Lala had A Financial Impact of more than A Thousand Million Pesos at the End of 2020
During December of last year Grupo Lala announced its decision to immediately close its operations in Costa Rica, this meant an impact of 433 million pesos for the company. “This difficult decision was made as a result of an exhaustive analysis that considered the potential performance, geographic footprint and strategic alignment of this operation, relative to other investments of the company,” said the company. To this amount was added an impact of 830 million pesos due to a deterioration in the Nicaraguan market, which as a result of the closure in Costa Rica, there was an adjustment to the value of goodwill and assets in Nicaragua, according to its financial report of the fourth quarter of 2020. Throughout last year Grupo Lala reported net sales of 80 thousand 831 million pesos, which meant a growth of 6.7 percent, in contrast to the results of 2019.
“Since my return to Lala We have experienced a year of unprecedented circumstances – a year that has highlighted the resilience, flexibility and adaptability of our team and our company. The health and well-being of our employees and consumers has remained our priority, allowing us to work on our strategy to ensure that our company prevails through the pandemic and emerges optimally positioned for the future ”, said Arquímedes Celis, CEO of the company .
He stated that there was a recovery of his business in the Mexican market that impacted on a more stable, efficient and viable operation. Lala’s operating flow (Ebitda) last year was 8,100 million pesos, which represented an increase of 2.9 percent, in contrast to the 2019 results. that we take forceful actions to strengthen our profitability in Mexico, we make difficult decisions to ensure that our operation in Central America aligns with our expectations and potential value, based on our strategic priorities of focusing on key markets, having financial discipline, and achieving profitable growth and sustainable ”, added the manager.
Lala had A Financial Impact of more than A Thousand Million Pesos at the End of 2020 - /10