Q3 2024 Pet Center Comercio e Participacoes SA Earnings Call (English, Portuguese) Transcript
Key Points
- Pet Center Comercio E Participacoes SA (BSP:PETZ3) reported a solid reversal in trends, indicating resumed growth in revenue, gross margin, EBITDA, and net profit.
- The company achieved an 8% real growth in revenue, with inflation rates close to zero, highlighting genuine business expansion.
- The omni-channel platform remains scalable and profitable, with a narrowing gap in contribution margin between physical stores and digital channels.
- The customer base showed significant growth, with a 14% increase in active customers and a 20% rise in subscribers year over year.
- The company maintains a strong financial structure with a net cash position of 49 million, allowing for store expansion and technology investments without depleting cash reserves.
- Despite improvements, the gross margin percentage remains low, indicating room for further enhancement.
- The company faced pressures in the first half of the year, with results below expectations, impacting overall annual performance.
- There is ongoing pressure from high interest rates, which could affect future financial stability.
- The digital channel, while growing, still presents challenges in maintaining profitability compared to physical stores.
- The competitive landscape remains intense, with no significant relief, requiring continuous strategic adjustments to maintain market position.
Good morning and thank you for waiting. Welcome to the Pets Hall for the results of the third quarter of 2024.
I would like to highlight that if you need simultaneous translation. The tool is available in order to turn it on, all you have to do is click on the icon interpretation at the lower bottom of your screen and select your preferred language Portuguese or English.
For those following this meeting in English, you can mute the original audio in Portuguese just by clicking on mute original audio.
At the end of the company's presentation, we will start a Q&A session to send your questions. Just select the icon Q&A on the lower portion of your screen, include your name, company and language. To get in line when your name is called, we'll receive a request to turn on your mic and please turn your mic and ask your question.
I'd like to inform you that this call is being recorded and will be made available on the investor relationship website.
Today, we'll have company executives, Sergio Zimmerman, CEO and Alina Penner, Financial Vice President,
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