Good morning. It's a great pleasure to show the results, very strong results. Our objective is to get into details. I will show some qualitative aspects. Gustavo then will provide you the financial data. This slide shows you the results of the semesters. First, our growth. We had BRL 1.90 billion of gross revenue. That is 82% in relation to the second quarter of last year. I'd like to highlight that we are in a constant growth. in 2020, we increased 77% in relation to last year, and now 82%. As we always do, we will break this growth into the three main pillars of the company: distribution, digital retail, and retail. We need to highlight that this division is to make it easier what we do, but the three areas are intrinsically connected. Distribution, 78. Digital, 62. B&M Retail, 323.
Before going into details, I'd like to go to the profit. EBITDA accounts for 250% of the growth. More important than that, last year we had a 4.2% EBITDA in last year, and this year, 8%. It was a great impact of the EBITDA was due to the return of the physical stores. Last year, we had the pandemic's effect in São Paulo, in the southeast, where we have most of our physical stores. The pandemic started on March 16, so April suffered a great deal. So the return of the physical stores help us. As we sold more, it brought more importance to the significant EBITDA. Net income, we grew more than 9x . We are always talking about the recurring EBITDA, recurring net profit or net income, but we have not considered the gain we had in the base, the PIS/COFINS, ICMS tax lawsuit.
The net income grew significantly. Last year was 1.1%. Now is 4.9%. Gustavo will go into details, the reasons for that. Last year, we had significant financial losses. We did this to protect our cash when the pandemic was starting. We also had the provisions of point of sales for clients that we thought could have some problems. We had 11.8 million products sold. This is the last 12 months. Now we have 276 POS, and this number has increased. Our NPS reached 85%. It's hard to get such a high number in any retail. We had 30 marketplace stores. I'd like to start talking about distribution. In distribution, I'd like to give you some details. In distribution, we bought from the manufacturers, and we sell to the mid and small size retailers. We sell cell phones, smartphones, white line.
The largest category is this smartphones market, and I will focus on it. The average sell-out of smartphones, the market in the second quarter grew 14% in volume and 18% volume in average ticket, accounting for a 35% increase in value of the smartphone market. I want to make a comparison. The average ticket of the market grows 18%. We grew in 46%. So we brought sales quality to our distribution. In the results of the first quarter, we told you that we were following the strategy to increase our volume of Galaxy S21 because of the supply problems we had in the market, and we benefited from the increase of this product. These are premium products that leads to a higher average ticket. We also grew in volume more than 1 percentage point market share. Basically, this is the most important driver of the growth in distribution.
I would like to highlight two areas. It is in the next page. We told you that we are betting on two categories, and distribution will come through the increase in sales, but also the increase in categories that we put to distribution. We sell already for more than 1,000 retailers, and we can offer other products. The two categories are smartphones and white line. in the second quarter, in smartphone, we sold 90,000 items, almost BRL 11 million in profit.
Basically, with six manufacturers. i2GO with smart lamps and sockets. We had the digital locks, security cameras, and we continue with this with exclusive products in Brazil. In the white line, we are starting to consolidate our presence in this category. This is a very important category because this market is equivalent to the smartphones market in Brazil. The second quarter with 12,000 items sold, almost BRL 11 million in revenue.
Two manufacturers, Whirlpool and Midea, for small and big items, freezers, microwaves. So we are betting on these categories, and they are getting more and more mature. On the next slide, we can see our physical retail. This is still important in our strategy. Since this is the line of business that most suffered during the pandemics, this is very important for our omnichannel strategy. We add 10 point of, POS of Samsung and four of other store, Giga. In Samsung, we had six POS of a partner that we acquired. This partner had the Santos Costa region. And this region now, we have the priority of their actions in Samsung. So it is a new geographic for us. In Store in Store , we add six new operations in existing partners, but we brought a new brand, Giga Atacado. Two operations with this new partner, a new growth pathway.
Going to the next slide. This is what make us proud of. We reached 85 points for the NPS. Very few retailers can be proud of this. As you saw in the first page, our total growth is of 326%. But we are comparing here against 2020. That was a moment that the B&M retail suffered most, especially for us who have a strong presence in the Southeast. Now, going to digital. Before digital retail, I would like to talk about the omnichannel strategy. This is the link we have between our two line of business, digital and B&M retail. We continue to strong invest 7% of our sales in the B&M came from the omnichannel strategy, and we believe we have a competitive advantage here.
