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GPA's profit grows more than tenfold in the 1st quarter
- Net revenue grew by 2.3% year-on-year, reaching R$ 10.07 billion. This amount includes the operations of GPA Brasil Alimentar and Grupo Éxito.
05/05/2022
GPA's net profit attributed to the controlling shareholders grew more than tenfold in the first quarter of this year, reaching R$ 1.39 billion, compared to a profit of R$ 113 million in the same period of 2021. This figure includes the consolidated results of GPA Group, including operations in Brazil and the Colombian Grupo Éxito.
GPA explains that from January to March, they concluded the transfer of exploitation rights for an additional 40 commercial locations to Assaí, related to the sale of Extra Hiper. As a result, the net profit from discontinued activities totaled R$ 1.51 billion in the period.
Net revenue grew by 2.3% year-on-year, reaching R$ 10.07 billion. This amount includes the operations of GPA Brasil Alimentar and Grupo Éxito.
Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) amounted to R$ 655 million, a decrease of 12.2% compared to January to March 2021. The adjusted EBITDA margin decreased by 1.1 percentage points to 6.5%.
Source: Valor Econômico
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