O GPA 🇧🇷PCAR3) released this Wednesday (7) the goal of reaching the profit margin before interest, taxes, depreciation and amortization (EBITDA) adjusted between 8% and 9% in 2024.
The company said in a material fact that the margin growth is mainly backed by three lines of the result: increase in the commercial margin, reduction in the level of breakage and greater dilution of corporate expenses.
In 2021, GPA had an adjusted Ebitda margin of 7.4%, while in the third quarter of this year the indicator was 6.3%. In the period, the group’s total sales advanced 9.5% compared to 2021.
The goal is in line with the company’s estimate, which was announced in September of this year, to open 300 new stores by 2024.
The president of GPA🇧🇷 Marcelo Pimentel, said that the company’s mission is to make Pão de Açúcar once again the premium supermarket in Brazil. The executive says that GPA is the only group capable of doing this through capillarity, with more than 190 well-established stores in this format.
“We saw it as an opportunity to form an extension, with Minuto Pão de Açúcar. The model is to be in class A and B neighborhoods, which customers can reach in 5 minutes on foot”.
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Source: Moneytimes
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