São Paulo, February 24th, 2016 – GPA [BM&FBOVESPA: PCAR4; and NYSE: CBD] releases its fourth quarter (4Q15) of 2015 earnings results.
Consolidated
– Net sales totaled R$ 19.7 billion in 4Q15 and R$69.1 billion in the year, led by resilient performance of the Food segment, which registered market share gain in the Assaí, Pão de Açúcar and proximity formats;
– The Company rolled out important initiatives to adapt to consumers’ needs: continued price competitiveness efforts and promotions, and adjustments to assortments;
– Thanks to yearlong initiatives to reduce expenses and increase productivity, selling, general and administrative expenses increased by just 5.1%, significantly lower than the inflation in 4Q15;
– Discipline in investments, with the focus on modernizing Extra stores and on organic growth in other formats with higher returns, such as Assaí and Proximity: 25 openings in 4Q15, for a total of 118 new stores in 2015;
– The Group’s sound financial position led to the solid cash balance of R$ 11.0 billion at the end of the year, despite the more restrictive consumption scenario. Net cash, including the payment book operation, increased 2.1 times from 2014;
– Net cash/EBITDA ratio, including the payment book operation, increased from 0.29 times in 2014 to 1.13 times in 2015;
– Gross debt maturity extended by 181 days compared to the prior year, accompanied by continuous reduction in leverage.
Click on the links below in order to access:
CONFERENCE CALL WITH WEBCAST
February 25th, 2016
10:00 a.m. (Brasília time) | 8:00 a.m. (NY) | 1:00 p.m. (London)
Conference in English (simultaneous translation)
+1 (646) 843-6054
Webcast: click here.
Conference in Portuguese (original language)
+55 (11) 2188-0155
Webcast: click here.
Replay: +55 (11) 2188-0400
Access code for audio in English: GPA
Access code for audio in Portuguese: GPA
The conference call will also be available in audio format on http://www.gpari.com.br/.
Please dial in five minutes prior to the scheduled conference call time.
Departamento de Relações com Investidores – Investor Relations Team
+55 (11) 3886-0421
gpa.ri@gpabr.com
www.gpari.com.br