Brazil · Delayed Price · Currency is BRL Americanas Earnings Call Transcripts
Fiscal Year 2026
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Strong operational improvements and double-digit sales growth were achieved, driven by a shift to an integrated, store-centric model and robust event-driven retail. Despite ongoing judicial recovery, cash flow and margins improved, with significant fiscal credits and new business initiatives supporting future profitability.
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Strong year-over-year growth in revenue, digital sales, and operational efficiency led to a positive adjusted EBITDA and improved net results. Strategic store sales and digital transformation are reducing debt and positioning for future growth.
Fiscal Year 2025
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Exited judicial recovery after two years, achieving a net cash position and positive net result. Operational transformation drove 7.8% same-store sales growth and margin improvement, with new store openings and digital expansion supporting future growth.
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Revenue grew 1.4% to BRL 8.6 billion and same-store sales rose 10.1% year-over-year, with adjusted EBITDA improving by BRL 215 million. Operational efficiency, cost reduction, and digital transformation drove results, while the company targets exiting judicial recovery by early 2026.
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Consistent operational and financial improvements were achieved, with strong physical store growth, improved margins (excluding one-offs), and a successful debt restructuring. Liquidity exceeds debt, and the company is focused on sustainable growth and customer-centric strategies.
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Q1 2025 results were heavily impacted by the Easter shift to Q2, but same store sales grew 14.2% year-over-year for the first four months. Operational improvements, cost reductions, and new initiatives like the Galeria project and credit card support the transition from restructuring to growth.
Fiscal Year 2024
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2024 saw a major operational turnaround, with physical retail driving growth and profitability improvements despite a drop in digital sales. The company nearly eliminated adjusted EBITDA losses, reduced debt, and ended the year with a net cash position, while advancing its omnichannel and restructuring strategies.
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Q3 2024 marked a turnaround with positive equity, net profit, and improved margins following a major debt restructuring. Brick-and-mortar sales grew strongly, while digital declined as part of a strategic shift. Operational and financial efficiency gains are evident, with further improvements expected.
Fiscal Year 2023
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Judicial recovery and capital restructuring drastically reduced debt and restored financial stability. Physical retail now drives growth, with improved margins and operational efficiency, while digital is downsized for profitability. Net assets turned positive, and guidance is paused pending further review.