Lojas Americanas increases net profit by 0,5%
Losses suffered by the e-commerce company B2W negatively impacted the performance of its parent company.
Lojas Americanas reported a consolidated net profit, which includes the e-commerce operations of B2W, of R$ 43,4 million in the second quarter of this year, a result 0,5% higher than the same period last year.
According to the management report accompanying the financial statements, cash generation, measured by EBITDA (earnings before interest, taxes, depreciation, and amortization), totaled R$ 261,3 million, representing a 21,2% increase compared to the same period in 2010. The EBITDA margin grew 0,8 percentage points during the period, to 12,3%. The gross margin advanced 0,2 percentage points, to 29,8%.
Consolidated net revenue grew 14,4% in the period, reaching R$ 2,44 billion. The consolidated negative financial result increased 34,5% in the quarter, to R$ 171,6 million.
The e-commerce company B2W, which owns the Americanas and Submarino websites, recorded a consolidated loss of R$ 20,9 million in the second quarter of 2011, after a profit of R$ 17,9 million in the same period last year.
According to the company, cash generation, measured by EBITDA (earnings before interest, taxes, depreciation, and amortization), totaled R$ 102,1 million, representing a 7,7% decrease. The EBITDA margin relative to net revenue fell 0,6 percentage points to 12,2%. B2W's gross margin decreased by 1,2 percentage points to 26,3%.
Net revenue reached R$ 982,6 million, up 3,0%. The net financial result was negative R$ 74,8 million, a 21,3% increase compared to the negative R$ 81,5 million reported in the second quarter of 2010.