2023-05-18 12:30:43
Magazine Luiza had a great performance in the first quarter on the stock exchange, MGLU3 shares rose more than 20% in the period. As much as the news is good, investors and other financial agents are more concerned regarding the retail company’s accounts between January and March 2023.
The balance sheet released on Monday (15) shows that the company recorded a loss of R$ 391.2 million in this period. The gap is greater than the negative R$ 161.3 million in the first quarter of last year.
The result was mainly influenced by the reintroduction of DIFAL, according to Magazine Luiza. This instrument calculates and collects the difference between the internal and interstate ICMS rates of the State of destination of the products or services. Another point that helped was the increase in financial expenses considered “seasonal”.
Earnings before interest, taxes, depreciation and amortization, called Ebtida, grew 3.2% on the same basis of comparison, to R$ 448 million. Therefore, net revenue increased 3.5% and reached just over R$ 9 billion.
As much as Magazine Luiza has closed 175 physical units in the last 12 months, the company’s sales totaled R$ 15.5 billion, which represents an increase of 10.1% compared to the first quarter of last year.
One of the main factors behind this performance was the 11.1% increase in e-commerce. In addition to that physical stores presented an increase of 7.5% in the period.
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