SMU held its Annual General Shareholders’ Meeting, during which all items on the agenda were approved. These included the appointment of external auditors and credit rating agencies for 2025, the approval of dividend payments, the financial statements as of December 31, 2024, and the 2024 Integrated Report.

During the meeting, SMU’s Chairwoman Pilar Dañobeitía opened the session by inviting shareholders to reflect on the progress made in recent years and to look forward to the journey ahead, expressing her appreciation for their continued support. “In 2024, we continued implementing our strategy focused on profitable and sustainable growth, investing over USD 100 million, with more than 60% allocated to organic growth,” she said.

As such, SMU expanded its footprint in Chile with the opening of 14 new stores across the Coquimbo, Valparaíso, Metropolitan and Los Lagos regions, and also grew its presence in northern Peru with 6 new stores—further strengthening its geographic coverage.

“Our goal is to contribute to the development of the communities in which we operate, offering value propositions designed to make our customers’ lives easier,” added Pilar Dañobeitía.

In 2024, SMU—whose workforce includes over 23,000 employees, 64% of whom are women—also moved ahead of schedule in implementing the 40-hour workweek, with 281 stores having joined the group to date.

During the year, which was the second of the company’s 2023–2025 strategic plan, SMU reported significant progress across a variety of initiatives, reaffirming its commitment to a business model designed to generate long-term, sustainable economic value. Notably, SMU was included for the first time in the Dow Jones Sustainability Indices (Chile and MILA), achieving the top score in Chile in the S&P Corporate Sustainability Assessment for its industry. SMU also received ISO 50.001 certification for its Energy Management System and advanced toward its goal of sourcing 50% of its electricity from renewable sources by 2027.

Arturo Silva, SMU’s Chief Financial Officer, also presented the Company’s strong financial position, highlighting the successful placement of bonds in 2024 totaling UF 5.5 million. This leaves the company with a comfortable debt maturity profile and a solid cash position.

SMU’s Chief Executive Officer, Marcelo Gálvez, shared details of the newly approved five-year investment plan, totaling approximately USD 600 million. The plan includes new store openings, remodels, and investments in operating efficiency and business continuity. “This investment plan reaffirms our focus on organic growth. With 115 new stores—including 80 in Chile—we’ll be closer to our customers than ever, reaching 179 municipalities and over 90% of the population,” he said.

Between 15% and 20% of the investments will be allocated to productivity and efficiency improvements, including technology upgrades across stores, logistics, and back-office operations. Another 20–25% will go toward business continuity, including updates to equipment, stores, and distribution centers. The plan will be financed cash generated by the company’s operations, without the need to increase debt.

“In addition, we plan to remodel or convert over 200 stores to better meet the changing needs and preferences of our customers, through our multi-format strategy,” Pilar Dañobeitía added.

As SMU enters the final year of its 2023–2025 strategic plan, it expects to invest more than USD 120 million in 2025, including 16 store openings in Chile (8 Unimarc, 4 Alvi, 4 Super10) and 8 Maxiahorro stores in Peru—bringing the total to 58 new stores by the end of the period.