Sendas Distribuidora Sa · BMFBOVESPA:ASAI3
Sendas Distribuidora Sa — Q2 2024 Earnings Presentation
16 slides from Sendas Distribuidora Sa's earnings presentation, Aug 9, 2024
Slide 1: Earnings Results 2nd Quarter 2024
EARNINGS RESULTS 2ND QUARTER 2024 August 9TH, 2024
Slide 2: Vídeo 50 Anos
VÍDEO 50 ANOS
Slide 3: Revenue of R$ 19.5 billion with gross margin increase
REVENUE OF R$ 19.5 BILLION WITH GROSS MARGIN INCREASE AND EFFICIENT COMMERCIAL DYNAMICS EBITDA margin growth driven by stores maturation and expenses control SALES: Maturation of new stores and improve in same-store sales EXPANSION: +11% total sales 77M Tickets (+9.3%) Sales +34% +2.9% 24 new stores
Slide 4: Conversions in maturation, with improvement of sales and EBITDA margin
CONVERSIONS IN MATURATION, WITH IMPROVEMENT OF SALES AND EBITDA MARGIN In 2Q24, conversions show an average monthly sales 25% higher than stores opened until 2022 Average Monthly Revenue (47 Conversions opened in 2022 – LTM) +5% R$ 25.1M R$ 26.0M R$ 26.5M 2Q24 2T24 R$26,5M R$ 26.5M +25% +25% vs. vs.
Slide 5: Gross margin shows the store model evolution
GROSS MARGIN SHOWS THE STORE MODEL EVOLUTION Efficient commercial dynamics, assortment adjustments and services implementation Gross Profit Pre-IFRS16 (R$ Billion) ~3x 2.9 2.6 2.1 1.7 1.3 1.1 2Q19 2Q20 2Q21 2Q22 2Q23 2Q24 Gross (2) Margin (1) 16.7% 16.2% 16.8% 16.1% 16.2% 16.5% Store Model Efficient
Slide 6: Efficiency control of expenses and operational leverage
EFFICIENCY CONTROL OF EXPENSES AND OPERATIONAL LEVERAGE Greater expenses dilution with the maturation of stores sales and operations Selling, General and Administrative Expenses (% Net Revenue) Pre-IFRS 16 11.2% 11.2% Higher rental level due to 10.4% 10.5% 10.7% the conversions project 10.0% 9.7% 9.
Slide 7: Profitability gains driven by stores maturation and business model attractiveness
PROFITABILITY GAINS DRIVEN BY STORES MATURATION AND BUSINESS MODEL ATTRACTIVENESS Pre-IFRS16 margin returns to the level prior to the conversion project EBITDA (R$ Million; Pre-IFRS 16) +18% +27% 965 1,862 815 1,467 Post IFRS-16: Post IFRS-16: R$ 1.3bi (+16%) R$ 2.5bi (+21%) 7.2% (+0.2p.p) 7.1% (+0.
Slide 8: EBT increases supported by stores maturation and expenses control
EBT INCREASES SUPPORTED BY STORES MATURATION AND EXPENSES CONTROL Financial result stable as % of sales and sequential reduction Financial Result Income (R$ Million; Pre-IFRS 16) (R$ Million; Pre-IFRS 16) +66% Net Income Post IFRS-16: -8.2% 226 2Q24: R$ 123M -510 1H24: R$183M -468 61 -420 165 136 R$
Slide 9: Operating cash generation of R$7.6 billion supported 88% of investments
OPERATING CASH GENERATION OF R$7.6 BILLION SUPPORTED 88% OF INVESTMENTS IN THE LAST 2 YEARS Period marked by the acquisition and conversion of hypermarkets R$ 7.6 bi R$ -0.9 bi R$ -2.9 bi R$ -3.4 bi R$ -4.8 bi Operational Investments in Payments of Investments in Maintenance Payments of Cash Generat
Slide 10: Focus on leverage reduction: increase of 28% in the EBITDA (LTM)
FOCUS ON LEVERAGE REDUCTION: INCREASE OF 28% IN THE EBITDA (LTM) Maturation of new stores and efficiency in expenses control despite the business model evolution Leverage +0,60X 4.69x +0,10X Leverage ratio below 4.44x 4.25x 3.2x in 2024 3.80x 3.75x 3.65x R$ 13.7bi R$ 14.1bi R$ 13.1bi R$ 13.8bi R$ 14
Slide 11: Available cash of ~R$ 7bi, with higher average cash and receivables
AVAILABLE CASH OF ~R$ 7BI, WITH HIGHER AVERAGE CASH AND RECEIVABLES NOT DISCOUNTED Receivables not discounted can be converted into cash in D+1 Availabilities +34% +33% R$ 6.9bi R$ 6.4bi 985 1,772 R$ 5.1bi R$ 5.1bi R$ 5.2bi 535 677 625 Cash and Cash Equivalents Non-Discounted Receivables 5,459 5,104
Slide 12: Sustainability as a strategic pillar of the company
SUSTAINABILITY AS A STRATEGIC PILLAR OF THE COMPANY Driving prosperity for all 2Q24 Highlights Efficient operations: Recycling 42% of waste, highlighting the Destino Certo Program People and Community Development: • Leadership: 42.9% Black people and 25.1% women • Assaí is among the Ibovespa compani
Slide 13: The largest commercial campaign ever conducted in the company's history
THE LARGEST COMMERCIAL CAMPAIGN EVER CONDUCTED IN THE COMPANY'S HISTORY, WITH A RECORD NUMBER OF AWARDS • 4 MONTHS OF DURATION from August to November • PARTICIPATION OF INDUSTRY + 50 suppliers • STRONG PUBLICITY AND BRAND REINFORCEMENT Television, digital medias and radio • EASIER REGISTRATION Expa
Slide 14: Vídeo Aniversário 50 Anos
VÍDEO ANIVERSÁRIO 50 ANOS
Slide 15: Chat Q & A Interpretation
Para fazer perguntas, clique no icone Q&A na parte inferior da tela. Escreva seu NOME, EMPRESA e IDIOMA da perguntaa ser feita. Ao ser anunciado, uma solicitacdo para ativar seu microfone aparecera na tela e, entdo, vocé deve ativar o seu microfone para fazer perguntas. Orientamos que as perguntas s
Slide 16: Thank you
ATACADISTA Para todos, de Sol a Sol. THANK YOU Investor Relations team | ri.assai@assai.com.br / ri.assai.com.br