Via Varejo S.A. Announces Unaudited Pro-Forma Earnings Results and Audited Earnings Results for the First Quarter Ended March 31, 2017
April 25, 2017
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Via Varejo S.A. announced unaudited pro-forma earnings results and audited earnings results for the first quarter ended March 31, 2017. For the quarter, on pro-forma basis, the company reported net sales of BRL 5,993 million against BRL 5,843 million a year ago. Earnings before interest and taxes - EBIT were BRL 226 million against loss of BRL 123 million a year ago. Earnings before income tax was BRL 86 million against loss of BRL 237 million a year ago. Net income was BRL 97 million against loss of BRL 237 million a year ago. EBITDA was BRL 308 million against LBITDA of BRL 55 million a year ago. Adjusted EBITDA was BRL 329 million against BRL 35 million a year ago.
For the quarter, on audited basis, the company reported net sales of BRL 5,993 million against BRL 4,704 million a year ago. Earnings before interest and taxes - EBIT were BRL 226 million against BRL 64 million a year ago. Earnings before income tax was BRL 86 million against BRL 27 million a year ago. Net income was BRL 97 million against BRL 9 million a year ago. EBITDA was BRL 308 million against BRL 118 million a year ago. Adjusted EBITDA was BRL 329 million against BRL 158 million a year ago. Net cash used in operating activities was BRL 3,172 million against BRL 4,233 million a year ago. Acquisition of fixed and intangible assets was BRL 88 million against BRL 23 million a year ago. The net cash flow was largely due to the positive effect of the recovery in consolidated operating cash flow in first quarter of 2017 (positive EBITDA of 5.5%), the positive effect of the company's working capital dynamics of BRL 957 million, and the negative effect of the payment of a loan related to the transaction with Cnova N.V., in the approximate amount of BRL 588 million.
Grupo Casas Bahia SA, formerly known as Via SA is a Brazil-based company engaged in multichannel retail of consumer electronics and furniture. The Company operates in the consumer electronics, home appliance, mobile phone and furniture retail segments through Casas Bahia and Ponto Frio banners, as well as through the e-commerce platforms: pontofrio.com, casasbahia.com and extra.com.br. The Company has over 1000 stores and is present in more than 20 Brazilian states. In addition, it owns Bartira, a furniture manufacturer, that makes furniture for bedrooms, kitchens and living rooms, among other things, which are sold exclusively at Casas Bahia and Pontofrio stores. The Company provides also financial services, such as consumer finance, through credits and co-branded credit cards.