Sendas Distribuidora Sa · BMFBOVESPA:ASAI3
Sendas Distribuidora Sa — Q3 2023 Earnings Presentation
12 slides from Sendas Distribuidora Sa's earnings presentation, Oct 31, 2023
Slide 1: Assaí: highest penetration in Brazilian households
Assaí: highest penetration in Brazilian households 1 in 4 households buy at Assaí NielsenIQ Homescan Survey 2023 EARNINGS RELEASE 3rd QUARTER 2023 1 31st, 2023 October
Slide 2: Highest EBITDA margin level of the year: 7.1% post-IFRS16; 5.4% pre-IFRS16
HIGHEST EBITDA MARGIN LEVEL OF THE YEAR: 7.1% POST-IFRS16; 5.4% PRE-IFRS16 Accelerated maturation of converted stores and differentiated value proposition EXPANSION: GROSS SALES: Sales increase with significant market share gains • 52 stores in 12 months: • +29% added to sales area in 3Q23 73 millio
Slide 3: Operating cash flow of R$ 9.4 bn sustained 91% of investments since 2021
OPERATING CASH FLOW OF R$ 9.4 BN SUSTAINED 91% OF INVESTMENTS SINCE 2021 Gross sales reached R$ 70bn in the last 12 months, +R$ 31 bn and 103 new stores Dec/20 Sep/23 Gross Sales (1) : Gross Sales (1) : + R$31 billion gross sales and 103 new stores (2) R$ 39 bn R$ 70 bn (184 stores) (276 stores) Inv
Slide 4: Conversions' performance reflects differentiated value proposition
CONVERSIONS’ PERFORMANCE REFLECTS DIFFERENTIATED VALUE PROPOSITION Operating for approx. 10 months on average, conversions reached sales uplift >2.7x and EBITDA margin(1) in line with Company’s average Average Monthly Sales per store Sales uplift higher than 2.7x +16% (3.7x considering only the food
Slide 5: Pre-IFRS16 EBITDA margin stable attests to the quality of expansion
PRE-IFRS16 EBITDA MARGIN STABLE ATTESTS TO THE QUALITY OF EXPANSION Rapid maturation of conversions contributes to Pre-IFRS16 EBITDA margin advance of +30bps vs. 2Q23 Adjusted EBITDA (R$ Million) +19.9% 1,212 +21.9% 1,011 911 747 3Q22 3Q23 3Q22 3Q23 EBITDA Mg. (1) 5.4% 5.4% 7.3% 7.1% Organic: Mossor
Slide 6: Operating cash generation of R$ 4.9bn, up 54%, supporting investments
OPERATING CASH GENERATION OF R$ 4.9BN, UP +54%, SUPPORTING INVESTMENTS Financial Result impacted by high interest rates Financial Result Cash Generation (R$ Million) (LTM) Net Debt (2) ND (2)/EBITDA (3) ND + Receivables + -737 Acquisition Payables/EBITDA (3) -231 30.09.2022 R$ 7.3 bn -2.62x -4.67x -
Slide 7: Leverage reflects the investments in expansion
LEVERAGE REFLECTS THE INVESTMENTS IN EXPANSION Index calculation considering net debt + discounted receivables + acquisition payables Receivables discount is an operation typical to the retail sector and Brazilian market 3Q23: -R$ 8.6 bn -R$ 0.8 bn -R$ 14.1 bn -R$ 9.4 bn -R$ 2.6 bn -R$ 2.1 bn Net De
Slide 8: Leverage reflects the largest expansion project executed by the company
LEVERAGE REFLECTS THE LARGEST EXPANSION PROJECT EXECUTED BY THE COMPANY Net Debt + receivables + acquisition payables / EBITDA of 4.44x, -0.2x vs 3Q22 4.54x 4.67x 4.69x 4.37x 4.44x 4.25x 2.66x 2.62x 2.72x 2.71x 2.54x 2.18x 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 Net Debt including receivable discounted and ba
Slide 9: Net income evolution underscores resilience of Assaí's business model
NET INCOME EVOLUTION UNDERSCORES RESILIENCE OF ASSAÍ’S BUSINESS MODEL High interest rates negatively impact the Company’s net income Net Income +157% POSITIVE IMPACTS +19% • Resilience of the model R$ 185M • R$ 41 million related to the write-off R$ 156M of the renegotiated rental agreements (non-ca
Slide 10: Commitment to diversity and equality for all
COMMITMENT TO DIVERSITY AND EQUALITY FOR ALL Advances in the ESG strategy and continuity in building an inclusive society Foster a more responsible and inclusive society based on five strategic pillars 3Q23 HIGHLIGHTS TACKLING CLIMATE CHANGE • Inclusion in B3’s IDiversa index Assaí is the only food
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 12