Companhia Brasileira De Distribuicao · BMFBOVESPA:PCAR3
Companhia Brasileira De Distribuicao — Brazilian Distribution Co Companhia Brasileira DE Distr CBD — Q1 2020 Earnings Presentation
14 slides from Companhia Brasileira De Distribuicao's earnings presentation, May 14, 2020
Slide 1: CEO message on first quarter 2020 results
(1) GPA Food Business BrazilResults do not include the result of other complementary businesses. (2) Operating income before interest, taxes, depreciation and amortization. (3) Adjusted for Other Operating Income and Expenses. PS: Tax credits were not materially different from previous quarters. “Th
Slide 2: Assaí results for 1Q20
(1) Operating income before interest, tax, depreciation and amortization. (2) Adjusted for Other Operating Income and Expenses. Gross sales revenue grew by over R$1.6 billion, totaling R$8.5 billion in the quarter. The strong growth of 23.8% was driven by the successful expansion of 40 stores in the
Slide 3: Multivarejo results for 1Q20
(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. Gross revenue totaled R$7.3 billion in 1Q20 (+6.1% vs. 1Q19), driven by the maturation of renovated a
Slide 4: Grupo Éxito results for 1Q20
(1) Operating income before interest, tax, depreciation and amortization. (2) Adjusted for Other Operating Income and Expenses. (3) Proforma for comparison purposes only. Gross sales totaled R$5.7 billion in 1Q20, with significant growth of 14.5% in total sales and same-store sales grew 12.1%, confi
Slide 5: Net financial result of GPA Consolidated
Net financial result of GPA Consolidated was R$426 million, equivalent to 2.2% of net sales. Due to the adoption of IFRS 16, the financial result now includes Interest on lease liability , which totaled R$212 million in the quarter. Considering the net financial result without the effect of Interest
Slide 6: Net income of controlling shareholders
(*) Adjusted by Other Operating Income and Expenses after taxes Consolidated GPA ended 1Q20 with a net loss of controlling shareholders of R$ 130 million, mainly explained by a greater depreciation with the Grupo Éxito’s consolidation and a higher cost of debt (impact of R$ 92 million on the financi
Slide 7: Net debt and cash position
(1) Adjusted EBITDA before IFRS 16 in the last 12 months. Net debt adjusted by the balance of unsold receivables totaled R$ 10.8 billion for GPA Consolidated, equivalent to 2.5 times net debt/adjusted EBITDA (1) , mainly reflecting the funding operation for the acquisition of Grupo Éxito. The higher
Slide 8: Investments and store portfolio changes by banner - Brazil
In 1Q20, investments in Brazil totaled R$ 591.3 million, net of asset sales, which went to the expansion of an Assaí store, a Minuto Pão de Açúcar store and a gas station. Investments in Grupo Éxito totaled R$ 81.7 million, with the opening of two Surtimayorista stores (cash and carry model that alr
Slide 9: Expansion, conversion and renovation plan
The Company reaffirms its plan for expansion, conversion and renovation of stores. However, in light of the new coronavirus (Covid-19) pandemic, works could be postponed.
Slide 10: Balance sheet
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Slide 11: Consolidated income statement
(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 by Other Operating Income and Expenses.
Slide 12: Pro forma consolidated figures
(*) Considers 3 months of Via Varejo in 2019 and 3 months of Éxito in 2020.
Slide 13: Breakdown of sales (% of net sales) - Brazil
(1) Includes sales by Extra Supermercado, Mercado Extra, Extra Hiper and Compre Bem. (2) Includes sales by Mini Extra and Minuto Pão de Açúcar. (3) Includes sales by Gas stations, Drugstores, Delivery and rental revenue from commercial centers. (4) GPA Brazil includes the result of other complementa
Slide 14: Glossary and definitions
Adjusted EBITDA: Measure of profitability calculated by excluding Other Operating Income and Expenses from EBITDA. Management uses this measure in its analyses as it believes it eliminates nonrecurring expenses and revenues and other nonrecurring items that could compromise comparability and analysi
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