Sendas Distribuidora Sa · BMFBOVESPA:ASAI3
Sendas Distribuidora Sa — Q4 2023 Earnings Presentation
10 slides from Sendas Distribuidora Sa's earnings presentation, Feb 22, 2024
Slide 1: Results Release 4th Quarter of 2023
RESULTS RELEASE 4TH QUARTER OF 2023 FEBRUARY 22ND, 2024 Este conteúdo foi classificado como CONFIDENCIAL
Slide 2: 2023: EBITDA Margin Stability and Achievement of Company's Guidance
2023: EBITDA MARGIN STABILITY AND ACHIEVEMENT OF COMPANY’S GUIDANCE Revenue surpassed R$20 billion in 4Q23 with significant market share gains EXPANSION: 27 openings in the year, of which 12 in 4Q23 288 stores in operation, +1.4M sqm in sales area INVESTMENTS: R$ 2.5 billion in expansion and R$ 2.4
Slide 3: Converted Stores in Operation with Sales Uplift in Line with Project's Objective of 3x
64 CONVERTED STORES IN OPERATION WITH SALES UPLIFT IN LINE WITH PROJECT’S OBJECTIVE OF 3x 47 stores converted in 2022: increase in sales average/store and EBITDA margin Pre of 5.6% Average Monthly Revenue Sales (47 Conversions Opened in 2022) Uplift ~3x R$ 28M R$ 26M R$ 24M R$ 22M Sale Uplift of +3.
Slide 4: Highest Margin Since Beginning of the Project and Achievement of Guidance
HIGHEST MARGIN SINCE BEGINNING OF THE PROJECT AND ACHIEVEMENT OF COMPANY’S GUIDANCE Margin improvement confirms quality and accelerated maturation of hypermarket conversions EBITDA Pre EBITDA Post (R$ Million) (R$ Million) +20.4% +20.0% 4,712 3,495 3,912 +33.1% 2,912 +22.6% 1,118 1,436 1,171 840 4Q2
Slide 5: Net Income Proves Company's Operational Resilience
NET INCOME PROVES COMPANY’S OPERATIONAL RESILIENCE Higher gross debt and reduction in capitalized interests affect financial results Financial result Net Income (R$ Million) (Pre-IFRS 16) Quarterly 4Q23 2023 -736 -258 R$ 343 Million R$ 776 Million -445 -176 Net Margin: 1.9% Net Margin: 1.2% -478 -26
Slide 6: Acceleration of Deleveraging Confirms Rapid Maturation of New Stores
ACCELERATION OF DELEVERAGING CONFIRMS RAPID MATURATION OF NEW STORES Solid cash generation and improvement in working capital intensify the drop in leverage in the period Operating Cash Generation Leverage (12 months) -0.3x -0.6x Net Debt (1) (Dez/22) R$ 12.6 bn 4.67x 4.69x 4.37x 4.44x 4.25x Operati
Slide 7: In the Last Years, Operating Cash Generation Was R$11.2 Billion
IN THE LAST 3 YEARS, OPERATING CASH GENERATION WAS R$11.2 BILLION Dec/20 +R$34 billion in sales and 115 new stores (2) Dec/23 Sales (1) : Sales (1) : R$ 39 bn R$ 73 bn (184 stores) (288 stores) R$ 11.2 bn Investments: R$ 12.1 bn R$ -0.9 bn R$ -0.4 bn R$ -3.7 bn R$ -3.9 bn R$ -7.5 bn Operating Cash I
Slide 8: Redefinition of Sustainability Strategy Based on Pillars of Action
REDEFINITION OF SUSTAINABILITY STRATEGY BASED ON 3 PILLARS OF ACTION Presence in important ESG indexes for the 2nd consecutive year STRATEGIC PILLARS Drive prosperity for all with responsible and transparent operations and lower environmental HIGHLIGHTS 4Q23 impact • Presence in the Corporate Sustai
Slide 9: Perspectives: Deleverage and Increased Cash Generation
PERSPECTIVES: DELEVERAGE AND INCREASED CASH GENERATION LEVERAGE REDUCTION < 3.5x by the end of 2024 CONTINUITY OF EXPANSION ~15 stores planned for 2024 Lower level of investments compared to previous years PAYMENT OF THE LAST INSTALLMENT OF HYPERMARKETS ACQUISITION ~R$ 900 million in January/24 GREA
Slide 10: Q&A
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