First, because we have already 276 POS in 17 states, what makes it possible to sell online and deliver in any of these stores, or deliver from these stores in a very short term. Secondly, we have a distributor with a portfolio of products that is wide and deep, and also we have five distribution centers in Brazil. This is a good logistic. We are the first seller with VTEX that implemented the omnichannel strategy in the Brazilian market. All big players have this, but with 3P, we are pioneers in this solution. We have today Click & Collect. You buy on the Mob com that are in Mercado Livre, and you can take in any of the 110 points, we Ship from Store, you buy on Mobcom, you are inside Magalu or Mercado Livre, and you receive at your home within three hours.
These B&M retailers sell also insurance, accessories, wearable. It is easy to take the Click & Collect consumer to our POS, allows us to sell this. In addition to this, Ship from Store, Click & Collection options, we can sell through WhatsApp. We have the delivery center. Delivery center delivers at your home, and your user, the phone can be used as part of the payment. We have the Rappi. They locate the store closer to you, and we have the drive-through pickup. This is very important. Even during the pandemic that we have in most of the stores open, we keep the drive-through pickup open. Omnichannel is the linking between both types of retail. Now, some highlights. First, as we mentioned, digital retail will be more relevant in our portal with no detriment to the other categories.
The distribution for 78%, but even though in the digital retail, increases its relevance and goes to 62% of total retail. In digital retail, we have three big line of business. Our store, Mobcom. We have the program iPhone Forever, and we have the sales of services of operators plan and funding, financing. We reached this quarter, 30 marketplaces, always adding stores with Google, Apple, [HyperX], or Mobcom, and more and more marketplaces in Brazil. I will go to point three, the average ticket. In our digital retail, we reached BRL 3,133 BRL of average ticket. As a reference, in the second quarter, the Brazilian average ticket was BRL 200. So our average ticket is more than the double of the Brazilian market. Let's make a fair comparison. We have the iPhone Forever program.
If we take iPhone Forever from our digital retail, our average ticket goes to BRL 2,434, 84% above the market average ticket. So we are bringing sales volume with 62% growth in digital retail, with quality of sales, average ticket at 59% above the market, and a quality of service. Once again, we have RA1000 in Reclame AQUI, which means the 1,000 best companies in the market, both for Allied and Mobcom brands. In service sales, our platform as SAV, our financing platform to finance to give credit to the consumer, we increased 9% of our sales is through this financing platform. What is important, we are present in 220 POS, and this solution was created to this store, but we have only 160 Samsung store. So from 160 to 230, is that because we started to use this in the stores of other partners.
All Samsung stores in Brazil have access to this. Our platform, Soudi, is important to highlight. This is a platform where we put in the hands of the retailers to facilitate the sales of smartphone plans. We having a package, all the plans of all operators, we put in one single app, and this facilitate the sales of phone plans. We have presence in Carrefour, Magalu, Samsung stores. In the first quarter, we said that we're entering Lojas Americanas.
With this, we have more than 5,000 POS with this platform installed. The number of plans sold double in relation to last year, but more important is that this platform will offer other services to the retail. In the future, we can offer insurance, a solution in the platform, a credit. So it's a platform that is in the initial phase, but it will be a greater growth driver. These are the highlights I would like to mention with our three pillars, both for digital and B&M retail. Now, Gustavo will talk about financial results.
Thank you. Now we will talk about the financial details. We are happy to show the second quarter very strong. We were successful in our strategy. This is a company that we say that our mission is to take the digital universe to all. Our digital universe is becoming more and more complete, but we know that we have smartphones, tablets, and computers, but we have a very broad portfolio available to everyone with more than 3,000 retail clients. We have 30 e-stores in marketplaces, so we combine the reputation we have with the manufacturers, with all the capillarity we have to take the products to the Brazilian consumers. We have been very successful. I will go quickly in these figures.
The revenue of the company grew 82%, the accumulated was 60%. The gross revenue of the profit of the company goes from BRL 120 million last year, and I will show you how we can get to this BRL 220 million, and the net profit is very strong. This is a combination of more sales and more products, expansion of our retail, but also the company has a leverage capacity that is very strong. We will change now the slide, and this is for distribution now. Our distribution, we mentioned this already last quarter. In a moment where there are still uncertainties in the market, whether for demand and supply of the ships and chips and components, Allied, due to its reputation, has been privileged, and we were able to offer to our consumers the best digital portfolio.
