same quarter of 2020.
The accumulated net result had an increase of approximately 361% with an equivalent value of S/381.8 million, above the profit of S/105.9 million recorded in the same period of 2020. Likewise, the net profit for the third quarter of 2021 had a value of $115.2 million, representing an increase of 773% compared to the same period of the previous year.
The total assets of InRetail Peru were S/7,156 million, S/1,781 million higher than the amount recorded as of December 31, 2020. This variation is explained by the increase in long-term accounts receivable from related entities, mainly generated by the issuance of the bond at the InRetail Consumer level, which was transferred to the subsidiaries Supermercados Peruanos and InRetail Pharma through loans between related parties.
The total liabilities of InRetail Perú Individual, as of September 30, 2021, amounted to S/3,716 million, higher than the amount recorded as of December 31, 2020 (S/1,760 million) due to the bond issued by InRetail Consumer, whose funds were used to repay the bridge loan used for the purchase of Makro Supermayorista and refinance corporate debt of InRetail Pharma.
