Via Varejo S.A. Reports Unaudited Consolidated Financial Results for the Second Quarter and First Six Months of 2016
July 25, 2016
Share
Via Varejo S.A. reported unaudited consolidated financial results for the second quarter and first six months of 2016. For the quarter, the company reported EBIT of BRL 176 million, EBITDA of BRL 229 million, loss before income tax of BRL 84 million and net loss of BRL 89 million on net sales of BRL 4,338 million against EBIT of BRL 186 million, EBITDA of BRL 245 million, loss before income tax of BRL 1 million and net loss of BRL 9 million on net sales of BRL 4,324 million for the same period of last year. Net sales were supported by the resumption of total and same-store sales growth in the quarter of 2.6% from 2015, driven by the implementation of strategic projects, competitiveness strategy and solid operating performance delivered by the mobile phone and service categories.
For the six months, the company reported EBIT of BRL 240 million, EBITDA of BRL 347 million, loss before income tax of BRL 57 million and net loss of BRL 80 million on net sales of BRL 9,042 million against EBIT of BRL 648 million, EBITDA of BRL 761 million, income before income tax of BRL 373 million and net income of BRL 231 million on net sales of BRL 9,712 million for the same period of last year. Net cash used in operating activities was BRL 3,383 million against BRL 758 million for the same period of last year. Acquisition of fixed and intangible assets was BRL 59 million against BRL 178 million for the same period of last year.
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.