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Financial News: PAO DE ACUCAR: Net Profit Rises To R$

PAO DE ACUCAR: Net Profit Rises To R$ 526 Million Boosted By Assal Stores

07/24/2018 - 18:46:00 (RTTNews)

(RTTNews) - Brazilian retail group Pao de Acucar's net profit grew more than four times in the second quarter from a year before, to R$ 526 million. Net revenue rose 10.4% in the same comparison and totaled R$ 11.8 billion.

Net profit at the Food Business, which includes results from retail operations and from the wholesale division Assa?, more than doubled in the second quarter, to R$ 476 million.

Net profit at Multivarejo, which accounts for markets, gas stations and drugstore from the Pao de Acucar and Extra brands, fell 36.6%, to R$ 64 million, while net profit at the Assa? wholesale division rose fourfold, to R$ 412 million.

Pao de Acucar's EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) grew 50.7% in the second quarter from a year before, to R$ 972 million. The EBITDA margin rose 230 basis points, to 8.3%.

Pao de Acucar's adjusted EBITDA, which excludes nonrecurring gains and losses, grew 28.3% in the second quarter from a year before, to R$ 648 million. The adjusted EBITDA margin rose 80 basis points, to 5.5%.

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