The following is a summary of the Companhia Brasileira De Distribuicao (CBD) Q4 2023 Earnings Call Transcript:
Financial Performance:
Companhia Brasileira De Distribuicao reported Q4 revenues of BRL5.6 billion, up 6.3% from Q4 2022.
Gross profit stood at BRL1.3 billion, indicating a profit margin of 25.7%.
Adjusted EBITDA was BRL404 million, with an increase in margin by 1.8 percentage points.
There was net income improvement by BRL185 million, mainly due to better operating results.
Net debt reduced to BRL2.3 billion, indicating successful financial deleveraging.
Business Progress:
In terms of expansion, the company opened 61 new stores in 2023, including 12 in Q4.
E-commerce sales witnessed a significant 20% increase, reaching BRL538 million for the quarter, driven by the successful implementation of a ship-from-store model.
There was a 14.6% sales increase in the gas stations segment, and a 2.9% market share increase in the Proximity format.
The company reported improved customer communication and relaunched the Mais program, leading to a 9.5% increase in premium customers.
Sustainability and social impact initiatives made notable progress, including a 10% reduction in Scope 1 and Scope 2 emissions.
More details: Companhia Brasileira De Distribuicao IR
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