Companhia Brasileira De Distribuicao · BMFBOVESPA:PCAR3
Companhia Brasileira De Distribuicao — Brazilian Distribution Co Companhia Brasileira DE Distr CBD — Q2 2020 Earnings Presentation
18 slides from Companhia Brasileira De Distribuicao's earnings presentation, Jul 30, 2020
Slide 1: Sales performance 2Q20
(1) Other: Includes the operations with most recent initiatives, such as James Delivery, Cheftime and Stix Fidelidade. (2) Pro forma variation includes the results of Grupo Éxito in 2Q19 as if it were part of the group in the past and is presented for comparison purposes only. (3) To reflect the cal
Slide 2: Consolidated highlights and CEO comment
(1) GPA Brazil results does not include results of “other businesses” (Stix, James and Cheftime); (2) Operating income before interest, tax, depreciation and amortization; (3) Adjusted for Other Operating Income and Expenses; Note: Tax credits were not materially different from previous quarters. “T
Slide 3: Multivarejo: 2Q20
(1) Operating income before interest, tax, depreciation and amortization. (2) Adjusted for Other Operating Income and Expenses. Multivarejo: 2Q20
Slide 4: Multivarejo same-store sales
(1) Includes sales by Delivery and rental revenue from commercial centers. (1) To reflect the calendar effect, 20 bps was reduced in Multivarejo in 2Q19. Significant growth in ‘same-store’ sales excluding gas stations and drugstores (+20.3%), with all retail operations presenting a strong performanc
Slide 5: Multivarejo digital ecosystem
(1) Multivarejo does not include the result of other complementary businesses. (2) Earnings before interest, tax, depreciation and amortization. (3) Adjusted for Other Operating Income and Expenses. Digital Ecosystem Pioneer in e-commerce and loyalty programs, Multivarejo has consistently structured
Slide 6: Grupo Éxito results
(1) To reflect the calendar effect, the following reductions were made in 2Q20: 0 bps in Grupo Éxito, with 0 bps in Colombia, 30 bps in Uruguay and -10 bps in Argentina. (2) Includes the formats Surtimayorista, Malls, Aliados and Other Businesses. (3) Same store presented a growth with a constant cu
Slide 7: Grupo Éxito EBITDA
(1) Earnings before interest, tax, depreciation and amortization. (2) Adjusted for Other Operating Income and Expenses. (3) Pro forma, for comparison purposes only.
Slide 8: Net financial result of GPA Consolidated
The net financial result of GPA Consolidated totaled and expense of R$ 473 million, representing 2.3% of net sales, stable when compared to same period last year. Due to the adoption of IFRS 16, the financial result now includes Interest on lease liability , which came to an expense of R$ 250 millio
Slide 9: Consolidated net income
Consolidated GPA ended 2Q20 with consolidated net income from controlling shareholders of R$ 333 million, and the net income of continuing operations stood at 4.2x higher than the previous year , adding up to R$ 274 million (strong growth of 322.0%) The 2Q20 result showed the group’s operating impro
Slide 10: Net debt and liquidity
(1) Adjusted EBITDA before IFRS 16 in the last 12 months. Net debt adjusted by the balance of unsold receivables was R$ 9.2 billion for GPA Consolidated vs R$ 1.3 billion in 2Q19, which mainly reflects the funding operation for the acquisition of Grupo Éxito. The Company reduced its leverage in R$ 1
Slide 11: Gross investments and expansion plan
Gross investments totaled R$ 536 million, of which: i) R$ 464 million in the Brazilian perimeter – supporting the opening of two Assaí stores in the quarter and the construction of another 16 stores that will open in the next quarters (13 organic and 3 conversions from Hiper) and ii) R$ 71 million i
Slide 12: Store count and sales area
03/31/2020 06/30/2020 Stores ‘Openings Openings OY crosin Closing te Stores pat —_ Conversion Conversion (000 m*) GPA Brazil 1,072 2 os 4 = 1,070 14944 Assai 167 2 - - - 169 724 PSo de Aciicar 185 : : 3 : 182 234 Extra Hiper 107 : : - - 107 659 Extra Supermercado SL : : : : SL 43 Mercado Extra 100 :
Slide 13: Balance sheet
(88 miton) 06.30.2020 06.30.2019, Curent assets 21358 32,002 (Gash and Marketable Securities 7,736 4,05 ‘ecounts ReceWvatle 205 307 reals Cards 186 @ ‘Seles Vouchers and Trade Account Receivable 01 Fa ‘Alowance for Doubt Accounts (ea @ Resting from Commercial Agreements 76 301 Trwentories 338 S692 R
Slide 14: Income statement by business
(1) Consolidated includes results of other complementary businesses; (2) Share of profit in an associate includes Cdiscount’s results in the Consolidated figures; (3) Net income after non-controlling interest; (4) Adjusted for Other Operating Income and Expenses.
Slide 15: Statement of cash flow
STATEMENT OF CASH FLOW (RS million) Net income (Loss) for the p 273 576 Deferred income tax (178) 62 Loss (gain) on disposal of fixed and intangible assets (95) 112 Depreciation and amortization 1,229 724 Interests and exchange variation 862 292 Adjustment to present value a) E Equity Income 36 aL P
Slide 16: Gross sales by banner
(RS million) 2020 4 1420 % ams % ry Mattivarejo 3,038 Bim 15379 466% 13,983 99% 10.0% Pio de Agdcar 2,06 151% 4037 —«122% = 3,608 129% 119% Bare 4977 181% 9284 281% = 8.370 298% 109% Convenience Stores ® aa 25.8% #12 25% 64S 23% 259% Other Businesses 534 222% 1247 38% 1,360 49% 8.4% Cash & Carry 9,0
Slide 17: Breakdown of sales – Brazil
(1) Includes sales from Extra Supermercado, Mercado Extra, Extra Hiper and Compre Bem. (2) Includes sales by Mini Extra and Minuto Pão de Açúcar. (3) Includes sales from Gas stations, Drugstores, Delivery and rental revenue from commercial centers. (4) GPA includes the result of James Delivery, Stix
Slide 18: Glossary
Food – Brazil: Amounts reported refer to the sum of Assaí and Multivarejo operations. Grupo Éxito: Amounts reported refer to Grupo Éxito’s operations in Colombia, Uruguay and Argentina. GPA acquired 96.57% of the capital stock of Grupo Éxito on November 27, 2019. Consolidated: Amounts reported refer
Brazilian Distribution Co Companhia Brasileira DE Distr CBD — Q2 2020 Earnings Presentation on 6ix