GRUPO CASAS BAHIA S.A. Q1'24
RESULTS
MAIN MESSAGES - Q1'24
NEW SOURCES | IMPROVEMENT | PROFITABILITY | CASH FLOW | TRANSFORMATION | CAPITAL |
OF REVENUE | IN MARGINS | OF THE ECOSYSTEM | PLAN | STRUCTURE |
Transportation | Gradual improvement q/q | 3P | Free cash flow |
(open sea) | GMV +10% | Lowest Q1 consumption | |
Revenue +84% y/y | Gross margin | Revenue +13% | in the last 5 years |
30.0% in Q1'24 | |||
Multimarketplace | (vs. 27.6% in Q4'23 | Bartira | Tax monetization |
Fulfillment | and 23.0% in Q3'23) | (Furniture factory) | +R$ 203 MM in |
Revenue +14% y/y | Profit in Q1'24 | net impact | |
Expense discipline | on cash | ||
Casas Bahia ADs | -7.6% y/y | banQi | (vs Q1 consumption |
# of Advertisers +7X | (Fintech) | in the last 4 years) | |
EBITDA margin | close to | ||
Service penetration | 6.1% in Q1'24 | Breakeven | Labor |
15% (+3 p.p.) | (vs. 2.2% in Q4'23 | Lowest Q1 consumption | |
Revenue +10% y/y | and -1.0% in Q3'23) | in the last 4 years |
Capturing implemented
initiatives (expense
reduction, mix, and more
profitable channels)
New opportunities
New pricing tool
New tool to boost store and marketplace sales
Important progress in the
store profitability optimization plan
2
Re-profiling of
R$ 4.1 BN of debt
Increase in
average time
from 22 months
to 72 months
Reduction of average cost (-1.5p.p.)
Cash preservation
R$ 4.3 BN by 2027
OMNICHANNEL
OMNICHANNEL - Specialist Positioning
Store: reduction by the closure since 2023 of 57 stores with a negative contribution margin
1P online: discontinuing unprofitable categories and reducing incentives in the B2B channel
3P online: GMV growth, absorbing category migration and maintaining profitability (+13% in revenue)
1P GMV BRICK-AND-MORTAR
R$ BN | Market |
Share |
Leader
-10,7%
6,1 | 5,4 |
Q1'23 | Q1'24 |
1P GMV ONLINE | 3P GMV | 3P REVENUE | |||||
R$ BN | R$ BN | R$ MM | |||||
-22,0% | +9,6% | +13,1% | |||||
3,4 | 198 | ||||||
2,7 | 1,6 | 175 | |||||
1,5 | |||||||
Q1'23 | Q1'24 | ||||||
Q1'23 | Q1'24 | Q1'23 | Q1'24 |
Sustainable online share gain in all core categories combined with a focus on profitability
HOME APPLIANCES | PHONES AND CELL PHONES | TVS | COMPUTING | FURNITURE |
+0,1 pp | +2,1 pp | +0,7 pp | +0,7 pp | -0,4pp |
Q1'23 | Q1'24 | Q1'23 | Q1'24 | Q1'23 | Q1'24 | Q1'23 | Q1'24 | Q1'23 | Q1'24 |
4
Source Online Market Share: Confi. Neotrust - GMV online 1P and 3P | Offline Market Share: GFK
INNOVATON
MEDIA ECOSYSTEM
Special
Projects
Off-Site
Physical
Store/
OOH
THE MOST COMPLETE MEDIA ECOSYSTEM IN BRAZILIAN RETAIL | |
Performance | From online, social, CRM, off-site, OOH media, in-store activations, radio to |
(Storefront) | proprietary data and highly actionable insights for advertisers, from big |
brands to Marketplace sellers. | |
Branding | |
All this on a single self-service platform offering a truly highly efficient | |
omnichannel solution for customers. |
+608% | +15% |
TV | Revenue* |
Advertisers | |
Q1'24 q/q | Q1'24 q/q |
+20% | 32% | |
Social | Average ROI | |
GMV traded | ||
Data | Q1'24 q/q | of advertisers |
*Platform revenue
6
LOGISTICS
LOGISTICS
Expansion of new sources of revenue and profitability improving delivery times
New
Novas
sources
fontes de of
revenuereceita
Fulfillment | |
Multimarketplace | |
# Clients | Revenue |
+12% | +14% |
Q1'23 | Q1'24 | Q1'23 | Q1'24 |
Transport
(to non-seller third parties)
# Clients | Revenue | |||
+53% | +84% | |||
Q1'23 | Q1'24 | Q1'23 | Q1'24 |
Greater
Efficiency
=
Lower
delivery
time
Reduction in delivery timeacross all services
Marketplace | Marketplace | Fulfillment | 1P Grupo Casas Bahia | |||||||
Deliveries not managedby | Deliveries managedby | |||||||||
Grupo Casas Bahia | Online and Offline | |||||||||
Grupo Casas Bahia | Grupo Casas Bahia | |||||||||
-16% | -15% | -20% | -21% | |||||||
Q1'23 | Q1'24 | Q1'23 | Q1'24 | Q1'23 | Q1'24 | Q1'23 | Q1'24 |
8
FINANCIAL SOLUTIONS
FINANCIAL SOLUTIONS
Installment Plans: sales leverage, profitability and default under control
Active Portfolio Evolution
(R$ BN)
5,2 | 5,6 | 5,7 | 5,5 | 5,4 | 5,3 | 5,3 | 5,4 | 5,3 | |||||||||
9,0% | 8,5% | 8,4% | 9,5% | 9,0% | 9,1% | 9,3% | 9,4% | 9,0% | |||||||||
Q1'22 | Q2'22 | Q3'22 | Q4'22 | Q1'23 | Q2'23 | Q3'23 | Q4'23 | Q1'24 | |||||||||
Active Portfolio* | Over-90Rate * Active Portfolio = Customers overdue for up to 180 days | ||||||||||||||||
Quarterly Net Loss | |||||||||||||||||
(R$ MM) | |||||||||||||||||
328 | |||||||||||||||||
183 | 256 | 5,8% | 252 | 241 | 261 | 249 | 239 | 199 | |||||||||
4,7% | 4,6% | 4,5% | 4,9% | 4,7% | 4,5% | ||||||||||||
3,6% | 3,7% | ||||||||||||||||
Q1'22 | Q2'22 | Q3'22 | Q4'22 | Q1'23 | Q2'23 | Q3'23 | Q4'23 | Q1'24 |
HEALTHY
DEFAULT
INDICATORS
ADA (Allowance for Doubtful Accounts)
(R$ MM) | ||||||||
626 | 624 | 658 | 627 | 611 | 601 | 601 | ||
595 | 587 | |||||||
12,2% 11,3% 11,7% 11,4% 11,3% 11,4% 11,4% 11,2% 11,0%
Q1'22 | Q2'22 | Q3'22 | Q4'22 | Q1'23 | Q2'23 | Q3'23 | Q4'23 | Q1'24 |
ADA Balance | ADA Balance / Active Portfolio |
Installment Plan Penetration
(% in Brazil's Municipalities)
71% | 76% | 78% | 79% | 81% | 84% | 84% | 90% | 90% |
Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24
Net Loss | Net Loss / Active Portfolio | 10 |
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Disclaimer
Grupo Casas Bahia SA published this content on 08 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 May 2024 22:50:06 UTC.