We reached the first semester, more than BRL 2 billion of revenue only in distribution, and the gross margin is about 10.9%. So we follow in a very good period, in a very good position. On the right side of the page, there are two things to highlight. First, this is translated in higher volume of products sold with the 12 months closed in July last year of approximately 7 million, and now 10.6 million. In the bottom part, I do not know if the graph is clear to everyone, the line represents the percentage of products, non-mobile, that are not smartphones and tablets. As of two years, we are reducing the participation of these products because we are diversifying. But the bars means the selling of these products, 100 is the first quarter of 2019. If you look at this is very interesting.
We are in a period as the mobile distribution was mostly sold, and even though we were able to diversify, this shows that what is not mobile has also grew very significantly. Well, after talking about distribution, let us see the retail. On the left, we show that our retail grew 111%. Last year, we had much more restrictions. We lived with the experience of this restriction in São Paulo and Rio this year. We have the red phase in São Paulo and Rio, but we were based on the maturation to make our B&M retail to flourish. So our retail basically doubled, going to BRL 600 million. Our digital value retail grew 63%. In one year, it doubles, and the B&M retail also double quarter- to- quarter.
It is nice to see that last year many retailers were in an embryo phase, and this was important for us to promote the sales through different channels. We are very happy that with this return, the retail was returned to growth. Now, digital retail, we are increasing our sales. This quarter specifically was a very strong volume. We had Samsung launches and Apple that we were imagining. Our average ticket grew 40% in this period, combined with the expansions of new stores that we are promoting. On the right side, we show the number of cards activated in our physical stores. The variation between the first quarter of 2021 and the second was the largest variation, 5,500 clients got the credit from us, and we are starting to see more flow, our personnel best trained, and we see the results coming.
We are very happy to see that this penetration of the service accounts for about 9% of our sales in the B&M retail. In the first quarter of this year was 6%, so it increased. We have more than BRL 20 million, and in the year, 47.7%. We still have room to grow, to train the teams, and provide different services. We are working on many things. Maturation is what is obvious, but also services. In the next slide, we talk about B&M retail. Again, in the second quarter is still with the restrictions, but not so severe as last year. The B&M retail returns the sales, but very slowly. We follow our strategy of increasing capillarity, new POS. We opened 10 POS for Samsung, so we continue increasing our geography, paying attention, and caring for service. Nothing new, but we still have a lot to do.
On the next slide, these are some figures, but the main message about our EBITDA, we mentioned more sales in all channels, different products. We keep a positive profitability with a very interesting gross margin between 14%-15%, and the accumulated over the year, 15%. But as we have more products to sell on the same POS and digital stores for the national retail, we will get a very significant operational advantage. The margin we bring is radically superior. We keep our efforts of efficiency that was very significant in the first quarter. This is our recurrent practice. Silvio mentioned that in this quarter, we had the impact of this fiscal things base tax return, and this will bring improvement in cash in next period. In this slide, we have our indebtedness. Our net debt is low.
We still have room to invest in here, but we have a low CapEx. We invest in operating capital, but operational capital. But two important points when we look to our financial statement, we reduced the inventory in the first quarter. We have a slightly higher than the historical, but we reduced the BRL 200,000. And a strategy that we are doing is the optimization or the combination of the optimal logistic route and the tax structure of every product. So when we sell to the end user or the retailer, this product lives with the profitability that our margin is not impacted in tax to be returned. When we compare these quarters, we generate about BRL 56 million in cash for the company.
It is a very detailed planning in our company involving several areas, and we are careful to make this a cash generator, opening new kiosks, investing in technology. This is the path we have to follow to guarantee that we do not lose cash and invest this in our growth, bringing profitability. In summary, we close the quarter very happy with our position, very satisfactory, and we will work to bring more novelties next year.
Thank you, Gustavo. Now we will start the Q&A session. We have some questions already. If you want to ask a question, please send it through the chat. What we are unable to answer today, we will send the answer. Alessandra, she is congratulating us for the results, and she is asking about the performance of a product. Thinking about computers and smartphones, did you notice any difference in performance between the digital retail? What are your expectations for the second half of the year? Silvio, please.
Thank you, Fabi. Alessandra, thank you for your question. I will try to answer your question. First, among computers and smartphones, if you look to the distribution and digital retail, the difference in performance was the result of what happened in the market and from our strategy of increasing the inventory of smartphones. First, the market. The smartphones market is over 47 million market, and computer, BRL 10 billion . Computers are increasing much more than smartphones because the working from home effect apparently is becoming longer than we imagined. In the beginning of the pandemic, we thought only about one wave, and everybody would return to the offices. It is not. We have a great demand of computers to work better from home.
