CURRENT SCENARIO
Assaí in numbers
Present in 1 in every 4 homes (1)
+35 million customers per month
+30% of market share (2) 293 stores
Diverse store formats +80,000 employees
(1) 2023 NielsenIQ Homescan survey; (2) Nielsen
3
Highly fragmented market with growth opportunities
FOOD MARKET
~R$800 bn
(ABIA(1) 2022)
~R$700 bn
(ABRAS 2022)
~R$255 bn
(Nielsen 2022, considering only Cash
& Carry)
FRAGMENTATION - C&C
~2,500 stores +300 players
POPULATION DENSITY PER C&C
Caption | |
Fewer | More |
inhabitants | inhabitants |
per Cash & Carry | per Cash & Carry |
OPPORTUNITY
Of the 203 cities with +150,000 inhabitants
91 cities do not have yet an Assaí store
(1) Brazilian Food Industry Association.
5
We are the brand with the highest presence in Brazilian homes
Channel Penetration (1) | |||
(Dec/23) | |||
72% | |||
60% | |||
32% | |||
18% | |||
Cash & | Super | Hyper | Proximity |
Carry | |||
24% | 11% | 6% | 1% |
Channels Participation (1)
Small businesses and beverage
distributors amount to 59% (4)
Penetration of brands in Brazil (2) | ||||||
25% | ||||||
25% | 22% | 21% | ||||
Presence in households | 21% | |||||
19% | ||||||
18% | ||||||
+30% | ||||||
Market share in | 10% 10% | 10% | ||||
Cash & Carry | 6% | 6% | 6% | |||
5% | ||||||
~12% | 3% | |||||
Total Cash & Carry |
stores (3) | Assaí | Player 1 | Player 2 | Player 3 | Player 4 | Player 5 | Player 6 | |||
1H21 | (C&C) | (Retail) | (Hyper) | (Super) | (Super) | (Super) | ||||
1H23 | 1H21 | 1H23 | ||||||||
(1) Nielsen; (2) NielsenIQ Homescan 2023 survey; (3) Considering 2.500 stores in the Cash & Carry market; (4) Small grocery stores, supermarkets and hypermarkets that do not belong to major groups | 6 |
account for 43%, while beverage distributors account for 16%. |
Success proven by productivity
Annual average sales/mature store: | |||
ASSAÍ PRODUCTIVITY 80% | ~R$140M (1) | ~R$ 250M | |
ABOVE SECTOR AVERAGE | vs. |
Assaí Evolution
Annual average sales/store:
(R$ milion) | ||
11.5% | ||
5.6% | 253 | |
215 | 227 | |
2021 | 2022 | 2023 |
Assaí Evolution | |||||||
Sales/m²: | |||||||
(R$ thousand) | |||||||
4.0 | 4.1 | 4.4 | 4.5 | 4.7 | 4.5 | ||
3.8 | |||||||
3.5 | |||||||
Last 2 years: 64 conversions | |||||||
opened and under maturation | |||||||
+33% of sales area vs. Company's Average | |||||||
2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
(1) Considering weekly average sales of R$ 3.7 million (Source: Nielsen) - excluding Assaí
7
Model evolution maintaining low costs and increasing profitability
2011 | Today |
Old | New |
layout | layout |
Selling | Improvements: lighting, air conditioning, equipment, glass | Selling |
Expenses(1): 9% | Expenses(1): 9% | |
facade, flooring, high ceiling, pallet racks |
(1) Excluding rent | 8 |
Expansion acceleration with conversions in irreplicable points
Strategic points in exceptional locations in major capitals and metropolitan regions
Accelerated expansion in regions with greater proximity to B2B and B2C clients
+400,000 m² added to sales area
Low cannibalization of existing stores
Sales 3x (1) higher than in the hypermarket model
EBITDA margin 150 bps above the Company's average (2)
Commercial galleries contribute to improve customers flow and dilute operating costs (230k sqm of GLA / 1.300 tenants)
Accelerated maturation with presence in high-density urban regions
3 | 2 |
1 | 2 |
2 | |
1 | 2 |
3 | 1 |
5 |
1 | |
66 | 3 |
29 | |
1 | |
Stores | 8 |
acquired | 2 |
64
Conversions concluded (3)
9 | 9 |
(1) Based on the Company's past experience in store conversions. (2) In relation to the Company's average (7.5%). (3) Until December 2023. |
Performance of conversions confirms unique value proposition: 64 converted stores in operation with sales uplift in line with project's objective of 3x (vs. hypermarket)
Average Monthly Revenue
(47 Conversions Opened in 2022)
R$ 26M | R$ 28M | ||
R$ 24M | |||
R$ 22M | |||
1Q23 | 2Q23 | 3Q23 | 4Q23 |
EBITDA Mg. | 2.6% | 3.7% | 5.4% | 5.6% |
Pre-IFRS 16 | ||||
Sales
Uplift ~3x
Sale Uplift of +3.8x in food perimeter
Store Conversion: Salvador Paralela (BA)
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Sendas Distribuidora SA published this content on 03 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 May 2024 14:34:09 UTC.