Grendene SA (BSP:GRND3)

Q3 2024 Grendene SA Earnings Call (English, Portuguese) Transcript

Nov 8, 2024 / 01:30 PM GMT

Release Date Price: R$5.28 (-0.75%)

Transcript

Key Points

Positve

Grendene SA (BSP:GRND3) reported robust growth in revenue and margins for the third quarter of 2024, with gross revenue increasing by 10%.
The domestic market showed strong performance, particularly driven by the Melissa brand, which saw a 53.3% increase in sales.
The company achieved a significant increase in recurring net profit, reaching 239.4 million reais, a growth of 45.9% compared to the previous year.
Grendene SA managed to control production costs effectively, with net revenue per pair increasing by 10.4% while COGS per pair increased by only 5.7%.
The company maintained a strong financial position, with a dividend yield of 5.1% and a payout ratio of 54%.

Negative

The foreign market experienced a decline, with a 13.5% decrease in volume and a 5.4% decrease in gross revenue.
The female segment, particularly the Zaxy brand, underperformed compared to the previous year, impacting overall sales.
Challenges in the export market were noted, particularly in Latin America, due to economic issues in countries like Argentina and Bolivia.
The company faced logistical challenges, such as shipping delays, which affected export sales.
Increased competition and promotional discounts from competitors negatively impacted the performance of certain brands like Ipanema.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

GRND3.SA - Grendene SA
Q3 2024 Grendene SA Earnings Call (English, Portuguese)
Nov 08, 2024 / 01:30PM GMT

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Presentation
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Good morning, everyone and thank you for your patience. Welcome to the video conference for the release of Green Deans three quarter 24 and nine months, 24 results of Green Dean essay for those who require simultaneous translation. This function is available on the platform to access. Please click on the interpretation button in the gold icon at the bottom of the screen and select your preferred language Portuguese or English.

If you're watching the video conference in English, you can mute the original audio in Portuguese by clicking on the mute original audio button. Please note that this video conference is being recorded and it will be made available on the company's rir website R I dot green jean dotcom dot br where

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