Smartphones have a very similar performance, both in retail and distribution, as well as computers. The point is the knowledge of our strategy to increase the volume of our inventories of two items of smartphones, Galaxy S21 and iPhones, high-value items. If you look to our results in smartphones and computers, smartphones grow more because our average ticket grew a lot. This was the strategy that we followed in the first quarter, and it was successful, and we used in the second quarter. Now you asked about the expectations for the second half. In the beginning of the year, I was talking to Magalu, and I do not know how to make any projection. We will do quarter- by- quarter, and we continue with all uncertainties of this pandemic.
If the market will come full or not, if we will have a third wave or not, if the B&M retail will come back or not. Since the pandemic started in March last year, we faced supply problems. It was a card castle that disappeared. The producers in Asia stopped producing, and then we had a demand high above we expected. In the second half, I see greater supply stability than we had until now. I start to see the computer industries supplying more the smartphones, depending on the brand, but we see a most regular supply, and this will help a lot in the results of the second half. We also bet on the return of the economy because of the vaccination rate. We have the possibility of people to circulate. This is an important factor. Up to now, we are optimist for the second half.
We are in August already. We haven't seen any problems in demand, so we are optimist. The point here, Alessandra, is the second half of last year was really strong. Now we have two quarters with a very high comparison base. I think that we will have lower growth numbers to everybody, except for the sales volume, if it grows. That's it, Fabi.
The next question is from Pedro. I will direct to Gustavo. What do you reconsider of repurchase?
No, we don't have a plan of repurchase or rebuy approved, so the answer is no.
Now, a question to Silvio. Two questions about the same subject. Recertified phones, what is the Allied position?
This is important. Among the future growth drivers, we identified that the recertified market is important because it has a growth trend in Brazil. Brazil accounts only for 7%. If you go to the U.S. market is more than 20%. We will be part of this. We already do the recertification. All products that have any problems in this first seven days, we get these products back, we recertify, and we sell it in the market as recertified.
Now what we are doing is to get prepared to a wider board of recertification products. The iPhone Forever program means that you buy more and after 21 months, you have the choice of paying a greater portion to keep the phone or return the phone to us. With this iPhone Forever program, we are in the recertified program. We started this last year in August, and we started to receive a significant amount of iPhones, which are very important to the market. In the supply part, this is already addressed.
We are creating a significant area in our distribution center in Jundiaí to be prepared to recertify more iPhones. With this, we can open to other brands. It is important because we are already doing in a small scale. We solved the supply problem with this iPhone Forever. We have market demand, and we are building a recertification area for a higher volume than we have today.
The next question is from João Andrade from Bradesco. Was there any relevant repass of price in this quarter? Silvio, please.
All electronic items. Despite they are mostly manufactured in Brazil. Brazil has some tax incentives that if you import, you are not competitive. Even though the components for most of the products, smartphones, TVs, since they come from few world suppliers, and they are backed by the dollar.
The exchange variation we had last year had a direct impact on the price of the products. I had noted here, the market, only the smartphone market grew in this quarter. 18% of average ticket compared to last year. This, since the market is getting mature, improving the quality of the products, but most of it is impacted by the dollar rate. The main point here that makes us optimistic with the market is if we look the total variation year-to-year, the dollar increased more than 160%. The prices increased over a year, but in volume, the market is still growing. You see the strength of this market, not only smartphones, but also computers. We have this exchange rate valuation impact, but the market is increasing. Two important markets that reflected this exchange variation. But in terms of volume, it is still growing.
The next question is for Gustavo. The question is from Leonardo: How the tax incentive reduction and the approval of the tax reform will impact the results?
This is a question that we had already the opportunity to answer in some of the interviews, but we have a law today that says that tax benefits of the wholesalers would finish by the end of 2022, and the tax benefits of the industry and retail would finish in 2032. This is what we have today, and we have a working plan for this. What happens is that we have a discussion today in the legislative wing to give the terms to finish it equal to the industry. The argument is that wholesale and industry are disconnected, and to make this change, it will bring an unbalance.
Part of the legislators are discussing to extend the tax benefit for more 10 years. This is what we have today, and we are waiting to see the direction we are going through. What about the results? Remember that Allied is 20 years old. The tax benefits exist for decades in the country, and we only took it at the end of 2017 when we understood there was no legal risk for that. We have five distribution centers, and only in one of them that we have a tax benefit in the state of Espírito Santo. When we got this benefit, the result was, it kept the margins at the historical level. What we were not able to have in the distribution, we started to have it because profitability levels were the same as some of our competitors.
