PRIVATE-LABEL BRANDS
Portfolio repositioning
+500 products launched
Better quality and price competitiveness
OPTIMIZATION OF STORE PORTFOLIO
Complete revision of assortment
15 Pão de Açúcar stores renovated into the new model
23 Extra Super to Mercado Extra
13 conversions to Compre Bem
DIGITAL TRANSFORMATION
Creation of the DigitalTransformation Executive Area
R$53.6 billion
Partnership with Cheftime
revenue,market share gainsin all segments
Acquisition of James Delivery
Strong growth in food e-commerce
R$1.3 billion
Launch of Pão de Açúcar Adega
"My Discount"app: + 7.5 million downloads
net income, more than double vs. 2017
Product and service offering better aligned with consumer market needs
EXPANSION
18 Assaí stores inaugurated in 2018
Over 1.7 billion in 2018
Confidence in execution of strategy and recovery of economic scenario
1
2018: Highlights
GPA Food: better operating performance across all segments resulted in solid net margin expansion
Food Business - R$ million
Gross Sales
Gross Profit
Gross Margin
SG&A
SG&A (% net sales)
Adjusted EBITDA(1)(2)(*)
Adjusted EBITDA Margin
Net Income - Controlling Shareholders - continuing operations
Net Margin- continuing operations
Store portfolio better adapted to demands of consumer market:real sales growth above the market, with improved results;
Strong growth in gross sales revenue:continuity of solid performance by Assaí and consistent improvement in Multivarejo;
Significant dilution of operating expenses:rigorous control of expenses at Multivarejo and Assaí;
Growth of Adjusted EBITDA:expansion in line with guidance at Multivarejo and above expectations at Assaí;
Net income growthresulted in higher net margin, which doubled in the year.
(*) Excluding tax credits. (1) Earnings before interest, tax, depreciation and amortization. (2) Adjusted for Other Operating Income and Expenses.
2
Financial result improves to 1% of net revenue, with low leverage
(1)Includes unsold credit card receivables.(2)EBITDA in last 12 months.
Cash &EquivalentsCAPEX
•Cash position in Dec/18: R$4.4 billion and unsold receivables totaling R$96 million
•R$1.8 billion in pre-approved/confirmed creditlines
V
•R$598 million in 4Q18, +68.7% vs. 4Q17
•R$1.7 billion in 2018, +28.8% vs. 2017
3
Multivarejo: sales performance combined with greater operating efficiency resulted in significant increase in profitability
Gross Sales Revenue
(Growth vs. 4Q17)
+0.2%
-1.3%
3.2%
4.3%
4.5%
Same-storeCalendar effectSame-store ex-calendar effectExpansion/ Closures
Total Stores
(1)EBITDA adjusted for Other Operating Income and Expenses
(2) Excluding tax credits
(R$ million and % of net sales)
SG&A
-150 bps
23.5%
22.0%
23.4%
1,661 | 1,612 |
4Q17
6,132
4Q18
2017
Highlights
•Gross sales revenue of R$7.9 billion in 4Q18:the level around mid-single since March.
-80 bps22.6%
5,996
2018
SSS of 4.5%, maintaining
•Reduction in SG&A:significant decline of 3.0% and strong dilution, due to lower personnel expenses and rigorous control of general expenses.
•EBITDA growth(1):+21.2%, with increase inEBITDA margin to 5.5%
•Net Income:expansion to R$120 million, with margin of 1.6% .
4
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CBD - Companhia Brasileira de Distribuição published this content on 21 February 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 21 February 2019 15:52:06 UTC