Petz reports net income of R$ 26.6 million in the 3rd quarter, an annual increase of 56.1%

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Petz recorded net income of BRL 26.6 million in the third quarter of 2021, an increase of 56.1% compared to the same period in 2020. The adjusted Ebitda, in turn, was BRL 67.156 million, an increase of 43, 4%. The adjusted Ebitda margin was 10.5%, 0.1 pp higher than the third quarter of last year.

The company’s total gross revenue grew 45.5% in the quarter, reaching R$641.6 million, with the digital channel’s gross revenue of R$198.76 million, a share of 31%.

The company’s financial result at the end of the quarter was a negative R$ 4.2 million, compared to a negative result of R$ 5.4 million at the end of September last year.

The network totaled 153 units in all regions of Brazil, with ten openings in the period and 35 in the last 12 months. “We remain focused on the network’s geographic diversification process, given the consistency of the returns obtained in the various cities in the country”, says the document with comments that accompany the balance sheet.

“We are reassessing our expansion plan for 2022 and beyond, given the consistent evolution of the NPS (Net Promoter Score) in our different channels and segments.”

The company ended the third quarter with a net debt of BRL 134.1 million, against a cash position of BRL 13.329 million a year earlier. In relation to the adjusted Ebitda, the debt went from -0.1 times to 0.6 times.

Reference: CNN Brasil

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