Since 2018, the rules are the same for all of us. If the fiscal tax benefit is approved, the players who will win will have more agility, a great variety in portfolio, quality in post-sales, a better trained team. Remembering that this is for distribution. If everyone is following the same rules without tax benefits, I believe that we will have an advantage here because the other competitors have 100% of their revenue linked to these benefits, and when these benefits are gone, they will lose. I hope I have answered your question. It's a complex question, but if you want more details, I will give them.
The next question is to Silvio. It comes from Thiago, also congratulating us for the results. How are the white label projects and the perspectives for M&A?
White label, we have already an initiative where we develop a product line of accessories for IT with Mercado Livre, with their label. We launched this in the second semester, and we've been successful with this line. Mercado Livre is interested in extending this beyond what we've done. I will link this perspectives for future white labels. We are analyzing several market opportunities. Some of them are related to companies that will be able to bring white label solutions faster than using our own or developing our own. We still don't have anything defined, but we have several opportunities being studied. All these opportunities are basically in these white label markets, recertification market, the corporate market, that are different from what we have. Regardless, M&A, we are already working on this. The corporate market is selling to government, sales to education.
Well, we do not know if an opportunity of M&A will come to accelerate this. Many things are under study and the focus is on companies that will allow us to have a white label recertification and the corporate market.
The next question is to Gustavo. Pedro asks about the debt schedule and the cost.
Okay, I will give you some details. In our financial statements, you will find much more details about this. Today, we have two debentures of BRL 9 million. Of them, almost BRL 40 million that will be settled in the next half with a 118% cost of the CDI, and we have another debenture of BRL 340 million with three years to pay, and the cost of this debenture is CDI + 1.6%. This is a debenture with a longer grace period, and it goes to December of 2024.
Now we have a question from Alessandra. It is to Silvio. Can you elaborate on the adherence to the iPhone Forever?
Well, we launched this program in August last year. The success was much higher than we imagined, Samsung or Apple or us, and this program is based on the launching of these products. The adhesion was very, very big since September last year when iPhone 12 was launched. After this, the adhesion decreased. For Mother's Day, we launched the purple iPhone and adhesion increased, and now the next peak will be for iPhone 13, and we are thinking on how we can foster this more. This is expected adhesion. It would be seasonal, and it is, but I would bet that this is one of the major sales channels for Apple in Brazil.
The next question is to Silvio. What was the main driver for the increase in the average ticket?
Well, certainly it was, well, let me. Let's start again. Since the beginning of the pandemic, we are facing a limited supply from manufacturers. When we open the newspaper and we see what the car manufacturers are suffering, we suffer less than that. But we do have a lack of supply, and I want to use a filter here because the computer market is increasing almost 100% and we still feel a lack of supply. It means that we have room to grow even more. Anyway, that is the situation. What we did in the first half, and since we are in the market for 20 years, we had a privileged position with the manufacturers, with the suppliers. We saw three retailers buying from us, and usually they would have bought from the manufacturers themselves.
We have a good position, but we also kept an eye on where we could see opportunities for the inventory because of the supply variations. In the first quarter, we saw opportunities to increase Galaxy S21, which is the launching of Samsung, the top product, BRL 8,000. But these are products that had at least one year of life. We had the opportunity of increasing the inventory of several iPhone models also with a long life cycle. If you look to our smartphone sales by SKU, this was distorted above for Galaxy S21 and iPhone, we sold a higher proportion because we had it available. This was the main growth driver.
Now we have a question from Marcelo. Silvio, can you elaborate about the contract with Samsung term price definition?
Well, I think you were asking about Samsung stores. We have a contract with Samsung, a five-year contract, and it's a purchase and sale contract. We are obliged to follow Samsung's identity. They provide us a suggestion price to the market, and due to excellent commercial relationship we have, we always work together. Any sell-out problem, they always helped us to solve. If you go to a Samsung store today and you buy a Galaxy S21, well, first you find all possible models with all memories, colors, and accessories.
With a different service, of course, because this is the function of the Samsung store. We are very competitive with accessories as part of the package or trade-in. We pay more for your used smartphone. The contract requires visual identity and our commercial relationship. The product is there, but we are obliged, being Samsung our great partner, to have all the launches in the store. We always follow the price suggestions from Samsung. The commercial partnership is much stronger than the contract we have between us.
Well, I think that's it. We still have some other questions, but then we can answer this individually. We have already one hour of call, and I think it's time to close. So on behalf of we three, I'd like to thank you for your attendance. If you have any questions, you can contact me through the RI. That's it. Thank you for your participation and see you in the next call. Thank you very much.