El Palacio de Hierro 2021 Q4

What: The company achieved sales of 14,120 million pesos in the fourth quarter of 2021, representing an increase of 37.2% compared to the same period of 2020. 

Why it is important: When comparing to 2020, profit increased by 93.6% before financial expenses, taxes, depreciation and amortization, and represents 15.6% of sales.

The commercial division recorded an increase of 36.4%. The credit and real estate division registered an increase of 11.7% and 194.8%, respectively. The triple-digit acceleration of the real estate division is mainly due to the reopening of businesses in the shopping centers where the company participates.