Consolidated net income for GPA’s controllers was R$1.4 billion in the first quarter of 2022, an annual increase of 1,250%. The number was driven by the amount pocketed by the company with the sale of Extra Hiper points of sale to Assaí.
If only the group’s continued operations are considered, the company recorded a loss of R$111 million in the quarter, which means the reversal of the profit of R$103 million recorded in the same period in 2021.
The company described in its balance sheet how the sale of commercial points appears in the last lines of the balance sheet.
“As communicated on April 4, 2022, we concluded the assignment of the exploration rights of 40 more commercial points to Assaí, adding to the 20 carried out in the fourth quarter of 2021, we ended the first quarter of 2022 with 60 points assigned, 86% of the transaction perimeter. As a result, in the quarter, we had a net income from discontinued activities of R$1,510 million”, wrote the management in its earnings release.
GPA’s adjusted Ebitda was R$655 million, down 12.2% from a year earlier. Net revenue, in turn, was R$10 billion, up 2.3%.
Source: CNN Brasil
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