Q2 2024 Sendas Distribuidora SA Earnings Call (English, Portuguese) Transcript
Key Points
- Sendas Distribuidora SA (ASAI) hired over 2,000 new employees and gained 2 million new monthly customers in the second quarter.
- The company achieved a milestone of 79 million customers, an increase of 7 million compared to the previous year.
- Sendas Distribuidora SA (ASAI) reported a robust EBITDA growth of 18% compared to the previous year, with a margin of 7.2% pre-IFRS.
- The company is on track to surpass 300 stores by the end of the year, with significant store openings planned.
- Sendas Distribuidora SA (ASAI) has been recognized for its sustainability efforts and diversity, receiving multiple awards and recognitions.
- Consumers and B2B customers are pressured by debt and interest rates, impacting purchasing power.
- The company faces challenges with inflation and changes in consumer habits, affecting market conditions.
- High levels of leverage due to interest rates have resulted in significant financial expenses.
- The competitive environment remains challenging, with shifts in payment terms and installment sales impacting market dynamics.
- Same-store sales growth was slightly below expectations, with the second quarter performance not meeting initial projections.
(interpreted) Good morning, everyone, and thank you for waiting. Welcome to our earnings call for the second quarter of '24 at Assai Atacadista. (Operator Instructions)
We'd like to let you know that this earnings call is being recorded and will be provided on the IR website of the company at ri.assai.com.br, where you can already find our release as well. (Operator Instructions)
The information presented in this presentation and possible statements that could be made during the earnings call related to business perspectives, forecasts, and operational targets and financial targets at Assai represent beliefs and assumptions of the company's management, as well as information that is currently available.
Future statements are not a guarantee of performance. They involve risks, uncertainties, and assumptions as they refer to future events and thus, rely on circumstances that could or not occur. Investors must comprehend that overall general market conditions and economic conditions and other operational factors can affect the future performance at Assai and lead to results that
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