B2W saw a strong increase in sales in the first quarter, and remains under the influence of e-commerce in the wake of social isolation measures. But its loss grew in the face of larger free shipping subsidies.
The e-commerce group announced on Thursday (6) that it suffered a net loss of 163.6 million reais in the first quarter, a loss greater than 108 million reais in the same period in 2020.
The company, which owns Submarino and Americanas.com, also reported that it had achieved a 90.4% increase in total sales (GMV, for short in English) year after year, reaching R $ 8.68 billion.
The company, which last month announced a business merger proposal with Lojas Americanas to create the company to be listed on the US Stock Exchange, reported net revenue of R $ 2.94 billion in the quarter, an increase of 73.5% in one year. .
On the other hand, the adjusted general expenses amounted to R $ 808 million, representing 9.3% of total sales, an increase of 0.5 percentage points year on year, reflecting increased investments in free delivery. Sales expenses alone are up 130%.
Thus, the operating result measured in Adjusted Earnings Before Taxes, Interest, Depreciation and Amortization (Ebitda) totaled R $ 129.4 million, an increase of 1.4% in 12 months.
In the quarter, cash depreciation reached R $ 897.4 million, an increase of 38.9% in one year, and the company attributed this development to seasonal factors and an increase in inventories.
“For the next quarter and for the year as a whole, we are strengthening our commitment to continue generating cash,” B2W said in the report.
