Companhia Brasileira De Distribuicao · BMFBOVESPA:PCAR3
Companhia Brasileira De Distribuicao — Brazilian Distribution Co Companhia Brasileira DE Distr CBD — Q1 2020 Earnings Presentation
14 slides from Companhia Brasileira De Distribuicao's earnings presentation, May 14, 2020
Slide 1: CEO message on first quarter 2020
(1) GPA Food Business BrazilResults do not include the result of other complementary businesses. (2) Operating income before interest, taxes, depreciation and amortization. (3) Adjusted for Other Operating Income and Expenses. PS: Tax credits were not materially different from previous quarters. “Th
Slide 2: Assaí results: gross sales revenue, profit and EBITDA
Gross sales revenue grew by over R$1.6 billion, totaling R$8.5 billion in the quarter. The strong growth of 23.8% was driven by the successful expansion of 40 stores in the last 24 months, which already account for 25% of total sales of the banner. The banner gained over 2.5 million new clients and
Slide 3: Multivarejo results: gross revenue, profit and EBITDA
Gross revenue totaled R$7.3 billion in 1Q20 (+6.1% vs. 1Q19), driven by the maturation of renovated and converted stores, as well as the implementation of successful commercial strategies and higher purchases by clients during the second half of March due to the pandemic scenario. Food e-commerce al
Slide 4: Grupo Éxito results: gross sales and profit
Gross sales totaled R$5.7 billion in 1Q20, with significant growth of 14.5% in total sales and same-store sales grew 12.1%, confirming the positive trend observed in recent quarters, with growth across all formats and regions . The quarterly highlights were the strong performance by Colombia, driven
Slide 5: Net financial result of GPA Consolidated
Net financial result of GPA Consolidated was R$426 million, equivalent to 2.2% of net sales. Due to the adoption of IFRS 16, the financial result now includes Interest on lease liability , which totaled R$212 million in the quarter. Considering the net financial result without the effect of Interest
Slide 6: Consolidated net loss of controlling shareholders
Consolidated GPA ended 1Q20 with a net loss of controlling shareholders of R$ 130 million, mainly explained by a greater depreciation with the Grupo Éxito’s consolidation and a higher cost of debt (impact of R$ 92 million on the financial result with the restructuring and optimization of Latin Ameri
Slide 7: Net debt and cash position
(1) Adjusted EBITDA before IFRS 16 in the last 12 months. Net debt adjusted by the balance of unsold receivables totaled R$ 10.8 billion for GPA Consolidated, equivalent to 2.5 times net debt/adjusted EBITDA (1) , mainly reflecting the funding operation for the acquisition of Grupo Éxito. The higher
Slide 8: Investments and store portfolio changes by banner
In 1Q20, investments in Brazil totaled R$ 591.3 million, net of asset sales, which went to the expansion of an Assaí store, a Minuto Pão de Açúcar store and a gas station. Investments in Grupo Éxito totaled R$ 81.7 million, with the opening of two Surtimayorista stores (cash and carry model that alr
Slide 9: Expansion, conversion and renovation plan
The Company reaffirms its plan for expansion, conversion and renovation of stores. However, in light of the new coronavirus (Covid-19) pandemic, works could be postponed.
Slide 10: Balance Sheet
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Slide 11: Income statement
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Slide 12: Cash flow statement
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Slide 13: Breakdown of Sales (% of Net Sales) - Brazil
XI. BREAKDOWN OF SALES (% of Net Sales) - BRAZIL
Slide 14: Glossary and definitions
Adjusted EBITDA: Measure of profitability calculated by excluding Other Operating Income and Expenses from EBITDA. Management uses this measure in its analyses as it believes it eliminates nonrecurring expenses and revenues and other nonrecurring items that could compromise comparability and analysi
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