Americanas (AMER3), in judicial recovery, recorded a net loss of R$4.61 billion in the first nine months of 2023 (9M23), which represents a reduction of 23.5% in relation to the net loss of R$6. 02 billion in the first nine months of 2022, the retailer reported this Monday (26).
The retailer had a loss of R$1.621 billion in the third quarter, 17.8% lower than the loss of R$1.972 billion a year earlier, a number already corrected in relation to the R$212 million loss that the company had originally announced.
Earnings before interest, taxes, depreciation and amortization (Ebitda) was R$1.55 billion between January and September last year, growth of 21.3% over the Ebitda of a year before.
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Net revenue was R$10.2 billion in 9M23, down 45% from R$18.7 billion in the same period in 2022. In the third quarter, net revenue totaled R$3.261 billion, a drop of 39 .2% compared to the same period in 2022.
The total gross merchandise volume (GMV) was R$16.0 billion in the first nine months of 2023, a decrease of 51.1% compared to the same period in 2022.
The GMV of the physical platform, in turn, was R$9.3 billion, a drop of just 4.4% compared to the same period of the previous year.
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In 9M23, gross profit fell 8.2% compared to 9M22, reaching R$2.9 billion. The gross margin was 27.7%, a relevant increase of 11.1 pp. “The evolution of
margin is mainly a reflection of the migration of low-profit categories from
1P to 3P, together with greater rationality in pricing and investment in
marketing on the digital platform”, explains the retailer.
The net financial result was negative at R$2.186 billion in the first nine months of 2023, a reduction of 45.7% on an annual basis.
General and administrative expenses were R$4.1 billion in the period, a reduction of 7.5% in the annual comparison.
Rising debts
One of the most anticipated numbers by analysts is the retail chain’s debt. At the end of the third quarter of 2023, net debts totaled R$33.443 billion, an increase of 10.6% compared to September 2022. Gross debt totaled R$38 billion. Debt, still at high levels, tends to be “relevantly reduced” with the implementation of the Judicial Recovery Plan, states Americanas.
The company’s cash flow, which almost reached zero shortly after the discovery of the hole, ended September at R$4.929 billion, a drop of 49.5% in 12 months.
“Today we can already say that we have overcome the most critical phase that Americanas has gone through”, states the command of Americanas in the balance sheet.
(with Estadão Conteúdo)