SAO PAULO (Reuters) – Via Varejo announced this Wednesday that net income for the second quarter grew 103% compared to the same stage in 2020, at 132 million reais, supported by strong growth in e-commerce, in the wake of isolation measures Social.
The company, which owns the Casas Bahia and Ponto chains, in addition to the Banqi digital bank, recorded gross revenue in the GMV concept of 11.4 billion reais, an expansion of 51% over the performance of the same period last year.
According to the company, around 65% of GMV was due to digital sales, which corresponded to around 7.5 billion reais, an increase of 35.7% on an annual basis.
“We started the year with 10,000 sellers on our platform and in July we had already reached 70,000,” stated the company in a comment on performance. The number of available products (SKUs) soared from 3 million in March last year to almost 30 million at the end of June this year.
The operating result measured by earnings before interest, taxes, depreciation and amortization (Ebitda) adjusted totaled 485 million reais, down 12.6% in the annual comparison, with the margin shrinking 4.4 points, to 6.2%. Analysts expected an Ebitda of 550 million reais, according to Refinitiv.
Focused on accelerating its growth in e-commerce before groups such as Mercado Livre, Magazine Luiza and Americanas, Via Varejo recorded a 47% jump in sales, general and administrative expenses, reaching 2 billion reais.
According to the company, the comparison “is impaired” since in the second quarter of 2020 the federal government offered measures that benefited companies due to the pandemic scenario, including suspension of employment contracts, postponement and/or suspension of payment of rents and others benefits.
The company had a little more than 4 million active customers in the installment plan in June and with a portfolio of 4.74 billion reais, an increase of 53% compared to the same period in 2020.
(By Alberto Alerigi Jr.)
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