SMU reported its financial results for the first quarter of 2026 on Monday, achieving an EBITDA of $59.393 billion, representing a 9.6% growth compared to the same period last year. The parent company of Unimarc, Alvi, and Super10 in Chile, and Mayorsa and Maxiahorro in Peru, reported to the CMF that its revenues reached $721.592 billion, which represents an increase of 2.1% compared to the same period last year. "We started the year with good news in all our formats. Unimarc increased its revenues by 2.6%, with an increase in sales from existing stores, in addition to strong performance in new openings. Additionally, online sales grew by 19%, driven by increased transactions on the Unimarc.cl and Alvi.cl platforms, along with a significant expansion in omnichannel coverage. Similarly, SMU Peru's revenues increased by 6.6%," said Marcelo Gálvez, General Manager of SMU, in a statement. In a statement, the company said that it managed to maintain the gross margin at the level reached in 2025, after a significant recovery from 2024. This, along with the growth in revenues, allowed the gross profit to increase by 2.7%, reaching $230.813 billion. The company specified that operating expenses increased by only 0.5% in the quarter in nominal terms, decreasing in real terms, despite the significant growth in the number of stores during the last year. Excluding the effect of net openings, SMU said, operating expenses would decrease by 1.2% in nominal terms. This reflects the good results of the efficiency and productivity initiatives that the company has implemented as part of its strategic plan, the company indicated. Decrease in ProfitsThe company reported profits of $420 million, compared to $4.210 billion recorded in the January-March 2025 period. This decline is essentially due to the tax line, which had a negative variation of approximately $5.000 billion, due to the lower inflation in the 2026 period and its impact on the company's deferred taxes, SMU explained. "It is important to note that the result of the first quarter of 2026 includes negative extraordinary effects of CLP 9.000 billion, explained by a restructuring plan with a cost of CLP 12.500 billion, partially offset by a gain on the sale of assets of CLP 3.500 billion. This restructuring will generate savings equivalent to the cost of the plan on an annual basis, in 2026 and in subsequent years," explained Marcelo Gálvez. NEWSLETTERPulso PMMonday to Friday, 12:30 PMThe most relevant news in markets, companies, and business: timely information, context, and content to make better decisions. By subscribing, you accept the Terms and Conditions and Privacy Policies of La Tercera.