Companhia Brasileira De Distribuicao · BMFBOVESPA:PCAR3
Companhia Brasileira De Distribuicao — Brazilian Distribution Co Companhia Brasileira DE Distr CBD — Q1 2019 Earnings Presentation
18 slides from Companhia Brasileira De Distribuicao's earnings presentation, May 13, 2019
Slide 1: (1) Earnings before interest, tax, depreciation and amortization. (2) Adjusted
(1) Earnings before interest, tax, depreciation and amortization. (2) Adjusted by Other Operating Income and Expenses.
Slide 2: Consolidated results
see and hea Consolidated Pre- Post- Pre- Post- Pre- Post- (68 milion) wrsie "E°rnsie —mrsas = ME rnsa6 RSI —_FRS16 Gross Revenue 13,827 013,828 72,300 0 12300 DAK 128% Net Revenue 32,709 0. 2 11,343 0 13343 0% 12.0% Gross Profit 2,788 @ 2,796 2547 1B 2,560 95% 9.2% GrossMargin 219% 10bps__—_—-22.0%
Slide 3: CEO comment on the quarter
(1) Earnings before interest, tax, depreciation and amortization. (2) Adjusted by Other Operating Income and Expenses. “For another quarter, we have made important advances in all formats of the food business, as a result of our assertive multi-channel, multi-format and multi-region strategy. Assaí
Slide 4: Assaí results
(1) Earnings before interest, tax, depreciation and amortization. (2) Adjusted by Other Operating Income and Expenses. Gross sales revenue totaled R$6.9 billion, speeding up the growth pace to 25.6%, reflecting the accelerated maturation of stores opened in 2018 and the strong same-store growth of 1
Slide 5: Multivarejo results
(1) Earnings before interest, tax, depreciation and amortization. (2) Adjusted by Other Operating Income and Expenses. Gross sales revenue totaled R$6.9 billion in the period, up 1.8% from 1Q18, despite the unfavorable calendar caused by Easter falling in the second quarter. Same-store growth has re
Slide 6: Financial result
The Company’s financial result amounted to R$289 million, or 2.3% of net sales. Without the application of IFRS 16, financial result amounted to R$142 million, 1.1% of net sales, down 10 bps from 1Q18. The main variations were: ▪ Reduction in the cost of debt: in line with the decline in the CDI int
Slide 7: Net income and earnings per share
In the Food segment, net income attributable to the controlling shareholders from continuing operations was R$189 million, 52.8% higher than in 1Q18, with margin of 1.5%. At Assaí, net income grew 44.6% to R$158 million, with margin of 2.5%. At Multivarejo, net income grew 115.3% to R$31 million, wi
Slide 8: Debt and liquidity
(1) EBITDA before IFRS 16, in the last 12 months. Net debt adjusted for the balance of unsold receivables stood at R$3.5 billion. The Company’s financial leverage remains low and is constantly improving, with net debt/EBITDA ratio of -1.12. Cash balance stood at R$2.4 billion and the balance of unso
Slide 9: Investments in the Food segment
Investments in the Food segment totaled R$463 million in the quarter, up 40.2% from 1Q18. We opened one Assaí store through conversion (another 10 are under construction) and one drugstore. Moreover, 2 conversions of Mini Extra to Minuto Pão de Açúcar and 7 conversions of Extra Super to Mercado Extr
Slide 10: Balance Sheet
BALANCE SHEET (85 ton) 05512019 12312018 053312018 aBs12019 12512018 03312018, current assets 36919 ange 3587 ao210 1179 ‘aot (Cash and Marketable Secures 2359 4369 1701 2358 4369 270. “Allowance for Doubtful Accounts a a @ a io @ Relig fom Connmeial agree 65 ao 6 6 m1 a Noneurent sets 20753 29ane 3
Slide 11: Segment results
(1) Multivarejo includes the results of Malls and Corporate. (2) Equity income from Cdiscount is included in the Consolidated results and not in the Retail and Cash-and-Carry segments. (3) Net income after non-controlling interest. (4) Adjusted by Other Operating Income and Expenses.
Slide 12: Segment results
(1) Multivarejo includes the results of Malls and Corporate. (2) Equity income from Cdiscount is included in the Consolidated results and not in the Retail and Cash-and-Carry segments. (3) Net income after non-controlling interest. (4) Adjusted by Other Operating Income and Expenses.
Slide 13: Statement of Cash Flow
‘STATEMENT OF CASH FLOW {8S million) 03.31.2019 03.31.2018, [Net Income (Loss) for the period 219 267 Deferred income tax @ 32 Loss (gain) on disposal of fixed and intangible assets 74 aw Depreciation and amortization 365 334 Interests and exchange variation 44s asi Equity Income 7 30 Provision for
Slide 14: Cash flow summary
(R$ million) 1019 1018 Cash Balance at Beginning of Exercise 8,080 7,351 Cash Flow from Operating Activities (4,608) (4,873) EBITDA 1,270 1,220 Cost of Sale of Receivables (174) (a76) Working Capital (5,124) (5,358) Assets and Liabilities Variation (673) (559) Cash Flow from Investment Activities (6
Slide 15: Breakdown of Sales
(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. 5. Breakdown of Sales (% of Net Sales)
Slide 16: Sales Breakdown (% of Net Sales)
SALES BREAKDOWN (% of Net Sales) 1Q19 1018 Cash 49.1% 49.9% Credit Card 40.0% 39.2% Food Voucher 10.9% 10.9%
Slide 17: 1Q19 Results Conference Call and Webcast
1Q19 Results Conference Call and Webcast Thursday, May 9, 2019 10:30 a.m. (Brasília) | 9:30 a.m. (New York) | 2:30 p.m. (London) Conference call in Portuguese (original language) +55 (11) 3181-8565 Conference call in English (simultaneous translation) +1 (412) 717-9224 or +1 (844) 763-8274 Webcast:
Slide 18: Definitions
Discontinued Operations: Due to the ongoing divestment of the interest held by GPA in Via Varejo S.A., the operations of Via Varejo are treated as discontinued operations. Accordingly, net sales and other profit or loss accounts were adjusted retrospectively, as required under IFRS 5/CPC 31, approve
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