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Vivara (VIVA3) has a jump of 1,073.7% of net income in the 1st quarter of 2022, to R$ 45,922 million

Vivara (VIVA3) recorded a net income of BRL 45.922 million in the first quarter of 2022 (1Q22), almost twelve times higher (or an increase of 1,073.7%) compared to the same period in 2021 (1Q21), the company said. in a earnings release this Monday morning (9).

“As in recent quarters, the acceleration of production activities at the Manaus plant has benefited the Income Tax and Social Contribution line, ensuring once again greater proximity between net and operating results,” the company said.

Net revenue rose 55% on an annual comparison basis, from R$217.73 million to R$337.4 million. Gross revenue, net of returns, grew 50.3%, to R$410.86 million, compared to 1Q21, driven by the
assertive strategy of increasing the product mix in stores and digital channels and by the accelerated expansion of Vivara and Life by Vivara stores in the last 12 months, he informed.

Adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) was R$51.2 million, up 388.3%. The adjusted Ebitda margin (Ebitda over net revenue), in turn, increased by 10.4 percentage points, reaching 15.2%.

Same-store sales (SSS) increased 41.7% year-on-year, with a 67.1% expansion in physical store sales, compared to the first quarter of 2021.

Digital sales totaled R$51.6 million, down 10.9% in one year, corresponding to 12.6% of Vivara’s total sales in the period.

Costs rose 45.6% in the first quarter to R$109.2 million, with operating expenses increasing 33.7% to R$158.3 million.

At the end of the quarter, the company recorded net cash of R$294.1 million, down 18.9% compared to December, with greater investments in working capital and in the expansion plan. Investments totaled BRL 23.8 million in the first three months of 2022, an increase of 84.3% in one year, with the opening of two new stores since the end of 2021.

Free cash consumption was R$ 68.8 million in the first quarter, R$ 71.8 million more than in the first quarter of last year. This was mainly due to the resumption of operations and, consequently, the increase in the allocation of working capital and the resumption of investments in the expansion plan, highlighted the company.

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