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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