The general manager of Gastón Botazzini, reported that the company expects to raise between US$ 800 million and US$ 1,000 million in a period of between 12 and 15 months, an objective that has been set through the monetization of non-essential assets, according to information provided by La Third of Chile.

“Looking forward, the structural efficiencies achieved and the improvements we see in our businesses allow us to optimistically see the strengthening of our level of profitability in the coming quarters, which would be accentuated with a normalization of consumption”he pointed.

A few days ago, Falabella published its financial results for the third quarter, which were not very auspicious, recording a 10% drop in income, although losses were reduced and its savings increased.

La Tercera points out that three months ago, Falabella had announced a plan to sell real estate for US$400 million. Now it seems to have doubled that objective with what Botazzini commented.

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Falabella’s revenues decreased by 10%, going from US$3,320 million in the third quarter of 2022 to US$3,001 million in the same period of 2023.

The newspaper points out that in the accumulated in the first nine months of the year, the drop in income is 9% reaching US$9,070 million versus US$10,028 million last year.

“According to Falabella, the decrease in the quarter was due to a drop in the home improvement businesses in Chile (-19%) and department stores (-15%) and the retail businesses in Peru (-16%), offset partly by Mallplaza (17%) and Banco Falabella Perú (15%)”, they point

Regarding losses, these decreased to US$5 million in the third quarter, versus almost US$19 million in the same period of 2022. So far this year, losses total US$10 million, while in the same period of the Last year it obtained profits of US$180 million.

“The company recorded three quarters with losses, however, in the last one it managed to return to the blue numbers thanks to an accounting change, with a new revaluation model for its investment properties that it communicated to the CMF just a few minutes before publishing the results. second quarter results. A change that its competition had consolidated before”indicates the medium.



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