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Via (VIIA3) has a 90% drop in profit in 1Q22, to R$18 million, above expectations – Money Times

Via has a profit above the expectation of the consensus gathered by Bloomberg (Image: Disclosure/Casas Bahia)

THE Via (VIIA3) ended the first quarter from 2022 with accounting net profit of R$ 18 million in the first quarter of 2022, a drop of 90% compared to the same period last year, shows a document sent to the market this Monday (9).

already the operating net profit was R$ 86 million, a drop of 52.2% compared to the R$ 180 million in the same cycle last year.

“In the first quarter of 2022, there was BRL 29 million in subsidy incentives on a recurring basis. In the first quarter of 2021, there was an effect of the recurring subsidy incentive of R$33 million and R$117 million from previous periods, totaling R$150 million”, says Via to justify the drop.

Even so, the number came above expectations by the consensus gathered by Bloomberg, which pointed to a loss of R$ 112 million.

THE adjusted EBITDA, which measures the operating result, was R$ 673 million, an increase of 15.2% compared to the same period last year. The adjusted Ebitda margin was 9.1%, an increase of 1.4 percentage points.

Meanwhile, the Adjusted operating EBITDA da Via was R$ 758 million, an increase of 29.8%. The adjusted operating Ebitda margin was 10.2%, an increase of 2.5 percentage points.

“This margin advance is due to strong productivity gains and good control of expenses. In the EBITDA line, the non-recurring adjustments related to the updating of labor lawsuits (legacy) amounted to R$ 85 million in the quarter”, explains the company.

THE Net Revenue was R$ 7.3 billion, down 2%. THE consolidated gross revenue stood at R$ 8.7 billion, down 1%.

“The variation is explained by the 3.5% decrease in revenue from physical stores, despite the 2.8% increase in online revenue”, says Via.

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