Q2 2024 Grendene SA Earnings Call (English, Portuguese) Transcript
Key Points
- Grendene SA (BSP:GRND3) reported a growth in gross revenue by 3.1%, with a notable increase of 12.4% in the external market.
- The company achieved a gross profit growth of 8%, reaching BRL204.7 million, with an improved gross margin of 42.6%.
- Melissa brand showed strong performance with a 9.4% increase in gross revenue and a 25.1% growth in sellout.
- E-commerce gross revenue grew by 20%, indicating a successful digital strategy.
- The company maintained efficient management of operational expenses, with administrative expenses growing only 2.1%, under the inflation rate.
- The internal market faced challenges with high interest rates and inflation impacting consumer purchasing power, particularly among low-income populations.
- Recurring net profit decreased by 27.1%, primarily due to lower financial results and taxation impacts.
- The volume of pairs sold in the domestic market decreased by 3.1%, with a specific decline in the Ipanema series.
- The international market is experiencing a slowdown, affecting consumption habits, particularly in North America and Europe.
- The company faced a 30% decrease in sales in the Southern region of Brazil due to the impact of floods in Rio Grande do Sul.
(interpreted)
Welcome to the video conference for the release of the second quarter of '24 and first half of '24 results of Grendene S.A. I want to remind you that those who require simultaneous translation that we offer this function on the platform.
To access, simply click OK on the interpretation button through the globe icon at the bottom of the screen and choose your preferred language, either Portuguese or English. Anyone watching the video conference in English can mute the original audio in Portuguese by pressing the Mute Original Audio button.
The video conference is being filmed and will be made available on the company's IR website, ri.grendene.com.br, where you can also find our press release for the second quarter '24 results. You can download the presentation from the chat icon, which is also available in English.
(Operator Instructions)
We would like to emphasize that the information in this presentation, as well as any statements made during the video conference concerning the business prospects, projections and operating financial targets of
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