Quarterly Information
Empreendimentos Pague Menos S.A.
March 31, de 2023
With Independent Auditor's Report on Review of Quarterly Information
Empreendimentos Pague Menos S.A. | |
Quarterly information - ITR | |
March 31, 2023 and 2022 | |
Table of Contents | |
Earnings release | 3 |
Balance sheet | 25 |
Income statement | 27 |
Comprehensive income statement | 28 |
Cash flow statement | 29 |
Statements of chance in shareholders' equity | 30 |
Statements of added value | 31 |
Accompanying explanatory notes to the quarterly information | 32 |
Comment on the behavior of business projections | 72 |
Independent Auditor's Report on the financial statements | 74 |
Declaration Company's Officers to the quarterly information | 77 |
Declaration Company's Officers to the quarterly review report | 79 |
EARNINGS
RELEASE
1Q23
Fortaleza, Ceará, May 8, 2023.
Empreendimentos Pague Menos S.A. ("Company" or "Pague Menos"), the main Health Hub of the Brazilian middle class, present in every state in Brazil and more than 380 municipalities, announces its results for the 1st quarter of 2023.
HIGHLIGHTS 1Q23
SALES GROWTH | SAME STORE SALES |
Gross revenue expansion of 9.7% in | SSS of 7.2% for Pague Menos and 6.5% |
Pague Menos standalone | for Extrafarma (ex-Covid tests) |
OMNICHANNEL SALES | CUSTOMER BASE |
Growth of 66.0%, reaching 12.5% of Pague | Consolidated active base of 19.9 |
Menos sales and 5.0% for Extrafarma | million customers, 28.4% increase |
MARKET SHARE | PRODUCTIVITY |
Organic growth above the market in | Growth in average sales per employee |
all regions except North | of 10.2% in Pague Menos standalone |
EXTRAFARMA SYNERGIES | ADJUSTED EBITDA |
Actions already executed resulted in | Consolidated growth of 3.8% and |
BRL 12.2 million in 1Q23 (BRL 48.6 | reduction of 5.9% in Pague Menos |
million on an annualized basis) | standalone |
02
EARNINGS RELEASE 1Q23
DISCLOSURE CRITERIA
On August 1, 2022, the acquisition process of Imifarma Produtos Farmacêuticos e Cosméticos S.A. (Extrafarma) with Ultrapar Participações S.A. (Ultrapar) was completed. With the completion of the precedent conditions and incorporation of the equity balances, Extrafarma was consolidated and became part of the consolidated financial statements of Empreendimentos Pague Menos S.A. (The Company) that same month.
In order to facilitate the analysis of the results, we will present the segregated operational data of Pague Menos and Extrafarma in this release, while the financial information is presented as Pague Menos "standalone" (ex-Extrafarma) and Consolidated (Pague Menos plus Extrafarma).
Since 2019, our financial statements have been prepared in accordance with IFRS 16, which changed the criteria for recognition of rental contracts. To demonstrate the effects of implementing this standard and facilitate comparability between periods, we present on page 18 of this release the Income Statement for the Year excluding the effects of IFRS 16.
FINANCIAL HIGHLIGHTS PAGUE MENOS STANDALONE
in BRL million and % of Gross Revenue | 1Q22 | 1Q23 | Δ |
Gross Revenue | 2,111.5 | 2,315.9 | 9.7% |
Gross profit | 625.2 | 669.4 | 7.1% |
% Gross Margin | 29.6% | 28.9% | (0.7 p.p.) |
Contribution Margin | 227.1 | 218.7 | (3.7%) |
Contribution Margin % | 10.8% | 9.4% | (1.4 p.p.) |
Adjusted EBITDA | 162.4 | 152.8 | (5.9%) |
Adjusted EBITDA Margin % | 7.7% | 6.6% | (1.1 p.p.) |
Adjusted Net Profit | 24.4 | (43.2) | - |
Adjusted Net Margin % | 1.2% | (1.9%) | (3.1 p.p) |
CONSOLIDATED FINANCIAL HIGHLIGHTS
in BRL million and % of Gross Revenue | 1Q22 | 1Q23 | Δ |
Gross Revenue | 2,111.5 | 2,813.2 | 33.2% |
Gross profit | 625.2 | 817.5 | 30.8% |
% Gross Margin | 29.6% | 29.1% | (0.5 p.p.) |
Contribution Margin | 227.1 | 256.5 | 13.0% |
Contribution Margin % | 10.8% | 9.1% | (1.7 p.p.) |
Adjusted EBITDA | 162.4 | 168.5 | 3.8% |
Adjusted EBITDA Margin % | 7.7% | 6.0% | (1.7 p.p.) |
Adjusted Net Profit | 24.4 | (55.3) | - |
Adjusted Net Margin % | 1.2% | (2.0%) | (3.2 p.p.) |
|||UNTRANSLATED_CONTENT_S | |||||
OPERATIONAL HIGHLIGHTS | |||||
TART|||DESTAQUES | |||||
1Q22 | 1Q23 | Δ | 1Q23 | ||
Operation / Indicator | |||||
OPERACIONAIS | |||||
Stores (units) | 1,169 | 1,271 | 8.7% | 376 | |
TED_ | CONTENT_END||| | ||||
Average Sale/store/month (BRL thousand) | 603 | 608 | 0.8% | 441 | |
Average Ticket (BRL) | 72.75 | 78.49 | 7.9% | 69.16 | |
Employees (quantity) | 20,055 | 19,673 | (1.9%) | 5,700 | |
Employees/store (quantity) | 17.2 | 15.5 | (9.8%) | 15.2 | |
Avg. Sale/Employee/Month (BRL thousand) | 35.2 | 38.7 | 10.2% | 29.6 | |
Omnichannel Share (% revenue) | 9.0% | 12.5% | 3.5 p.p. | 5.0% | |
Private Labels (% revenue) | 6.4% | 6.7% | 0.3 p.p. | 4.5% | |
Pharmaceutical Clinics (units) | 893 | 991 | 11.0% | 68 | |
03
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Empreendimentos Pague Menos SA published this content on 12 June 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 June 2023 22:31:30 UTC.