Sendas Distribuidora Sa · BMFBOVESPA:ASAI3
Sendas Distribuidora Sa — Q1 2024 Earnings Presentation
12 slides from Sendas Distribuidora Sa's earnings presentation, Apr 25, 2024
Slide 1: Earnings Results 1st Quarter 2024
EARNINGS RESULTS 1ST QUARTER 2024 APRIL 25TH , 2024
Slide 2: Revenue: R$18.8 billion, with increase in tickets and accelerated same-store sales
REVENUE: R$18.8 BILLION, WITH INCREASE IN TICKETS AND ACCELERATED ‘SAME-STORE’ SALES Operational leverage results in +90bps of expansion in EBITDA Mg. Pre-IFRS 16 +4 NEW STORES IN 1Q24 SALES growth driven by the maturation of 28 stores opened in the last 12 months expansion and performance of stores
Slide 3: EBITDA margin of 5.2%, in line with company's average
EBITDA MARGIN OF 5.2%, IN LINE WITH COMPANY’S AVERAGE Average sales per store increase +18% Average Monthly Sales (47 Conversions Opened in 2022) +18% 26.0 22.0 Sales +23% vs. Stores opened until 2022 1Q23 1Q24 EBITDA Mg. Pre-IFRS 16 (1) 2.6% 5.2% Conversion: Santos (SP) (1) % Net Sales 3
Slide 4: Gross margin expansion resulting from the evolution of the store model
GROSS MARGIN EXPANSION RESULTING FROM THE EVOLUTION OF THE STORE MODEL Effective commercial strategy, fast adjustment of assortments and services Gross Profit Pre-IFRS16 +188.5% (R$ Billion) 2.8 2.4 1.8 1.5 1.2 1.0 1Q19 1Q20 1Q21 1Q22 1Q23 1Q24 Gross Margin (1) 15.3% 15.6% 16.0% 16.0% 16.1% 16.3% Co
Slide 5: Evolution of the conversions project contributes to dilute expenses
EVOLUTION OF THE CONVERSIONS PROJECT CONTRIBUTES TO DILUTE EXPENSES Gradual return of the SG&A level prior to the conversion project Selling, General and Administrative Expenses (% Net Sales) 11.7% 10.9% 11.2% 10.4% Pre-IFRS 16 10.2% 10.0% 10.0% Post-IFRS 16 9.5% 9.5% 9.6% 9.4% 9.2% 1Q19 1Q20 1Q21 1
Slide 6: Significant profitability improvement thanks to operational leverage
SIGNIFICANT PROFITABILITY IMPROVEMENT THANKS TO OPERATIONAL LEVERAGE Margin Pre-IFRS 16 reaches 5.2% and returns to the level prior to the conversion project EBITDA Pre-IFRS 16 (R$ Million) +38% 897 652 Post-IFRS 16: R$ 1.2bi Post-IFRS 16: Mg: 7.1% R$ 951M Mg: 6.3% 1Q23 1Q24 EBITDA Mg. Pre-IFRS 16 (
Slide 7: Progress in earnings before taxes driven by operational leverage
PROGRESS IN EARNINGS BEFORE TAXES DRIVEN BY OPERATIONAL LEVERAGE Earnings Before Taxes increase of R$ 122 million vs. 1Q23 (Pre-IFRS 16 | R$ Million) Financial Result Earnings Before Taxes Net Income +R$ 122M +19% -510 121 93 -428 78 Post-IFRS 16: Post-IFRS 16: -2.8% of Net -3.0% of Net R$ 72M R$ 60
Slide 8: Reduction in leverage driven by greater operating cash generation
REDUCTION IN LEVERAGE DRIVEN BY GREATER OPERATING CASH GENERATION Operating cash generation supported investments in expansion and the cost of debt Operating Cash Generation Leverage (12 months) 0.94x 0.05x Net Debt(1) (Mar/23) R$ 13.7 bn 4,69x 4,44x 4,25x Operating Cash Generation R$ 4.9 bn 3,80x 3
Slide 9: Improvement on all sustainability fronts, fostering prosperity for all
IMPROVEMENT ON ALL SUSTAINABILITY FRONTS, FOSTERING PROSPERITY FOR ALL EFFICIENT OPERATIONS • Reduction of 9.5% in scope 1(1) vs 1Q23 • Reuse of 43% of waste in 1Q24 (+2% vs 1Q23), notably through the Destino Certo program • 3rd Log Assaí Awards held, with the launch of the Sustainability category P
Slide 10: Perspectives: deleverage and increased cash generation
PERSPECTIVES: DELEVERAGE AND INCREASED CASH GENERATION LEVERAGE REDUCTION UPDATED < 3.2x by the end of 2024 (vs. previous guidance of < 3.5x) CONCLUSION OF THE PAYMENT FOR THE ACQUISITION OF HYPERMARKETS R$ 894 million was paid in January/24 GREATER CASH GENERATION Progressive maturation of expansio
Slide 11: Q&A
Q&A Para fazer perguntas, clique no ícone Q&A na parte inferior da tela. Escreva seu NOME, EMPRESA e IDIOMA da pergunta a ser feita. Ao ser anunciado, uma solicitação para ativar seu microfone aparecerá na tela e, então, você deve ativar o seu microfone para fazer perguntas. Orientamos que as pergun
Slide 12: Thank you
THANK YOU Investor Relations team ri.assai@assai.com.br / ri.assai.com.br