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In the second quarter, the Pão de Açúcar Group posted a consolidated net income of R $ 526 million, almost five times higher than the same period of 2017, with a sharp rise in revenue. Business and sales acceleration flags the multivarejo division, the company said late Tuesday.
Paulo Whitaker, Paulo Whitaker and Paulo Whitaker.
Photo: Reuters
GPA's gross revenues increased by nearly 10% during the quarter to R $ 12.772 billion, due to the 22.8% increase in sales revenue. Assaí, who earned two points
"This result leads us to reaffirm a new trend of business activity turnover: Assaí continues to record sustained growth in its turnover figure. Business, with a change in its market share coupled with a solid result ". Peter Estermann, CEO of GPA
Excluding the calendar effect, retail sales in the same store concept grew by 4.7% in the second quarter. According to the balance sheet, the GPA still reported a profit before interest, taxes, depreciation and amortization, and increased by 5.3%.
The GPA always reported earnings before interest, taxes, depreciation and amortization. depreciation (EBITDA) of R $ 972 million between April and June, surpbading by 50.7% that of the same period of 2017. [19659004reversaloftaxprovisionsaftertheFederalSupremeCourt)todecideinMarchthattheincorporationofSGICintothebasisforcalculatingPISandCofinscontributionswasunconstitutional
At the end of June, the ratio of net debt to EBITDA was 1.03, compared to 1.16 times the year before. Selling, general and administrative expenses increased by 3.5% in the second quarter to R $ 2.037 billion, while financial expenses decreased by 21.5% to R $ 148 million due to lower interest rates. 39; interest.
The company also invested 330 million reais in food retailing between April and June, up 15% from last year. Funds were allocated for the opening of three Assaí stores, renewals in Pão de Açúcar flag units and other initiatives.
The second quarter figures allow GPA to confirm its forecast for 2018, including an adjusted EBITDA margin of 5.5 5.6 percent in the multivarejo and 5.8 to 5.9 percent on the flag of atacarejo Assaí
In 2018, the preferred shares of GPA have accumulated a decline of nearly 3 percent, against Ibovespa, which has increased by 3.6% since the beginning of the year
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