Sendas Distribuidora Sa · BMFBOVESPA:ASAI3
Sendas Distribuidora Sa — Q3 2024 Earnings Presentation
15 slides from Sendas Distribuidora Sa's earnings presentation, Nov 8, 2024
Slide 1: 3rd Quarter 2024
3rd QUARTER 2024 November 8TH, 2024
Slide 2: Consistent Results: Sales growth, profitability improvement and start of debt reduction cycle
CONSISTENT RESULTS: Sales growth, profitability improvement and start of the debt reduction cycle 4 new stores in 3Q24 and 21 in LTM EXPANSION: +8% in sales area vs. 3Q23 ~6 stores in 4Q24 About 15 stores for 2024 Revenue and ‘same stores’ sales Revenue Total Tickets Same-Store Sales R$ 20.2bi 77.5M
Slide 3: Evolution in maturation curve of converted stores
EVOLUTION IN MATURATION CURVE: Revenues of stores converted in 2022 reached R$ 27.3 million in 3Q24, 25% higher than stores opened until 2022 Average Monthly Revenue 47 Conversions Opened in 2022 +6% R$ 25.8M R$ 26.5M R$ 27.3M 1Q24 2Q24 3Q24 EBITDA. Mg Pre-IFRS 16 (1) 5.2% 5.1% 5.4% Conversion: Pont
Slide 4: Store model evolution results in gross margin gains
STORE MODEL EVOLUTION RESULTS IN GROSS MARGIN GAINS: maturation of new stores and continuous improvements in the shopping experience Gross Profit Pre-IFRS 16 (R$ Billion) CAGR: 21.5% 2.8 3.0 2.2 1.5 1.8 1.1 3Q19 3Q20 3Q21(2) 3Q22 3Q23 3Q24 Gross Mg (1) 16.6% 16.6% 16.7% 16.1% 16.2% 16.4% # new store
Slide 5: Evolution of the model while maintaining low costs and increasing profitability
Evolution of the model while maintaining low costs and increasing profitability NEW MODEL 12.2% 11.9% 10.5% 10.5% 10.4% 11.1% 11.1% 11.0% 11.0% OLD MODEL 10.2% 9.5% 9.6% 9.7% 9.7% 9.5% 9.3% 9.2% 9.4% 9.3% 9.3% Until Sep/24 2011 2013 2015 2017 2019 2021(2) 2022(2) 2023 LTM 3Q24 OPERATIONAL PERSONALIZ
Slide 6: Increased profitability: EBITDA
INCREASED PROFITABILITY: Effective commercial strategy and greater availability of services EBITDA (R$ Million; Pre-IFRS 16) +12% +21% 1.021 2.883 911 2.378 3Q23 3Q24 9M23 9M24 Pre-IFRS 16 Mg (1) 5.4% 5.5% 4.9% 5.4% Organic: Manaus - Bola de Suframa (AM) – 09/04/2024 Post-IFRS 16 Mg (1) 7.1% 7.3% 6.
Slide 7: Financial Result, Earnings Before Taxes, Net Income
Improvement in financial results and maturation of new stores contribute to an 83% growth in EBIT Financial Result Earnings Before Taxes Net Income (R$ Million; Pre-IFRS 16) (R$ Million; Pre-IFRS 16) (R$ Million; Pre-IFRS 16) -3% +83% +10% 506 490 260 198 180 142 3Q23 3Q24 3Q23 3Q24 3Q23 3Q24 Financ
Slide 8: Operating cash generation supported 90% of investments in last 2 years
OPERATING CASH GENERATION SUPPORTED 90% OF INVESTMENTS IN THE LAST 2 YEARS: 50 hypermarket conversions and 23 organic stores Sep/22 Sep/24 Gross Sales (1) : Gross Sales (1) : R$ 55 bi +R$ 24 billion of sales (+43%) and 73 new stores (2) R$ 79 bi (233 stores) (297 stores) R$ 7.7 bi Investments: R$ 8.
Slide 9: Start of net debt reduction cycle and de-leveraging
START OF NET DEBT REDUCTION CYCLE AND DE-LEVERAGING: Operational cash generation and efficient working capital management -0.93x -0.13x New leverage 4.44x projection for 2025 3.80x 3.75x 3.65x 3.52x < 3.20x ~2.60x R$ 14.1 bi R$ 13.1 bi R$ 13.8 bi R$ 14.0 bi R$ 13.9 bi 3Q23 4Q23 1Q24 2Q24 3Q24 2024E
Slide 10: Cash Availability
CASH AVAILABILITY OF R$0 BILLION: Increase in average cash applied and balance of non-discounted receivables Cash Availability (R$ Million) +16% R$ 6.9 bi R$ 6.4 bi 1,772 R$ 5.9 bi 985 R$ 5.1bi R$ 5.2 bi 677 625 1,855 2,742 1,630 2,583 2,633 1,548 R$ 5.5 bi R$ 5.1 bi R$ 4.4 bi R$ 4.5 bi R$ 4.0 bi 3,
Slide 11: Improved debt profile: Maturity Schedule
IMPROVED DEBT PROFILE: Success in recent fundraising results in extended terms and reduced cost of debt Maturity Schedule Debt Profile (R$ Billions – Principal + Interest) Extension of Terms + Reduction of Cost Position in CDI+1.49% Position in Period 11/oct/24 ∆ R$ 31/mar/24 (Pro-Forma) CDI+1.40% 2
Slide 12: Sustainability: Driving prosperity for all, across three areas of focus
SUSTAINABILITY: Driving prosperity for all, across three areas of focus Our people: 67.7% of Black individuals in Transparent and audited carbon the total workforce emissions Publication of the Animal Welfare Policy Through the Assaí Institute: Access to More than 3 million meals donated the video o
Slide 13: Update of projections focused on leverage reduction
UPDATE OF PROJECTIONS FOCUSED ON LEVERAGE REDUCTION START OF NET DEBT REDUCTION CYCLE R$ 13.9 in 3Q24 vs. R$ 14.1 in 3Q23 and R$ 13,9 in 3Q24 vs. R$ 14.0 in 2Q24 LEVERAGE REDUCTION < 3.2x by the end of 2024 (vs. previous guidance of < 3.5x) NEW GUIDANCE 2025 Around 2.6x by the end of 2025 GREATER CA
Slide 14: Chat Q&A Interpretation
To ask questions, please click on the Q&A icon on the bottom of the screen Write your NAME, COMPANY and LANGUAGE of the question. If announced, a request to activate your microphone will show up on your screen, then, you should enable your audio to ask your question. & We kindly ask you to make all
Slide 15: Thank You
THANK YOU Investor Relations team | ri.assai@assai.com.br / ri.assai.com.br