Q2 2024 Americanas SA - Em Recuperacao Judicial Earnings Call (English, Portuguese) Transcript
Key Points
- Americanas SA (BSP:AMER3) successfully completed its judicial recovery plan, significantly reducing its debt from BRL42.3 billion to an estimated BRL2.2 billion.
- The company reported a strong improvement in profitability, with a gross margin increase to 34.5% in the first six months of 2024.
- Physical retail showed resilience, with a 15.9% increase in sales compared to the same period in 2023, despite a challenging market environment.
- Americanas SA (BSP:AMER3) has implemented strategic initiatives to optimize its store operations, including remodeling and adjusting product assortments to better meet customer demands.
- The company has strengthened relationships with suppliers, which has positively impacted its working capital and operational efficiency.
- Americanas SA (BSP:AMER3) experienced a significant decline in digital sales, with a 75% drop in 2023 due to a crisis in credibility.
- The company had to close 125 stores due to underperformance and the challenging retail environment.
- Despite improvements, the adjusted EBITDA remains negative, indicating ongoing financial challenges.
- The digital segment is not a priority for market share growth, which may limit future expansion opportunities in this area.
- Americanas SA (BSP:AMER3) is still under judicial recovery supervision, with an expected exit not anticipated before 2026.
Good morning, everyone, and thank you for waiting. Welcome to the Americanas audio conference to the disclosure of 2023 and the first six months of 2024.
(Operator Instructions) This video conference is being recorded, and it will be available in the Investor Relations website, ri.americanas.io, where it's available, the complete material of the presentation. (Operator Instructions)
We emphasize that the information contained in this presentation and any statements made during the future conference regarding business prospects, projections, and operational and financial goals of Americanas are based on the beliefs and assumptions of the company's management as well as information currently available.
Forward-looking statements are not guarantees of performance. They involve risks, uncertainties, and assumptions. And they refer to future events and therefore, depend on circumstances that may or may not occur. Investors should understand that general economic conditions, market conditions, and other operational factors that may affect the future performance of Americanas and can
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