SAO PAULO (Reuters) – Americanas posted on Thursday a 20.5% increase in fourth quarter net income over a year earlier, with operating performance within market expectations and digital sales growth of more than 30%.
The comparison with the fourth quarter of 2020 is pro-forma, considering as if the merger between Lojas Americanas and B2W had taken place since the beginning of last year. The deal was approved by the shareholders of both companies in July last year. Completing the merger, Lojas Americanas shares ceased trading last month.
The result was released five days after the company was the target of a digital attack that forced it to keep its sales sites offline for almost four days. In the balance sheet, the company did not give details about the event or financial impacts, mentioning only that it will continue to investigate the episode “over the next few weeks.
The cash generation measured by the earnings before interest, taxes, depreciation and amortization (Ebitda) of Americanas in the fourth quarter retreated 10.8%, to 1.07 billion reais. Analysts, on average, expected EBITDA of 1 billion reais for the period.
The company estimated in its balance sheet that the synergies created with the merger of Lojas Americanas and B2W amounted to 2.3 billion reais by 2024 and a net present value (NPV) of 1.6 billion reais.
“Among the operational synergies measured are costs with freight and marketing, technology and logistics. Financial synergies, on the other hand, involve the optimization of financial management and the anticipation of receivables”, said the company.
Americanas had total gross sales (GMV) of 18.1 billion reais in the quarter, 28.3% higher than a year earlier. Sales on digital channels grew by 36.2% to 13.3 billion.
In the physical environment, same-store sales rose 4.1% year-on-year and gross revenue grew 10.7%, to 4.85 billion reais.
(By Alberto Alerigi Jr.)
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