SÃO PAULO, March 8, 2021
/PRNewswire/ -- Brazilian retailer Assaí Atacadista (NYSE:
ASAI) starts on March 8 the
trading of its American Depositary Shares (ADSs) in the
New York Stock Exchange (NYSE), under the "ASAI" ticker. After the
split-off from CBD, concluded this month, the self-service retail
company will operate more independently, focusing on its business
model and on its own market opportunities. The Company's board will
participate in the symbolic online ceremony celebrating the listing
of the ADSs on the 9th.
Assaí, controlled by French Group Casino is the second largest
retail company in Brazil in gross
income and the only Cash&Carry listed in the Brazilian stock
exchange. Assai debuted in the country in March 1, 2021. Its stocks soared almost 400% that
day.
"The NYSE listing represents an opportunity for increasing
liquidity, visibility and for Assaí's shares to increase value in
the international market.Also, this is yet another commitment the
Company has taken toward a Corporate Governance model more aligned
to global good practices", says Gomes, Assaí's CEO.
Giant in numbers
Assaí recorded net profit of R$299
million in the last quarter of 2020, which represents a 31%
increase compared to the same period of 2019, according to the last
balance sheet. Even in a challenging year, due to the pandemic and
in light of the scenario of the Brazilian economy, the company kept
the pace of its expansion and market share gains, creating even
more jobs (5 thousand new jobs throughout 2020) –Assaí is today the
10th largest private employer in Brazil.
Assaí's gross income recorded a 30% increase compared to the
previous year, ending 2020 with R$39.4
billion, which means R$9
billion more in sales during the space of one year. It also
recorded a 38.4% EBITDA growth, totaling R$2.7 billion, and over R$1.0 billion in net profits.
Winning model
According to Gomes, the company's model, combining low prices
and serving both shopkeepers and the end customer, contributed to
its success. "The wholesale and retail combination segment are the
channel with the highest participation levels in the supply of food
in Brazilian homes and is present in 62% of homes. Assaí is one of
the players growing the most, with an annual expansion rate between
28% and 30%", says Gomes. In the last five years, Assaí has been
opening an average of 18 new stores a year– for 2021, there are 28
new ones scheduled and another 25 new stores a year until 2023.
Today, the company has 184 stores located in every region of
Brazil.
Assaí still is a reference in Brazil for its investments in clean energy. In
2019, 11% of its energy consumption came from renewable sources,
and more than 14 photovoltaic modules are installed in eight of the
Company's stores.
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SOURCE Assai Atacadista