Sendas Distribuidora Sa · BMFBOVESPA:ASAI3
Sendas Distribuidora Sa — Q4 2024 Earnings Presentation
15 slides from Sendas Distribuidora Sa's earnings presentation, Feb 20, 2025
Slide 1: Earnings Release 4th Quarter 2024
EARNINGS RELEASE 4th QUARTER 2024 FEBRUARY 20TH, 2025
Slide 2: EBITDA Margin Improvement and Outperformance of Guidance of Leverage
EBITDA MARGIN IMPROVEMENT AND OUTPERFORMANCE OF GUIDANCE OF LEVERAGE EXPANSION: 15 new stores in 2024, reaching the guidance EBITDA MARGIN expansion • Strengthening national presence in strategic regions • New stores maturation • 6 new stores in 4Q24 • Expenses control, even with services implementa
Slide 3: Ongoing Conversions Evolution: Sales Growth and EBITDA Margin Expansion
ONGOING CONVERSIONS EVOLUTION: SALES GROWTH AND EBITDA MARGIN EXPANSION Average sales/sqm of stores converted in 2022 are 93% of the average sales/sqm of stores open until 2022 Conversions Opened in 2022: (47 stores) Average Monthly Revenue R$ million Conversions Opened in 2023: +25% (17 stores) +5%
Slide 4: Expenses Level Reduction: Maturation of Stores and Efficiency in Costs Control
EXPENSES LEVEL REDUCTION: MATURATION OF STORES AND EFFICIENCY IN COSTS CONTROL Dilution of expenses even with the implementation of 618 service units and inflationary pressure Sales, General and Administrative Expenses (% Net Revenue) Class AB gains relevance in the customer base B2C: B2B: 12.2% Pré
Slide 5: EBITDA Margin Expansion Due to Gross Profit Optimization and Expenses Control
EBITDA MARGIN EXPANSION DUE TO GROSS PROFIT OPTIMIZATION AND EXPENSES CONTROL Gross Profit EBITDA (R$ Billion; Pre-IFRS 16) (R$ Billion; Pre-IFRS 16) +12.9% Maturation of 12.2 new stores 10.8 +20% 4.2 Effective 3.5 Strategy +16% 1.3 Post-IFRS 16 1.1 R$ 5.5 bn Expansion of Post-IFRS 16 margin 7.5% Se
Slide 6: Improvement in Financial Results and Net Income Increase
IMPROVEMENT IN FINANCIAL RESULTS AND NET INCOME INCREASE Financial Result Net Income (R$ Million; Pre-IFRS 16) (R$ Million; Pre-IFRS 16) +20% 930 776 -16% +38% -478 474 -400 343 2023: 2024: R$ 1.8 bn R$ 1.9 bn 4Q23 4Q24 4Q23 4Q24 2023 2024 +44.8% +8.3% Financial Result (1) -2.6% -2.0% Post-IFRS 16 R
Slide 7: Operating Cash Generation in the Last Years Supported 95% of Investments
OPERATING CASH GENERATION IN THE LAST 2 YEARS SUPPORTED 95% OF INVESTMENTS Dec/22 Dec/24 Gross Sales (1) : +R$ 21 billion of sales (+35%) Gross Sales (1) : R$ 60 bn R$ 81 bn R$7.7 bn INVESTMENTS: R$ 8.1 BILLION R$ -0.9 bn R$ -3.9 bn R$ -3.3 bn R$ -3.6 bn Operational Investments in Payments of Invest
Slide 8: Acceleration of Deleveraging, Exceeding Guidance Once Again
ACCELERATION OF DELEVERAGING, EXCEEDING GUIDANCE ONCE AGAIN Reduction of R$ 0.6 billion in net debt and increase in EBITDA Pre IFRS 16 Guidance ~4.1x(3) (R$ Billion) Achieved 3.80x 3.75x 3.65x 3.52x < 3.2x 3.04x -0.6bn ~2.6x 13.8 14.0 13.9 13.1 12.5 Unscaled chart 4Q23 1Q24 2Q24 3Q24 4Q24 4Q25E EBIT
Slide 9: Fundraisings Throughout 2024 Changed the Debt Profile
FUNDRAISINGS THROUGHOUT 2024 CHANGED THE DEBT PROFILE Term extension and costs reduction, in addition to addressing the need of refinancing for 2025 Liability Management Fundraising: Debt Maturity Schedule 9th Debenture (R$ Billion; Principal) R$ 6.6 bn Mar new fundraisings in 2024 R$ 0.5 bn CDI+1.2
Slide 10: Cash Availability Increases 17% vs. 4Q23
CASH AVAILABILITY INCREASES 17% vs. 4Q23 Cash Availability (R$ Billion) 17% 7.6 Dividends 6.9 & IOE 6.4 1.9 1.8 5.9 1.0 5.2 0.6 1.9 2.0 2.7 1.6 IO Payment R$ 109 million 2.6 1.5 3.5 3.7 2.7 2.5 Proposed Dividends 1.9 R$ 20 million 4Q23 1Q24 2Q24 3Q24 4Q24 Cash (Exc. Discounted Receivables) Discounte
Slide 11: Continuous Advances in Sustainable Initiatives Driving Prosperity for All
CONTINUOUS ADVANCES IN SUSTAINABLE INITIATIVES DRIVING PROSPERITY FOR ALL People and Community Efficient Operations Development • 10% reduction in emissions of scope 1(1) and 2(2) vs. 4Q23 +87 thousand employees in 2024: • Destino Certo Program: Implemented in +94% of stores • 45.8% of black leaders
Slide 12: Awards and Recognitions
AWARDS AND RECOGNITIONS Melhores e maiores 2024 (Exame) Best Wholesale and Retail Company Branding Brasil Most remembered brand in physical and digital retail Interbrand Ranking of Most Valuable Brazilian Brands Most valuable brand in food retail Folha Top Of Mind 3rd year the most remembered brand
Slide 13: Focus on Cash Generation
FOCUS ON CASH GENERATION ONGOING PROCESS OF NET DEBT REDUCTION R$ 12.5 bn no 4Q24: -R$ 0.6 bn vs 4Q23 -R$ 1.4 bn vs 3Q24 EXPANSION Around 10 new stores in 2025 Anticipation of the revision of the store opening guidance for 2026 GREATER CASH GENERATION Progress in expansion maturation Reduction in in
Slide 14: Chat Q&A Interpretation
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 perguntas
Slide 15: Thank You
THANK YOU Investor Relations Team | ri.assai@assai.com.br / ri.assai.com.br